Ajinomoto Co Inc (MEX:2802)

MXN 633.38 0 (0%) Market Cap: 445.69 Bil Enterprise Value: 486.01 Bil PE Ratio: 35.80 PB Ratio: 4.16 GF Score: 90/100

Q1 2023 Ajinomoto Co Inc Earnings Call Transcript

Jul 29, 2022 / 08:00AM GMT

Transcript

Tetsuya Nakano

Ajinomoto Co., Inc. - Executive Officer, VP in Charge of Finance & IR

Good evening. This is Nakano. Thank you very much for taking precious time to attend this meeting. Now without further ado, we would like to start from the Page 2 of the presentation. I would like to begin my explanation. These are the key messages for today. First of all, in the first quarter, we achieved growth in both revenues and profit. Sales and business profit was both the highest for the quarter since we started using IFRS in 2016. Secondly, the price increases that we have implemented, as a result, we have been able to achieve a steady increase in unit prices. The marketing expenses were efficiently utilized. So therefore, as a result of these initiatives, we have been able to come to the cost increases, resulting from the surge of raw material, logistics and personnel costs. And from the second quarter onwards, we have announced that we plan to implement price increases, but we will closely monitor the reaction of consumers so that we can strengthen our profitability.

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