Segment Information

Overview of Operating and Geographic Segment Performance

By Operating Segment

Processed Foods Business Division-Production and marketing of hams and sausages and processed foods-

▆Net sales and Segment profit (loss) [Operating income (loss)]

Fresh Meats Business Division-Production and marketing of fresh meats-

▆Net sales and Segment profit (loss) [Operating income (loss)]

Affiliated Business Division-Production and marketing of marine products and dairy products-

▆Net sales and Segment profit (loss) [Operating income (loss)]

Overseas Business Division-Local sales and export to third countries,in addition to exports to Japan-

▆Net sales and Segment profit (loss) [Operating income (loss)]

NOTES

1. The above financial figures until the year ended March 31, 2018 are based on Generally Accepted Accounting Principles in the United States of America (US-GAAP), and the financial figures since the year ended March 31, 2018 are based on International Financial Reporting Standards (IFRS). If the presentaions under US-GAAP and IFRS are different, items under US-GAAP are stated in "[ ]".

2. Net sales and Operating income represent amounts prior to consolidation adjustments.

3. Operating income is calculated by deducting cost of goods sold and selling, general and administrative expenses from net sales, in accordance with Japanese accounting practices.

4. NH Foods Ltd. established a new “Overseas Business Division” on April 1, 2016. In accordance to such establishment, all overseas subsidiaries and associated companies previously under the control of each business division (Processed Foods Business Division, Fresh Meats Business Division and Affiliated Business Division) have become under the control of the “Overseas Business Division.” Consequently, the prior years' segment information is reclassified.

By Geographical Area

Asia & Europe

▆Net sales and Segment profit (loss) [Operating income (loss)]

Americas

▆Net sales and Segment profit (loss) [Operating income (loss)]

Australia

▆Net sales and Segment profit (loss) [Operating income (loss)]

Notes:

1. The above financial figures until the year ended March 31, 2018 are based on Generally Accepted Accounting Principles in the United States of America (US-GAAP), and the financial figures since the year ended March 31, 2018 are based on International Financial Reporting Standards (IFRS). If the presentaions under US-GAAP and IFRS are different, items under US-GAAP are stated in "[ ]".

2. The total of each area is not equal to the Overseas Business Division total, by reason of the elimination of intersegment transactions.

3. Operating income is calculated by deducting cost of goods sold and selling, general and administrative expenses from net sales, in accordance with Japanese accounting practices.

4. The Americas includes North and South American businesses.

5. Breaders & Packers Uruguay SA. is included in Australia.