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4. 2003 2009 15 SMTC Co Ltd THAI KAMEDA CO LTD
5. 2014 2014 0 19 1 9 1 3 2014 Em 2014 25 000 Ea 23 970 23
6. 2014 4 ARABES
7. DIC TOKAI KLab
8. 1 G65 11 1 2
9. 2011 3 3 2014 3 2010 3 2011 3 2012 3 2013 3 2014 3 2015 3 2016 3 O A A E 690 300 438 454 2620 850 1360 390 630 105 640 2522 636 680 AY NORNIR 300 330 333 186 98 214 680 kDSR P Shared l esearch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29
10. 2014 3 92 833 14 2 3 306 ADA 5 5 4 530 ADA 5 5 3 121 9 8 104 3 83 6 90 69 104 09 2013 3 2014 3 2014 3 2013 5 14 208 104 3 83 6 EHA 90 6 104 0 SR a Sh ared sas ch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a
11. K 1 K 2 2013 M amp A 2013 25 1 No 1 39 9 5
12. Weaknesses 2014 3 59 M amp A M amp A 2 3
13. 8 8 2 3 200 300 6 2109 278 1209 Mal 206
14. M amp A PB a P Sh ared Wesearch ig http www sharedresearch jp Copyright C 2014 Share
15. a P Sh ared Wesearch ig http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved j a 2220 SR Research Report 2015 7 29 KAMEDA SEIKA CO LTD 3 1 1 025 382 2111 1 1957 8 1984 10 31 HP http www kamedaseika co jp 3 IR IR http www kamedaseika co jp company ir irindex html IR 025 368 7210 a j Sh ared KWeSGaT ch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved j a 22 20 SR Research Report 2015 7 29 E
16. SR Inc SR Inc Shared Researcn SR Inc SR Inc SR Inc
17. TPP Er 0 0 Z 30 Ni i 33 PA 1 Xi A T aR Da Ad I SS e 1 J AA 1 T AF Es 40 F Ed Re BE oo
18. 2015 3 976 ADA 939 ADA CH Do AR ICH SIE ZE CIIZI MB LIRA AFD FIEBRE TEST AROS ma 5 AS SC CNI NIZA AL Emma Ala ERAMOR lt DASZO Mi AE OO RE BRA AFD PEL a P Sh ared Wesearch ig http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved j a 2220 SR Research Report
19. is 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 22 438 22 799 23 785 25 652 24 822 25 741 28 546 28 714 6 643 6 643 6 643 6 643 6 643 6 510 6 406 5 939 HSA SREZA 50 690 52 977 54 695 55 661 57 676 60 470 61 660 62 907 17 266 17 834 18 175 18 844 19 235 19 966 20 491 21 156 PAU O UNER 32 231 33 672 34 946 35 129 36 722 38 496 39 025 39 355 J RAE a 3 14 33 71 144 180 254 1 195 1 469 1 559 1 655 1 649 1 863 1 963 2 141 76 2 76 6 76 1 74 5 76 0 75 9 73 6 73 4 25 363 26 143 26 534 27 810 27 650 28 550 30 260 30 802 PA DS kU EME 39 538 41 060 43 042 44 705 45 690 42 513 49 550 50 359 U RAE 36 73 158 255 487 724 947 1 577 1 848 1 899 1 946 1 954 2 303 2 507 2 671 68 1 68 2
20. 2014 4 Sh ared sas ch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 22 20 SR Research Report 2015 7 29
21. 4 9 21 4 1957 32 1971 46 1976 51 F 1987 62 2014 3
22. Sh ared sas ch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 2220 SR Research Report 2015 7 29 2015 3 2 44 776 3 6 789 ADA 978 0 1 247 ADA E 100 4 726 12 59 47 1 46 5 18 8 E 2 2 24 4 13 7 22 7 20 7 2014 3 2015 3 2015 3 3 5 95 000 47 1 a a 978 0 4 200 18 8 1 247 100 491 5 100 24 4 12 5 3 200 22 7
23. TH FOODS Sh ared escar ch la http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 22 20 SR Research Report 2015 7 29 A a 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 3 925 5662 5777 6274 7774 6674 7518 5583 4169 4602 9 136 10489 9 263 9716 10 087 10 054 10 907 12036 11374 11 389 i 1009 948 1018 1314 1745 2159 2 199 gt 478 493 530 643 670 716 677 937 1295 1 412 1 663 1 939 2146 2199 2 451 2020 2113 2424 2735 2960 3620 4354 5022 5075 629 768 791 770 833 776 696 719 808 813 287 226 245 194 211 590 286 330 389 332 8 8 8 9 12 10 11 12 A E 16 421 19 156 18 182 19370 21629 21044 23 015 2
24. 2011 3 BAURO 3 R 2014 3 04 3 05 3 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 SR Sh ared escar ch la http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a a Shared 2220 Na SR Research Report 2015 7 29 10 3 11 3 12 3 13 3 14 3 15 3 79 354 79 859 78 789 81 324 92 833 94 849 98 000 75 982 76 133 75 133 77 156 88 101 89 870 92 819 2 513 2 827 2 898 3 253 3 724 3 958 4 135 859 899 758 915 1 008 1 019 1 045 3 481 3 330 3 365 3 497 3 306 4 032 5 000 3 190 3 316 3 1
25. 5 4 THAI KAMEDA CO LTD IH KAMEDA STC CO LTD
26. Mary s Gone Crackers M amp A
27. SR
28. 20 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 1 5 1 6 1 6 1 5 1 4 1 4 1 4 1 4 2 5 2 6 2 6 2 5 2 4 2 2 21 2 10 1 10 7 11 9 13 0 15 2 17 9 18 4 19 4 48 23 44 67 45 54 46 03 48 55 51 49 46 0 43 8 SR http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 2015 3 BARFA
29. 2015 3 1 196 0 89 10 3 11 3 12 3 13 3 14 3 15 3 859 899 758 915 1 008 1 019 1 045 16 3 4 7 15 7 20 6 10 2 1 1 2 5 94 10 11 30 33 34 33 2 2 89 5 8 1 177 5 10 0 4 4 3 5 11 0 1 1 1 4 3 3 3 3 3 4 3 2 1 1 1 1 1 0 1 1 1 1 1 1 1 1 2 7 0 3 0 3 0 9 1 0 0 8 0 7 SR http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29 1009
30. EE 09 3 100 175 0 155 0 MA X X EE m El A EE td 135 0 115 0 100 0 95 0 75 0 55 0 35 0 09 3 10 3 11 3 12 3 13 3 14 3 15 3 SR Sh ared escar ch la http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a P Shared esearch la http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 GJM 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 60 1 59 5 60 0 60 0 59 1 59 1 58 5 58 5 57 9 56 8 39 9 40 5 40 0 40 0 40 9 40 9 41 5 41 5 42 1 43 2 REA 35 7 36 0 35 5 35 9 36 5 36 8 37 3 37 2 38 6 38 9 4 2 4 5 4 5 4 0 4 4 4 2 4 3 4 3 3 6 4
31. 2015 8 Sh ared jesearch iS http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 22 20 SR Research Report 2015 7 29 3 18 1975 50 40 11 2
32. JAXA http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 10 3 11 3 12 3 13 3 14 3 15 3 541 487 534 779 4 372 5 438 6 998 1051 1 10 0 9 7 45 9 461 2 24 4 28 7 93 127 39 42 630 647 404 0 7 0 6 0 7 1 0 5 0 6 1 7 5 2 9 3 8 1 2 1 3 21 1 17 8 8 8 SR
33. 3 1929 4 2 1
34. 1946 21 1957 32 Sh ared sas ch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 2220 SR Research Report 2015 7 29
35. HAPPY Turn s 2 2014 4
36. 2010 3 2010 3 2010 3 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 4 605 3 937 3 301 2 783 4 286 5 870 5 035 7 603 6 710 4 919 681 1 725 2 476 3 491 3 488 804 2 483 2 020 2 541 317 SR Shared esearch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved
37. 5 A Kameda Crisps KAMEDA OKOME 2012 12 Mary s Gone Crackers Inc 2013 1
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40. 2015 3 10 oie 10 00 KAMEDA 9 02 5 52 4 65 3 41 2 66 1 85 1 81 1 55 1 45 SR Sh ared escar ch la http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 2220 SR Research Report 2015 7 29 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 42973 2 887 2 899 2 968 2 909 2 863 2 835 3 010 3 048 3 043 646 677 718 1191 1 240 1 232 1 170 1 301 1 485 1 623 1 969 1 942 1 925 1 887 1 857 1 814 1 237 1 669 1 616 1 592 207 210 228 296 320 327 294 301 400 464
41. 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 AA E gt A SIP JIP AR JIP 2 317 3I7 689 28 3 447 18 3 190 178 127 670 27 4 438 17 9 184 169 122 1 RARR 630 28 6 2 212 9 6 3 177 8 0 4 655 135 6 1 5 RURE 88 40 681 28 2 491 203 201 83 188 7 8 142 59 695 29 3 477 20 1 199 84 182 7 7 2 127 53 647 26 6 372 153 190 78 165 68 108 44 629 27 0 314 135 189 81 155 67 97 42 3 621 266 6 278 119 7 184 79 0 146 63 9 40 6 hb 73 33 82 35 83 36 87 36 88 84 84 35 87 36 7 53 24 62 27 70 30 75 31 78 84 86 36 90 37 92 38 8 ADE 50 23 52 221 55 24 58 24 58 58 58 24 6 26 69 28 9 WERE 57 26 51 22 52 22 67 28 60 45 45 19 48 20 51 21 10 gt 80 3 75 32 75 32 76 31 65 60 60 25 60 25 51 21 ABRE 47 21 47 20 47 20 47 19 47 47 47 20 47 19 50 21 12 39 1 41 18 41 18 42 17 43 42 46 19 43 18 45 19 13 REESE 67 30 64
42. 2014 3 2015 3 2015 3 1 1 21 680 22 400 3 3 1 95 000 23 6 170 381 4 200 458 611 5 100 513 346 3 200 SR 8 P Shared esearch la http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 5
43. 46 8 OEM 46 89 http www thfoods com THIEN HA KAMEDA JSC N HEADE THTEN HA CORPORATION 30 http thienha kamedafood com _ 100 http niigatayusou Ra 100 14 _ 10096
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45. 3 TH FOODS INC TH FOODS 46 89 a P Sh ared Nesearch ig http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved j pa SR Research Report 2015 7 29 2220 TH FOODS
46. 1960 35 1963 38 1960 1970 1980 1966 41 1977 F 52
47. 2015 3 CAGA 350 555 258 DATA 117 1 514 799 SR 1 x 2 x 3 RE SIRA A 2015 3 1 22 400 BAH 3 3 381 123 8 611 ADA 33 3 346 ANA 32 7 23 6 23 4 9 1 5 2 12 0 E 10 1 10 8 F 16 4
48. 2021 3 1 500 5H 2015 3 1 6 10 0 E 5 7pt ROE10 09 1 7pt 2015 3 1 948 4 3 ROE8 39 2018 3 2 1 080 7 0 e ROE10 0 2021 3 30
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51. SR Inc SR Inc SR tnc http www sharedresearch jp Email info sharedresearch jp 3 31 12 03 5834 8787 a P Sh ared Wesearch ig http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved j a
52. 2 http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29 1 4 Km 36 15 201543 E BERI O 8 8 2 8
53. 4 147 6 9 62 23 4 6 998 28 79 404 647 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 73 000 74 000 76 000 80 000 82 000 82 000 80 000 89 000 95 000 71 313 72 450 74 736 77 541 79 354 79 859 78 789 81 324 92 833 94 849 0 8 1 0 2 0 0 8 2 6 3 9 1 7 4 3 0 2 3 400 3 100 3 500 3 800 3 600 3 700 4 000 4 200 2 993 3 240 3 339 3 128 3 481 3 330 3 365 3 497 3 306 4 032 1 8 0 9 0 5 12 4 6 5 5 5
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55. THIEN HA KAMEDA JSC 1989 Sesmark Foods Inc 4 TH FOODS TH FOODS 2008 20 22 20 SR Research Report 2015 7 29 KAMEDA USA INC Kameda Crisps 2012 24 12 amp Mary s Gone Crackers Inc 70 2 28
56. 1960 1966 41 ha LA 52 6 a 1976 51
57. 2 8 1984 SR
58. 2006 2015 6 CEO IEL RECE COO 1954 1976 HAIHA KAMEDA JOINT VENTURE N Sh ared jesearch is http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 2220 SR Research Report 2015 7 29 RA 2012 2015 6 COO 7 4 4 BZ 2
59. 1 720 1 600 600 600 6 7 KAMEDA USA INC Mary s Gone Crackers Inc TH FOODS INC TH FOODS 200 609 THAI KAMEDA CO LTD IB KAMEDA STC CO LTD
60. 5 09 2014 3 2 http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved Shared jesearch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved e 2220 SR Research Report 2015 7 29 AA KAMEDA USA INC MarY a Gone Crackers Ino a 2012 S 2013 MENIBPCA MBA ERO PEL ERA 2014 3 2014 6 220 3 300 2 920
61. 94 849 ADA 2 2 4 032 ADA 22 0 5 156 ADA 13 9 3 368 7 9 99 8 96 0 101 19 105 39 Er 2014 3 201543 AH _2015 3 92 833 94 849 2 2 95 000 99 8 3 306 4 032 22 0 t8 4 200 96 0 4 530 5 157 5 100 101 1 3 121 3 369 7 9 3 200 105 3 SR CM
62. TH FOODS TH FOODS 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 GJA 2 993 14 2 350 210 3 133 17 5 3 240 8 3 206 115 3 331 6 3 3 339 3 0 283 115 3 506 5 3 3 128 6 3 305 119 3 314 5 596 3 481 11 3 647 107 4 021 21 3 3 330 4 3 812 204 3 938 2 1 3 365 1 0 906 212 4 059 3 1 3 497 3 9 998 201 4 294 5 8 3 306 5 5 1 346 122 4 530 5 5 4 032 22 0 1 241 116 5 157 13 9 SR 13 3 10 3 11 3 14 3
63. http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 2 2208 1924 KE 13 11 1 Shared Scar ch http www sharedresearch p Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29 SW Strengths Weaknesses s Strengths
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67. 55 7 SR P Shared esearch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 d 2015 27 F 3 26 2014 2014 2 2 23 950 2014 4 2014
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69. 2015 3 75 0 100 60 0 80 eel 60 coo 40 ll E O og a a a a a a a a gt A ES JOA OO S TERN I Do EE E Taaa A Wo n a g M R R ES R OR Sukr DA a oe e SFR Ko 4x 42 W lt 6 izy 2014 6 SR jesearch iS http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved a 2220 SR Research Report 2015 7 29 19504 25 d 19614 36 1966 41 x 1967 42 x 1976 51 1977 52 1986 61 x x 1989 1993 5 1996
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73. 2013 25 23 18 4 7 2015 4 7 a P Sh ared Wesearch ig http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved F a Shared 1 Ye 22 20 SR Research Report 2015 7 29 8 O A 100 AERX Nn 115 109 7 109 5 100 0 LY AAN AA j N s _ 100 90 0 4 5 6 7 8 9 10 11 12 1 2 3 95 2014 2015 90 2 e 10 3 11 3 12 3 13 3 14 3 15 3 SRI SM
74. 2220 SR Research Report 2015 7 29 sE F N H 5 1984 10 1993 9 SESMARK FOODS INC TH FOODS INC 1997 10 10096 1998 4 1009 2000 3 2003 1 2004 2 2004 10 2005 4 1009 2005 7
75. 2013 25 ITHIEN HA KAMEDA JSC THAI KAMEDA KAMEDA USA TPP De
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79. 3 M amp A SW Strengths Weaknesses a P Sh ared Nesearch ig http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved F pa 2220 SR Research Report 2015 7 29 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 16 3 71 313 72 450 74 736 77 541 79 354 79 859 78 789 81 324 92 833 94 849 98 000 1 3 1 6 3 2 3 8 2 3 0 6 1 3 3 2 14 2 2 2 3 3 28 431 29 357 29 887 30 987 32 447 32 693 32 734 33 777 39 087 40 937 3 1 3 3 1 8 3 7 4 7 0 8 0 1 3 2 15 7 4 7 39 9 40 5 40 0 40 0 40 9 40 9 41 5 41 5 42 1 43 2 2 993 3 240 3 339 3 128 3 481 3 330 3 365 3 497 3 306 4 032 5 000 14 2 8 3 3 0 6 3 11 3 4 3 1 0 3 9 5 5 22 0 24 0 ESTRES 4 2 4 5 4 5 4 0 4 4 4 2 4 3 4 3
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91. 2008 4 100 KAMEDA USA INC 2009 2 SMTC Co Ltd THAI KAMEDA CO LTD 2012 4 2012 12 2013 6 THIEN HA KAMEDA JSC SR 2016 3 3 2015 6 18 CEO COO CEO 1945 1968 1998
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97. 20 33 HAS isis 40 SW Strengths Weaknesses 43 E E A 44 A o Un e o o PRO A 44 lO ae 46 a A A 47 eee 48 2 48 YES AAA a Eo E OA 48 OO 49 o A 49 A PP E 50 EE 50 EO EE ETIE E EEE A E AA ENE E 51 52 Sh ared Scar ch iS http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29 30 3 18 1975 50 40 9 2014 3 11 2
98. 3 EIN 0 5 0 3 0 4 0 4 0 8 1 0 1 2 1 2 1 5 1 3 SA 0 3 0 2 0 2 0 2 0 1 0 3 0 3 0 2 0 1 0 1 4 4 4 6 4 7 4 3 5 1 4 9 5 2 5 3 4 9 5 4 SR 8 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 Ej 22 119 24795 24945 24 760 24233 24978 26 538 25 939 8 640 8 524 8 526 8 340 7 893 7 496 7 235 6 967 7 586 6 473 6 689 7 179 7 183 7 189 7 937 8 165
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100. 68 5 67 8 69 6 69 9 67 7 68 7 PA UTE 81 5 82 0 81 2 78 6 80 4 90 6 78 8 78 1 U ZAE 3 8 0 19 9 20 8 27 7 29 6 24 9 26 8 75 6 79 5 82 1 85 0 84 4 80 9 78 3 80 2 SR 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 EPE 759 8 749 4 820 0 746 1 748 9 745 4 779 3 722 0 1 2 1 1 1 2 1 1 1 1 1 1 1 1 1 0 SR Shared esearch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29 2008 3
101. 7 15 3 14 6 13 7 17 8 23 6 24 1 23 9 23 9 24 4 24 8 23 9 25 0 26 6 20 5 15 5 H 35 0 36 8 34 4 31 0 32 6 35 1 38 8 42 8 44 0 47 7 SR 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 1 5 1 5 1 5 1 6 1 6 1 5 1 4 1 4 1 4 1 4 2 4 2 4 2 5 2 6 2 6 2 5 2 4 2 1 2 1 11 8 11 3 10 1 10 7 11 9 13 0 15 2 17 9 18 4 19 4 47 2 49 4 48 2 44 7 45 5 46 0 48 6 SES 46 0 43 8 SR 2005 3 2010 3 2015 3 4 919 ADA
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104. http www onisifoods co jp 100 http www kameda cn KAMEDA USA INC 7 VER 100 http www kamedausa com THAI KAMEDA CO LTD _ 9 gt 100 http www thaikameda com main php Mary s Gone Crackers Inc 7 27 amp 84 5 http www marysgonecrackers com TH FOODS INC _
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106. 2 1 292 63 0 25 0 79 3 58 1 17 3 14 8 123 8 38 5 29 1 2 1 7 5 7 3 0 8 55 7 6 1 7 18 7 4 5 4 609 34 1 897 1821 458 164 1 818 2 089 611 636 2 265 1 645 52 6 26 0 63 4 24 8 4 296 14 79 6 33 3 288 0 24 6 21 3 3 1 84 84 2 1 0 8 7 1 8 7 2 7 2 8 8 6 6 9 397 50 1 428 1 067 513 131 1 045 1432 346 380 1333 1 310 47 8 171 4 45 5 29 3 26 8 34 1 32 7 189 2 27 6 8 5 2 0 63 4 9 24 0 6 4 1 5 9 1 5 1 7 51 5 5 10 20 3Q 40 10 20 30 40 10 20 30 40 19 428 37 038 59 666 81 324 21 680 43 203 68 712 92 833 22 400 44 776 71 029 94 849 99 8 95 000 2 6 1 2 1 0 3 2 11 6 16 6 15 2 14 2 3 3 3 6 3 4 2 2 2 3 7 707 14 517 24 382 33 777 8 848 17 140 28 267 39 087 9 440 18 573 30 342 40 937 7 8 4 2 0 1 3 2 14 8 18 1 15 9 15 7 6 7 8 4 7 3 4 7 39 7 39 2 40 9 41 5 40 8 39 7 41 1 42 1 42 1 41 5 42 7 43 2 7 301 14 312 22 473 30 280 8 677 17 066 26 784 35 791 9 059 17 784 27 601 36 905 z 0 5 1 9 2 5 3 1 18 9 19 2 19 2 18 2 4 4 4 2 3 1 3 1 5 37 6 38 6 37 7 37 2 4
107. 27 68 29 66 27 60 45 19 45 19 44 18 38 16 38 16 187 79 190 79 190 7 2 426 100 0 2 436 100 0 2 376 100 0 2 414 100 0 2 394 100 0 14 HEM 30 14 30 13 39 17 39 17 39 16 37 15 37 15 0 461 21 0 515 226 498 213 415 17 8 397 163 321 13 1 288 118 KEAR 2 199 100 0 2 282 100 0 2 334 100 0 2 329 100 0 2 436 100 0 2 447 100 0 SR 1962 37 8 10 JASDAQ 2221 1954 29 F 4 1949 24 2 2010 22 Befco
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111. 5 0 5 2 5 1 4 8 4 9 7 1 6 7 7 1 7 0 7 0 6 9 8 0 8 0 SR 2014 3 1990 2000 3 2000 2006
112. 72 2 988 3 636 4 598 197 4 182 245 285 360 367 94 10 11 30 33 34 33 4 021 3 938 4 059 4 294 4 530 TA 6 100 2 101 2 112 2 278 2 842 3 121 3 369 4 000 100 0 100 0 100 0 100 0 100 0 100 0 100 0 95 8 95 3 95 4 94 9 94 9 94 8 94 7 3 2 3 5 3 7 4 0 4 0 4 2 4 2 1 1 1 1 1 0 1 1 1 1 1 1 1 1 100 0 100 0 100 0 100 0 100 0 100 0 100 0 91 6 99 6 94 3 92 1 90 4 90 2 92 0 5 7 0 1 5 4 7 0 8 6 8 9 7 3 2 7 0 3 0 3 0 9 1 0 0 8 0 7 SR 2015 3 94 896 90 296 10 3 11 3 12 3 13 3 14 3 15 3 75 982 76 133 75 133 77 156 88 101 89 870 92 819
113. 816 2 735 2 800 3 757 4 354 2 319 13 062 14 781 13 809 14 632 15 692 14 613 15 677 18 060 19 059 17 008 2 037 1 401 810 411 1 470 3 135 2 235 3 846 2 356 2 600 9 821 8 968 8 030 7 736 8 696 10 277 8 850 12 276 9 338 7 151 22 883 23 749 21 840 22 369 24 388 24889 24 527 30 336 28 396 24 159 23 957 25 694 26 362 27 178 28403 29 198 30 586 34 329 38 443 43 887 4 605 3 937 3 301 2 783 4 286 5 870 5 035 7 603 6 710 4 919 3 882 4 518 5 069 4 445 5 573 4 297 5 803 5 229 5 937 7 638 2 892 1 790 3 790 2 918 4 434 5 984 3 184 8 044 5 423 4 723 436 983 1 191 1 312 455 555 1 836 1 482 1 628 2 595 ROA 6 8 6 9 7 2 6 8 7 9 7 4 7 4 7 2 6 9 7 6 ROE 6 3 7 8 7 2 7 2 7 6 7 4 7 7 8 9 8 7 8 3 50 8 51 7 54 5 54 4 53 3 53 6 55 1 51 9 56 6 63 6 SR http www sharedresearch j
114. A Ra TH FOODS INC THA KAMEDA CO LTD KAMEDA USA ING http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved Shared Mesearch 22 20 SR Research Report 2015 7 29 j EME ARPA 2015 3 4 2 8 996 10 3 11 3 12 3 13 3 14 3 15 3 2 313 2 827 2 898 9258 3 724 3 958 4 135 0 2 12 5 2 596 12 2 14 5 6 3 4 5 197 4 182 245 285 360 367 16 2 98 0 4450 0 34 6 16 3 26 3 1 9 7 8 0 1 6 3 7 5 7 7 9 1 8 9 3 2 3 5 3 7 4 0 4 0 4 2 4 2 5 7 0 1 5 4 7 0 8 6 8 9 7 3 SR 1974 49 CEREAL
115. Copyright C 2014 Shared Research Inc All Rights Reserved 22 20 SR Research Report 2015 7 29 2005 3 45 351 2014 3 66 840 2008 3 10 1 2014 3 18 4 3 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 7 7 7 4 7 6 8 2 8 0 7 9 7 5 7 1 7 9 8 3 47 2 49 4 48 2 44 7 45 5 46 0 48 6 51 5 46 0 43 8 30 8 32 4 36 2 34 2 30 8 28 0 23 9 20 4 19 8 18 8 11 8 11 3 10 1 10 7 11 9 13 0 15 2 17 9 18 4 19 4 15 2 15 3 15 3 15 0 14
116. d Research Inc All Rights Reserved F a 22 20 SR Research Report 2015 7 29 Y 06 3 07 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 15 3 71 313 72 450 74 736 77 541 79 354 79 859 78 789 81 324 92 833 94 849 1 3 1 6 3 2 3 8 2 3 0 6 1 396 3 296 14 2 2 2 42 882 43 093 44849 46 554 46 907 47 166 46 055 47 547 53 745 53 912 28 431 29 357 29 887 30 987 32 447 32 693 32 734 33 777 39 087 40 937 3 1 3 3 1 8 3 7 4 7 0 8 0 1 3 2 15 7 4 7 ES 39 9 40 5 40 0 40 0 40 9 40 9 41 5 41 5 42 1 43 2 25 439 26 116 26 549 27 859 28 966 29 363 29 370 30 280 35 791 36 905 ES 35 7 36 0 35 5 35 9 36 5 36 8 37 3 37 2 38 6 38 9 2 993 3 240 3 339 3 128 3 481 3 330 3 365 3 497 3 306 4 032 14 2 8 3 3 0 6 3 11 3 4 3 1 0 3 9 5 5 22 0 ESTAS 4 2 4 5 4 5 4 0 4 4 4 2 4 3 4 3 3 6 4 3 350 206 283 305 647 812 906 998 1 346 1 241 EEJ 210 115 115 119 107 204 212 201 122 116 3 133 3 331 3 506 3 314 4 021 3 938 4 059 4 294 4 530 5 157 17 5 6 3 5 3 5 5 21 3 2 1 3 1 5 8 5 5 13 9 PARK 4 4 4 6 4 7 4 3 5 1 4 9 5 2 5 3 4 9 5 4 1
117. p Copyright C 2014 Shared Research Inc All Rights Reserved 2220 SR Research Report 2015 7 29 ME a P Sh ared KWeSGaT ch http www sharedresearch jp Copyright C 2014 Shared Research Inc All Rights Reserved j a 22 20 SR Research Report 2015 7 29 13 3 14 3 15 3 EJA 10 2 3 4Q 10 22 3Q Q R Q 3Q 4 19 428 17 610 22 628 21 658 21 680 21 523 25 509 24 120 22 400 22 377 26 252 23 821 2 6 0 3 4 8 10 0 11 6 22 2 12 7 11 4 3 3 4 0 2 9 1 2 7 707 6 810 9 865 9 395 8 848 8 292 11 127 10 821 9 440 9 133 11 769 10 595 7 8 0 2 6 5 12 9 14 8 21 8 12 8 15 2 6 7 10 1 5 8 2 1 39 7 38 7 43 6 43 4 40 8 38 5 43 6 44 9 42 1 40 8 44 8 44 5 REE 7 301 7 012 8 160 7 808 8 677 8389 9 717 9 008 9 059 8 725 9 817 9 304 0 5 3 5 3 4 5 0 18 9 19 6 19 1 15 4 44 40 1 0 3 3 37 6 39 8 36 1 36 1 40 0 39 0 38 1 37 3 40 4 39 0 37 4 39 1 407 202 1 705 1587 170 97 1 410 1823 381 408 195

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