The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)

Consolidated Financial Statements for the First Quarter Ended June 30, 2020
FY2021 (April 1, 2020 - June 30, 2020) [UNAUDITED]
August 4, 2020
Takara Bio Inc.
Tokyo Stock Exchange (1st section)4974
http://www.takara-bio.co.jp
Koichi Nakao, President
Takuya Kakemi, General Manager of Corporate
Management Division, Executive Officer
Tel. (077) 565-6970
August 12, 2020

Company name:
Stock exchange listings:
Code number:
URL:
Company representative:
Contact:

Scheduled date of quarterly statement filing:
Scheduled date of starting delivery of dividends:－
Supplementary documents of the financial results:
Yes
Financial results information meeting:No
Notes: 1. The accompanying financial statements have been prepared in accordance with accounting principles andpractices generally accepted in Japan.
2. Amounts are rounded down to the nearest million yen.
1. Results for the three months ended June 30, 2020 (Apr. 1, 2020 – Jun. 30, 2020)(1) Consolidated operating results(Percentages indicate changes from the same period of the previous fiscal year.)Three months ended
Jun. 30, 2020
Net sales
Operating profit
Ordinary profit
Net income (loss) attributable to owners ofparent
Net income per share (in yen)
Fully diluted net income per share (in yen)
(Note) Comprehensive income(Millions of yen)
6,938
693
745
404
3.36
－
(48)

Three months ended
Jun. 30, 2019(19.8)(69.2)(66.1)(74.6)(Millions of yen)
8,650
2,251
2,200
1,591

(2.2)
45.8
41.1
54.2

(－%)

13.22
－
1,778

(－%)

(%)

(%)

(2) Consolidated financial position

Total assets
Net assets
Equity ratio (%)
Net assets per share (in yen)
(Reference) Equity

As of Jun. 30, 2020
(Millions of yen)

As of Mar. 31, 2020
(Millions of yen)

73,59365,58089.0543.82
65,48475,00966,591
88.7
552.2366,496

2. Dividends
Year ended
Mar. 31, 2020

Annual dividends per share in yen
Year ending
Mar. 31, 2021

－
－
0.00
－
8.00
8.00
Note: No revision of dividend payment forecast since the most recently announced payment forecast.

First quarter end
Second quarter end
Third quarter end
Year end
AnnualYear ending
Mar. 31, 2021 (Forecast)
0.00
－
8.00
8.00

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)
3. Forecast for the year ending March 31, 2021 (Apr. 1, 2020 – Mar. 31, 2021)(Percentages indicated changes from the same period of the previous fiscal year)

Six months ending
Sep. 30, 2020
Net sales
Operating profit
Ordinary profit
Net income attributable toowners of the parent
Net income per share(in yen)(Millions yen)
16,870
2,500
2,559
1,248

Year ending
Mar. 31, 2021(%)
2.6
(17.6)(13.6)(39.8)(Millions yen)
39,600
6,500
6,600
4,000

10.37

(%)
14.6
3.6
4.0
4.7

33.22

Note: Revision of financial forecast since the most recently announced payment forecast: Yes.

※ Others(1) Changes in subsidiaries during the three months ended June 30, 2020
(Changes in specified subsidiaries resulting in change of scope)： No
Newly included: － (Name)
Excluded: － (Name)(2) Application of special accounting methods to the consolidated quarterly financial statements： No(3) Changes in accounting policies, changes in accounting estimates, and retrospective restatement
1) Changes based on revisions of accounting standard： No
2) Changes other than ones based on revisions of accounting standard： No
3) Changes in accounting estimates： No4) Restatement： No(4) Number of outstanding shares (Common stock)1) Number of outstanding shares at year end (Treasury stocks are included)
120,415,600
As of June 30, 2020
As of March 31, 2020
120,415,600
2) Number of treasury stocks at year end－
As of June 30, 2020－
As of March 31, 2020
3) Average number of outstanding shares
120,415,600
As of June 30, 2020
120,415,600
As of June 30, 2019
※ These quarterly financial statements are not subject to auditing.
※ Comment regarding appropriate use of earnings forecasts and other special notes
Forward-looking statements contained in this document are determined by the Takara Bio Company based on information
currently available to the Company and include a number of uncertainties. Actual results could differ from these forecasts due tochanges in conditions that occur in the future. For information regarding the above, please refer to 1. Qualitative Information for
the three months ended June 30, 2020 (4) Qualitative Information Regarding Consolidated Forecasts on page 2 of the attacheddocument.

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)
Contents of the attached document
1.Overview of Financial Results for the three months ended June 30, 2020…………………………...........………………………...
2(1) Overview of Financial Results……………………………………………………….………….………….…………......
2(2) Overview of Financial Position………………………………………………...…………………………...……..............
2(3) Overview of Cash Flows…………………………………………………………….…………………………….……....
2(4) Qualitative Information Regarding Consolidated Forecasts………………………………………………………………
2
2. Consolidated Quarterly Financial Statements and Primary Notes…………………………………………………………….
3(1) Consolidated Quarterly Balance Sheets…………………………………………………………………………………...
3(2) Consolidated Quarterly Statements of Profit or Loss and Consolidated Quarterly Statements of Comprehensive Income..........
5(Consolidated Quarterly Statements of Profit or Loss)(For the three months ended June 30, 2020) ………………………………………………………………….............
5(Consolidated Quarterly Statements of Comprehensive Income)(For the three months ended June 30, 2020) ………………………………………………………………….............
6(3) Consolidated Quarterly Statements of Cash Flows……………………………………………………………..………....
7(4) Notes to Consolidated Quarterly Financial Statements…………………………………………………………................
8(Notes on Premise of Going Concern) …………………………………………………………………………………..
8(Notes in case of Changes in Marked Amount of Shareholders’ Equity) ……………………………………………….
8(Additional Information)………………………………………………..…………..…………..…………..………….... 8(Segment Information)……………………………………………………………………………..……………….……
8(Significant Subsequent Events) ………………………………………………..……………….……………….……...
9
3. Supplementary Information ………………………………………………………………………………………………….. 10(1) Trends in Key Management Indicators…………………………………………………………………………………… 10(2) Comparative Consolidated Statement of Profit or Loss …………………………………………………………………. 11(3) Comparative Statement of Profit Relating to Consolidated Earnings Forecast…………………………………………... 12- 1 -The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)
1. Overview of Financial Results for the three months ended June 30, 2020
(1) Overview of Financial Results
In the three months ended June 30, 2020, the prospects of global economy have become uncertain due to influence of the newCoronavirus disease (COVID-19) pandemic, the trade friction issue in the US and China, and Brexit.
Against these circumstances, under our corporate philosophy of “Contributing to the health of humankind through thedevelopment of revolutionary biotechnologies such as gene therapy”, Takara Bio (the Company) is promoting the development of
bio-drug discovery platform technologies through the businesses of research reagents and scientific instruments and CDMO
business, aiming to become a drug discovery company and continuously creates new modalities in line with “Long-Term
Management Plan FY2026” and “Medium-Term Management Plan FY2023”.
As a result, overall net sales in the three months ended June 30, 2020 decreased 19.8% year on year to ¥6,938 million, mainly
due to the decrease in the Gene Therapy compared with the same period of the previous fiscal year. Cost of sales was ¥2,234 million
due to a decrease of net sales, and gross profit decreased 20.5% year on year to ¥4,703 million. Selling, general and administrative(SG&A) expenses increased 9.4% year on year to ¥4,009 million, and the Company recorded operating profit down 69.2% year on
year to ¥693 million.
Accompanied with the decrease in operating profit, ordinary profit decreased 66.1% to ¥745 million, profit before income taxes
and others decreased 66.4% year on year to ¥736 million, and net income attributable to owners of parent decreased 74.6% year on
year to ¥404 million.
Segment information has been omitted since the reportable segments were changed to a single segment since the three months
ended June 30, 2020. For details, please refer to "2. Consolidated Quarterly Financial Statements and Primary Notes (Segment
Information)".
(2) Overview of Financial Position
In the three months ended June 30, 2020, total assets were ¥73,593 million, a decrease of ¥1,415 million compared with that at theend of the previous fiscal year. This primarily resulted from decreases in non-current assets of ¥827 million.
In the three months ended June 30, 2020, total liabilities were ¥8,013 million, a decrease of ¥404 million compared with that at
the end of the previous fiscal year. This primarily resulted from a decrease of ¥414 million in accrued income taxes.
In the three months ended June 30, 2020, total net assets stood at ¥65,580 million, a decrease of ¥1,011 million compared withthat at the end of the previous fiscal year. This was mainly due to decreases of ¥559 million in retained earnings and ¥461 million
in foreign currency translation adjustment resulting from the recording of ¥404 million in profit attributable to owners of parentand ¥963 million in dividends for the previous fiscal year.
(3) Overview of Cash FlowsNet cash provided by operating activities was ¥3,411 million, down by ¥462 million compared with the same period of previous
fiscal year. This was mainly due to profit before income taxes and minority interests of ¥736 million, depreciation and amortizationof ¥815 million, cash inflow of ¥2,130 million from a decrease in notes and accounts receivable-trade, and cash outflow of ¥787
million from an increase in inventories.
Net cash provided by investing activities was ¥775 million, an increase of ¥786 million compared with the same period ofprevious fiscal year. This was primarily due to ¥652 million in payments for purchase of property, plant and equipment andintangible assets.
Net cash used in financing activities was ¥944 million, an increase of ¥122 million compared with the same period of the previous
fiscal year. This was primarily because of an increase of ¥910 million in cash dividends paid.
As a result of the above, balance of cash and cash equivalents at the same period of previous year, including the effect of exchange
rate change on cash and cash equivalents, stood at ¥16,006 million, up by ¥1,543 million from the previous fiscal year-end.
(4) Qualitative Information Regarding Consolidated Forecasts
The Company has revised the financial forecast disclosed on May 14, 2020, considering results for the three months ended June30, 2020 and recent progress in our business.
The previous forecast included only downside risks associated with the COVID-19 pandemic. However, the current forecast
incorporates upside factors that can be expected to contribute to earnings, such as PCR-related products for the new coronavirus
testing and contract manufacturing of DNA vaccines, etc., to the extent anticipated. On the other hand, the forecast incorporates theimpact of termination of the exclusive agreement for developing, manufacturing and commercializing oncolytic virus C-REV in
China, which was announced today (4 August, 2020).
As a result, net sales, operating profit, ordinary profit, and net income attributable to owners of the parent are expected to exceed
the previous forecasts, and therefore the consolidated earnings forecasts for the second quarter ending September 30, 2020, FY2021
and the full Year ending March 31, 2020, FY2021 have been revised.
For comparison between revised forecasts for consolidated results, previous period results, and previous forecasts, refer to“Comparative Statement of Profit Relating to Consolidated Earnings Forecasts” on page 12 and 13.
- 2 -The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)
2. Consolidated Quarterly Financial Statements and Primary Notes(1) Consolidated Quarterly Balance Sheets(Millions of yen)
As of Mar. 31, 2020
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-tradeMarketable securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Others
Accumulated depreciation
Others, net
Total Property, plant and equipment
Intangible assets
Goodwill
Other
Total intangible assets
Investments and other assets
Investments and other assets
Total investments and other assets
Total non-current assets
Total assets- 3 -As of Jun. 30, 2020

18,266
9,102
2,000
4,511
1,208
1,874
1,479
(56)
38,387

19,745
6,902
2,000
4,847
1,338
2,100
920
(56)
37,79816,478(5,630)10,847
6,705(3,353)
3,352
7,912(5,217)
2,694
5,724
85
1,635
(126)
1,509
24,213

15,271(4,586)
10,685
6,594(3,365)3,228
7,563(5,003)
2,559
5,721
146
1,615
(159)
1,455
23,798

7,006
4,348
11,355

6,836
4,108
10,944

1,053
1,053
36,62275,0091,052
1,052
35,79573,593

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(Millions of yen)
As of June. 30, 2020

As of Mar. 31, 2020
Liabilities
Current liabilities
Notes and accounts payable-trade
Accrued income taxes
Provision
Other
Total current liabilities
Non-current liabilities
Retirement benefit liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Total shareholders' equity
Accumulated other comprehensive income
Foreign currency translation adjustment
Cumulative remeasurements of retirement
benefit
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

- 4 -

1,027
683
557
3,978
6,248

1,071
269
795
3,738
5,876

783
1,386
2,169
8,418

781
1,355
2,137
8,013

14,96532,89318,501
66,36014,96532,893
17,94265,801

436

(24)

(300)

(292)

135
95
66,59175,009(317)
95
65,58073,593

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(2) Consolidated Quarterly Statements of Profit or Loss and Consolidated Quarterly Statements of Comprehensive Income(Consolidated Quarterly Statements of Profit or Loss)(For the three months ended June 30, 2020)(Millions of yen)Three months ended
Jun. 30, 2020Three months ended
Jun. 30, 2019
Net sales
Cost of sales
Gross profit
SG&A expenses
Employees' salaries and bonuses
Retirement benefit expenses
R&D expenses
Provision for doubtful accounts
Other
Total SG&A expenses
Operating profit
Non-operating profit
Interest income
Foreign exchange gains
Rent of Real estate
Other
Total non-operating profit
Non-operating expenses
Interest expenses
Foreign exchange loss
Real estate leasing expense
Dormant fixed asset cost
Other
Total non-operating expenses
Ordinary profit
Extraordinary profit
Gain on sale of fixed assets
Total extraordinary profit
Extraordinary losses
Loss on sale and retirement of fixed assets
Loss on sale of investment securities
Total extraordinary losses
Profit before income taxes and others
Income taxes-current
Income taxes-deferred
Total income taxes
Net income
Net income attributable to non-controlling interest
Net income attributable to owners of the parent

- 5 -

8,650
2,734
5,916

6,938
2,234
4,703

1,000
47
939
140
1,537
3,664
2,251

1,044
53
1,172
150
1,588
4,009
693

22
－
24
14
62

33
4
30
12
81

－
96
6
1
8
113
2,200

6
－
9
10
2
29
745

0
0

－
－

6
2
9
2,191
545
49
595
1,596
4
1,591

8
－
8
736
226
99
326
410
6
404

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(Consolidated Statements of Comprehensive Income)(For the three months ended June 30, 2020)(Millions of yen)Three months ended
Jun. 30, 2020Three months ended
Jun. 30, 2019
Net income
Other comprehensive income
Foreign currency translation adjustment
Remeasurements of retirement benefit
Total other comprehensive income
Comprehensive income
Comprehensive income attributable to:
Owners of the parent
Non-controlling interest

- 6 -

1,596

410

176
6
182
1,778

(467)
8
(458)
(48)

1,772
6

(48)
0

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(3) Consolidated Quarterly Statements of Cash Flows(Millions of yen)Three months ended
Jun. 30, 2019
Net cash provided by (used in) operating activities
Profit before income taxes and others
Depreciation and amortization
Depreciation and amortization on other
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in other provision
Increase (decrease) in retirement benefit liabilities
Interest income
Interest expenses
Loss (gain) on sale and retirement of fixed assets
Decrease (increase) in trade receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in other current liabilities
Other
SubtotalInterest and dividend income received
Income expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of property, plant and equipment andintangible assets
Proceeds from sales of property, plant and equipment
and intangible assets
Purchase of other depreciable assets
Other
Net cash provided by (used in) investing activities
Net cash provided by (used in) financing activities
Dividends paid
Repayments of lease obligations
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 7 -Three months ended
Jun. 30, 2020
2,191
677
23
125
(0)
231
18
(22)
－
6
2,328
(419)
(565)
(497)
119
4,217
10
－
(353)
3,874

736
815
21
123
1
241
(0)
(33)
6
8
2,130
(787)
83
494
76
3,918
19
(6)
(520)
3,411

(163)
535

(0)
－

(447)

(652)

100

0

(11)
(1)
11

(116)
(6)
(775)

(803)
(18)
(821)
30
3,094
9,464
12,558

(910)
(34)
(944)
(147)
1,543
14,462
16,006

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(4) Notes to Consolidated Quarterly Financial Statements(Notes on Premise of Going Concern)
No items to report.
(Notes in case of Changes in Marked Amount of Shareholders’ Equity)
No items to report.
(Additional Information)
The consolidated earnings forecasts for the fiscal year under review were revised upward on 4 August, 2020, among theassumptions used in accounting estimates in the annual securities report for the previous fiscal year. However, no significant
changes have been made to assumptions other than the consolidated earnings forecasts, such as the spread of the new Coronavirus
disease (COVID-19) and the timing of its convergence. The revision did not affect the accounting estimates for the first quarter ofthe current fiscal year.
(Segment Information)
I
Equivalent period of previous fiscal year (From Apr.1, 2019 to Jun. 30, 2019)
II

It is described in three months ended June 30, 2020 (Matters related to changes and others by reportable segment).
Three months ended June 30, 2020 (From Apr.1, 2020 to Jun. 30, 2020)
This information is omitted because the Company consists of a single segment.
(Matters related to changes and others by reportable segment)
The Company has established business divisions according to products and services, and each business division has
formulated a comprehensive strategy for the products and services it handles, including that of its subsidiaries, and has been
conducting business activities, however, the Company has decided to dissolve the business division structures with the aimof becoming a drug discovery company that creates new modalities by advancing the development of biopharmaceuticalplatform technologies that integrate the management resources of each business division from April 2020.
As a result of this organizational reform, each of the business segments of "Bioindustry " and "Gene Therapy" which werepreviously reported segments, was changed to a single business segment from the first quarter of the current fiscal year. As
a result, the reportable segments have been made into a single segment.
Due to this change, segment information for the first quarter of the previous fiscal year and the first quarter of the fiscal
year under review has been omitted.

- 8 -The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(Significant Subsequent Events)(Significant termination of the agreement)
The Company has resolved to terminate the licensing agreement for oncolytic virus canerpaturev (Abbreviated to C-REV)
concluded with Tasly Biopharmaceuticals Co, Ltd. (headquarters in Shanghai, People’s of China; hereafter Tasly) at the board of
directors’ meeting held on August 4, 2020 and terminated the agreement on the same date.
(1) Reason for the agreement termination
The Company entered into this agreement on 11 May, 2020. After mutual discussions on future policies, it agreed to terminate
the agreement on 4 August, 2020, taking into account the recent social situation (the worldwide outbreak of COVID-19) andother factors.
(2) Name of the counterparty to the agreement
Tasly Biopharmaceuticals Co., Ltd.
(3) Date of the agreement termination
August 4, 2020
(4) Details of the agreement
The Company grants Tasly the exclusive rights to develop, manufacture and commercialize C-REV in China (including Hong
Kong and Macao, excluding Taiwan). The Company transfers the manufacturing technology of C-REV, and Tasly isadvancing clinical development with the aim of commercializing C-REV to the market as a new anticancer agent in China.
The Company receives upfront, annual and milestone payments depending on the achievement certain development from
Tasly. Following launch, the Company also receives running royalty on net sales and milestone payments upon theachievement of target sales.
(5) Significant impact of termination of agreement on business activities, etc.
The exclusive development, manufacturing and commercial rights of C-REV licensed to Tasley under this agreement in
China will all be returned to the Company upon termination of this agreement, and the Company will not be able to expect
the sales revenues from milestones due to development and commercial progress. On 4 August, 2020, the Company
announced a revised consolidated earnings forecast for the fiscal year ending 31 March, 2021, including the impact oftermination of the contract.

- 9 -The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)
3. Supplementary Information(1) Trends in Key Management Indicators1). Cash Flow
Three months ended
Jun. 30, 2019
Term
(Apr. 1, 2019 - Jun. 30, 2019)
Net cash provided by (used(Millions of yen)Three months ended
Year ended
Jun. 30, 2020
Mar. 31, 2020
(Apr. 1, 2020 - Jun. 30, 2020) (Apr. 1, 2019 - Mar. 31, 2020)

3,874

3,411

6,399

Net cash provided by (usedin) investing activities

11

(775)

(212)

Net cash provided by (usedin) financing activities

(821)

(944)

(946)

in) operating activities

2). Net Sales by Region(Millions of yen)Three months ended
Three months ended
Year ended
Jun. 30, 2019
Jun. 30, 2020
Mar. 31, 2020
(Apr. 1, 2019 - Jun. 30, 2019) (Apr. 1, 2020 - Jun. 30, 2020) (Apr. 1, 2019 - Mar. 31, 2020)

Japan

3,937

2,490

14,804

U.S.

1,955

1,992

8,011

China

1,427

1,126

6,391

474

450

1,877

784

788

3,207

Asia excluding
Japan and China
Europe
Other
Total

72

89

271

8,650

6,938

34,5653). R&D Expenses by Reportable Segment
As the reportable segment has been changed to a single segment since the first quarter of the current fiscal year, thedescription thereof has been omitted.

- 10 -

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(2) Comparative Consolidated Statement of Profit or Loss
Three months ended
Jun. 30, 2019
Actual(Rounded down to one million yen)Three months ended
Year on year
Year onJun. 30, 2020
Changeyear Ratio
Actual（Net Sales）
Research reagents
Scientific instruments
Contract services
Gene therapy

5,691
274
781
1,903

5,515
166
1,137
119

(175)
(107)
355
(1,784)

96.9%
60.6%
145.5%
6.3%

Total net sales

8,650

6,938

(1,712)

80.2%

8,650

6,938

(1,712)

80.2%

Cost of sales

2,734

2,234

(500)

81.7%

Gross profits

5,916

4,703

(1,212)

79.5%

SG&A expenses

3,664

4,009

344

109.4%

Transportation expenses
Advertising expenses
Promotion expenses
R&D expenses
Administrative expenses, other
Enterprise taxes (external standards taxation)

89
17
136
939
2,399
81

176
20
90
1,172
2,477
71

86
2
(45)
233
78
(10)

196.7%
115.8%
66.5%
124.8%
103.3%
87.6%

Operating profit

2,251

693

(1,557)

30.8%(Operating profit and Loss)
Net sales(Non-operating profit and Expenses)
Non-operating profit
Non-operating expenses
Ordinary profit(Extraordinary profit & Losses)
Extraordinary profit
Extraordinary losses
Profit before income taxes and others
Income taxes
Net Income
Net income (loss) attributable to non-controllinginterests
Net income attributable to owners of the parent
Depreciation and amortization(Property, plant and equipment and intangible assets)
Amortization of goodwill

62

81

19

131.0%

113

29

(83)

26.3%

2,200

745

(1,455)

33.9%

0

－

(0)

－

9

8

(0)

95.8%

2,191

736

(1,455)

33.6%

595

326

(269)

54.7%

1,596

410

(1,185)

25.7%

4

6

1

133.4%

1,591

404(1,187)

25.4%

677

815

138

120.5%

125

123

(1)

98.8%

*1 Sales of "Other" have been included in "Research reagents" from the current consolidated fiscal year, and the results for equivalent
period of previous fiscal year in this table have been reclassified to reflect these changes.
*2 As a result of the change to a single segment from the current consolidated fiscal year, the statement for consolidated earnings
forecasts by segment (operating profit) is omitted from this time.

- 11 -

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)(3) Comparative Statement of Profit Relating to Consolidated Earnings Forecasts① Second Quarter ending Sep. 30, 2020
(Rounded down to one million yen)Previous Previous
Year on year
forecast
forecast
Ratio
ChangeRatio

Six months ended
Sep. 30, 2020
ActualSix months ending
Sep. 30, 2021
Previous forecast

Six months ending
Mar. 31, 2021
Current forecast

11,824

10,684

12,785960

108.1%

2,100

119.7%

620

477

414

(205)

66.8%

(63)

86.7%

Contract services

1,961

2,734

3,450

1,488

175.9%

716

126.2%

Other

2,044

469

220

(1,823)

10.8%

(248)

46.9%

Total Net Sales

16,45014,365

16,870419

102.6%

2,504

117.4%

16,870419

102.6%

2,504

117.4%

Year on year
Change（Net Sales）
Research reagents
Scientific instruments(Operating Profit and Loss)
Net Sales

16,45014,365

Cost of sales

6,121

5,721

6,239

117

101.9%

518

109.1%

Gross profits

10,3298,644

10,631301

102.9%

1,986

123.0%

SG&A expenses

7,293

8,025

8,131

837

111.5%

105

101.3%

186

275

321

135

172.8%

46

116.7%
84.7%

Transportation expenses
Advertising expenses

33

36

31

(2)

92.4%

(5)

Promotion expenses

299

244

206

(93)

68.9%

(38)

84.3%

R&D expenses

1,858

2,357

2,471

612

132.9%

113

104.8%

Administrative expenses, other
Enterprise taxes(external standards taxation)

4,766

4,993

4,955

188

104.0%

(37)

99.2%

149

117

145

(3)

97.4%

27

123.4%

Operating profit

3,035

619

2,500

(535)

82.4%

1,880

403.9%

Non-operating profit

130

158

136

5

104.5%

(21)

86.1%

Non-operating expenses

203

83

77

(126)

37.8%

(6)

92.1%

2,961

693

2,559

(402)

86.4%

1,865

369.0%

Extraordinary profit

0

－

－

(0)

－

－

－

Extraordinary losses

12

510

479

467

3950.1%

(31)

93.9%

2,079

(870)

70.5%

1,896

1138.3%(Non-operating Profit and Expenses)

Ordinary profit(Extraordinary Profit & Losses)

Profit before income taxes andminority interests

2,950

182

Income taxes

870

173

813

(56)

93.5%

640

469.1%Net Income

2,080

9

1,265

(814)

60.9%

1,256

13688.4%

Net income (loss) attributable
to non-controlling interests
Net income attributable toowners of the parent

4

9

17

12

368.1%

8

188.4%

2,075

0

1,248

(826)

60.2%

1,248

－

Depreciation and amortization(Property, plant and equipment
and intangible assets)

1,352

1,553

1,595

242

118.0%

41

102.7%

250

238

246

(4)

98.4%

7

103.1%

Amortization of goodwill*1 Sales of "Other" have been included in "Research Reagents" since the current consolidated fiscal year, and the results for equivalent
period of previous fiscal year in this table have been reclassified to reflect these changes.
*2 As a result of the change to a single segment from the current consolidated fiscal year, the statement for consolidated earnings
forecasts by segment (operating profit) is omitted from this time.

- 12 -

The original disclosure in Japanese was released on August 4, 2020 at 15:00 (GMT+8)②

Year Ending Mar. 31, 2020
Year ended
Mar. 31, 2020
ActualResearch reagents
Scientific instruments

Year ending
Mar. 31, 2021

(Rounded down to one million yen)Previous Previous
forecast
forecast
ChangeRatio

Previous forecast

Year ending
Mar. 31, 2021
Current forecast

Year on year
ChangeYear on year
Ratio

24,84023,78827,6032,763

111.1%

3,814

116.0%

1,242

1,178

1,227

(14)

98.8%

49

104.2%

Contract services

6,186

7,201

9,850

3,663

159.2%

2,648

136.8%

Other

2,295

1,631

918

(1,377)

40.0%

(713)

56.3%

Total Net Sales

34,56533,80039,6005,034

114.6%

5,800

117.2%Net Sales

34,56533,80039,6005,034

114.6%

5,800

117.2%

Cost of sales

13,45912,99916,223

2,764

120.5%

3,224

124.8%

Gross profits

21,10520,80023,3762,270

110.8%

2,575

112.4%

SG&A expenses

14,83016,30016,876

2,045

113.8

575

103.5%

Transportation expenses

492

588

665

172

135.1%

76

113.0%

Advertising expenses

73

77

70

(2)

95.9%

(7)

90.7%

Promotion expenses

579

551

550

(29)

95.0%

(1)

99.7%

R&D expenses

3,869

4,814

5,121

1,252

132.4%

306

106.4%

Administrative expenses, other
Enterprise taxes(external standards taxation)

9,511

9,975

10,157646

106.8%

182

101.8%

305

292

311

6

102.2%

19

106.5%

Operating profit

6,274

4,500

6,500

225

103.6%

2,000

144.4%

316

231

293

(23)

92.6%

61

126.8%（Net Sales）(Operating Profit and Loss)(Non-operating Profit and Expenses)

Non-operating profit
Non-operating expenses

243

131

193

(50)

79.3%

61

147.1%

6,347

4,600

6,600

252

104.0%

2,000

143.5%

Extraordinary profit

0

－

－

(0)

－

－

－

Extraordinary losses

Ordinary profit(Extraordinary Profit & Losses)

914

653

627

(286)

68.7%

(25)

96.1%

Profit before income taxes andminority interests

5,433

3,946

5,972

538

109.9%

2,025

151.3%

Income taxes

1,601

1,338

1,961

359

122.4%

622

146.5%Net Income

3,831

2,607

4,010

178

104.7%

1,403

153.8%Net income (loss) attributable
to non-controlling interests
Net income attributable toowners of the parent

11

7

10

(1)

91.4%

3

140.0%

3,819

2,600

4,000

180

104.7%

1,400

153.8%

Depreciation and amortization(Property, plant and equipment
and intangible assets)

2,921

3,232

3,268

347

111.9%

36

101.1%

496

477

486

(10)

97.9%

8

101.7%

Amortization of goodwill*1 Sales of "Other" have been included in "Research Reagents" since the current consolidated fiscal year, and the results for equivalent
period of previous fiscal year in this table have been reclassified to reflect these changes.
*2 As a result of the change to a single segment from the current consolidated fiscal year, the statement for consolidated earnings
forecasts by segment (operating profit) is omitted from this time.

- 13 -