November 6, 2023

Supplementary Documents of Consolidated
Financial Results for the Second Quarter of the YearEnding March 31, 2024 (FY2023)

Securities code：4886 (TSE)
ASKA Pharmaceutical Holdings Co., Ltd.

Highlight
2Q FY2023 (Consolidated)✓ 31.6 billion yen, up 4.9% YOY
Net sales

The pharmaceuticals business remained strong, with record-high sales.

16.4 billion yen, up 0.6 percentage points YOY✓
Cost of sales
The product mix improved due to growth in Brand-name drugs such as RELUMINA,
THYRADIN, and RIFXIMA.

SG&A
expenses✓ 12.1 billion yen, up 0.4 percentage points YOY

Operatingprofit✓ 3.0 billion yen, up 6.1% YOY

Impacted by an increase in business activity expenses due to the normalization of economic
activities.
Despite increases in SG&A and R&D expenses, the increased sales and gross profit boosted
profits.

【Reference】 Financial Forecast Revisions announced on September 25, 2023
Profit attributableto owners ofparent✓ 6.2 billion yen, a 1.8 billion yen increase from the previous announcement (May 11)
Revised upward due to a record of a gain on sales of investment securities.

2Statements of Income (Consolidated)(Millions of yen)

FY2022 Apr - Sep
ActualFY2023 Apr - Sep
ActualActual +/-Growth +/-Net sales

30,172

31,648

1,475

4.9%

Operating profit

2,879

3,055

176

6.1%

Ordinary profit

2,987

3,096

108

3.6%

Profit attributable toowners of parent

2,346

4,129

1,783

76.0%

Major factors for the increase The future outlook remains uncertain as a result of factors such as rising costs due to a rapid decrease in
the value of the yen on international currency markets and rising prices of energy and raw materials. Even
under such conditions, however, the favorable trend in the Group‘s businesses continued from the previous
fiscal year. Profit attributable to owners of parent increased due to a gain on sales of investment securities.

3Net Sales by Business (Consolidated)
FY2022 Apr - Sep
ActualFY2023 Apr - Sep
ActualPharmaceuticalbusiness

26,851

28,404

89.7%

1,553

5.8%

Animal healthbusiness

3,234

3,162

10.0%

-71-2.2%

8680

0.3%

-5-6.6%30,172

31,648100.0%

1,475

4.9%

(Millions of yen)OtherbusinessesTotal

Breakdown

Actual +/-Growth +/-Major factors for the increase/decrease
The pharmaceutical business showed favorable trends overall despite the impact of the NHI drug price revision. Sales of “RELUMINA" and "FREWELL" continued
to increase from the previous year, and "DroEthi", launched in June 2022, remained strong. Steady growth of "THYRADIN" and "RIFXIMA."

Sales of the animal health business, centered on veterinary pharmaceuticals and feed additives products maintained the same level as the previous year despite
the rising costs of raw materials and other items..

4Sales of Main Products (ASKA Pharmaceutical Co., Ltd.)
Area

Category

Internal Medicine

FY2023

ActualYOY

Revised
Forecast

Reference
YOY

Notes

Previous
Forecast

5,477

4,952-9.6%

9,438-12.0%

Brand-name

THYRADIN

3,921

4,000

2.0%

7,823

1.2%

7,833 Progress as expected

Brand-nameRIFXIMA

2,757

2,997

8.7%

5,671

5.1%

5,578 Sales grew as guideline penetration increased

Brand-name

MERCAZOLE

761

776

1.9%

1,515

1.9%

1,513 Progress as expected

AMLODIPINE

465430-7.4%

844-6.2%

844 Progress as expected

RELUMINA

4,524

5,18614.6%

10,234

15.8%

Generic

DroEthi

1,279

2,909

127.4%

5,370

46.3%

4,165 Progress than expected

AGFREWELL

1,765

1,663-5.8%

3,329-4.6%

3,407 expected

Brand-name

LUTEUM

569

876

53.8%

1,462

16.9%

1,363 external factors, etc.

Brand-name

ANGE

420

367-12.6%

713-9.0%

799 Decreased due to shift to other companies' products

Brand-name

MAGSENT * 2

309

355

14.9%

711

13.4%

750 The NHI price increases reflected in its figure

2,619

2,321-11.4%

4,494-10.1%

Generic

Obstetrics and Gynecology

ActualFY2023Apr - Sep

CANDESARTAN * 1AGUrology

Products(generic name)

FY2022
Apr - Sep

(Millions of yen)

Brand-nameGeneric(candesartan)(levothyroxine)(rifaximin)(thiamazole)(amlodipine)(relugolix)(drospirenone/ethinylestradiol)(norethisterone/ethinylestradiol)(progesterone)(levonorgestrel/ethinylestradiol)(magnesium sulfate)

LEUPRORELIN * 3(leuprorelin)* 1 Including compounding agents* 3 1.88mg formulation is for gynecological indications only but combined with 3.75mg formulation* 2 Total value of magnesium sulfate preparation

The NHI drug price decreased, but sales on a

9,268 quantity basis maintained.

10,128 Continued penetration activities for endometriosis
Increased sales volume but less than initially
Growth due to lifting of shipping restrictions,Continued switch to other products from the initial

4,828 forecast

5Sales by Major Business Field (ASKA Animal Health)(Millions of yen)

Business field

Feed additives andmaterials, Mixed
feed
Veterinary
pharmaceuticals(livestock and fisheries +*CA)

FY2022 Apr - SepActual

FY2023 Apr - Sep
ActualYOY

FY2023
Forecast

Reference
YOY

Previous forecast

2,062

1,873-9.1

3,484-16.1%

3,832

1,081

1,189

10.0

2,415

1.9%

2,490

Major factors for increases/decreases Market conditions for feed additives remained uncertain, although there were trends toward a bottoming out of themarket.
 Sales of veterinary drugs remained steady, centering on TRILOSTANE TABLETS " ASKA," launched last year, andhormone agents.
* Companion Animal
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Sales Proportion of Brand-name Drugs■ Brand-name drugs ■ Generic drugs
2Q FY2022

2Q FY2023

52.3%

53.2%

The product mix improved due to growth in RELUMINA, RIFXIMA, and THYRADIN, resulting in a 0.9 percentage point
increase in the ratio of brand-name drugs to sales despite the growth in DroEthi, Generic drug.

7

R&D Status
Trend of R&D expenses（Millions of yen）
Forecast

4,227

4,581
4,134(Forecast)

3,598

2,410
2Q Actual（2Q)

FY2021

FY2022

FY2023As of November 6, 2023
Development code (Generic name) / Indication

Phase

LF111 (drospirenone)
Contraception

PhⅢ(Option agreement)
Treatment for PMS/PMDD

PhⅡ(IIT *1)

AKP-022 (Relugolix combination tablet)
Uterine fibroids

PhⅠ/Ⅱ

TRM-270 (adhesion barrier)(Gastroenterology and Ob/Gyn)

PhⅢ

L-105 (rifaximin)
Hepatic encephalopathy (pediatrics)

Filed

AKP-009 (ludaterone acetate)
Benign prostatic hyperplasia

PhⅡ*2

AKP-017 (transnasal teststerone)(Urology)*1 Investigator-initiated clinical trial*2 PhI trial is being conducted again

Preparing
Development.

Note: Revised from the initial forecast for FY2023 (4,309)
8

【Reference】

Financial Forecast Revisions announced on September 25, 2023(Millions of yen)

FY2022
ActualFY2023

Previous Forecast

FY2023

Revised Forecast

YOY
Actual +/-YOY
Growth +/-60,46162,00062,000

1,538

2.5％

Operating profit

5,108

5,400

5,400

291

5.7％

Ordinary profit

5,232

5,500

5,500

267

5.1％

Profit attributable to ownersof parent

4,238

4,400

6,200

1,961

46.3％

Net sales

Analysis of Major factors
The Company is in the process of reducing its cross-shareholdings with the target of reducing its cross-shareholdings to lessthan 20% of consolidated net assets. As part of this effort, the Company plans to sell listed securities held by ASKA
Pharmaceutical Co., Ltd.
Based on current estimates; it expects to record a gain on sales of investment securities of approximately 2,700 million yen
an extraordinary gain. Accordingly, profit attributable to owners of parent is revised upward
9