Kikkoman Corporation
Fact Book
Business Information
Fiscal 2020
1
1. The information in this presentation is based on Kikkoman's best knowledge at the time it was prepared.
This presentation does not constitute a promise or guarantee that the company will achieve its numerical
targets or necessarily implement the strategies outlined.
2. Changes in fiscal year ends etc.
In 2001, Kikkoman changed its fiscal year from January – December to April – March.
Calendar years in this chart, unless otherwise noted before 2001 represent from January to December,
from 2001 onwards represent the fiscal periods from April to March, respectively.
Example. 2000 = January – December 2000, 2019 = April 2019 – March 2020
3. Changes in revenue recognition standard
Certain domestic consolidated subsidiaries have changed their revenue recognition standard for fiscal 2014
onwards.
2
3
- Others
<Overseas>
- Foods-Manufacturing and Sales - Foods-Wholesale
〔1-1〕 Major Business Activities
<Japan>
- Foods-Manufacturing and Sales
Soy Sauce Food Products BeveragesLiquor and
Wine
Biochemical business, chemicals, logistics and
other businesses
North America Europe Asia & Oceania
Soy Sauce
Asia & Oceania
Del Monte
North America
Other Foods
Sales of oriental food products in Japan and
overseas
4
〔1-2〕 Consolidated Results for Fiscal 2020
Net Sales :¥ 468,616Unit: millions of yen
Eliminations
-12,624 -7%Others
21,341
11%Foods-
Wholesale
200,249
70%
Foods-Manufacturing
and Sales
96,591
34%Foods-Manufacturing and Sales
179,444
96%
Overseas
284,122
61%
Japan
188,161
40%
Eliminations
-12,718 -4%
Holding Company and Eliminations
-3,667 -1%
5
〔1-3〕 Consolidated Results for Fiscal 2020 (Net Sales by Division)
Unit: millions of yen
Net Sales-Japan :¥ 188,161 Net Sales-Overseas :¥ 284,122
Foods-
Manufacturing
and Sales
179,444
96%
Others
21,341
11%
Eliminations
-12,624 -7%
Soy Sauce
49,662 28%
Food
Products
62,046 34%
Beverages
57,467 32%
Eliminations
-180 -0%
Foods-
Manufacturing
and Sales
96,591
34%
Foods-
Wholesale
200,249
70%
Eliminations
-12,718 -4%
Soy Sauce
77,973 81%
Other Foods12,517 13%
Del Monte
6,099 6%Liquor and Wine
10,448 6%
Eliminations
29
0%
6
〔1-4〕 Consolidated Results for Fiscal 2020
(Operating Profit by Segment)
Operating Profit :¥ 39,826 Unit: millions of yen
Others
1,832
14%
Eliminations
-176
-1%
Overseas
28,221
71%
Japan
13,322
33%
Foods-
Manufacturing
and Sales
19,251
68%
Foods - Wholesale
9,147
33%
Foods-Manufacturingand Sales
11,460
86%
Holding Company and Eliminations
-1,717 -4%
7
〔1-5〕 Consolidated Results for Fiscal 2020
(Net Sales and Operating Profit by Geographical Segment)
Unit : millions of Yen
Net Sales :¥468,616 Operating Profit : ¥39,826
Overseas
284,122
61%
Japan
188,161
40%
Japan
13,322
33%
Overseas
28,221
71%
Holding Company
and Eliminations
-3,667 -1%
Holding Company
and Eliminations
-1,717
-4%
North America
Europe
Asia & Oceania
The total of Others and Eliminations within the overseas segment.
19,17968%
4,587 16%
2,490 9%
1,963 7%
208,25373%
5,551 2%
38,902 14%
31,414 11%
8
19
74
19
75
19
76
19
77
19
78
19
79
19
80
19
81
19
82
19
83
19
84
19
85
19
86
19
87
19
88
19
89
19
90
19
91
19
92
19
93
19
94
19
95
19
96
19
97
19
98
19
99
20
00
20
01
20
02
20
03
20
04
20
05
20
06
20
07
20
08
20
09
20
10
20
11
20
12
20
13
20
14
20
15
20
16
20
17
20
18
20
19
100
2,572
9
〔2-1〕 Overseas - Changes in Kikkoman’s Soy Sauce Sales Volume
(1974-2019)
Average Annual Growth Rate 1974-2019
7.5%
Source: Kikkoman Data
1974 Sales Volume= 100
Note) Indexed using the 1974 sales volume as 100.
North
America
64% Europe
17%
Asia &
Oceania
18%
Others and
Elimination 1%
100 106 114 121
132 141 151
166 174 185
0
50
100
150
200
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Note) Figures in the table above represent the actual change on a local currency basis, excluding the
translation difference, indexed to consolidated sales in 2010.
10
〔2-2〕 Overseas – Changes in Net Sales of Kikkoman Soy Sauce
and Breakdown of Sales by Region
Average Annual Growth Rate 2010-2019:7.1%
2010 Sales = 100Breakdown of sales by region in
Overseas Soy Sauce Business of
Kikkoman (2019 Sales)
100 100 100
157
217
354
0
100
200
300
400
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
11
〔2-3〕 Overseas – Changes in Net Sales of Kikkoman Soy Sauce
(2010-2019)
Average Annual Growth Rate
(2010-2019): 15.1%Average Annual Growth Rate
(2010-2019) : 5.1%Average Annual Growth Rate
(2010-2019) : 9.0%
North America Asia & OceaniaEurope
Notes)* 1. Figures in the table above represent the actual change on a local currency basis excluding the translation difference, indexed to consolidated sales in 2010.
* 2. (Asia & Oceania) Sales at Kikkoman Shanghai Trading Co., LTD. and President Kikkoman Inc. have been included since 2014.
* 3. (Asia & Oceania) Sales at President Kikkoman Zhenji Foods Co., LTD. have been included since 2016.
2010 Sales = 100 *1
*2
*3
12
〔2-4〕 Overseas – Kikkoman Soy Sauce Production Bases
(As of March, 2020)
(Wisconsin)
Kikkoman Foods Europe B.V.
(Groningen, The Netherlands)
President Kikkoman Inc.
(Tainan, Taiwan)
Kikkoman (S) Pte Ltd
(Singapore)
Kunshan President Kikkoman
Biotechnology Co., LTD.
(Kunshan, Jiangsu)
(California)
President Kikkoman
Zhenji Foods Co., LTD.
(Shijiazhuang, Hebei)
Kikkoman Foods, Inc.
13
〔2-5〕 Overseas – Changes in Kikkoman’s Share of the U.S. Home-Use
Soy Sauce Market (Volume) (2010-2019)
Source: Kikkoman Data Note) Charts and graphs refer to calendar years.
57.7 57.6 56.3 55.5 55.7 56.7 58.0 57.7 57.4 56.6
0%
50%
100%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Kikkoman Brand A Others
41% 41% 41% 40% 40% 39% 39% 38% 37% 39%
46% 46%47% 48% 48% 49% 49% 49% 50%
47%13%13%
12%12%
12% 12%12% 13%
13%14%
0
20
40
60
80
100
120
140
160
180
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Home-use Food service-use Industrial-use
14
〔2-6〕 Overseas – Changes in U.S. Market Breakdown of Sales
for Kikkoman Soy Sauce (2010-2019)
Source: Kikkoman Data
157
100
2010 Sales = 100
Note) Figures in the table above represent the actual change on a local currency basis, excluding the
translation difference, indexed to consolidated sales in 2010.
100
197
0
50
100
150
200
250
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
15
〔2-7〕 Overseas – Changes in Consolidated Net Sales of Kikkoman’s
Foods-Wholesale Business (2010-2019)
Average Annual Growth Rate 2010-2019: 7.8%
2010 Sales = 100
Source: Kikkoman Data
Note) Figures in the table above represent the actual change on a local currency basis, excluding the
translation difference, indexed to consolidated sales in 2010.
New Zealand
16
〔2-8〕 Overseas – Locations of Major Group Companies in Wholesale Business
(As of March, 2020)
Locations of JFC Group Companies
▲▲ ▲
▲
▲
▲
U.K.
▲
▲
▲
▲
▲
▲
▲▲
▲
▲
▲
▲
Netherlands
▲
Russia
▲
Brazil
Mexico
U.S.A.
Canada
Australia
Japan
China
Singapore
Malaysia
Thailand
France
Austria
Italy
Germany
Norway
Sweden
▲
UAE
Atlanta
Note) Wholesale bases with an asterisk (*) are bases of JFC International (Canada) Inc.
San Francisco
Los Angeles
17
〔2-9〕 Overseas – Major Production, Sales and Wholesale Bases
in North America (As of March, 2020)
*
Dallas
Chicago
New York
*
FolsomWalworth
*
Honolulu
Production Bases of Soy Sauce
(Kikkoman Foods, Inc.)
Sales Bases of Soy Sauce
(Kikkoman Sales USA, Inc.)
Wholesale Bases
(JFC International Inc.)
Toronto*
Wien (Austria)
18
〔2-10〕 Overseas – Major Production, Sales and Wholesale Bases
in Europe (As of March, 2020)
Production Base of Soy Sauce
(Kikkoman Foods Europe B.V.)
Sales Bases of Soy Sauce
(Kikkoman Trading Europe GmbH)
Wholesale Bases (JFC Group)
Moscow (Russia)
Milan(Italy)
Paris(France)
London(U.K.)
Amsterdam
(Netherlands)
Hoogezand
Sappemeer
(Netherlands)
Düsseldorf(Germany)
Oslo(Norway)
Stockholm(Sweden)
Dubai
(UAE)
ShanghaiKikkoman Shanghai
Trading Co., Ltd.
19
〔2-11〕 Overseas – Major Production, Sales and Wholesale Bases
in Asia (As of March, 2020)
Hong KongTainan
President Kikkoman Inc.
Singapore
Kikkoman (S) Pte Ltd
Kikkoman Trading
Asia Pte. Ltd.
Kuala Lumpur
Production Bases of Soy Sauce
Sales Bases of Soy Sauce
Wholesale Bases (JFC Group)
Taipei
Beijing
Kunshan
Kunshan President Kikkoman
Biotechnology Co., Ltd.
Shi Jia Zhuang
President Kikkoman
Zhenji Foods Co., Ltd.
Bangkok
KTA(Thailand)Co ., Ltd.
20
〔2-12〕 Overseas – Major Production, Sales and Wholesale Bases
in Oceania (As of March, 2020)
Sales Base of Soy Sauce
(Kikkoman Australia Pty. Limited)
Wholesale Bases (JFC Group)Perth
Brisbane
SydneyGold Coast
Melbourne
Adelaide
Canberra Wellington
Auckland
Christchurch
〔2-13〕 Overseas – Del Monte Business in Asia & Oceania
21
SingaporeDel Monte Asia Pte Ltd
Trat (Thailand)Siam Del Monte Company Limited *2
Xiamen (China)
Del Monte Foods (Xiamen) Co., Ltd.*3
Notes) *1. Kikkoman has acquired perpetual marketing rights to Del Monte brand in the Asia-Pacific region(excluding the
Philippines)
*2. Siam Del Monte Company Limited is manufacturing products in Tetra Recart packages.
*3. Del Monte Foods (Xiamen) Co., Ltd. is manufacturing tomato ketchup, chili sauce and other products.
Areas subject to
trademark licensing *1
Production Bases of
Del Monte Products
Sales Base of
Del Monte Products
22
1957 Kikkoman Sales USA, Inc. (present name) was established.
(A soy sauce sales company; California, United States)
1969 Capital participation in JFC International Inc. (present name)
(A wholesale company; California, United States)
1973 Shipments began at Kikkoman Foods, Inc.
(A soy sauce production plant; Wisconsin, United States)
1979 Kikkoman Trading Europe GmbH was established.
(A soy sauce sales company; Düsseldorf, Germany)
1984 Shipments began at Kikkoman (S) Pte Ltd. (A soy sauce production plant; Singapore)
1990 Shipments began at the joint venture, President Kikkoman Inc.
(A soy sauce production plant; Tainan, Taiwan)
1997 Shipments began at Kikkoman Foods Europe B.V.
(A soy sauce production plant; Groningen, the Netherlands)
1998 Shipments began at Kikkoman Foods, Inc.
(A soy sauce production plant; California, United States)
〔2-14〕 Overseas – The History of the Overseas Operations
23
2002 Shipments began at the joint venture, Kunshan President Kikkoman Biotechnology Co.,
LTD. (A soy sauce production plant; Kunshan, Jiangsu)
2006 Shipments began at the joint venture, Siam Del Monte Company Limited.
(A Del Monte plant; Trat, Thailand)
2008 Shipments began at the joint venture, Del Monte Foods (Xiamen) Co., Ltd.
(A Del Monte plant; Xiamen, Fujian)
2009 Shipments began at the joint venture, President Kikkoman Zhenji Foods Co., LTD.
(A soy sauce production plant; Shi Jia Zhuang, Hebei)
2014 Kikkoman Shanghai Trading Co., LTD. was established.
(A soy sauce sales company; Shanghai)
〔2-15〕 Overseas – The History of the Overseas Operations
24
0
1,000
2,000
3,000
4,000
5,000
6,000
1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Soy Sauce Tsuyu and Tare
25
〔3-1〕 Japan – Changes in Expenditure for Soy Sauce and Tsuyu and Tare inJapanese Family Income and Expenditure Survey
(1992-2019)
(Yen)
Source: Statistics Bureau, Ministry of Internal Affairs and Communications
Note) Charts and graphs refer to calendar years.
26
〔3-2〕 Japan – Changes in Soy Sauce Market (Volume)
(2010-2019)
Source: The Japan Soy Sauce Brewers Association
0
100
200
300
400
500
600
700
800
900
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
(1,000KL)
744,000KL
Note) Charts and graphs refer to calendar years.
27
〔3-3〕 Japan – Changes in Number of Soy Sauce Breweries
(2010-2019)
(Companies)
Source: The Japan Soy Sauce Brewers Association
Note) Charts and graphs refer to calendar years.
800
900
1,000
1,100
1,200
1,300
1,400
1,500
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
1,141
0
30.5 30.7 31.2 31.8 32.7 32.7 33.2 33.4 33.6 33.3
0
50
100
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Kikkoman+Higeta A B C D 2nd-Ranked Major Companies Others
28
〔3-4〕 Japan – Changes in Soy Sauce Market Share (Volume) Breakdown
(2010-2019)
Note) Charts and graphs refer to calendar years. Source: Nikkan Keizai Tsushinsha
(%)
29
〔3-5〕 Japan – Soy Sauce Market Share (Volume) Breakdown by Brand
(January–December 2019)
Source: Nikkan Keizai Tsushinsha
Higeta5.1%
Kikkoman28.2%
Kikkoman Group Total 33.3%
A 11.8%
B 6.6%
C 4.0%
D 4.0%
2nd-Ranked Major 9 Companies
16.8%Others23.5%
13.4 13.2 13.9 15.5 17.0 18.6 19.9 20.4 21.0 21.6
24.4 23.9 22.5 21.9 20.4 19.4 18.4 17.3 16.4 16.4
12.0 11.5 10.8 10.1 9.3 8.9 8.4 8.0 7.8 7.5
50.2 51.4 52.8 52.5 53.3 53.1 53.3 54.3 54.8 54.5
0
50
100
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Less than 1L 1L 1.8L, 2L Over 2L
30
〔3-6〕 Japan – Breakdown of Kikkoman Soy Sauce Shipments
by Packages in Market (Volume) (2010-2019)
Source: Kikkoman Data
(%)
8.2 9.2 10.5 11.8 12.5 13.5 14.8 15.1 15.5 15.9
0
10
20
30
40
50
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Less Sodium Others
31
[3-7] Japan – Changes in Component Ratio (Amount) of Less Sodium
Soy Sauce in Home-Use Soy Sauce Market (2010 - 2019)
(%)
100
Source: INTAGE SCI, soy sauce nationwide, April 2010 – March 2020, Size of
market, Amount
100
109
70
80
90
100
110
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
32
2010 sales = 100*1
Notes: *1. Indexed to consolidated net sales in 2010.
*2. Consumption tax was raised from 5% to 8% in April 2014.
*3. Sales declined in 2016 due to a revision of the price system for Hon Tsuyu.
0
*2*3
Source: Kikkoman Data
[3-8] Japan – Changes in Net Sales (Amount) of Kikkoman Soy Sauce
and Soy Sauce Derivative Products (2010 - 2019)
87
100
112
0
20
40
60
80
100
120
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Market Kikkoman
2010 Sales = 100
33
〔3-9〕 Japan – Changes in Tomato Ketchup (Home-Use) Market
and Kikkoman’s Sales (Amount) (2010-2019)
Notes) 1. August 2013: Launched Lycopene-Rich Tomato Ketchup.
2. April 2015: Revised tomato ketchup prices (an increase of about 4 to 10% in suggested retail prices).
3. April 2017: Implemented a price system change for Tomato Ketchup 500 g (decreases in sales prices and sales expenses).
(Source)
Market: INTAGE SCI, Tomato ketchup nationwide, April 2010 – March 2020, Size of market, Amount, Base value
(2010 market total = 100)
Kikkoman: Kikkoman Data
30 35 44 48 55 67 76 90 97 108
121 126145 148 153
165171
182191
205
5760
67 6972
7267
6775
77
18
0
50
100
150
200
250
300
350
400
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Soy milk Processed soy milk Soy milk beverages Others
〔3-10〕 Japan – Changes in Soy Milk Market (Volume)
34
<Classifications of soy milk> Soy milk is defined by the Japanese Agricultural Standards (JAS) and is categorized into three classifications: soy milk, processed soy milk, and soy milk beverages.
Notes) 1. Charts and graphs refer to calendar years.
2. Starting from 2019, soy milk for industrial-use was added in data, and was included in “Others.”
Source: Ministry of Agriculture, Forestry and Fisheries (2010-2014),
Japan Soymilk Association (2015-2019)
Classification Standard Main products of Kikkoman
Soy milk Solid soybean is 8% or more. Oishi Muchosei Tonyu (tasty unprocessed soy milk)
Processed soy milk Solid soybean is 6% or more. Chosei Tonyu (processed soy milk)
Soy milk beverages(A) Fruit juice beverages : Solid soybean is 2% or more.
(B) Other beverages : Solid soybean is 4% or more.
(A) Tonyu Inryo (soy milk beverage) Fruit Mix
(B) Tonyu Inryo (soy milk beverage) Malt Coffee
(1,000KL)
209 220
256 265280
303 314339
363
409
55.8% 52.8%52.6% 51.6% 51.8% 51.7% 51.0% 52.2% 52.9% 51.0%
209 220
256 265 280303 314
339363
409
0
50
100
150
200
250
300
350
400
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Kikkoman Others
35
(1,000KL)
[3-11] Japan – Soy Milk Market and Changes in the Share (Volume) of
Kikkoman Group in Soy Milk Production (2010 - 2019)
Notes: 1. Charts and graphs refer to calendar years.
2. Starting from 2019, soy milk for industrial-use was included in the data.
(Source)
Market: Ministry of Agriculture, Forestry and Fisheries (2010-2014), Japan Soymilk Association (2015-2019)
Kikkoman: Kikkoman Data
36
37
※For details on the Global Vision 2030, please refer to the following materials.
・ Japanesehttps://www.kikkoman.com/jp/corporate/management/vision2030.html
・English
https://www.kikkoman.com/en/corporate/management/vision2030_en.html
〔4-1〕 Global Vision 2030
Kikkoman Group Long-Term Vision
“Global Vision 2030”~Striving with passion to create new values~
Kikkoman Corporation launched “Global Vision 2030” as our new vision of
the future for the Kikkoman Group in April 2018. This vision states our “goals”
and strategies to achieve these by the year 2030. The Kikkoman Group will
work toward our ambitious goals with our theme “Striving with passion to
create new values” for the year 2030.
38
〔4-2〕 Outline of Global Vision 2030
Challenges toward 2030
Striving with passion to Create New Values
Utilizing management resources
Human resources/information/cash flow
Offering No.1 values
Fermentation and brewing technologies
Global No.1 strategyCreating
new businessesArea No.1 strategy
1 2
1 2 3
Goals
Make Kikkoman
Soy Sauce a truly
global seasoning
Create new delicious
experiences around the
world, and contribute to
richer, healthier lifestyles
1 2 3 Become a company whose
presence in global society is
ever more meaningful,
through activities unique to
Kikkoman
39
40
Mar. 2004 Capital and business alliance with Kibun Foods Group (※)
Apr. 2006 Transferred shochu business to Sapporo Breweries Ltd.
Jun. 2006 Kibun Food Chemifa Co., Ltd. becomes a consolidated subsidiary of Kikkoman (※)
Jun. 2008 Equity-based business alliances with Riken Vitamin Co., Ltd. (equity method)
Aug. 2008 Kibun Food Chemifa Co., Ltd. becomes a wholly owned subsidiary of
Kikkoman (※)
Mar. 2009 Sold over half of interest in consolidated subsidiary Tone Coca-Cola Bottling Co., Ltd. (Coca-Cola business) to Coca-Cola (Japan) Company, Limited
Apr. 2009 Kibun Food Chemifa Co., Ltd. company name changed to
Foodchemifa Co., Ltd. (※)
Note) An asterisk (※) shows the business restructuring related to the soy milk business.
〔5-1〕 Recent Business Reorganization and
Equity-Based Business Alliances in Japan (2004-2009)
41
Apr. 2010 Kikkoman Beverage Company takes on the beverage sales business of Foodchemifa Co., Ltd.’s Beverage Division through absorption-type company split (※)
Apr. 2011 Integration of the biochemical business, functional material business of the Health Food Sales Department, both in Kikkoman Food Products Company, and the chemicals business of Foodchemifa Co., Ltd.
Apr. 2011 Foodchemifa Co., Ltd. company name changed to Kikkoman Soyfoods Company. (※)
Jun. 2016 Sale of 6,600,000 shares of Riken Vitamin Co., Ltd. (with the ratio of voting
rights held changing from 34.5% to 6.5%)
(The equity-based business alliances continues.)
〔5-2〕 Recent Business Reorganization and
Equity-Based Business Alliances in Japan (2010-2016)
Note) An asterisk (※) shows the business restructuring related to the soy milk business.
42
Mar. 2005 Established Country Life, LLC through joint venture with local partner
Apr. 2006 Country Life, LLC becomes a wholly owned subsidiary of Kikkoman
Sep. 2008 Allergy Research Group acquired through a TOB, becomes a wholly owned subsidiary of Kikkoman
Dec. 2010 Acquired the shares of Yamakawa Trading Co. (Pte) Ltd. (renamed JFC
(S) Pte. Ltd.) and Yamakawa (H.K.) Limited making them wholly owned
subsidiaries.
Aug. 2012 Naoi Group AS (renamed JFC Norden (Norway) AS) and the wholesale
and retail divisions of Naoi Group AB are spun off (renamed JFC Norden
(Sweden) AB) to make them wholly owned subsidiaries of Kikkoman.
〔5-3〕 Recent Business Reorganization and
Equity-Based Business Alliances Overseas (2005-2012)
43
<Business Overview of Country Life, LLC>
<Business Overview of Allergy Research Group LLC>
〔5-4〕 Business Overview of Other Food Businesses in North America
- A long-established company in the health food industry, it has operated for
more than 40 years manufacturing and selling health foods, etc. in the United
States. With sales networks across the United States, it is one of the top brands,
particularly for its channel of distributors
dealing with natural foods.
- The company is a nutritional supplement manufacturer based in Salt Lake City,
Utah, the United States. It formulates and markets nutritional supplement
products featuring vitamins, minerals, and other nutrients, enjoying strong
sales through established direct sales to medical doctors.
- We will enhance the production capacity utilization rate by ensuring that
Allergy Research Group LLC entrusts the production of its products to
Country Life, LLC.
- We will expand the marketing area by ensuring that
Allergy Research Group LLC and Country Life, LLC,
a company based in New York, the United States,
use their respective facilities.
44
Time Initiative Purpose
March 2001 Introduced corporate officer system Clarified management responsibilities and accelerated decision-making and business execution
June 2002
Appointed outside directors
Increased management transparency and strengthened management oversight Established Nominating Committee and
Remuneration Committee
October 2009 Adopted holding company structureClarified roles and responsibilities of holding company and operating companies and created a
structure to maximize Group synergies
Key steps taken to reinforce corporate governance
45
〔6-1〕 Overview of Corporate Governance (As of June 23, 2020)
StructureCompany with Audit &
Supervisory Board
Corporate officer system Yes
Organization
Basic Approach
DirectorsAudit & Supervisory
Board Members
Number
(including the number of outside appointments)11 (4) 4 (2)
Term of office 1 year 4 years
Executives
Composition Role
Nominating
Committee
6 members (4 outside directors, 2 directors)
Committee chaired by an outside director
Proposes to the Board of Directors the selection and dismissal of directors and corporate
officers as well as the entrustment and removal of managerial positions in addition to the
appointment of audit & supervisory board members. (The Audit & Supervisory Board
provides its consent for audit & supervisory board member candidates)
Remuneration
Committee
6 members (4 outside directors, 2 directors)
Committee chaired by an outside directorDecides on remuneration for directors and corporate officers.
Nominating Committee and Remuneration Committee
The Company regards the enhancement of corporate value through the practice of the Group management philosophy as the basis of
business management. To realize this, the improvement and strengthening of the corporate governance system is the most important
management issue.
46
〔6-2〕Corporate Governance System (As of June 23, 2020)
General Meeting of Shareholders
The Audit & Supervisory Board
4 board members
(including 2 outside
board members)
The Board of Directors11 directors
(including 4 outside directors)
Nominating Committee
Remuneration Committee
Hold
ing C
om
pan
y
Operational
companies
Audit
Appoint / Dismiss Appoint / Dismiss
Kikkoman Group companies
Acco
untin
g A
udito
r
Appoint / Dismiss
Report
Report
CEOGroup Management Committee
Discussion of important issues and reportSelect/Appoint, Supervise
Intern
al Co
ntro
l Com
mittee
Corp
orate E
thics C
om
mittee
Risk
Man
agem
ent C
om
mittee
Quality
Assu
rance C
om
mittee
Gen
eral Enviro
nm
ent
Preserv
ation C
om
mittee
Corp
orate S
ocial R
esponsib
ility
Com
mittee
Holding company
departments
Internal Auditing
Department
Internal Control
Department
Acco
untin
g A
udit Report
ReportAudit Evaluate
Evaluate
Audit
Audit
Acco
untin
g A
udit
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