November 17, 2016The Nisshin OilliO Group, Ltd.

First Half FY3/2017Consolidated Financial Results Presentation

1

2

・Summary of Financial Results for First HalfFY3/2017

・Progress Report on Medium-TermManagement Plan

Takao ImamuraPresident and Representative Director

3

Summary of Consolidated Financial Results for FirstHalf FY3/2017 and Consolidated Financial Forecastsfor FY3/2017

2QFY3/2017

2QFY3/2016 Change (%)

Net sales 155,032 161,123 -3.8%Operating income 5,540 3,121 +77.5%Ordinary income 5,122 3,455 +48.3%

Net income attributable to the parent's shareholders 3,964 2,688 +47.5%

4

Consolidated Financial Results forFirst Half FY3/2017

(Million yen)

5

FY3/2017Forecasts

FY3/2016Results Change (%)

Net sales 329,000 327,836 +0.4%Operating income 9,000 7,129 +26.2%Ordinary income 9,000 7,370 +22.1%

Net income attributable to the parent's shareholders 6,000 5,020 +19.5%

FY3/2017 Consolidated Forecasts

(Million yen)

6

Progress Report on Medium-Term Management Plan

Segment Initial Goals Main Achievements being made in Medium-Term Management Plan

Domestic Oil and Fat

Continuing to implement far-reaching initiatives to improve earnings for building a solid earnings base

Deploying high value-added products, improving earnings in standard oils category, developing new sales channels, and reducing costs

Processed Oil and Fat

Secure stable profits in this business to drive group earnings

Created a global platform for growth, mainly at ISF, Daito Cacao Co., Ltd. and T.&C. Manufacturing Co., Pte. Ltd.

Fine Chemical (FC)

Further expansion in business scale and progress in globalization

Established an infrastructure for the cultivation of Asia’s market by setting up a local subsidiary in China for the sale ofraw materials for cosmetics

Healthy Food (HF) & other

Strengthen initiatives with focused targets in areas that the Nisshin OilliO Group has an advantageCreate new businesses and global brand in the Medium-Chain Triglyceride Business

Expanding sales of medium-chain triglyceride (MCT)-related and other health-related products, promoting mail-order business, and developing elderly and nursing care market

7

Progress Report on Medium-Term Management Plan

2.4 2.3

4.0

2.0 3.0

3.2

0.5

1.1

1.1

0.9

1.0

0.7

0

10

20

30

40

50

60

70

80

90

100

FY3/2015Results

FY3/2016Results

FY3/2017Plan

In addition to benefit from structural reforms in the Domestic Oil and Fat Business, we expect ordinary income to increase for another consecutive fiscal year owing to growth in the Processed Oil and Fat Business and Fine Chemical Business.

2.9 3.15.0

2.94.3

4.0

0

10

20

30

40

50

60

70

80

90

100

FY3/2015Results

FY3/2016Results

FY3/2017Plan

(Billion yen)(Billion yen)

5.8 5.8

7.4

9.0 9.0

7.4

Consolidated ordinary income trends

Domestic Oil and Fat Business

Processed Oil and Fat Business

FC Business HF Business& other

ParentSubsidiaries & affiliates

8

Progress Report on Medium-Term Management Plan

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0

10.0

9.0

8.0

7.0

6.0

5.0

4.0

3.0

2.0

1.0

0

Continuing to implement far-reaching initiatives to improve earnings for building a solid earnings base

Deploying high value-added products• Expanded sales underpinned by active sales promotions to commemorate the 20th anniversary of

the launch of “BOSCO Olive Oil”• Secured earnings contribution on launch of new products that satisfied consumer needs

→ “Nisshin Kenko Oil Amani-plus” (foods labeled with health claim functions)• Developed high value-added products and new customers using a sales method that focuses on

cooperation to unearth user needs→ “Kyuhyu-ga-sukunai Frying Oil”, “Nisshin Super-Long series” (commercial-use)

• Created new market by suggesting usages, including table-use oils that can be directly poured on foods→ Fresh-keep bottles (olive oils, roasted sesame seeds oils)

Supplement-like oils (“Nisshin Flaxseed Oil” / “Nisshin Medium-Chain Triglycerides 100% Oil”) Improving earnings in standard oils categories

• Continued to offer fair selling prices commensurate with raw material prices• Developed products to eliminate homogeneous competition in the standard oils categories and

improved sales ratio for these products→ “Nisshin Healthy-Off”, “Nisshin Canola Oil Natyu-Made”

Reducing costs• Achieved cost reduction goal of ¥3.0 billion by optimizing the production and distribution system.• Estimate another cost reduction of ¥1.1 billion by establishing a corporate structure that continues

to cut costs

In the first half of FY3/2017, posted ordinary income of ¥2.6 billion, versus a full-year ordinary income target of ¥4.0 billion (achievement rate of 65%)

9

Domestic Oil and Fat Business

Created a global platform for growth, mainly at ISF, Daito Cacao Co., Ltd. and T.&C. Manufacturing Co., Pte. Ltd.

• ISF expanded sales of value-added products in Europe• Moved forward in Asia with sales activities backed by proposals for value-added products

that suit customer needs via collaborations between ISF and T&C and the Nisshin Global Research Center, which was set up in Malaysia to carry out research and development

• Entered negotiations on possible joint venture with Salim Group in Indonesia to globally expand the chocolate business at Daito Cacao

• Continued to implement sales expansion of value-added products in the growing Asian market through ISF and T.&C.

• In Japan, expanded sales of value-added margarine products and specialty fats owing to fortification of user support functions

In the first half of the year, recorded ordinary income of ¥2.1 billion, versus a full fiscal year target of ¥3.2 billion (achievement rate of 66%)

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Secure stable profits in this business to drive group earnings

Processed Oil and Fat Business

FC Business: Further expansion in business scale and progress in globalizationHF Business: Strengthen initiatives with focused targets in areas that the Nisshin

OilliO Group has an edgeMedium-Chain Triglyceride Business: Create new businesses and global brand

< Fine Chemical Business >In the first half of the year, booked ordinary income of ¥600 million, versus a full fiscal year target of ¥1.1 billion Built a platform for business expansion in Asia by establishing a local subsidiary in China to

handle the sales of raw materials for cosmetics• Substantial contribution to earnings expansion owing to brisk sales backed by technical

proposals and support offering by local subsidiary in China, set up in 2015 to handled sales of raw materials for cosmetics

• In Japan, expanded sales by actively offering proposals on use of value-added products, including functional materials

< Healthy Food Business and others> Expanding sales of medium-chain triglyceride (MCT)-related and other health-related

products, promoting mail-order business, and developing elderly and nursing care market• Expand sales related to markets for elderly and nursing care by improving the recognition of

benefits of health functions of MCT by strengthening ties with hospitals, nursing care facilities, companies outside of the Nisshin OilliO Group, and universities.

• Enlightening consumers of the value of MCT and improving recognition of MCT through active communication and through collaborations between industry, academia, and the government of Suzuka City

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Fine Chemical Business and Healthy Food Business

Summary of Consolidated Financial Results

for First Half FY3/2017

Nobuyuki WatanabeGeneral Manager, Financial Department

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*Figures for raw materials and foreign exchange rates are based on the Nisshin OilliO Group results. 13

Summary of Consolidated Financial Results for First Half FY3/2017

(Million yen)

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Consolidated Results by Business Segments (1)

(Billion yen)

Consolidated Results by Business Segments (2)

15

0.6

0.8

1.0

1.2

1.4

1.6

1.8

大豆 原料価格（USD/ｔ） 大豆 原料価格（¥/ｔ） 大豆粕 販売価格（¥/ｔ）

Taking Apr-Sep 2011 as baseline of 1.0

*Figures are based on the Nisshin OilliO Group results. 16

Raw material price (USD/t) Raw material price (JPY/t) Soybean meal selling price (JPY/t)

Raw Material and Oil Meals Price Trends: Soybean

*Figures are based on the Nisshin OilliO Group results. 17

Raw Material and Oil Meals Price Trends: Rapeseed

0.6

0.8

1.0

1.2

1.4

1.6

1.8

菜種 原料価格（USD/ｔ） 菜種 原料価格（¥/ｔ） 菜種粕 販売価格（¥/ｔ）

Taking Apr-Sep 2011 as baseline of 1.0

Raw material price (USD/t) Raw material price (JPY/t) Rapeseed meal selling price (JPY/t)

0.6

0.8

1.0

1.2

1.4

1.6

1.8Taking Apr-Sep 2011 as baseline of 1.0

*Figures are based on the Nisshin OilliO Group results. 18

Unit Selling Price Trends

Unit price of major oil & fat products (JPY/kg)

Up ¥ 2.40 billion

(Billion yen)

Raw Material Costs Soybean +1.60Rapeseed +2.00ForeignExchange +2.70

Subtotal +6.30Unit Price of Meal -3.65Sales of Oils and Fats -0.70

Total +1.95

Total +0.05

Fine Chemical, Healthy Food Businesses (including subsidiaries)

+0.60

+0.20Domestic Subsidiaries (Other) ±0.0

Total +0.80

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

Other SG&A -0.70Manufacturing Costs, Other +0.30

Total -0.40

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First Half FY3/2016Operating income: ¥3.10 billion

First Half FY3/2017Operating income: ¥ 5.50 billion

Factors Impacting Operating Income (Year on Year)

Total assets Current assets Total liabilities

Cash and deposits Interest-bearing debt

Inventories Income taxes payableOther Other

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

Non-controlling interestsDeferred assets

Cost of issuing bonds -0.0

-0.2 -0.0-0.6 -2.5

+0.00.0 -0.0

105.8 -1.7 125.3 +0.6-0.7 +3.1

Accumulated other comprehensive income

+0.6 +1.3

-4.4+1.5 +4.6+2.0 +0.6

+2.7128.4 +4.4 109.0 +2.1

Notes and accounts receivable - trade

Total liabilitiesand net assets234.3 +2.7 234.3

+0.2 Notes and accounts payable – trade

(Billion yen)(Billion yen)

20

Consolidated Balance Sheet:Changes from End of Previous Fiscal Year

(Billion yen)

21

Consolidated Interest-Bearing Debt

43.0 38.0

30.4 30.4 33.4 38.1

4.1 4.4

3.3 3.0 2.8

3.3

19.0 20.7

16.6 12.9 11.2

10.7

66.1 63.2

50.3 46.4 47.5

52.1 47.5

0

100

200

300

400

500

600

700

2012年3月末 2013年3月末 2014年3月末 2015年3月末 2016年3月末 2016年9月末 2017年3月末

見込み

日清ｵｲﾘｵｸﾞﾙｰﾌﾟ 国内子会社 海外子会社The Nisshin OilliO Group Domestic subsidiaries Overseas subsidiaries

End-FY3/2012 End-FY3/2013 End-FY3/2014 End-FY3/2015 End-FY3/2016 End-1H FY3/2016 End-FY3/2017 (Forecast)

70.0

60.0

50.0

40.0

30.0

20.0

10.0

0

*Figures for raw materials and foreign exchange rate are based on the Nisshin OilliO Group results. 22

FY3/2017 Consolidated Forecasts

(Million yen)

Raw Material Costs Soybean -0.50Rapeseed +4.10Foreign Exchange +9.30

Subtotal +12.90Unit Price of Meal -7.30Sales of Oils and Fats -2.20

Total +3.40

Total -0.15

Fine Chemical, Healthy Food Businesses (including subsidiaries)

+0.20

+0.20±0.0

Total +0.40

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 -1.90Manufacturing Costs, Other +0.10

Total -1.80

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Up ¥1.85 billion

(Billion yen)

FY3/2016Operating income: ¥7.15 billion

FY3/2017 (forecast)Operating income: ¥9.00 billion

Forecasts for Factors Impacting Operating Income (Year on Year)

［Reference materials］

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600

800

1,000

1,200

1,400

1,600

1,800

￠/Bu

6/30 1,056.256/10 1,178.25

9/22 861.75 4/7 904.50

25

Soybean Market Price Trends

Source: Bloomberg (Chicago Board of Trade, closing price)

300

400

500

600

700

CAD/t

5/10 526.907/10 542.9

4/16 441.10 7/25 443.90

26

Rapeseed Market Price Trends

Source: Bloomberg (Winnipeg Commodity Exchange, closing price)

1,700

2,100

2,500

2,900

3,300

3,700

MYR/t

9/29 2,395

8/26 1,8007/12 2,270

9/22 2,909

27

Palm Oil Market Price Trends

Source: Bloomberg (Malaysia, closing price)

70

80

90

100

110

120

JPY/USD

8/18 99.89

4/22 111.79

6/5 125.63

8/24 118.41

Source: Bloomberg (Tokyo foreign exchange market, closing price)28

Foreign Exchange Rate Trends

50

55

60

65

70

75

%

29

Meal Value Trends

Source: CBT market (soybean meal, soybean oil)

3,600

4,150

3,850

195.5

233.0

3,750

192.5

206.0

220.5

150

170

190

210

230

250

270

290

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 Source: Nikkei inc.30

Nikkei Market Price Trends: Oils

Soybean oil (18 liter drum)

Soybean oil (bulk) Rapeseed oil (bulk)

48,000

37,500

69,500

51,000

32,800

33,500

53,500

51,500

68.3

78.1

70.1

65.0

30.0

35.0

40.0

45.0

50.0

55.0

60.0

65.0

70.0

75.0

80.0

20,000

30,000

40,000

50,000

60,000

70,000

80,000

90,000

100,000

%JPY/ｔ

大豆粕 菜種粕 菜種粕ﾚｼｵ Source: The Daily “Yushitokuhou”

31

Market Price Trends: Meals

Soybean meal Rapeseed meal Rapeseed meal ratio