1

First Half FY3/2016Consolidated Financial Results Presentation

November 17, 2015The Nisshin OilliO Group, Ltd.

2

Takao ImamuraPresident and Representative Director

・Summary of Financial Results for First Half FY3/2016

・Progress Report on Medium-Term Management Plan

3

Summary of Consolidated Financial Results for First Half FY3/2016 and Consolidated Financial Forecasts for FY3/2016

4

2Q FY3/2016 2Q FY3/2015 Change (%)

Net sales 161,123 158,216 +1.8%Operating income 3,480 3,085 +12.8%Ordinary income 3,691 3,160 +16.8%

Net income attributable to the parent’s shareholders 2,865 1,896 +51.1%

(Million yen)

Consolidated Financial Results for First Half FY3/2016

5

FY3/2016Forecasts

FY3/2015 Results Change (%)

Net sales 340,000 329,267 +3.3%Operating income 7,000 5,574 +25.6%Ordinary income 7,000 5,823 +20.2%

Net income attributable to the parent’s shareholders 4,000 3,447 +16.0%

(Million yen)

FY3/2016 Consolidated Forecasts

6

Progress Report on Medium-Term Management Plan

7

Promote sales at fair selling prices to accommodate the overall cost increase for edible oils

Inject new products in the general-purpose edible oils category to escape homogeneous competition・Launched Nisshin Healthy-Off 900g

Speedy product development and deployment to respond to consumer and user needs・Nisshin Coconut Oil (plain) 130g・Nisshin Medium-Chain Triglycerides 100% Oil 85g・Nisshin Kenko Oil Amani-plus 600g・Expand product lineup for olive oil gift packs

Implement full-fledged strategies for each sales channel to commercial users, price corrections, and sales ratio of value-added products・Expand sales of premium oil products and products in the Super-

Long series Promote a marketing model that implements the joint development of

demand with users through the User Support Center・Product development that stems from target user strategies and

originates from user needs

Moving toward our goal of building a solid earnings base, we are expanding sales of value-added products and fully promoting sales at fair selling prices,

as well as implementing speedy product development

Domestic Oil and Fat Business (1)

[FY3/2016 Cost reduction forecast]・Establish a system that achieves a reasonable balance between supply and

demand: ¥82 million・Maximize benefits from renewal of Yokohama Isogo Plant: ¥475 million・Renew production/logistics functions at West Japan bases: ¥181 million・Organize functions and roles of group subsidiaries： ¥25 million・Measures to reduce transport costs, including joint delivery: ¥346 million・Strengthen comprehensive cost competitive strength in production:

¥1,806 million

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(Million yen)Establish a system that will achieve a cost reduction of ¥3.0 billion,in accordance with plans

(Million yen)

1,163 1,916

2,915

0500

1,0001,5002,0002,5003,0003,500

2013年度実績 2014年度実績 2015年度見通しFY3/2014 Results FY3/2015 Results

Domestic Oil and Fat Business (2) – Reduce Production / Distribution Costs –

FY3/2016 Forecast

9

ISF

Secure stable profits in this business to drive group earnings

Pour energies into sales of value-added products, mainly with clients in Europe Strengthen technological expertise and product diversification through collaborations

with Nisshin Global Research Center Execute expansion of RSPO raw material suppliers Further business expansion in Asia, a region that boasts growth potential

Daito Cacao Co., Ltd. And T.&C. Manufacturing Co., Pte. Ltd.

Select partners for commercialization of products and development of new customers in Southeast Asia (Daito Cacao)

Initiatives for sales to Southeast Asia (T.&C.)

Domestic Processed Oil and Fat

Stabilization of earnings in the specialty fats business and strengthening of sales transaction base

Product development and launch, and the establishment of sales channels for full-fledged entry into the retail market

Expand sales to major companies in bread manufacturing market

Processed Oil and Fat Business

10

Sales volume growth for cosmetic raw materials in Japan and abroad, and establishment of subsidiary in China (Fine Chemical)

Earnings improvement owing to brisk sales of MCT-related products and dressings (Healthy Food)

Fine Chemical

Increase in sales of general and functional cosmetic raw materials to major customers

Sales growth in overseas markets Establishment of Nisshin OilliO (Shanghai) International Trading Co., Ltd. Expand global sales channels extending from IQL

Healthy Food

Increase overall sales, mainly of health linkage products Brisk sales of MCT (Medium Chain Triglycerides) related products Dressing sales driven by launch of Nisshin Healthy-Dressing Sauces Earnings in this business improved substantially year-on-year

Fine Chemical Business and Healthy Food Business

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Boost recognition of MCTs concurrently with product launch and create a strong brand “MCT = Nisshin OilliO”

Strategic launch of MCT-related products

MCT Memorion Nisshin Medium-Chain Triglycerides 100% oil Nisshin Coconut Oil (plain) Oil de Suppli: MCT + coconuts Collaborations with other companies

・Maruha Nichiro Corporation: Nursing care foods・Summit Agro International Ltd.: Nutritional supplement pet food

MCTs secure share in brain function improvement market

Gathering case data on improvement of Alzheimer’s disease symptoms and prevention through the use of our products・Presentations at conferences such as the Japanese Society for Dementia

Care, Parenteral and Enteral Nutrition Society of Asia, and Japan Society for Dementia Prevention

・Gathering evidence from the standpoint of improving symptoms of dementia

Medium-Chain Triglycerides (MCT) Business

12

Additional Business Structure Reforms

Aiming toward the realization of our vision in the Medium-Term Management Plan and sustainable group growth in and after FY3/2018, we will seek to implement the following four additional major cost-reduction initiatives.

Sales operation reformsConsider implementing awareness reforms out in the sales field, and reforms to new sales site policies, operations, and to the transaction system

Distribution structure reformsIn addition to reducing costs by ¥3.0 billion in FY3/2016, begin to roll out new cost cutting initiatives

Operational, organizational, and personnel structure reformsReform operations, organization, and personnel by transforming workstyles, downsizing operations, reforming meetings, and office operations

Cost structureReduce costs by reviewing overall costs

Additional Business Structure Reforms

13

Nobuyuki Watanabe

General Manager, Financial Department

Summary of Consolidated Financial Resultsfor First Half FY3/2016

14

(Million yen)

* Figures f or raw materials and f oreign exchange rates are based on Nisshin OilliO results.

+394 +12.8%

+2,907Operating income 3,480 3,085

Change

+1.8%Net sales

2Q FY3/2016

161,123

2Q FY3/2015

158,216

+969 +51.1%

+530Ordinary income

Net income attributable tothe parent's shareholders

3,6912,865

3,1601,896

+16.8%

Change Change (%)-177 -28%

Raw Material Prices & ForeignExchange Rates

Soybean Unit Price (USD/t)2Q FY3/2016

4452Q FY3/2015

622-49 -9%+17 +17%

Rapeseed Unit Price (USD/t)

　Foreign Exchange Rate (JPY/USD)

479119

528102

Summary of Consolidated Financial Results for First Half FY3/2016

15

(Billion yen)

Oils and Meals 108.0 1.2 103.2 1.9 +4.7% -34.6%

Processed Oil and Fat 43.2 1.7 45.8 1.0 -5.6% +73.8%

Fine Chemical 7.9 0.4 7.6 0.2 +4.6% +105.3%

Healthy Food 3.8 0.0 3.5 -0.0 +6.8% -

Other 2.8 0.1 2.7 0.1 +4.9% +2.4%

Elimination/Corporate -4.8 -0.2 -4.7 -0.2Consolidated total 161.1 3.4 158.2 3.0 +1.8% +12.8%

Percentage of Overseas Sales 19.8% 21.7% -1.9%

2Q FY3/2016 2Q FY3/2015 Change (%)

2Q FY3/2016 2Q FY3/2015 Change (%)

Net salesOperatingincome(loss)

Net salesOperatingincome(loss)

Net salesOperatingincome(loss)

Consolidated Results by Business Segments

25,000

35,000

45,000

55,000

65,000

75,000

85,000

JPY/t 大豆（¥/ｔ） 菜種（¥/ｔ）

16*Figures for raw materials are based on Nisshin OilliO results.

Major Raw Material Prices TrendsSoybean (JPY/t) Rapeseed (JPY/t)

0.8

1.0

1.2

1.4

1.6

17

Taking Apr-Sep 2007 as baseline of 1.0

*Figures for unit selling price are based on Nisshin OilliO results.

Unit Selling Price Trends

Unit price of major oils & fats products (JPY/kg)

18

(Billion yen)

Raw Material Costs Soybean +9.0Rapeseed +2.1Foreign Exchange -7.05

Subtotal -1.95 Oil Meals -6.0

Sales of Oils and Fats +0.5

Total -1.45

Total +0.3

Fine Chemical, Healthy Food Businesses (including subsidiaries)

+1.0

-0.1±0

Total +0.9

Overseas Subsidiaries(Oil and Meal, Processed Oil and Fat Businesses)

Domestic Subsidiaries(Oil and Meal, Processed Oil and Fat Businesses)

Domestic Subsidiaries (Other)

Other SG&A +0.45Manufacturing Costs, Other +0.2

Total +0.65

Factors Impacting Operating Income (Year on Year)First Half FY3/2015

Operating income: ¥3.10 billion

Up ¥ 0.4 billion

First Half FY3/2016Operating income: ¥3.5 billion

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(Billion yen) (Billion yen)

Total assets Total liabilities and net assets

Current assets Total liabilitiesCash and deposits

Interest-bearing debtInventories Income taxes payableOther Other

Fixed assets Total net assetsProperty, plant and equipment Retained earningsIntangible assets Treasury stock

Noncontrolling interests

Deferred assetsCost of issuing bonds

-2.40.9 0.6

-0

-1.7 -0-1.6 -0

-3.0

-2.2

-2.6+3.5 +9.1+2.2 -0.4

+1.5134.8 +3.9 117.3 +3.9

Notes and accounts receivable - trade

Notes and accounts payable - trade

Investments and other assetsAccumulated other comprehensiveincome

243.1 +1.5

-2.7

+0.9

0 -0

243.1

108.2 -2.4 125.8

Consolidated Balance Sheet: Changes from End of Previous Fiscal Year

36 33 28

43 38

30.4 30.4 39.4

6.6 4.5

5.3

4.1

4.4

3.3 3.0

3.0

8.8 13.4 21.5

19.0 20.7

16.6 12.9

13.1

51.5 51.0 54.9

66.1 63.2

50.3 46.4

55.5 51.5

0

100

200

300

400

500

600

700

2009年3月

期

2010年3月

期

2011年3月期 2012年3月

期

2013年3月

期

2014年3月

期

2015年3月

期

2016年3月

期

第2四半期

2016年3月

期

計画日清ｵｲﾘｵｸﾞﾙｰﾌﾟ 国内子会社 海外子会社 有利子負債20

FY3/2009 FY3/2010 FY3/2011 FY3/2012 FY3/2013 FY3/2014 FY3/2015 2Q FY3/2016

(Billion yen)

Consolidated Interest-Bearing Debt

FY3/2016 plan

70.0

60.0

50.0

40.0

30.0

20.0

10.0

0.0

The Nisshin OilliO Group Domestic Subsidiaries

Overseas Subsidiaries Interest-Bearing

21

(Million yen)

*Figures f or raw materials and f oreign exchange rate are based on Nisshin OilliO results.

Change2Q 2Q

FY3/2016 FY3/2015

+3.3%

Operating income 7,000 3,480 5,574 3,085 +1,426 +25.6%

Net sales 340,000 161,123 329,267 158,216 +10,733

+20.2%

Net income attributable tothe parent's shareholders 4,000 2,865 3,447 1,896 +553 +16.0%

Ordinary income 7,000 3,691 5,823 3,160 +1,177

429 571 -142 -25%

Change Change (%)Raw Materials Prices &Foreign Exchange Rates

FY3/2016 FY3/2015

Soybean Unit Price (USD/t)

+17 +17%Rapeseed Unit Price (USD/t) 477 522 -45 -9%

Foreign Exchange Rate (JPY/USD) 120 103

FY3/2016 Consolidated Forecasts

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(Billion yen)

Raw Material Costs Soybean +15.15Rapeseed +3.9Foreign Exchange -13.8

Subtotal -4.2 Oil Meals -9.45

Sales of Oils and Fats +3.55

Total -0.65

Total +0.4

Fine Chemical, Healthy Food Businesses (including subsidiaries)

+1.0

-0.2±0

Total +0.8

Overseas Subsidiaries(Oil and Meal, Processed Oil and Fat Businesses)

Domestic Subsidiaries(Oil and Meal, Processed Oil and Fat Businesses)

Domestic Subsidiaries (Other)

Other SG&A +0.5

Manufacturing Costs, Other +0.4

Total +0.9

Forecasts for Factors Impacting Operating Income (FY3/2016 Year on year)

FY3/2015Operating income: ¥5.55 billion

Up ¥1.45 billion

FY3/2016 (forecast)Operating income: ¥7.0 billion

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［Reference materials］

500

700

900

1,100

1,300

1,500

1,700

1,900

￠/Bu

24Source: Bloomberg

6/30 1,056.25

4/30 1,530.75

9/26 910.25

9/22 861.75

Soybean Market Price Trends (Chicago Board of Trade)

300

400

500

600

700

800

CAD/t

4/16 441.10

25

5/13 511.20

9/22 394.60

7/10 542.90

Rapeseed Market Price Trends (Winnipeg Commodity Exchange)

Source: Bloomberg

1,200

1,600

2,000

2,400

2,800

3,200

3,600

4,000

4,400MYR/t

26

4/16 2,736

8/29 1,937

8/26 1,800

9/29 2,395

Source: Bloomberg

Palm Oil Market Price Trends (Malaysia)

70

75

80

85

90

95

100

105

110

115

120

125

JPY/USD

27

6/5 125.63

8/24 118.41

9/30 109.65

7/17 101.18

Source: Bloomberg

Foreign Exchange Rate Trends

50

55

60

65

70

%

28Source: CBT market (soybean meal, soybean oil)

Meal Value Trends

3,400

4,100

4,800

3,850

2,800

3,400

3,800 3,850

4,150

3,750

151.0

215.5

153.0

187.5

217.5 218.0

233.0

155.0

179.0

229.0

249.0

140.0148.0

200.5

215.5 216.0210.5

130

150

170

190

210

230

250

270

290

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000JPY/kgJPY/18 liter drum

大豆白絞斗缶 大豆白絞バルク 菜種白絞バルク

29

Nikkei Market Price Trends: Oils

Soybean oil (18 liter drum) Soybean oil (bulk) Rapeseed oil (bulk)

Source: Nikkei inc.

46,500

62,000

70,000

45,000

60,000

64,000

48,000

38,000

61,000

57,000

69,500

32,000

43,000 41,500

31,000

37,000

37,50032,800

25,300

40,500

51,000 68.8

77.9

72.8

57.1

64.5

70.0

65.8

74.6

50

55

60

65

70

75

20,000

30,000

40,000

50,000

60,000

70,000

%JPY/ｔ

大豆粕 菜種粕 菜種粕ﾚｼｵ

30

Market Price Trends: Meals

Soybean meal Rapeseed meal Rapeseed meal ratio

Source: The Daily “Yushitokuhou”