Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy
between this translated document and the Japanese original, the original shall prevail.

May 11, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name:
Takara Bio Inc.
Listing:
Tokyo Stock Exchange
Securities code:
4974
URL:
https://www.takara-bio.co.jp
Representative:
Koichi Nakao, President & CEO
Inquiries:
Takuya Kakemi, Executive Officer, in charge of PR & IR Department
Telephone:+81-77-565-6970
Scheduled date of annual general meeting of shareholders:June 23, 2023
Scheduled date to commence dividend payments:
June 26, 2023
Scheduled date to file annual securities report:
June 29, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes(Yen amounts are rounded down to millions, unless otherwise noted.)

1. Consolidated financial results for the fiscal year ended March 31, 2023(from April 1, 2022 to March 31,
2023)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating profit

Millions of yen%

Millions of yen

Mar. 31, 2023

78,142

15.4

Mar. 31, 2022

67,69946.9

Note: Comprehensive income%

Millions of yen

20,541(28.9)

28,902

107.1

For the fiscal year ended Mar. 31, 2023:
For the fiscal year ended Mar. 31, 2022:

Net income
per share
Fiscal year ended

Fully Diluted net
income per share
Yen

Profit attributable toowners of parent

Ordinary profit%

Millions of yen

20,682(27.3)

16,012(19.3)

28,459101.0

19,849107.9¥20,363 million¥23,689 million

Return on equity

Yen%(14.0%)
173.1%

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales

%

%

%

Mar. 31, 2023

132.97

-

15.4

16.9

26.3

Mar. 31, 2022

164.84

-

23.3

27.7

42.7

Reference:

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended Mar. 31, 2023:¥- million
For the fiscal year ended Mar. 31, 2022:¥- million(2) Consolidated financial position
Total assets
As of

Net assets

Equity ratio

Net assets per share

Millions of yen

Millions of yen

Mar. 31, 2023

129,202112,45486.9

931.93Mar. 31, 2023

115,71296,06482.9

796.18Reference:

EquityAs of Mar. 31, 2023:
As of Mar. 31. 2022:¥112,219 million¥95,873 million%

Yen(3) Consolidated cash flows
Cash flows fromoperating activities
Fiscal year ended

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen

Mar. 31, 2023

36,897Mar. 31, 2022

6,985

(6,693)(4,119)49,058(7,071)(2,070)22,1602. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen
Fiscal year ended
Mar. 31, 2022
Fiscal year ended
Mar. 31, 2023
Fiscal year ending
Mar. 31, 2024
(Forecast)

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

Ratio of
Payout ratio dividends to(Consolidated) net assets(Consolidated)

Yen Millions of yen

%

%

-

0.00

-

33.00

33.00

3,973

20.0

4.7

-

0.00

-

42.00

42.00

5,057

31.6

4.9

-

0.00

-

17.00

17.00

37.2

3. Consolidated financial forecasts for the fiscal year ending March 31, 2024 (April. 1, 2023 – March. 31, 2024)(Percentages indicate year-on-year changes.)

Net sales
Millions of yen

Operating profit% Millions of yen

Net income
attributable toowners of the parent

Ordinary profit%

Millions ofyen%Millions ofyen

Net income per
share

%

Yen

Second quarter(cumulative)

22,800 (30.0)

2,100 (80.7)

2,100(80.8)

1,200 (85.9)

9.96

Full year

53,300 (31.8)

8,000 (61.1)

8,200(60.4)

5,500 (65.7)

45.67* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change
in scope of consolidation): None
Newly included: - companies (Company name)
Excluded:- companies (Company name)(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: Yes(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(Notes) For details, please refer to “(5). Notes to Consolidated Financial Statements (Changes in Accounting
Policies)” of “3. Consolidated Financial Statements and Primary Notes” on page 10 of the attachedmaterial.
(3) Number of issued shares (common shares)(i)

Total number of issued shares at the end of the period (including treasury shares)
As of Mar. 31, 2023

120,415,600 shares

As of Mar. 31, 2022

120,415,600 shares

(ii) Number of treasury shares at the end of the period
As of Mar. 31, 2023

- shares

As of Mar. 31, 2022

- shares(iii) Average number of shares outstanding during the period
Fiscal year ended Mar. 31, 2023

120,415,600 sharesFiscal year ended Mar. 31, 2022

120,415,600 shares(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated results for the year ended March 31, 2023 (April 1, 2022 – March 31, 2023)(1) Non-consolidated Results of Operations
Year ended
Year ended
Mar. 31, 2023
Mar. 31, 2022
(Millions of yen)(%) (Millions of yen)(%)
Net sales
57,28013.7
50,398
48.7
Operating profit
14,553(33.6)
21,931
126.3
Ordinary profit
17,444(30.4)
25,063118.0
Net income
14,313(22.6)
18,485112.9
Net income per share (in yen)
118.87153.51
Fully diluted net income per share (in yen)
(2) Non-consolidated Financial Position

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

As of Mar. 31, 2023
(Millions of yen)

As of Mar 31, 2022
(Millions of yen)

108,607
96,54488.9
801.7696,544

101,386
86,20485.0
715.8986,204<Reasons for the difference from the results of the previous fiscal year for the non-consolidated results>
In the fiscal year under review, although net sales increased due to the strong performance of reagents, the cost of
sales ratio rose due to changes in the sales mix and other factors, resulting in a difference between the actual value
for the previous fiscal year and the actual value for the current fiscal year.

* Financial results reports are exempt from audit conducted by certified public accountants or an audit corporation.
* Proper use of earnings forecasts, and other special matters
Forward-looking statements contained in this document are determined by the Takara Bio Inc. (the “Company”)
based on information currently available to the Company and include a number of uncertainties. Actual results
could differ from these forecasts due to changes in conditions that occur in the future. For information regarding
the above, please refer to “1. Overview of Financial Results for the year ended March 31, 2022, (4) Future Outlook
on page 3 of the attached document.
The Company will hold a briefing for institutional investors and analysts on Tuesday, May 16, 2023. The material
handed out at this briefing and a review of questions and answers will be posted on our website after the briefingContents of the attached document
1. Overview of Financial Results for the year ended March 31, 2023.............................................................
(1) Overview of Financial Results.................................................................................................................
(2) Overview of Financial Position...............................................................................................................
(3) Overview of Cash Flows.........................................................................................................................
(4) Future Outlook.........................................................................................................................................
2. Basic Concept on Selection of Accounting Standards.................................................................................
3. Consolidated Financial Statements and Primary Notes................................................................................
(1) Consolidated Balance Sheets...................................................................................................................
(2) Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income...
(Consolidated Statements of Profit or Loss)........................................................................................
(Consolidated Statements of Comprehensive Income)........................................................................
(3) Consolidated Statements of Change in Net Assets..................................................................................
(4) Consolidated Statements of Cash Flows.................................................................................................
(5) Notes to Consolidated Financial Statements...........................................................................................
(Notes on Premise of Going Concern)...................................................................................................
(Significant Accounting Estimates)........................................................................................................
(Changes in Accounting Policies)...........................................................................................................
(Segment Information)...........................................................................................................................
(Per-Share Information)..........................................................................................................................
(Significant Subsequent Events)............................................................................................................
4. Supplementary Information..........................................................................................................................
(1) Trends in Key Indicators for Business Management...............................................................................
(2) Comparative Consolidated Statement of Income....................................................................................
(3) Comparative Statement of Income Relating to Consolidated Financial Forecasts.................................

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2
2
2
3
3
4
4
6
6
7
8
9
10
10
10
10
10
10
11
11
11
12
13

1. Overview of Financial Results for the year ended March 31, 2023
(1) Overview of Financial Results
The outlook for the global economy in the fiscal year under review is uncertain due to the outbreak of the newCoronavirus disease (COVID-19), prolonged trade friction between the U.S. and China, and Russia’s invasion of
Ukraine.
Under these circumstances, Takara Bio Group is promoting initiatives to advance the development of fundamental
biologics development technologies and become a biologics development company that continuously creates newmodalities through the Reagents and Instruments and CDMO business under the six-year Long-Term Management
Plan FY2026, which ends in fiscal 2026, and the three-year Medium-Term Management Plan FY2023, which ends
in fiscal 20231. In addition, the Group worked aggressively to ensure a stable supply of testing-related products forthe new Coronavirus and to establish a manufacturing system for regenerative/cellular medicine and gene therapies
products, including vaccines for COVID-19.
In the fiscal year under review, although sales of Instruments and CDMO decreased year on year, sales ofReagents and Gene Therapy increased year on year. In particular, sales of COVID-19 antigen test and other reagents
related to the new Coronavirus testing grew significantly. As a result, net sales increased to ¥78,142 million (up15.4% year on year), while the cost of sales increased to ¥33,377 million (up to 80.5% year on year), reflecting arise in the cost of sales ratio due to changes in the sales mix and other factors. As a result, gross profit decreased
to ¥44,765 million (down 9.0% year on year). Selling, general and administrative (SG&A) expenses were ¥24,224
million (up to 19.3% year on year) due to an increase in personnel expenses, research and development (R&D)
expenses, etc., and operating profit decreased to ¥20,541 (down 28.9% year on year). As a result of the decreasein operating profit, ordinary profit was ¥20,682 million (down 27.3% year on year), profit before income taxes andothers was ¥21,224 million (down 22.9% year on year), and net income attributable to owners of the parent was¥16,012 million (down 19.3% year on year).
From the first quarter of the current fiscal year, due to a review of management classification, sales of reagentsand other reagents of GMP grades (for manufacturing products such as regenerative medicine) that were previously
included in "Reagents" are included in "Gene Therapy." As a result, net sales for the previous fiscal year have been
reclassified based on the new classification, and the ¥2,126 million included in "Reagents" has been reclassified
as "Genetic Therapy."
Since our group is a single segment, the disclosure by segment is omitted.
(2) Overview of Financial Position
Total assets at the end of the fiscal year under review were ¥129,202 million, an increase of ¥13,489 million
from the end of the previous fiscal year. This was mainly due to an increase of ¥28,214 million in cash anddeposits and an increase of ¥4,560 million in property, plant and equipment mainly due to the acquisition of ourmanufacturing facilities, despite a decrease of ¥12,717 million in merchandise and finished goods and a decreaseof ¥5,277 million in trade receivables.
Total liabilities at the end of the fiscal year under review were ¥16.747 billion, a decrease of ¥2,900 million
from the end of the previous fiscal year. This was mainly due to a decrease of ¥4,826 million in accrued income
taxes, despite an increase of ¥1,338 million in other current liabilities and ¥364 million in notes and accounts
payable-trade.
Total net assets at the end of the fiscal year under review were ¥112,454 million, an increase of ¥16,389 million
from the end of the previous fiscal year. This was mainly due to an increase of ¥12,038 million in retained
earnings and ¥4,471 million in foreign currency translation adjustment due to the yen's depreciation.
(3) Overview of Cash FlowsNet cash provided by operating activities amounted to ¥36,897 million, an increase of ¥29,911 million from theprevious fiscal year. This was mainly due to cash inflow from income before income taxes and others of ¥21,224
million, a decrease in inventories of ¥13,510 million, a decrease in trade receivable of ¥5,718 million anddepreciation and amortization of ¥4,050 million, and cash outflow from income taxes paid of ¥9,902 million.
Net cash used in investing activities amounted to ¥6,693 million, a decrease of ¥377 million from the previous
fiscal year. This was mainly due to proceeds from withdrawal of time deposits of ¥16,554 million, payments

1

FY2026 and FY2023 refer to the fiscal year ending March 31, 2026 and 2023, respectively.

-2-

into time deposits of ¥17,769 million, and purchases of property, plant and equipment and intangible assets of¥5,747 million.
Net cash used in financing activities totaled ¥4,119 million, mainly due to cash dividends paid of ¥3,968
million, an increase of ¥2,048 million compared with the previous fiscal year.
As a result of the above, the balance of cash and cash equivalents at the end of the fiscal year under review,
including the effect of exchange rate changes on cash and cash equivalents, increased by ¥26,897 million fromthe end of the previous fiscal year to ¥49,058 million.
(4) Future Outlook
In the next consolidated fiscal year, net sales are expected to decrease as a whole due to the anticipated decline
in demand for reagents related to the new coronavirus test. SG&A expenses are expected to decrease due to theplanned increase in personnel expenses, R&D expenses, etc.
As a result, we forecast net sales of ¥53,300 million, operating profit of ¥8,000 million, ordinary profit of¥8,200 million, and net income attributable to owners of the parent of ¥5,500 million.
For a comparison of the forecasts for the next fiscal year and the results for the year ended March 31, 2023,
please refer to page 13 "4. Supplementary Information (3) Comparative Profit and Loss Statements Relating to
Forecasts."
2. Basic Concept on Selection of Accounting Standards
The Group prepares its consolidated financial statements in accordance with Japanese GAAP, considering thecomparability of consolidated financial statements between periods and between companies.
With regard to the application of IFRS, the Company's policy is to respond appropriately, taking into accountvarious domestic and overseas circumstances.

-3-3. Consolidated Financial Statements and Primary Notes(1) Consolidated Balance Sheets(Millions of yen)
As of Mar. 31, 2022
AssetsCurrent assets
Cash and deposits
Notes receivable-trade
Electronically recorded monetary claimsoperating
Accounts receivable-trade
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
Land
Leased assets
Accumulated depreciation
Leased assets, net
Construction in progress
Others
Accumulated depreciation
Others, net
Total Property, plant and equipment
Intangible assets
Goodwill
Technology-based intangible assets
Other
Total intangible assets
Investments and other assets
Deferred tax assets
Retirement benefit assets
OthersTotal investments and other assets
Total non-current assets
Total assets-4-

As of Mar. 31, 2023

23,633466

51,847
244

1,231

984

16,147
18,966
1,361
3,738
2,637
(40)
68,141

11,338
6,248
1,125
3,714
2,184
(118)
77,56923,553(5,937)
17,615
7,626(4,147)28,098(7,064)
21,0348,384(4,883)

3,479

3,500

9,530
(5,516)
4,014
8,413
756
(125)
631
1,519
885
(161)
723
36,395

10,569(6,229)
4,340
8,654
756
(178)
578
2,102
992
(246)
745
40,956

6,309
1,523
1,326
9,159

6,674
1,011
1,360
9,047

1,539
123
352
2,015
47,571
115,712

1,067
93
466
1,627
51,632
129,202

(Millions of yen)
As of Mar. 31, 2022
Liabilities
Current liabilities
Notes and accounts payable-trade
Lease obligations
Accrued payable-otherAccrued income taxes
Provision
Other
Total current liabilities
Non-current liabilities
Lease obligations
Deferred tax 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
incomeNon-controlling interests
Total net assets
Total liabilities and net assets-5-

As of Mar. 31, 2023

1,959
137
4,443
5,498
923
4,418
17,380

2,323
151
4,405
672
1,065
5,756
14,375

910
198
788
370
2,266
19,647

821
179
992
378
2,372
16,747

14,96532,89345,00992,868

14,96532,89357,047104,906

3,208

7,680

(204)

(367)

3,004

7,312

191
96,064
115,712

235
112,454
129,202(2) Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income(Consolidated Statements of Profit or Loss)

67,69918,48849,211(Millions of yen)
Year ended
Mar. 31, 2023
78,14233,37744,765

20
5,327
528
230
6,109
8,093
20,30928,902

79
5,877
574
249
8,575
8,865
24,224
20,541

122
141
94
357

142
158
62
363

23
706
61
8
800
28,459

24
120
70
6
221
20,682

6
4,470
4,476

251
678
930

174
4,470
589
168
5,403
27,532
7,901
(277)
7,624
19,90858
19,849348
39
388
21,224
4,679
496
5,176
16,04735
16,012

Year ended
Mar. 31, 2022
Net sales
Cost of sales
Gross profit
SG&A expenses
Provision for doubtful accounts
Employees' salaries and bonuses
Provision for accrued bonuses
Retirement benefit expenses
R&D expenses
Other
Total SG&A expenses
Operating profit
Non-operating income
Interest income
Rent income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Foreign exchange loss
Rent expenses on real estate
Other
Total non-operating expenses
Ordinary profit
Extraordinary gains
Gain on sale of fixed assets
Insurance received
National subsidies
Total extraordinary profit
Extraordinary losses
Loss on disposal of fixed assets
Asset shrinkage losses
Loss of valuation of inventory
Impairment loss
OthersTotal 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-6-

(Consolidated Statements of Comprehensive Income)(Millions of yen)
Year ended
March 31, 2022

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-7-

Year ended
March 31, 2023

19,90816,047

3,751
29
3,781
23,689

4,478
(163)
4,315
20,363

23,61771

20,31943

(3) Consolidated Statements of Changes in Net Assets
Previous fiscal year (from April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders' equity

NonTotal
Cumulative
accumulated Controlling
remeasurements
Interestotherof retirement
comprehensive
benefitincomeTotal
net assets

Retainedearnings

Total
shareholders'equityForeigncurrencytranslation
adjustment

14,965 32,893 27,085

74,945(529)(1,926)(1,926)(1,926)

19,84919,84919,849Share
CapitalBalance at the
beginning of current
periodChange of items during
the period
Dividends fromsurplus
Net income
attributable to ownersof the parent
Net changes of items
other thanshareholders' equity
Total changes of items
during the period
Balance at the end ofcurrent period

Accumulated other comprehensive income-

Capitalsurplus

(234)

(763)

120

74,302

3,737

29

3,767

71

3,839

- 17,923

17,923

3,737

29

3,767

71

21,762

14,965 32,893 45,009

92,868

3,208

(204)

3,004

191

96,064Current fiscal year (from April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders' equity

NonTotal
Cumulative
accumulated controlling
remeasurementsinterests
otherof retirement
comprehensive
benefitincomeTotal
net assets

Retainedearnings

Total
shareholders'equityForeigncurrencytranslation
adjustment

14,965 32,893 45,009

92,8683,208(3,973)(3,973)(3,973)16,012

16,012

16,012

Share
CapitalBalance at the
beginning of current
periodChanges of items during
the period
Dividends fromsurplus
Net income
attributable to ownersof the parent
Net changes of items
other thanshareholders’ equity
Total changes of items
during the period
Balance at the end ofcurrent period

Accumulated other comprehensive income-

Capitalsurplus

(204)

3,004

191

96,064

4,471

(163)

4,307

43

4,351

- 12,038

12,038

4,471

(163)

4,307

43

16,38914,965 32,893 57,047

104,906

7,680

(367)

7,312

235

112,454-8-

(4) Consolidated Statements of Cash Flows(Millions of yen)

Net cash provided by (used in) operating activities
Income before income taxes and others
Depreciation and amortization
Impairment loss
Depreciation and amortization on other
Amortization of goodwill
Increase (decrease) in allowance for doubtful
accounts
Increase (decrease) in reserve for bonuses
Increase (decrease) in retirement benefit
liabilities
Interest income
Interest expenses
Insurance claim income
Loss (gain) on sale and retirement of fixed
assetsDecrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in notes and accounts
payable-trade
Increase (decrease) in other current liabilities
OthersSubtotalInterest and dividend income received
Income expenses paid
Income taxes paid
Proceeds from insurance income
Subsidies received
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 andequipment and intangible assets
Purchase of other depreciable assets
Subsidies received
OthersNet 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-9-Year ended

Year ended

Mar. 31, 2022

Mar. 31, 2023
27,532
3,554
168
95
500

21,224
4,050
86
599

(3)

56

144

78

(12)

202

(122)
23
-

(142)
24
(678)

168

97

(4,812)(14,233)

5,718
13,510

(431)

139

81
(526)
12,127133(23)(5,922)
671

899
162
46,028116(24)(9,902)
678
-

6,985

36,897(11,406)
12,877(17,769)
16,554(12,403)(5,747)

47

396

(136)
3,960
(10)

(135)
7

(7,071)(6,693)(1,923)(147)(3,968)(151)(2,070)(4,119)

1,008

813

(1,148)26,89723,30822,16022,16049,058(5) Notes to Consolidated Financial Statements(Notes on Premise of Going Concern)
No items to report.
(Significant Accounting Estimates)(Goodwill)
Our group recorded goodwill at Takara Bio USA, Inc., which was recorded in the past upon the acquisition of
all of the shares of Clontech Laboratories, Inc., Rubicon Genomics, Inc. and WaferGen Bio-systems, Inc.,
respectively.
(1) Amounts recorded in the consolidated financial statements for the current fiscal year
(Millions of yen)
Current Consolidated Fiscal YearEnd of previous fiscal year
6,309

Goodwill

6,674(2) Information on the content of critical accounting estimates for identified items
The Group determined Takara Bio USA, Inc. as a reporting unit, including goodwill, and took procedures to
identify an indicatoion of impairment. The recoverable amount of the reporting unit is based on its fair value.
Fair value is determined primarily based on the discounted present value of estimated future cash flows, which
utilize assumptions such as future growth rates to estimate such cash flows.
As the recoverable amount sufficiently exceeds the carrying amount at the end of the fiscal year under review,
the Company considers that it is unlikely that a material impairment loss will occur even if there is a reasonable
range of changes in future growth rates and other factors used in the calculation of the recoverable amount.
(Changes in Accounting Policies)(Adoption of ASU No. 842, "Leasing")
Certain foreign consolidated subsidiaries that have adopted U.S. GAAP have adopted ASU No. 842, "Leasing"effective from the fiscal year under review. As a result, the lessee has decided to record all leases as assets andliabilities in the balance sheet in principle.
In applying this standard, the Company adopted a method of recognizing the cumulative effect of adopting thisstandard on the date of adoption, which is permitted as a transitional measure.
As a result, at the end of the fiscal year under review, "Other" in Investments and other assets increased by 45
million yen, while "Other" in Current liabilities increased by 41 million yen, and "Other" in Non-current
liabilities increased by 4 million yen. The impact of this change on the Company's profit and loss for the fiscal
year under review is immaterial.
(Segment Information)
Since our group is a single segment, this information is omitted.
(Per-Share Information)
End of previous fiscal year
Current Consolidated Fiscal Year
(From April 1, 2021 to March 31, 2022) (From April 1, 2022 to March 31, 2023)
Net assets per share¥796.18¥931.93
Net income per share¥164.84¥132.97(NOTE) 1. Diluted net income per share is not presented because there were no dilutive shares.
2. The basis for calculating net income per share is as follows.

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End of previous fiscal year

Current Consolidated Fiscal Year

(From April 1, 2021 to March 31, 2022)(From April 1, 2022 to March 31, 2023)

19,84916,012--

19,84916,012

120,415

120,415

Net income per share
Profit attributable to owners ofparent (Millions of yen)Amounts not attributable tocommon stock (Millions of yen)
Profit attributable to owners ofparent attributable to common
stock (Millions of yen)
Average number of shares ofcommon stock outstanding
during the period (Thousands ofshares)(Significant Subsequent Events)
Not applicable.
4. Supplementary Information(1)Trends in Key Indicators for Business Management
1) Cash Flows(Millions of yen)
Year ended Mar. 31, 2022
(Apr. 1, 2021 – Mar. 31, 2022)
Cash flow from operating
activities
Cash flow from investing
activities
Cash flow from financing
activities

Year ended Mar. 31, 2023
(Apr. 1, 2022 – Mar. 31, 2023)

6,985

36,897(7,071)(6,693)(2,070)(4,119)2) Sales Breakdown by Region(Millions of yen)
Year ended Mar. 31, 2022
(Apr. 1, 2021 – Mar. 31, 2022)
Japan
United States
China
Asia excluding Japan and
China
EuropeOthersTotal

34,076
10,186
11,90845,667
12,886
10,799

6,614

3,546

4,668
244
67,6994,949
293
78,142

3) R&D Expenses by Reportable Segment
Since our group is a single segment, this information is omitted.

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Year ended Mar. 31, 2023
(Apr. 1, 2022 – Mar. 31, 2023)

(2) Comparative Consolidated Statement of Income(Net sales)
Reagents
Instruments
CDMO
Gene Therapy
Total net sales(Operating profit and Loss)

Net sales
Cost of sales
Gross profit
SG & A expenses
Transportation expenses
Advertising expenses
Promotion expenses
R&D expenses
Administrative expense, other
Enterprise taxes (external standards taxation)

Operating profit(Non-operating income and Expenses)
Non-operating income
Non-operating expenses

Ordinary profit(Extraordinary gains & Losses)
Extraordinary gains
Extraordinary losses
Income before income taxes and others
Income taxes
Net income
Net income (loss) attributable to noncontrolling interests

Net income attributable to owners of
the parent(Rounded down to one million yen)
Y/Y
Y/Y
ChangeRatio

Year ended
Mar. 31, 2022

Year ended
Mar. 31, 2023

52,4791,518
11,426
2,275
67,69965,925
1,375
8,200
2,640
78,142

13,446(142)(3,226)365
10,442

25.6%(9.4%)(28.2%)
16.1%
15.4%

67,69918,48849,211
20,309
755
58
683
6,109
12,153548
28,902

78,14233,37744,76524,224
653
48
699
8,575
13,790456
20,541

10,442
14,888(4,445)
3,914
(102)
(9)
15
2,466
1,637
(92)
(8,360)

15.4%
80.5%
(9.0%)
19.3%(13.6%)(16.5%)
2.3%
40.4%
13.5%
(16.8%)(28.9%)

357
800
28,459363
221
20,682

5(578)(7,777)1.5%(72.3%)(27.3%)

4,476
5,403
27,532
7,624
19,908930
388
21,224
5,176
16,047(3,545)(5,014)(6,308)(2,447)(3,860)(79.2%)(92.8%)(22.9%)(32.1%)(19.4%)

58

35

(22)

(38.5%)

19,84916,012(3,837)(19.3%)

Depreciation and amortization(Property, plant and equipment and
3,554
4,050
495
13.9%
intangible assets)
Amortization of goodwill
500
599
98
19.8%
※ The sales of GMP-grade reagents included in "Reagents" until the year ended of March 31, 2022 have been
included in "Gene Therapy " since the year ending March 31, 2023. The result for the year ended Mar. 31, 2022
in this table have been reclassified to reflect these changes.

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(3) Comparative Statement of Income Relating to Consolidated Financial Forecasts(Rounded down to one million yen)
Year ended
Year ending
Y/Y Change
Y/Y Ratio
Mar. 31, 2024 Forecast
Mar. 31, 2023
(Net sales)
Reagents
65,92538,353(27,571)(41.8%)
Instruments
1,375
2,019
643
46.8%
CDMO
8,200
9,914
1,713
20.9%
Gene Therapy
2,640
3,012
372
14.1%
Total Net Sales
78,14253,300(24,842)(31.8%)(Operating profit and Loss)
78,14253,300(24,842)(31.8%)Net sales
Cost of sales
33,377
19,315(14,061)(42.1%)
Gross profit
44,76533,984(10,780)(24.1%)
SG & A expenses
24,22425,984
1,760
7.3%
Transportation expenses
653
691
38
5.9%
Advertising expenses
48
74
25
53.3%
Promotion expenses
699
965
265
38.0%
R&D expenses
8,575
9,000
424
4.9%
Administrative expenses,
13,79014,881
1,090
7.9%
other
Enterprise taxes(external standards
456
372
(84)
(18.5%)
taxation)
20,541
8,000(12,541)(61.1%)
Operating profit(Non-operating income andExpenses)Non-operating income
363
386
23
6.4%
Non-operating expenses
221
186
(35)
(16.0%)
20,682
8,200(12,482)(60.4%)
Ordinary profit(Extraordinary gains &Losses)Extraordinary gains
930
(930)
Extraordinary losses
388
59
(329)
(84.7%)
Income before income
21,2248,140(13,083)(61.6%)
taxes and others
Income taxes
5,176
2,612
(2,564)(49.5%)Net income
16,047
5,528(10,519)(65.6%)Net income (loss)
attributable to non35
28(7)(21.1%)
controlling interests

Net income
attributable toowners of parent
Depreciation andamortization (Property,
plant and equipment andintangible assets)
Amortization of goodwill

16,012

5,500(10,512)(65.7%)

4,050

4,590

539

13.3%

599

637

38

6.4%

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