Summary of Consolidated Financial Results for the First Quarter of
the Year Ending March 31, 2024 (FY2023)<Based on Japanese GAAP>
August 7, 2023
Company name:
ASKA Pharmaceutical Holdings Co., Ltd.
Stock exchange listing:Tokyo
Stock code:4886
URL https://www.aska-pharma-hd.co.jp/english/
Representative：
President and Representative Director
Takashi Yamaguchi
Inquiries：
Corporate Planning Department Director
Hideaki Kobayashi
Scheduled date to file Securities Report：
August 7, 2023
Scheduled date to commence dividend payments：
Preparation of supplementary material on financial results：
Yes
Holding of financial results meeting：
NoTEL +81-3-5484-8366(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the first quarter ended June 30, 2023 (from April 1, 2023 to June 30, 2023)(1) Consolidated operating results
Percentages indicate year-on-year changes
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%First quarter of FY2023
16,023
4.9
1,704
2.4
1,809
0.2
1,428
8.0
First quarter of FY202215,269
7.4
1,664 40.1
1,805 35.8
1,323 20.4
(Millions of yen)
2,563
(43.0%)
Note: Comprehensive income
First quarter of FY2023
First quarter of FY2022(Millions of yen)
1,792
(81.8%)
Earnings per share
Yen
50.51
46.94

First quarter of FY2023
First quarter of FY2022

Diluted earnings pershareYen-(2) Consolidated financial position

As of June 30, 2023
As of March 31, 2023
Reference: Tangible net worth

Total assets
Millions of yen
89,166
87,138

Net assets
Millions of yen
56,88154,533As of June 30, 2023

(Millions of yen)

56,881

As of March 31, 2023

(Millions of yen)

54,533Equity ratio%
63.8
62.6

2. Cash dividends
1st quarter-end
Yen-

Annual dividends per share
2nd quarter-end 3rd quarter-end Fiscal year-end
Yen
Yen
Yen
8.00
8.00

Year ended March 31, 2023
Year ending March 31, 2024
Year ending March 31, 2024
10.00
(Forecast)
Note: Revision from dividend forecast currently announced: No-

10.00

Total
Yen
16.00
20.00

3. Forecast of consolidated financial results for the year ending March 31, 2024 (from April 1, 2023 to March 31, 2024)Percentages indicate year-on-year changes
Net sales

Full year

Millions of yen
62,000Operating profit% Millions of yen
2.5
5,400

Ordinary profit% Millions of yen
5.7
5,500

Note: Revision from dividend forecast currently announced: NoProfit attributable toowners of parent% Millions of yen
5.1
4,400

%
3.8

Earnings per shareYen
155.81

Notes:(1) Changes in significant subsidiaries during the first quarter of FY2023(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No
Changes in accounting policies due to other reasons:No

Changes in accounting estimates:

No

Restatement of prior period financial statements:

No(4) Number of shares issued (ordinary shares)
1) Total number of shares issued at the end of the period (including treasury shares)
As of June 30, 2023

30,563,199As of March, 2023

30,563,199

As of March, 2023

2,280,0612) Number of treasury shares at the end of the period
As of June 30, 2023

2,271,215

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
First quarter of FY2023

28,286,941

First quarter of FY2022

28,187,342* This report of financial results is not subject to auditing by a certified public accountant or audit firm.
* Explanation concerning appropriate use of projections of business results and other notes
Projections of business results and other forward-looking statements contained in this document are based on assumptions
judged to be reasonable and information currently available to the Company, and the Company does not in any way guarantee
the achievement of the projections. Actual business results may materially differ from the forecasted figures due to various
factors in the future. Please refer to "1. Qualitative Information on Quarterly Financial Results, (3) Description of Forward-looking
Information such as Forecasts of Consolidated Financial Results" for the assumptions used in forecasting business results andprecautions regarding the use of business results forecasts.

ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

CONTENTS
1.

Qualitative Information on Quarterly Financial Results……………………………………………………………….
(1) Description of Operating Results……………………………………………………………………………………
(2) Description of Financial Position…..………………………………………………………………………………..
(3) Description of Forward-looking Information such as Forecasts of Consolidated Financial Results…..……..
(4) Description of Research and Development…..……………………………………………………………………
2. Quarterly Consolidated Financial Statements ...………………………………………………………………………
(1) Quarterly Consolidated Balance Sheets…..……………………………………………………………………….
(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
Income…………………………………………………………………………………………………………………
Quarterly Consolidated Statements of Income
First quarter of the consolidated fiscal year………………………………………………………………………
Quarterly Consolidated Statements of Comprehensive Income
First quarter of the consolidated fiscal year……………………………………………………………………..
(3) Notes to the Quarterly Consolidated Financial Statements……...………………………………………………
(Notes concerning the going-concern assumption) ………………………………………………………………
(Significant changes in the amount of shareholders' equity)………………………………………………..……
(Segment information)…....……………………………………………………………………………….…………
3.

Supplemental Material……………………………………………………………………………………………………
(1) Sales of Main Products of the Business Companies……...………………….………………………..…………

- 1 -2223344556777788ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

1. Qualitative Information on Quarterly Financial Results(1) Description of Operating Results
During the first quarter of the consolidated fiscal year, despite a gradual return to normal in social activities in
response to developments including progress in balancing economic activities with prevention measures for COVID19, future prospects remained uncertain as a result of factors such as rising costs due to a rapid decrease in thevalue of the yen on international currency markets and rising prices of energy and raw materials as well as the global
economic impact of the prolonged Ukraine situation. Even under such conditions, however, the favorable trend in theGroup's businesses continued from the previous fiscal year. Thus, both sales and profit increased from the same
period of the previous year.
Operating Results during the first quarter of the consolidated fiscal year are described below.
First quarter ofFirst quarter ofFY2023
FY2022
ActualConsolidated
Consolidated
Cumulative Period
Cumulative Period(Millions of yen)
(Millions of yen)
(Millions of yen)
Net sales

Growth(%)

15,26916,023753

4.9

Operating profit

1,664

1,704

39

2.4

Ordinary profit

1,805

1,809

30.2

Profit attributable toowners of parent

1,323

1,428

105

8.0

Business results by segment are described below.
(i) Pharmaceutical business
The pharmaceutical business, which focuses on the three fields of internal medicine, obstetrics and gynecology, andurology, showed favorable trends overall, despite the impact of the periodical NHI drug price revisions. A look atresults by product shows that results in the obstetrics and gynecology area were driven by the favorable growth in
the uterine fibroid and endometriosis agent RELUMINA (relugolix), to 2,576 million yen (up 14.0% YoY). In addition
to these, sales of the dysmenorrhea agent DroEthi (drospirenone/ ethinylestradiol), which went on sale in June 2022,
increased significantly to 1,401 million yen (up 240.1% YoY), following the previous year. Sales also grew steadily in
the internal medicine area, as sales of the thyroid hormone agent THYRADIN (levothyroxine), our main product inthis field, grew to 2,062 million yen (up 1.1% YoY) and those of the poorly absorbable rifamycin antimicrobial agent
RIFXIMA (rifaximin) to 1,525 million yen (up 8.6% YoY). In the urology field, sales of the LH-RH derivative
microcapsule sustained-release agent LEUPRORELIN were 1,192 million yen (down 12.2% YoY).
As a result of the above factors, the segment sales were 14,420 million yen (up 5.7% YoY), and the segment profit
was 2,021 million yen (up 17.0% YoY).
(ii) Animal health business
Sales of the animal health business, which sells products such as veterinary pharmaceuticals and feed additives,
were 1,560 million yen (down 2.1% YoY), maintaining the same level as the previous year. However, the segment
loss was 1 million yen (vs. a profit of 124 million yen in the same period of the previous year) due to rising costs of
raw materials and other items.
(iii) Other businesses
Sales of the other businesses, which include clinical testing, medical devices, etc., were 42 million yen (up 44.1%YoY) because sales of the hair-growth hormone measurement kits made a positive contribution. However, thesegment loss was 27 million yen (vs. a loss of 18 million yen in the same period of the previous year) due to anincrease in selling expenses.
* For sales of main products, please refer to 3. Supplemental Material.
(2) Description of Financial Position(Assets)
Total assets at the end of the first quarter of the consolidated fiscal year under review stood at 89,166 million yen, up
2,028 million yen from the end of the previous consolidated fiscal year under review. This figure was due primarily toincreases in investment securities, and accounts receivable - trade.

- 2 -ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

(Liabilities)
Total liabilities at the end of the first quarter of the consolidated fiscal year under review stood at 32,285 million yen,down 318 million yen from the end of the previous consolidated fiscal year. This figure was due primarily to decreases
in short-term borrowings and long-term borrowings, despite a decrease in accounts payable – trade(Net assets)
Total assets at the end of the first quarter of the consolidated fiscal year under review stood at 56,881 million yen, up
2,347 million yen from the end of the previous consolidated fiscal year. This figure was due primarily to an increase
in retained earnings resulting from the recording of profit attributable to owners of parent and an increase in valuationdifference on available-for-sale securities reflecting rising share prices.
The resulting equity ratio was 63.8%, up 1.2 percentage points from the end of the previous consolidated fiscal year.
(3) Description of Forward-looking Information such as Forecasts of Consolidated Financial Results
Forecasts of consolidated financial results for the period ending March 31, 2024 (FY2023) are unchanged from thefull-year consolidated performance forecasts in the “Summary of Consolidated Financial Results for the Year Ended
March 31, 2023 (FY2022),” published on May 11, 2023.
(4) Description of Research and development
R&D expenses during the first quarter of the consolidated fiscal year under review stood at 941 million yen.

- 3 -ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

2. Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Millions of yen)
As of March 31, 2023
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
OtherTotal current assets
Non-current assets
Property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Other provisions
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeTotal net assets
Total liabilities and net assets- 4 -As of June 30, 2023

14,505
15,2173,400
10,815
429
6,443
2,948
53,75915,183
16,3702,900
10,158
452
6,891
3,087
55,043

10,796
4,465

10,698
4,018

14,3853,748
ሺ17)18,11733,37887,13816,3383,085
ሺ17)19,40634,12389,166

2,838
3,022
3,438
1,167
7,182
17,650

4,843
2,677
2,885
564
7,702
18,673

9,185
5,433
335
14,95432,604

7,765
5,511
336
13,61232,285

1,197
1,847
49,619(3,350)49,315

1,197
1,847
50,821(3,340)50,527

4,590

5,668

405
222

471
214

5,218

6,353

54,53387,13856,881
89,166

ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(First quarter of the consolidated fiscal year)(Millions of yen)Three months ended
June 30, 2022
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Expenses of inactive non-current assets
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Profit before income taxes
Income taxes - currentIncome taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent- 5 -Three months ended
June 30, 2023

15,269
8,017
7,252
5,587
1,664

16,023
8,559
7,463
5,759
1,704

0
177
34
212

0
178
19
197

13
13
44
71
1,805

11
35
46
93
1,809

－
－
1,805
199
283
482
1,323
1,323

64
64
1,873
346
98
444
1,428
1,428

ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

(Consolidated Statements of Income)(First quarter of the consolidated fiscal year)(Millions of yen)Three months ended
June 30, 2022
ProfitOther comprehensive income
Valuationdifferenceonavailable-for-salesecurities
Remeasurements of defined benefit plans, net oftax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent- 6 -Three months ended
June 30, 2023

1,323

1,428323

1,0766ሺ7)

13966

469
1,792

1,135
2,563

1,792

2,563

ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

(3) Notes to the Quarterly Consolidated Financial Statements(Notes concerning the going-concern assumption)
Not applicable.
(Significant changes in the amount of shareholders' equity)
Not applicable.
(Segment information)
I. Previous first quarter of the consolidated fiscal year (from April 1, 2022 to June 30, 2022)
Net sales and profit or loss by reporting segment(Millions of yen)
Reporting-segment

Others
Note 1.

Amountrecorded onAmounts ofconsolidated
adjustments
financial
Note 2.
statements

Total

Pharmaceutical Animal healthbusinessbusiness

Note 3.

Net Sales
Sales to externalcustomers
Intersegment sales
and transfers

13,646

1,593

29

15,269－15,269－－1515ሺ15)－

Total

13,6461,593

44

15,284

ሺ15)

15,269Segment profit/loss

1,728124ሺ18)

1,833

ሺ169)

1,664

Notes:
1. The “Other” business segment consists of businesses not included in the reporting segments,
including clinical testing and medical devices, etc.
2. The adjustment of (169) million yen to segment profit or loss (numbers in parentheses) consists ofcompanywide expenses not allocated to individual business segments, which consist mainly ofgeneral and administrative expenses not attributable to business segments.
3. Segment profit or loss (numbers in parentheses) is adjusted against operating profit on the quarterly
consolidated statements of income.
II.

Current first quarter of the consolidated fiscal year (from April 1, 2023 to June 30, 2023)
1 Net sales and profit or loss by reporting segment(Millions of yen)Amountrecorded on
Amounts ofconsolidatedadjustments
financial
Note 2.
statements

Reporting-segment
OthersPharmaceutical Animal healthbusinessbusiness

Note 1.

Total

Note 3.

Net Sales
Sales to externalcustomers
Intersegment sales
and transfers

14,4201,560

42

16,023－16,023－－1313ሺ13)－

Total

14,4201,560

55

16,036

ሺ13)

16,023

Segment profit/loss

2,021

(1)

(27)

1,993

ሺ288)

1,704

Notes:
1. The “Other” business segment consists of businesses not included in the reporting segments,including clinical testing and medical devices, etc.
2. The adjustment of (288) million yen to segment profit or loss (numbers in parentheses) consists ofcompanywide expenses not allocated to individual business segments, which consist mainly ofgeneral and administrative expenses not attributable to business segments.
3. Segment profit or loss (numbers in parentheses) is adjusted against operating profit on the quarterly
consolidated statements of income.
- 7 -ASKA Pharmaceutical Holdings Co., Ltd. (stock code: 4886) Consolidated Financial Results for the First Quarter of the Year Ending March 31, 2024

3.

Supplemental Material(1) Sales of Main Products of the Business Companies
S a l e s(FY

2o f02M a i n31P r o d u c t sQActual)

ASKA Pharmaceutical Co., Ltd.

(Millions of yen)
FY2022

Therapeutic category

Products

1Q
ActualFY2023

FY2022
Actual

1Q
ActualFY2023
Forecast

1Q Actual
YOY(%)

Antihypertensive agent

CANDESARTAN*(candesartan)

2,859

10,723

2,599

9,268

ሺ9.1)

Uterine fibroid andendometriosis agent

RELUMINA(relugolix)

2,259

8,839

2,576

10,12814.0

Thyroid hormone agent

THYRADIN(levothyroxine)

2,040

7,733

2,0627,833

1.1

Poorly absorbable rifamycin
antimicrobial agent

RIFXIMA(rifaximin)

1,404

5,397

1,525

5,578

8.6

Dysmenorrhea agent

DroEthi(drospirenone/ethinylestradiol)

412

3,671

1,401

4,165

240.1

LH-RH derivative
microcapsule sustainedrelease agent

LEUPRORELIN(leuprorelin)

1,357

4,999

1,192

4,828

ሺ12.2)

Dysmenorrhea agent

FREWELL(norethisterone/ethinylestradiol)

888

3,489

832

3,407

(6.2)

Progesterone hormone agent

LUTEUM(progesterone)

214

1,251

440

1,363

105.0

Antithyroid agent

MERCAZOLE(thiamazole)

390

1,486

398

1,513

2.0

Antihypertensive agent

AMLODIPINE(amlodipine)

242

901

225844ሺ6.9)* Including compounding agents

ASKA Animal Health Co., Ltd.

(Millions of yen)
FY2022Business field

Feed additives and materials, and mixed feed

Veterinary pharmaceuticals

1Q
ActualFY2023

FY2022
Actual

1Q
ActualFY2023
Forecast

1Q Actual
YOY(%)

1,041

4,152

965

3,832

ሺ7.3)

503

2,370

576

2,490

14.5

- 8 -