1 2017 3 2 (2016.11.15)

2017 3 2 (2016.11.15) 2

1.

2.

3.

<

2017 3 2 (2016.11.15) 3

. 2017

2017 3 2 (2016.11.15) 4

( )

18,285 17,752

12,000

14,000

16,000

18,000

20,000

2016/3 2Q 2017/3 2Q

532 2.9

17,752

532

2.9

947

5.1

1

2017 3 2 (2016.11.15) 5

924

475

106.0

274

42.2

( )

448

924

0

200

400

600

800

1,000

2016/3 2Q 2017/3 2Q

475 106.0

1

2017 3 2 (2016.11.15) 6

( )

365

688

0

200

400

600

800

2016/3 2Q 2017/3 2Q

688

322

88.2

88

14.8

322 88.2

246

1

2017 3 2 (2016.11.15) 7

( )

147

405

0

100

200

300

400

2016/3 2Q 2017/3 2Q

258 175.5

405

258

175.5

105

35.1

1

2017 3 2 (2016.11.15) 8

13,744

12,832

745

1,066

400

600

800

1,000

1,200

1,400

6,000

8,000

10,000

12,000

14,000

16,000

2016/3 2Q 2017/3 2Q

( )

( )

12,832

912

6.6

1,066

320

43.0

1

2017 3 2 (2016.11.15) 9

1

2017 3 2 (2016.11.15) 10

4,540

4,920

412

526

0

200

400

600

800

2,000

3,000

4,000

5,000

6,000

2016/3 2Q 2017/3 2Q

( )

( )

4,920

380

8.4

526

114

27.7

1

2017 3 2 (2016.11.15) 11

1

2017 3 2 (2016.11.15) 12

Chicago

Vyse Gelatin

Vyse Gelatin, LLC

1

2017 3 2 (2016.11.15) 13

1

Gelatin Company 1927

2017 3 2 (2016.11.15) 14

/ /

19,657 19,367 290 2,688 1,917 771

7,375 7,239 135 8,967 9,465 +498

627 744 +117 17,940 17,286 653

13,724 12,986 737 357 722 +364

3,858 3,577 281

37,597 36,653 944

/ /

11,076 10,954 122 4,252 4,054 198

4,402 4,550 +147 2,421 2,349 71

9,644 9,380 263 5,380 5,367 12

2,938 2,764 173 1,325 1,247 77

20,720 20,334 386 15,680 15,974 +293

707 1,427 719 1,904 1,772 131

16,876 16,318 558

37,597 36,653 944

(B/S)

1

2017 3 2 (2016.11.15) 15

/ Q

/ Q

659 430 879 1,668 17 372

274 713 2,313 1,823

CF

CF

CF

(C/F)

1

2017 3 2 (2016.11.15) 16

97.1%

97.0%

2016/3 22016/9

4.2%

2.6%

1.0%

1.6%

24.4%

25.7%

32.8%

32.7%

37.7%

37.4%

2016/3 22016/9

,

589

, ,

1

2017 3 2 (2016.11.15) 17

< >

< >

( )

( )

100 500

1,000 ( )

500

3,000 ( )

1

2017 3 2 (2016.11.15) 18

.

2017 3 2 (2016.11.15) 19

( /US$)

100

105

110

115

120

125

9/05

10/0

310

/31

11/2

812

/26

1/23

2/20

3/20

4/17

5/15

6/12

7/10

8/07

9/04

10/0

210

/30

11/2

712

/25

1/22

2/19

3/18

4/15

5/13

6/10

7/08

8/05

9/02

9/30

( TTM )

2014 2015 2016

2

2017 3 2 (2016.11.15) 20

2

2017 3 2 (2016.11.15) 21

/ ( )

/ ( )

/ ( )

36,885 38,200 35,000 3,200 8.4%

1,273 1,500 1,700 200 13.3%

3.5% 3.9% 4.9%

979 1,400 1,400

2.7% 3.7% 4.0%

477 800 800

1.3% 2.1% 2.3%

2

2017 3 2 (2016.11.15) 22

14,311 14,029

16,035 16,146

18,285 17,752 1,265

891

545

270

448

924

0

400

800

1200

1600

0

5,000

10,000

15,000

20,000

2011/9 2012/9 2013/9 2014/9 2015/9 2016/9

2

( ) ( )

2017 3 2 (2016.11.15) 23

27,763 28,772

32,814 31,914

36,885

35,000 2,015

1,595

955

392

1,273 1,700

0

500

1,000

1,500

2,000

0

10,000

20,000

30,000

40,000

2012/3 2013/3 2014/3 2015/3 2016/3 2017/3

( ) ( )

2

2017 3 2 (2016.11.15) 24

.

2017 3 2 (2016.11.15) 25

3

2017 3 2 (2016.11.15) 26

3

27 2017 3 2 (2016.11.15)