Consolidated Financial Results
for the Six Months Ended June 30, 2023 and Mid-term Plan Progress

from the beginning

Consolidated Financial Results for the Six Months Ended June 30,2023 and Mid-term Plan Progress

Presenter：

Masakazu Negoro
Senior Managing Executive Officer, Responsible for Management Finance (Accounting
and Finance, Business Structure Reforms, Procurement, Human Capital Strategy)

Disclaimer

Contents

01 Financial Results

Notice of Revision of Operating Results Forecast released on Aug.3,2023

Consumer Products Market in Japan

Kao's Main Markets outside Japan

Highlights of Consolidated Financial Results

Key Points of H1 Results

Consolidated Net Sales by Segment/Geographic Region in H1

Consolidated Results by Segment in H1

Q2 Consolidated Net Sales by Segment/Geographic Region(April-June)

Q2 Consolidated Results by Segment(April-June)

Consumer Products Business in H1

Breakdown of Year-on-Year Changes in Operating Income during Q1(Jan.-Mar.)and Q2(Apr.-Jun.)

Analysis of Change in Operating Income in H1(Year-on-Year Change)

Hygiene and Living Care Business in H1

Health and Beauty Care Business in H1

Increasing Market Share,Unit Prices and Profits through High-value added Products

Improvement of Underperforming Businesses through Rollout of New Marketing Methods

Life Care Business in H1

Cosmetics Business in H1(1)

Cosmetics Business in H1(2)

Chemical Business in H1

02 FY2023 Forecast

Revisions to FY2023 Forecast

Overview of Structural Reforms

FY2023 Forecast

Sales Forecast for FY2023

Analysis of Change in Operating Income (Year-on-Year Change)

Changes in Raw Material Prices and Effects of Price Increases(Consumer Products Business)

Measures in H2:Household and Personal Care Business

Aug.5,2023 Launch of Attack ZERO Perfect Stick

Measures in H2:Cosmetics Business

Measures in H2:Chemical Business

Mid-term Plan“K25”Progress

Presenter：

Yoshihiro Hasebe
Representative Director, President and Chief Executive Officer

1)Mid term Plan“K25”Progress and“K27”

Progress of Kao Mid-term Plan 2025“ K25”

Direction of the Kao Group

Targets of Mid-term Plan K27

K27 Roadmap

2) Structural Reforms(Stronger Competitiveness for Mainstay Businesses)

Overview of Structural Reforms

Effects and One-Time Expenses Associated with Structural Reforms

Mid-term Plan K27:Envisioned Progress

Mid-term Capital Policy

Overview of K27

3)Global Expansion in Growth Driver Areas

Growth Strategy Targets of K27

Global Expansion in Growth Driver AreasSkin care business

Global Rollout of Skin Protection(UV care/Self-tanning)

New Precision Marketing Strategy -Skin Care Business-

Global Expansion in Growth Driver Areas -Cosmetics Business-

Ramp Up a Global Rollout Centered on the 1st Runners of Three Brands -Cosmetics Business-

Global Area Strategy/Brand Identities -Cosmetics Business-(1)

Global Area Strategy/Brand Identities -Cosmetics Business-(2)

Global Expansion in Growth Driver Areas -Chemical Business-

Example of Major Materials and Products -Chemical Business-

Global Expansion of One-of-a-Kind Technologies -Chemical Business-(1)

Global Expansion of One-of-a-Kind Technologies -Chemical Business-(2)

Further Bolster Strong Businesses -Chemical Business-

Overview of K27 Growth Strategy

Key Points of Management Reform

Targets of Mid-term Plan K27

Upcoming Event