Securities Code● 4559

健康づくりは幸せづくり
Making Healthis making happiness

66th

Business Report
From April 1st, 2019 to March 31st, 2020

Contents
To Our Shareholders …………………………………………… P.1
Summary of Our Business Operations (Consolidated) ……… P.3
Status of Research and Development ………………………… P.5
Research and Development Pipeline ………………………… P.6
Status of Production and Distribution /Outlook for Fiscal Year 2020 ………………………………… P.7
Special Offers to Our Shareholders …………………………… P.8
Topics …………………………………………………………… P.9
Financial Statements (Consolidated) ………………………… P.11
Company Information ………………………………………… P.13
Share Information ……………………………………………… P.14
Shareholder MemoTo Our Shareholders

We, Zeria Pharmaceutical Co., Ltd. (“Zeria”)
would like to express our thanks for yourparticular support.
We are pleased to report the businessresults of fiscal year 2019 (66th business
operations) for the period from April 1st,
2019 to March 31st, 2020.

1

Chairman and CEO

President and COO

Sachiaki Ibe

Mitsuhiro Ibe

The Japanese economy had been experiencing a moderate recovery based on the background of improvements in the environment for
employment and income, but the global spread of infection of the novel coronavirus (COVID-19) at the end of the fiscal year underreview is forecast to lead to extremely difficult conditions starting with a drop in consumer spending.
For the pharmaceutical industry, both ethical pharmaceuticals and OTC drugs market remain in a severe situation. Ethical pharmaceuticals
have dealt with NHI price revisions twice within a short period of time in October 2019 and April 2020, while the promotion of the useof generic brand pharmaceuticals continues to be strengthened as part of the initiatives to curtail healthcare expenses. For the OTC
drugs market, in addition to severe market competition, consumer sentiment has been dampened by factors such as the consumption
tax hike and the measures to refrain from going outside due to the spread of infection of COVID-19.
Under such circumstances, the Zeria Group entered the final year of the of its 9th Mid-Term Management Plan (fiscal year 2017 to fiscal
year 2019). The Group has been accelerating global expansion during the fiscal year under review, which has steadily expanded overseas
sales. In addition, Zeria has taken proactive initiatives in M&A and alliances to strengthen and enhance the Zeria Group’s business base.
In January 2020, Zeria entered into a contract with Nissui Pharmaceutical Co., Ltd. to receive all of the shares in its subsidiary, Nissui
Pharma Medical Sales Co., Ltd., which became a subsidiary of Zeria in April 2020. Furthermore, Zeria has entered into respective
contracts concerning the granting of exclusive development rights and market rights for Acofide, the therapeutic agent for functional
dyspepsia invented by Zeria, with Meiji Seika Pharma Co., Ltd. for Thailand and Indonesia in October 2019 and with FAES FARMA, S.A.
of Spain for Latin America (13 Latin American countries such as Brazil and Mexico) in January 2020. The Ethical Pharmaceuticals business
and Consumer Healthcare business in Japan, however, did not produce sufficient results even though efforts were made to increase thebusiness and improve profitability by reallocating management resources.
As a result of these activities, net sales for the current fiscal year were 60,426 million yen (down 2.3% from the previous fiscal year).
Regarding profits, operating profit was 4,094 million yen (up 9.6% from the previous fiscal year) and ordinary profit was 3,879 million
yen (up 17.7% from the previous fiscal year) due to the increase in sales of Asacol in overseas markets and a reduction in selling, generaland administrative expenses. On the other hand, extraordinary income was recorded in the previous fiscal year and profit attributable toowners of parent was 2,925 million yen (down 15.3% from the previous fiscal year).
In the current fiscal year, the overseas sales to net sales ratio was 31.0%, compared with 28.5% in the previous fiscal year.

Net sales

Operating profit (■)/Ordinary profit (■)/
Profit attributable to owners of parent (■)(Unit: ¥million)

80,00064,56860,000(Unit: ¥million)

6,000

61,831

4,830

60,426
4,000

5,089
4,157

3,737 3,295
3,454

4,094 3,879
2,925

40,0002,000
20,000

0

0

Fiscal Year 2017 Fiscal Year 2018 Fiscal Year 2019

Fiscal Year 2017 Fiscal Year 2018 Fiscal Year 20192

Summary of Our Business Operations(Consolidated)

Ethical Pharmaceuticals BusinessNet sales

As for the main product, Asacol, a therapeutic agent for¥

ulcerative colitis, sales fell in the domestic market due tothe impact of competitive products as well as genericbrands. However, the decline in the domestic market wascovered by growth in sales in overseas markets with the

31,768Net sales of major products
Consumer
Healthcare
Business

Asacolcontribution from Asacol 1600mg and favorable trends incountries such as the UK and Northern Europe. Sales of
Asacol as a whole increased. On the other hand, sales for

Acofideagent (domestic sales name: Zentacort) struggled overall

PromacAcinonoverseas regions even though there was steady sales

52.7％

Entocort

Entocort, the inflammatory bowel disease therapeutic
due to impacts such as inventory adjustments in somedown 0.2%

million from the previous fiscal year

Net sales(composition
ratio)

Other

Asacol¥15.5 billion

Entocort¥4.9 billion

for progress, working to uncover potential functional

Acofide¥3.0 billion

dyspepsia patients, primarily at medical institutions that

Promac¥1.3 billion

conduct endoscopies.

Acinon¥1.0 billion

growth in the domestic market. As for Acofide, thetherapeutic agent for functional dyspepsia, we are aiming

As a result, net sales in the business amounted to 31,768
million yen (down 0.2% from the previous fiscal year).

Consolidated net sales in Ethical Pharmaceuticals Business(Unit: ¥million)
40,00035,00034,58331,83031,76830,00025,00020,000
0

3

Fiscal Year 2017 Fiscal Year 2018 Fiscal Year 2019

Consumer Healthcare BusinessNet sales

As for its main brand, the Chondroitin range, sales havefallen each year since fiscal 2015, but Zeria has attempted to
improve product awareness of Chondroitin, by continuing
TV commercials, newspaper advertisements and in-store
promotion to clearly promote the appeal of Chondroitin as
being the only OTC pharmaceutical containing 1560 mg (thedaily dosage) of Chondroitin. As a result of this aim todifferentiate from health foods, sales increased on theprevious fiscal year. Sales for the WithOne range of herbal
laxatives were firm, despite a sluggish laxative market.
However, regarding the Hepalyse range, even though salesof tablets in pharmaceutical categories such as Hepalyse Plus
II were firm, there was fierce competition with othercompanies’ drink products in the convenience store market
as well as the measures to refrain from going outside due tothe spread of infection of COVID-19 leading to a large dropin sales of the Hepalyse W range in the fourth quarter of the
fiscal year under review and an overall decline in income.
Note that the product line-up was strengthened in March
2020 with sales of Hepalyse W TANSAN.

¥

28,502

down 4.5%

million from the previous fiscal year

Net sales of major products
Hepalyse range

47.3％

Net sales(composition
ratio)

Chondroitin
range
WithOne range
Other

EthicalPharmaceuticals
Business¥12.6 billion

Hepalyse range

As a result, net sales in the business amounted to 28,502
million yen (down 4.5% from the previous fiscal year).

Chondroitin range¥6.6 billion

WithOne range¥1.6 billion

Consolidated net sales in Consumer Healthcare Business(Unit: ¥million)
35,00030,000

OTC drugs

29,831

29,841

28,50225,00020,00015,0000

Fiscal Year 2017 Fiscal Year 2018 Fiscal Year 2019

Hepalyse W series®

4Status of Research and Development

In the Research and Development division, Zeria is

In addition, Zeria is conducting a global Phase III clinicalpromoting new drug development, including in-licensed

trial for Z-100, which is targeting a cure for cervicalproducts, centered on the priority gastrointestinal fieldcancer, in seven countries in the Asian region including

following careful selection of development themes underJapan. All patient enrollments planned to present havea global development structure in coordination with

been completed.

Tillotts Pharma AG.
Regarding Zeria’s own original drug Z-338 (Acofide),
Zeria applied for approval of manufacturing andPhase III trials have commenced for paediatric functional

marketing of Z-213 (Ferinject), a treatment for irondyspepsia patients in Japan.

deficiency anemia and an in-licensed drug from Vifor(International) AG of Switzerland, in March 2018 andPhase II trials are being conducted in Japan for ZG-801, aobtained approval in March 2019.

therapeutic agent for hyperkalemia in-licensed from Vifor(International) AG of Switzerland.

Regarding development of Z-206 (Asacol) in China, Tillotts
Pharma AG submitted an application for its approval in

In the area of Consumer Healthcare products, as well as

May 2013 following the completion of a Phase III trial

pushing ahead with the development of European herbal

targeting ulcerative colitis, and the regulatory review by

medicines, Zeria also launched new products one after the

the Chinese authorities was completed with approval

other.

obtained in April 2020. Furthermore, regarding sales ofthese products in China, Tillotts Pharma AG entered into a

As a result of these activities, research and development

contract granting exclusive marketing rights to the local

expenses for the current fiscal year were 6,342 million yen

arm of major Italian pharmaceutical company Menarini(down 7.2% from the previous fiscal year).

Group in October 2019.
5

Research and Development Pipeline

Status of Pipeline of New Drugs(As of May 21, 2020)

I. Domestic
Stage

Development Code/
Generic Name

Development

Indications

Z-213/Ferric carboxymaltose

Classification

Source(Sales name: Ferinject® solution for
injection/infusion 500mg)

Zeria

Iron deficiency anemia

Intravenous ironreplacement

In-licensed

Z-100

Zeria

Cervical cancer

Immunomodulator

Original

Phase IIIZ-338/Acotiamide

Zeria

Paediatric functional
dyspepsia

Upper gastrointestinal
motility modulator

Original

Phase II

ZG-801/Patiromer

Zeria

Hyperkalemia

Potassium binder

In-licensed

Approval

Phase III
(Asia Global Development)

II. Overseas
Stage
Approval(China)Phase III(Europe)Phase III
(Asia)Development Code/
Generic Name

Development

Indications

Classification

SourceZ-206/Mesalazine

Co-development of Zeria
Ulcerative colitis
and Tillotts Pharma

pH-dependent controlledrelease formulation

Original(Tillotts Pharma AG)

Z-338/Acotiamide

Zeria

Functional dyspepsia

Upper gastrointestinal
motility modulator

Original

Z-100

Zeria

Cervical cancer

Immunomodulator

Original

Reference

Phase I Clinical Trials
After confirmation of the efficacy and safety byanimal studies, “drug candidates” are tested ona small group of healthy subjects. These trials
aim for determination of not only safety, but also
how long it takes for the body through anabsorption of the drug and the degree to which
the body excretes the drug.

Phase II Clinical Trials
After safety has been confirmed by
Phase I clinical trials, the efficacy andsafety of the “drug candidate,” as wellas the appropriate method of use suchas dosage and administration method,
are tested on a small number ofpatients against placebo*.

Phase III Clinical Trials
By administering to a large number of patients, the efficacy,
safety and method of use of the “drug candidate” arestudied as a final stage. During this phase, the “drugcandidate” is tested against other drugs on the market orplacebo*. In many cases, stringent testing methods called
double-blind trials are performed.

* Placebo: A fake drug that does not contain the active ingredient, but which is indistinguishable from the “drug candidate” by outer appearance or taste, etc.

6

Status of Production and Distribution /Outlook for Fiscal Year 2020

● Status of Production and Distribution● Outlook for Fiscal Year 2020

In Zeria’s Production and Distribution division, we are advancing
process improvements, the introduction of energy-saving equipment,
and cost reductions based on the premise to securing quality.

We forecast continuation of an increasingly severe businessenvironment for the near term given the strong promotion of
initiatives to curtail healthcare expenses and fierce competition in the
OTC drugs market as well as the economic slowdown in Japan andoverseas due to the spread of infection of COVID-19.

In departments related to Production, amid increasingly strict GMP(Good Manufacturing Practices – standards for manufacturing andquality controls relating to pharmaceuticals and quasi-drugs), theSaitama Plant and the Tsukuba Plant both completed the renewal of
their licenses of the manufacture of pharmaceuticals in the current
fiscal year. In addition, the response to new regulations from theregulatory authorities such as measures to deal with counterfeit
medications and revisions to barcode labeling methods werecompleted. Furthermore, with the consolidation of Nissui Pharma
Medical Sales Co., Ltd. as a subsidiary, the Group’s production
facilities including that company’s Tsukuba Plant were reviewed,
with initiatives taken to further reduce costs.
For the purchasing department, efforts were made to reduce costswith the start of joint purchases of raw materials with overseas
subsidiaries.
Meanwhile, in departments related to Distribution, we worked
towards strengthening the distribution structure by further improving
operating efficiencies and striving to reduce costs while also holding
stocks of ethical pharmaceuticals at the Kyushu Distribution Centeras a response to natural disasters that have frequently occurred inrecent years. In addition, as with departments related to Production,
we plan to reduce distribution costs by quickly implementing jointdelivery with Nissui Pharma Medical Sales Co., Ltd.

Under such circumstances, the Zeria Group is implementing thefollowing initiatives to expand the business and improve profitability.
Regarding the Ethical Pharmaceuticals Business, the sales alliancewith Kyowa Kirin Co., Ltd. terminated at the end of March 2020.
In the domestic market, from April 2020, initiatives have been
conducted to strengthen activities to provide information on Asacol,
exclusively sold by Zeria, and to list Ferinject solution for injection/
infusion 500mg, a treatment for iron deficiency anemia, on NHI drug
price standard at an early stage and conduct market development
for it. In overseas markets, initiatives have been conducted forfurther market penetration of Asacol and Entocort.
Regarding the Consumer Healthcare business, the focus was on
expanding the customer base for the main products including the
Hepalyse range, the Chondroitin range, and the WithOne range while
cultivating secondary product ranges. With Nissui Pharma Medical
Sales Co., Ltd. becoming a subsidiary, we have been working towards
further business expansion through synergies of both companies.
The consolidated financial forecast for the fiscal year ending March
31, 2021 is undecided because it is difficult to reasonably determine
the impact of COVID-19 outbreak including when it might becontained at this time. We will promptly disclose the forecast as soon
as it becomes possible to do so.

● Close-up
Launch of Hepalyse W TANSAN
We commenced selling Hepalyse W
TANSAN, which contains ingredientssuch as liver extract, vitamin C, sodium
hyaluronate, and royal jelly extract, as areplacement for Hepalyse W Sparkling

7● Delicious sparkling Hepalyse W
Sparkling orange-flavored (no fruit) crystal
clear Hepalyse W carbonated drink. A
different product from others in the Hepalyse
W Series in terms of both look and taste.
● Newly designed bottle
Newly designed with the first clear glassat convenience stores across Japan frombottle in the Hepalyse W Series wrapped in

March 31.

bright coloured shrink packaging.

Special Offers to Our Shareholders

Zeria offers a hospitality program to its shareholders
in recognition of their constant support.
Shareholders who own 1,000 or more of Zeria’s
shares can choose from one of the six options A to F.
Shareholders who own 100 or more but less than
1,000 of Zeria’s shares receive option G.
Zeria hopes its shareholders will try the gift products
for better understanding of its wide-ranging
product structure.

Chondroitin-Content Intensive Nighttime Essence

OptionD

Soft drinks, Designated quasi-drug, Food for specified health uses

Three-product Quality Moisturizer Set

Set of aluminum can drinks and Hepalyse® W

IONA Three-product Basic Skincare Set

OptionOptionA

E

Health drink

OptionB

OptionC

2 bottles of
ZZ:CC® ADSORBESSENCE (30g)

2 bottles ofChondrobe®
Concentrate,
JUNKOU®

High-quality moisturizing skincare
based on chondroitin research

OptionF

IONA R
Two-productSpecial Care Set

Cosmetics and health products

Drink containing liver extract and turmeric extract

Set of ChondroMax® and Aposty®

10 bottles of Hepalyse® W
OptionG● Options D to F are available at the Zeria online store (https: //www.zeriaonline.com/).

8Topics

Obtained approval to manufacture and market Asacol in the People’s Republic of China
Zeria Group company Tillotts Pharma AG of Switzerland, obtained approval to manufacture and market
Asacol, a therapeutic agent for ulcerative colitis, in the People’s Republic of China (hereinafter, China).
The rate of inflammatory bowel disease (IBD) in China is the highest in Asia and the rate has multiplied
two to three times during the past 10 years. Zeria and Tillotts Pharma AG anticipate being able tocontribute to the treatment of IBD in China through the sales of Asacol.
Prior to obtaining approval to manufacture and market, Tillotts Pharma AG entered into an agreementwith A. Menarini International Trading, a member of the A. Manarini Group of Italy, for the distribution
and marketing of the Asacol product range, therapeutic agents for ulcerative colitis, in China. Tillotts
Pharma AG is aiming for further growth with the acquisition of new sales territory for Asacol in Asia.

Entered into an overseas licensing agreement for Acofide tablets
Zeria entered into a licensing agreement granting development and marketing rights for Acofide tablets,a therapeutic agent for functional dyspepsia, in Southeast Asia as well as Latin America. Zeria anticipates
being able to contribute to improving the QOL for functional dyspepsia patients in the countries coveredby this licensing agreement.
With the aim of continuing to maximize the product value of Acofide tablets, we will proactively
negotiate further overseas licensing arrangements.
9Acquired the shares of Nissui Pharma Medical Sales Co., Ltd.
On April 1, 2020, Zeria Pharmaceutical Co., Ltd. acquired all the shares in Nissui Pharma Medical Sales
Co., Ltd. from Nissui Pharmaceutical Co., Ltd. and that company became a wholly-owned subsidiary.
Nissui Pharma Medical Sales Co., Ltd. inherited the liver hydrolysate business from Nissui PharmaceuticalCo., Ltd. when the shares were transferred and in addition to the manufacture and sales of OTC
pharmaceuticals the company is developing the liver hydrolysate business.
With the absorption of this company into the Zeria Group, Zeria increased the size of its OTC businesswhile establishing a structure to supply liver hydrolysate, which is vital for further growth of the
Hepalyse range.

* Nissui Pharma Medical Sales Co., Ltd. changed its name to Kenso-Seiyaku Co., Ltd. on June 29, 2020.

10

Financial Statements (Consolidated)

Consolidated Balance Sheets (Summary)
Term
Item

(Unit: ¥million*)

Previous Fiscal Year Current Fiscal Year(As of March 31, 2019) (As of March 31, 2020)

AssetsItem

41,070Accounts Payable - Trade

1,763

1,587

Short-Term Borrowings

27,98829,705

Other

9,086

9,777

Non-current Liabilities

12,247

10,406Long-Term Borrowings

7,795

5,470

Net Defined Benefit Liability

648

1,123

Asset Retirement Obligations

55

55

3,747

3,757

51,08651,47751,53449,264

Share Capital

6,593

6,593

Capital Surplus

11,685

11,685Retained Earnings

43,822

44,832

Treasury Shares(10,565)(13,846)

Accumulated Other
Comprehensive Income
Valuation Difference on
Available-for-Sale Securities
Foreign Currency Translation
Adjustment
Remeasurements ofDefined Benefit Plans

7,650

3,246

(21)

(457)

2,084

1,648

5,588

2,054

354

Non-Controlling Interests

162

168

(15)

(6)

Total Net Assets

59,34752,678110,433

104,155

110,433

104,155

Cash and Deposits

8,045

9,005

Notes and Accounts Receivable-Trade

14,952

13,369Inventories

10,023

9,563

Other

5,743

3,212

(40)

(130)

71,71069,135

Property, Plant and Equipment

22,91323,125

Buildings and Structures

7,573

7,073

Total Liabilities

Machinery, Equipment and Vehicles

3,167

2,700

Net Assets

Land

11,662

11,660Shareholders’ Equity

Construction in Progress

84

75

Other

425

1,616

Intangible Assets

29,79929,848Investments and Other Assets

18,997

16,162

Investment Securities

5,538

5,968

Deferred Tax Assets

44

85

12,922

9,759

Other

507

Allowance for Doubtful Accounts

Non-current Assets

Retirement Benefit Asset

Total Assets(As of March 31, 2019) (As of March 31, 2020)

38,838Current Liabilities

35,020Allowance for Doubtful Accounts

Previous Fiscal Year Current Fiscal Year

Liabilities

38,723Current Assets

11

Term

Other

Total Liabilities and Net Assets

Unit: ¥million rounded down to nearest million

Consolidated Statements of Income (Summary)
Term
Item

(Unit: ¥million*)

Consolidated Statements of Cash Flows (Summary)Previous Fiscal Year Current Fiscal Year
(From April 1, 2018
to March 31, 2019)(From April 1, 2019
to March 31, 2020)

61,831
17,75244,07838
46
44,07140,334
3,737
290
732
3,295
1,984
59
5,221
1,061
696
3,463
9
3,454

60,426
16,643
43,78346
38
43,791
39,696
4,094
310
525
3,879
44
3
3,920
527
453
2,938
13
2,925

Net Sales
Cost of Sales
Gross Profit
Reversal of Provision for Sales Returns
Provision for Sales Returns
Gross Profit-Net
Selling, General and Administrative Expenses
Operating Profit
Non-Operating Income
Non-Operating Expenses
Ordinary Profit
Extraordinary Income
Extraordinary Losses
Profit before Income Taxes
Income Taxes-Current
Income Taxes-Deferred
ProfitProfit Attributable to Non-Controlling Interests
Profit Attributable to Owners of Parent

Term
Item

(Unit: ¥million*)

Previous Fiscal Year Current Fiscal Year
(From April 1, 2018
to March 31, 2019)(From April 1, 2019
to March 31, 2020)

Net Cash Provided by (Used in)Operating Activities

5,500

7,251

Net Cash Provided by (Used in)Investing Activities(2,855)(405)

Net Cash Provided by (Used in)
Financing Activities(4,534)(5,877)

Effect of Exchange Rate Change
on Cash and Cash Equivalents

(224)

(52)

Net Increase (Decrease) in
Cash and Cash Equivalents(2,114)916

Cash and Cash Equivalents
at Beginning of Period

10,034

7,920

Increase (decrease) in Cash andCash Equivalents Resulting from
Change in Scope of Consolidation-

43

Cash and Cash Equivalents
at End of Period

7,920

8,880

Unit: ¥million rounded down to nearest million

Unit: ¥million rounded down to nearest million

Consolidated Statements of Changes in Net Assets (Summary) (From April 1, 2019 to March 31, 2020)
Shareholders’ Equity

Balance at Beginning of Period

Share
CapitalCapitalSurplusRetained
Earnings

Treasury
Shares

6,593

11,68543,822(10,565)(Unit: ¥million*)

Accumulated Other Comprehensive Income
NonValuation
Foreign
Total Accumulated
Total
controlling
Difference on
Currency Remeasurements
Other
Shareholders’ Available-forof Definedinterests
Translation
Comprehensive
EquitySale Securities Adjustment Benefit Plans
Income51,534

(21)

2,084

5,588

7,650

162

Total Net
Assets59,347

Changes during Period
Dividends of Surplus
Profit Attributable to Owners of Parent(1,603)(1,603)

2,925

2,925

2,925

(3,280)(3,280)

(311)

(311)

(3,280)Purchase of Treasury Shares(311)

Change in Scope of Consolidation
Net Changes of Items Other
than Shareholders’ Equity
Total Changes during Period
Balance at End of Period(1,603)

(435)

(435)

(3,533)(4,404)

6(4,398)

-

-

1,010

(3,280)(2,270)

(435)

(435)

(3,533)(4,404)

6(6,668)

6,593

11,68544,832(13,846)

49,264

(457)

1,648

2,054

3,246

168

52,678

Unit: ¥million rounded down to nearest million

12Company Information (As of March 31, 2020)

Company Outline

Place of Business

Established:

December 1955

● Headquarters● Fukuoka Branch

Share Capital:¥6,593,398,500● Sapporo Branch● Central Research Laboratories

Number of Employees:

1,667 (Consolidated)● Sendai Branch● Saitama Plant

Business Activities:

1. ‌Manufacturing, sales, import andexport of pharmaceuticals,quasi-drugs and reagents.
2. ‌Manufacturing, sales, import andexport of cosmetics, health foods,
soft drinks, hygienic goods andmedical devices.

● Tokyo Branch● Tsukuba Plant● Kita Kanto Sales Office● Sapporo Distribution Center● Minami Kanto Sales Office● Tokyo Distribution Center● Nagoya Branch● Saitama Distribution Center● Osaka Branch● Osaka Distribution Center● Osaka 2nd Sales Office● Kyushu Distribution Center

Directors and Audit & Supervisory Board Members● Chugoku & Shikoku Branch(As of June 26, 2020)

Chairman and CEO

Sachiaki Ibe

President and COO

Mitsuhiro Ibe

Executive Vice President

Hirokazu EndoManaging Director

Makoto Kishimoto

Director

Tetsuo Komori

Director

Kikuo Nomoto

Director

Seiji Morimoto

Director

Hiroki Kato

Director

Yoshihiro Hiraga

Director

Toshiaki Kawagoe● Tillotts Pharma GmbH (Germany)

Director

Kenji Kusano● Tillotts Pharma France SAS (France)

Director

Yuuki Okazawa● Tillotts Pharma AG (Switzerland)● Tillotts Pharma AB (Sweden)● Tillotts Pharma Ltd. (Ireland)● Tillotts Pharma UK Ltd. (United Kingdom)● Tillotts Pharma Czech s.r.o. (Czech Republic)● Tillotts Pharma Spain S.L.U. (Spain)● Pharmaceutical Joint Stock Company of February 3rd (Vietnam)● ZPD A/S (Denmark)Audit & Supervisory Board Member Koujirou Takami● Zeria Healthway Co., Ltd.

Audit & Supervisory Board Member Keiji Ishiyama● IONA INTERNATIONAL CORPORATION

Audit & Supervisory Board Member (Outside) Yukiko Naka
Audit & Supervisory Board Member (Outside) Masaru Kamisuki

13

Main Subsidiaries (As of June 26, 2020)● Nissui Pharma Medical Sales Co., Ltd.
● Zevice Co., Ltd.

(Note) Nissui Pharma Medical Sales Co., Ltd. changed its name to Kenso-Seiyaku Co., Ltd. on June 29, 2020.

Share Information (As of March 31, 2020)

Status of Shares

Distribution of Shares by Shareholder Type(i) Number of authorized shares:

119,860,000 shares
Financial Instruments
Business(ii) Number of shares outstanding: 53,119,190 shares
10,880(iii) Number of shareholders:

3,335,631 shares(6.28%)

221,025 share(0.42%)

Major Shareholders
Number of
Shares Held

Percentage
Held (%)

Ibe Corporation

4,741,847

10.2

MUFG Bank, Ltd.

2,107,050

4.6

Morinaga Milk Industry Co., Ltd.

1,940,215

4.2

The Master Trust Bank of Japan, Ltd.
(Trust Account)

1,747,200

3.8

Sachiaki Ibe

1,592,967

3.4

Sumitomo Mitsui Banking Corporation

1,406,131

3.0

Mizuho Bank, Ltd.

1,406,053

3.0

Resona Bank, Limited

Name of Shareholder

Foreigners

1,182,385

2.6

Japan Trustee Service Bank, Ltd.
(Trust Account)

976,000

2.1

Zeria Pharmaceutical Co., Ltd.
Employee Stockholding Plan

956,555

2.1

Individual Shareholders
and Others
17,366,534 shares(32.69%)Distribution
Ratio of Shares
Total
53,119,190 shares
Other Domestic
Corporations
16,504,471 shares(31.07%)

Financial Institutions
15,691,529 shares(29.54%)(Note) The percentage held is calculated by subtracting treasury shares (totaling 6,825,944 shares).

Share Price and Trading Volume
Share Price (¥)

3,000
2,500

Number of Shares Traded(1,000 shares)

2,000
6,000
1,500

5,000
4,000

1,000

3,000
2,000

500

1,000
0

2019
April

May

June

July

AugustSeptember

OctoberNovember December

2020
January0
February

March

14

Shareholder Memo
Fiscal Year
From April 1st of each year to March 31st of the following year
Ordinary General Meeting of Shareholders
Late June of each year
Record Date
Ordinary General Meeting of Shareholders and end of term dividend:
March 31 of each year
Interim dividend: September 30 of each year

Website introduction

Please refer to latest
IR information on
our website.
The Company has set up a website for theTransfer Agent
Sumitomo Mitsui Trust Bank, Limited
1-4-1 Marunouchi, Chiyoda-ku, Tokyo

purpose of providing accurate information

Account Management Institution for Special Account
Sumitomo Mitsui Trust Bank, Limited
1-4-1 Marunouchi, Chiyoda-ku, Tokyos h a re h o l d e r s a n d i n v e s t o r s , f ro m I R

on a timely basis. The website contains a
broad array of information useful for
information to the latest news.

Mailing Address (Inquiry information)
Stock Transfer Agency Business Planning Department,
Sumitomo Mitsui Trust Bank, Limited
2-8-4 Izumi, Suginami-ku, Tokyo 168-0063
TEL: 0120-782-031 (toll-free)Handling operation is conducted in main branch and all domestic branchesof Sumitomo Mitsui Trust Bank, Limited.
● Applications for change of address or for purchase demands of fractional shares, etc.

Please send such notifications or applications to the securities company where
your account is held.
For shareholders for whom a special account has been opened because there isno account held by a securities company, please send such notifications orapplications to Sumitomo Mitsui Trust Bank, Limited, the account management
institution for the special account.
● Applications for payment of dividends payable

Please send such applications to the transfer agent, Sumitomo Mitsui Trust Bank,
Limited.

Customer Service, Zeria Pharmaceutical Co., Ltd.
10-11 Nihonbashi-kobunacho, Chuo-ku, Tokyo 103-8351
TEL 03-3663-2351 (Main) FAX 03-3663-2352
03-3661-2080
https://www.zeria.co.jp/

https://www.zeria.co.jp/english/