Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2019
[Japanese GAAP] (Consolidated)
August 10, 2018
Name of Company
BrightPath Biotherapeutics Co., Ltd.
Listed Market Mothers, TSE
TSE Code4594
URL https://www.brightpathbio.com/english/
Representative (Title)
President & CEO(Name) Kenichi Nagai
Contact(Title)
Director/CFO(Name) Teruhiko Sakai(TEL) +81-3-5840-7697
Scheduled date of submission of quarterly report: August 10, 2018
Scheduled date of dividend payment commencement:―: None
Supplementary materials for quarterly financial statements: NoneBriefing of quarterly financial results(Millions of yen, rounded down to the nearest million)

1. Consolidated financial results for the first quarter of the fiscal year ending March 31, 2019
(April 1, 2018 – June 30, 2018)(1) Consolidated results of operation(Percentages represent changes from the same quarter of previous year)
Net sales
Million yen

Profit attributable toowners of parent

Operating income Ordinary income% Million yen% Million yen%

Million yen%-583-263――

Three months ended June 30, 201812234.7-397―-399―
Three months ended June 30, 201790―-262―-262―(Note) Comprehensive income
Three months ended June 30, 2018-583 Million yen ( ― %)Three months ended June 30, 2017
-264 Million yen ( ― %)Fully diluted net
income per share forthe quarter

Net income per sharefor the quarter
YenYenThree months ended June 30, 2018-13.94―Three months ended June 30, 2017
-7.08
―
｡
(Notes)1. The percentage increase (decrease) data for the first quarter of the fiscal year ended March 31, 2018 are not stated,because the company began preparing quarterly consolidated financial statements from the third quarter of the fiscal
year ending March 31, 2017.
2. Fully diluted net income per share for the quarter is not stated as net loss was recorded for this period although
there are residual shares.｡(2) Consolidated financial positions
Total assets

Net assets

Million yen

As of June 30, 2018
As of March 31, 2018
(Reference) Shareholders’ equity As of June 30, 2018

Equity ratio

Million yen

6,595
7,235
6,312 Million yen

%

6,376
6,950
As of March 31, 2018

95.7
95.3
6,893 Million yen

2. Dividends
Annual Dividends per share
End of 1QYen

End of 2Q

End of 3Q

Year-end

Annual

Yen

Yen

Yen

Yen

Fiscal Year ended March 31, 2018
―0.00
Fiscal Year ending March 31, 2019―
Fiscal Year ending March 31, 2019 (Forecast)
0.00(Notes) Corrections to most recently disclosed dividend projections : None

―

0.00

0.00

―

0.00

0.00

―1―

3. Consolidated financial forecast for the fiscal year ending March 31, 2019
(April 1, 2018 – March 31, 2019)
Net sales
Million yen(Percentages represent changes from the same period of previous year)
Profit attributable toNet income
Operating income Ordinary incomeowners of parent
per share
Million yen%

Yen

Full year150-57.7 -2,200― -2,200―-2,200(Notes) Corrections to most recently disclosed financial results projections : None% Million yen% Million yen%―-52.59｡[Notes](1) Changes in significant subsidiaries during the period (change in scope of consolidation): None(2) Application of special accounting methods for the preparation of quarterly consolidated: Nonefinancial statements｡｡(3) Changes in significant accounting policies, changes in accounting estimates and restatements
1) Changes in accounting policies due to revisions of accounting standards, etc.
: None2) Changes in accounting policies due to other reasons than above 1): None3) Changes in accounting estimates: None4) Restatements: None｡(4) Number of shares outstanding (common stock)1) Number of shares outstanding at theend of fiscal term (including treasurystocks)2) Number of treasury stocks at the endof fiscal term3) Average number of shares during thefiscal term (cumulative from beginningof quarter)

As of June 30,
2018
As of June 30,
201841,855,400 sharesТ sharesThree months
ended June 30,

As of March 31,
2018
As of March 31,
201841,835,400 sharesТ sharesThree months
41,851,224 shares ended June 30,

201837,220,735 shares

2017* These quarterly financial results are outside the scope of quarterly review.
* Explanations regarding appropriate use of forecasts and projections of financial results, and other specificnotes.
All forecasts and projections contained in this presentation are based on the information currently
available to the management and they are not intended to represent our promise to attain them as a goal.
Furthermore, due to various reasons, actual results may differ substantially.

―2―

Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance Sheets(Thousands of yen)
As of March 31, 2018
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Merchandise and finished products
Work in process
Raw materials and supplies
Advance payments - otherOther

As of June 30, 2018

6,528,759
77,012990
3,006
23,573
194,581
72,203

6,061,571
12,516
3,510
3,461
―
208,092
146,988

6,900,127

6,436,142

58,563191

00Tools, furniture and fixtures, net

207,594

111,541

Total property, plant and equipment

266,349

111,541

13,5140Total intangible assets

13,5140Investments and other assets
Other

55,91147,731

Total current assets
Non-current assets
Property, plant and equipment
Facilities attached to buildings, net
Machinery and equipment, netIntangible assets
Other

Total investments and other assets
Total non-current assets
Total assets

55,91147,731

335,775

159,273

7,235,902

6,595,415

Liabilities
Current liabilities
Accounts payable - trade
Income taxes payableAccounts payable - other
Other

8,769
35,041
163,729
21,56636,372
13,66564,277
40,833

Total current liabilities

229,107

155,148

31,46520,0594,700

36,576
21,974
5,167

Non-current liabilities
Net defined benefit liability
Asset retirement obligations
Deferred tax liabilities
Total non-current liabilities
Total liabilities―3―

56,22563,717285,332

218,866(Thousands of yen)
As of March 31, 2018
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Total shareholders' equity
Share acquisition rightsTotal net assets
Total liabilities and net assets―4―

As of June 30, 2018

5,419,931
5,403,516-3,929,896

5,420,931
5,404,516-4,513,251

6,893,551

6,312,196

57,01964,352

6,950,570

6,376,548

7,235,902

6,595,415

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income
For the First Three Months Ended June 30, 2018
(Thousands of yen)
For the three months ended
June 30, 2017

For the three months ended
June 30, 2018

90,63887,836

122,129
62,230Net sales
Cost of salesGross profit

2,801

59,898Selling, general and administrative expenses

264,874

457,556

Operating loss

-262,073-397,657

1298

1298

80

1,548

Non-operating income
Miscellaneous income
Total non-operating income
Non-operating expenses
Foreign exchange losses
Total non-operating expenses
Ordinary loss
Extraordinary losses
Impairment loss

80

1,548

-262,140-399,107―

182,818

Total extraordinary losses―

182,818

Net loss before income taxes-262,140-581,925

Income taxes - current
Income taxes - deferred

1,647
825

962
466

Total income taxes2,472

1,428-264,612-583,354-1,274―-263,338-583,354

Net loss
Net loss attributable to non-controlling interests
Net loss attributable to owners of parent―5―

Quarterly Consolidated Statements of Comprehensive Income
For the Three Months Ended June 30, 2018
(Thousands of yen)
For the three months
ended June 30, 2017

For the three months
ended June 30, 2018

Net loss-264,612-583,354

Comprehensive income-264,612-583,354

Comprehensive income attributable to :Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests-263,338-1,274-583,354――6―