English translation

Summary of Financial Statements for the Fiscal Year Ended December 31, 2014
[Japanese GAAP] (Non-consolidated)
Company Name

SymBio Pharmaceuticals Limited

February 10, 2015
Listing: Tokyo Securities Exchange

Securities code4582

URL http://www.symbiopharma.com/

Representative

Representative Director, President andChief Executive Officer

Fuminori Yoshida

Contact person

Director, Finance & Accounting

Ordinary Annual General Meeting
March 26, 2015of Shareholders
Scheduled date to file Securities
ReportMarch 27, 2015

Supplementary materials for thefinancial statements

Yes

Holding of earnings performanceYes
review:

Tetsuya Maruyama

TEL 03(5472) 1125

Date of dividend
payment (plan)―No

No (For securities analysts and institutional investors)(millions of yen – rounded down, unless otherwise stated)
1. Business Results for FY 2014 (January 1, 2014 to December 31, 2014)(1) Operating results(Percentages indicate year-on-year changes)
Net Sales
Operating Income (loss)
Ordinary Income (loss)
Net Income (loss)
millions of yen% millions of yen% millions of yen% millions of yen%
FY 2014
1,955
27.6(1,303)－(1,110)－(1,115)－FY 20131,532(21.6)(1,680)－(1,601)－(1,605)－Net Income (loss) per share

FY 2014
FY 2013(Reference)

Equity in earnings:

Diluted Net Income per
share

Yen
(36.26)(69.29)FY 2014

Yen－－

Ratio of net
Ratio of ordinary Ratio of operating
income (loss) to income (loss) to income (loss) toequity (ROE) total assets (ROA)
net sales%%%(15.8)(14.7)(66.7)(26.3)(24.3)(109.7)－ million yen

FY 2013－ million yen(2) Financial position
Total Assets
millions of yen
7,453
7,686

FY 2014
FY 2013(Reference)

Equity:FY 2014Net Assets
millions of yen
6,963
7,432

6,763 million yen

Equity Ratio
%
90.7
95.4

Net Assets per ShareYen
208.80239.48FY 2013

7,336 million yen(3) Cash flows

FY 2014
FY 2013

Cash flows from operating Cash flows from investing Cash flows from financing Cash and cash equivalents
activities
activities
activities
at the end of the year
millions of yen
millions of yen
millions of yen
millions of yen(1,266)
314
543
5,092
(1,677)(1,332)
4,056
5,294

2. Dividends
Annual Dividend per ShareTotal Dividends
1st Quarter

2nd Quarter

3rd Quarter

Fiscal Year End

Yen
0.00
0.00
0.00

Yen

Yen
0.00
0.00
0.00

Yen
FY 2013
FY 2014
FY 2015 (Forecast)

－
－
－

－
－
－

Payout ratio

Full Year
Yen
0.00
0.00
0.00

millions of yen

%

－
－

－
－
－

Ratio ofdividends to
net assets%－－

3. Earnings Forecasts for FY 2015 (January 1, 2015 to December 31, 2015)
Operating
Income (Loss)

Net Sales
Full Year(Percentages indicate year-on-year changes)
Net Income (Loss)Net Income (Loss)per share

Ordinary
Income (Loss)millions of yen%

millions of yen%

millions of yen%

millions of yen

%

Yen

1,870

(4.3)

(2,452)－(2,481)－(2,485)－(68.61)

Notes:(1) Changes in accounting policies, changes in accounting estimates and restatements after error corrections(a) Changes in accounting polices due to revision ofYes ・ No
accounting standards:(b) Changes in accounting polices due to otherreasons:

Yes ・ No(c) Changes in accounting estimates:

Yes ・ No(d) Restatements after error correction:

Yes ・ No

(2) Number of shares outstanding (common stock)(i) Number of shares outstanding at the end of
the year (including treasury stock)

FY 2014

32,390,923 shares

FY 201330,634,257 shares(ii) Number of shares of treasury stock at theend of the year

FY 201475 shares

FY 201375 shares(iii) Average number of shares during the year

FY 201430,776,721 shares

FY 2013

23,167,804 shares(Note) Refer to “Per share information” on Page 55 for number of shares that forms the basis for calculating net income (loss)
per share.
* The status of the annual audit
The audit of financial statements as required by the Financial Instruments and Exchange Act was underway as of the date of thisdisclosure document.
*Explanation regarding the appropriate use of earnings forecasts and other matters(Notes on forward-looking statements)
All forecasts presented in this document, including earnings forecasts, are based on information currently available tomanagement and the assumptions that we judge to be reasonable. Actual results may differ substantially from these forecasts due
to various factors. Regarding the assumptions on which the earnings forecasts are based and their usage, please refer to “Businessresults analysis” on Page 2 of the attachment.

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Index of the attachment
1. Business results……………………………………………………………………………………………………….………. 1(1) Business results analysis ……………………………………………………………………………………………...….. 1(2) Financial position analysis ………………………………………………………………………………………………. 3(3) Basic policies concerning profit distribution and dividends …………………………………………………………..… 4(4) Risks of business ………………………………………………………………………………………………….…...… 4
11
2. Status of corporate group ………………………………………………………………………………………………...
3. Management policies ……………………………………………………..….………………………………………..…….. 11(1) Basic policy of company management …………………………..…………………………………………………..….. 11(2) Key performance index ………………………………………..……………………………………………….……..…. 12(3) Pipelines ……………………………………………………………………………………………………………….... 12(4) Medium to long-term strategy ………………………………………………………………………………….……...… 14(5) Issues to be addressed by the Company ………………………………………………………………………………….. 15(6) Other important matters concerning the Company’s management …………………………………….………………… 15
4. Financial statements …………………………………………………………………………………………………….....… 17(1) Balance sheets …………………………………………………………………………………………………….…..… 17(2) Statements of operations ……………………………………………………………………………………………..…. 19(3) Statements of changes in net assets ……………………………………………………………………..…….……...… 20(4) Statements of cash flows …………………………………………………………………………………………..…… 22(5) Events and conditions that indicate there could be substantial doubt about going concern assumption…………….…. 24(6) Significant accounting policies …………………………………………………………………………………....….... 24(7) Notes on financial statements …………………………………………………………………………………….....….. 26(Balance sheets) …………………………………………………………………………………………………...….. 26(Statements of operations) ………………………………………………………………………………..……….….… 26(Statements of changes in net assets) …………………………………………………………………..………...…… 27(Statements of cash flows) ………………………………………………………………………………………..…... 29(Lease transactions) ……………………………………………………………………………………………..…..… 29(Financial instruments) …………………………………………………………………………………. …………… 30(Marketable and investment securities) ………………………………………………………………………….…… 35(Derivative transactions) ……………………………………………………………………………………………….. 36(Retirement benefits) ………………………………………………………………………………………….……..… 37(Stock options) ………………………………………………………………………………………………….…...… 39(Deferred tax accounting) ………………………………………………………………………………………….. … 52
(Equity in earnings) ……………………………………………………………………………………………….…… 52(Asset retirement obligations) ………………………………………………………………………………….....…… 52(Investment and rental property) ………………………………………………………………………………..….… 52(Segment information) …………………………………………………………………………………………….…… 53(Related party information) …………………………………………………………………………………..….…… 54(Per share information) …………………………………………………………………………………………….. … 55
(Significant subsequent events) ………………………………………………………………………………………… 56
5. Other ………………………………………………………………………………………………………………………… 56(1) Change in Officers ……………………………………………………………………………………………………… 56(2) Other ………………………………………………………………………………………………………………..…… 56

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

1. Business results(1) Business results analysis(Business Results for FY 2014)
While experiencing the last-minute rise in demand before the consumption tax increase and its reactionary effect, Japan’s
domestic economy has continued to recover moderately as the government’s financial measures and the BOJ’s monetary easing
policies have effectively led to the continuous trend of a weakening yen with higher stock prices and corporate profits, improving
the employment and income environment. Overseas economies also continue to experience a moderate recovery with the steady
performance of the U.S. economy, although some weakness remains in China and certain emerging markets and the outlook inEuropean countries remains unclear.
As National Health Insurance drug prices were reduced by an average of 2.65% across the industry in April, the Japanesepharmaceutical industry remains severe, especially for innovator drug developers due to government policies to reduce medical
expenditures, including generic drug promotion and changes in healthcare systems. However, in November, 2014 thePharmaceutical Affairs Act of Japan was revised and the name has changed to the “Ministerial Ordinance on Standards for
Manufacturing Control and Quality Control for Medical Devices and In-Vitro Diagnostics (“PMD Act”),” which newly defined“regenerative medicine products.” Thus, steady progress has been made toward reorganization of the regulatory system relating
to the pharmaceutical industry.
Under such circumstances, progress in the Company’s business for FY 2014 is as follows:(i) Domestic[SyB L-0501 (generic name: bendamustine hydrochloride, trade name: TREAKISYM®)]
The Company markets the anticancer agent TREAKISYM® in Japan through its business partner, Eisai Co., Ltd.
(“Eisai”), for the indications of refractory/relapsed low-grade non-Hodgkin’s lymphoma and mantle cell lymphoma. Net
sales through Eisai increased as expected, with an increase of 102% year-on-year (NHI price basis).
Aiming to maximize the product value of TREAKISYM®, the Company continues to pursue three additional indications.
Firstly, as for the indications of frontline low-grade non-Hodgkin’s lymphoma and mantle cell lymphoma, the Company
completed the Phase II clinical trial in February, 2014 and is currently preparing the application for approval. In the EU,
Astellas Pharma Europe Ltd. has already completed the application process for regulatory approval. Considering thisapproval progress in Europe, the Company plans to file the sNDA in Japan;
Secondly, as for the indication of chronic lymphocytic leukemia, the patient enrollment for Phase II clinical trial wascompleted in October, 2014. TREAKISYM® has been designated as an orphan drug (pharmaceutical for treatment of rarediseases) for the indication of chronic lymphocytic leukemia in June, 2012.
Lastly, as for the additional indication of refractory/relapsed intermediate/high-grade non-Hodgkin’s lymphoma, theCompany’s development approach is being considered.
[SyB L-1101 (intravenous formulation) and SyB C-1101 (oral formulation), generic name: rigosertib]
The domestic Phase I clinical trial of anticancer agent SyB L-1101 (intravenous formulation) for the indication ofrefractory/relapsed higher risk myelodysplastic syndrome (MDS), which is a hematological malignancy, is underway.
In February, 2014, Onconova Therapeutics, Inc. (“Onconova”), the U.S. Licensor, announced results from its Phase 3
ONTIME trial of IV rigosertib conducted at clinical trial sites in Europe and the U.S. Although treatment with IV rigosertib
plus best supportive care (BSC) did not demonstrate a statistically significant improvement in median overall survival whencompared to BSC only, post-hoc analysis demonstrated a statistically significant increase in median overall survival in thesubset of patients who had progressed on or failed previous treatment with hypomethylating agents (HMAs) (i.e., had not
responded to HMAs), thus demonstrating potential activity of rigosertib in these MDS patients
Onconova continues discussions with the U.S. and European regulatory agencies regarding the possibility of approval based
on top-line results of the Phase III ONTIME trial. These discussions have consequently led Onconova to focus its
development efforts on the unmet medical need of patients who do not respond to treatment with the current standard ofcare, hypomethylating agents (“Primary HMA Failure”). Onconova announced its future development plan for Primary
HMA Failures. The Company will continue with its development of IV rigosertib in Japan based on Onconova’s
development plan in the US and Europe.
Patient enrollment for the Phase I clinical trial of SyB C-1101 (oral formulation, or “Oral rigosertib”) in first-line lower risk
MDS was completed in August, 2014.
(ii) Overseas
In June, 2014, SyB L-0501 was approved by the Ministry of Food and Drug Safety (MFDS) in South Korea for the-1-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014indication of refractory/relapsed low-grade non-Hodgkin’s lymphoma in addition to the earlier approval of chronic
lymphocytic leukemia and multiple myeloma. Eisai Korea Inc. (Eisai Korea), a Korean subsidiary of Eisai, promotes the
product for these three indications. The Company’s overseas sales continue to grow steadily as planned and have increasedby 2.2 times compared to budget, in particular because the Company received a purchase order from Eisai Korea inconnection with their change of packaging facility in FY 2014, and recognized the related sales revenue which had beenoriginally expected in FY 2015.
(iii) Fundraising
The Company passed a resolution on November 14, 2014, to issue a 2nd unsecured bond with convertible bond-type stockacquisition rights (total issue price: 500 million yen) with Oak Capital Corporation as the allottee, and the 34th warrant(total issue price: 10,363 thousand yen, total issue price of stockwhen issued through the exercise of stock acquisition rights:
1,000 million yen). Accordingly, Oak Capital Corporation completed payment of 510,363 thousand yen to the Company on
December 1, 2014.
With regard to the 2nd unsecured bond with convertible bond-type stock acquisition rights, all stock acquisition rights
have been exercised and all bonds converted to the Company’s common stock in December, 2014.
(iv) Business results
As a result of the above, net sales totaled 1,955,027 thousand yen for the fiscal year ended December 31, 2014, primarilyreflecting product sales of SyB L-0501 in Japan and overseas markets. Net domestic sales of TREAKISYM® showed ayear-on-year increase of 12.9%. While net overseas sales increased by 3.6 times compared to the previous fiscal year mainly
due to the recognition of sales from the fulfillment of early purchase orders in South Korea, milestone revenue showed ayear-on-year decrease of 85.0%. In total, net sales increased by 27.6% compared to the previous fiscal year.
Selling, general and administrative expenses totaled 1,829,918 thousand yen (a year-on-year decrease of 8.4%), including
research and development (“R&D”) expenses of 774,103 thousand yen (a year-on-year decrease of 26.5%) primarily due to
expenses associated with clinical trials for SyB L-0501, SyB L-1101 and SyB C-1101, and other selling, general andadministrative expenses of 1,055,815 thousand yen (a year-on-year increase of 11.6 %).
As a result, operating loss of 1,303,279 thousand yen was recognized for the fiscal year ended December 31, 2014
(operating loss of 1,680,528 thousand yen for the previous fiscal year). In addition, the Company recorded non-operating
expenses totaling 22,288 thousand yen primarily comprising commission fees and stock issuance costs, and non-operating
income totaling 215,251 thousand yen primarily due to foreign exchange gains. This resulted in an ordinary loss of
1,110,316 thousand yen (ordinary loss of 1,601,424 thousand yen for the previous fiscal year) and net loss of 1,115,877
thousand yen (net loss of 1,605,224 thousand yen for the previous fiscal year).
Segment information is omitted since the Company operates within a single segment of the pharmaceutical industry,including ther development and commercialization of drugs, manufacturing, marketing and other related activities.
(Forecast for FY 2015)
While anticipating an increase in sales of the anticancer TREAKISYM® which has been on the market in Japan since
December, 2010, the Company expects net sales of 1,870 million yen in FY 2015, a 4.3% decrease from FY 2014 as aresult of filling a purchase order the Company received from Eisai Korea in FY 2014 which had previously been expected
in FY 2015. Meanwhile, along with its continued efforts to obtain marketing approval for additional indications of the
anticancer drugs SyB L-0501, SyB L-1101 and SyB C-1101, the Company plans to continue with negotiations to conclude
concllicense agreements for new drug candidates.
With the aim of further enhancing the Company’s value in the long term, the Company will advance the development of
its pipeline as a whole. To this end, the Company anticipates R&D expenses of 1,886 million yen (774 million yen in FY2014) and selling, general and administrative expenses of 2,999 million yen (1,829 million yen in FY 2014), including
R&D expenses.

-2-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Major development plans of the Company’s pipeline are as follows:[Anticancer agent: SyB L-0501]
With respect to Phase II clinical trials in patients with frontline low-grade non-Hodgkin's lymphoma and mantle cell
lymphoma, the Company will continue to prepare its application for marketing approval in Japan, considering the approval
status of the application in the EU.
With respect to the Phase II clinical trial in patients with chronic lymphocytic leukemia, the Company will complete thetrial as soon as possible and proceed with preparations for the next clinical trial.
[Anticancer agents: SyB L-1101 (intravenous formulation), and SyB C-1101 (oral formulation)]
As for the intravenous formulation, SyB L-1101, the patient enrollment in Phase I clinical trial for the target indication ofrefractory/relapsed higher risk MDS, which is currently underway in Japan, was completed in January, 2015, and steps forcompletion of the trial are now underway. Assessment of the Company’s subsequent approach to domestic development
will take into consideration Onconova’s future development plan in the U.S. and Europe.
As for the oral formulation, SyB C-1101, the Company will continue with its domestic Phase I clinical trial for the target
indication of higher risk MDS. After completing the Phase I clinical trial for the target indication of higher risk MDS which
is currently underway in Japan, the Company plans to carry out development for the indications of higher risk MDS (incombination with azacitidine) and transfusion-dependent lower risk MDS. The Company’s participation in global clinical
trials for such development is being considered.
[New drug candidate]
The Company will continue with negotiations with the aim of concluding license agreements for new drug candidates,and begin preparations for clinical trials upon concluding these agreements.
As a result of these planned activities, net sales of 1,870 million yen, operating loss of 2,452 million yen, ordinary loss of
2,481 million yen, and net loss of 2,485 million yen are projected for FY 2015.

(2) Financial position analysis(Analysis of assets, liabilities, net assets, and cash flows)
Total assets as of December 31, 2014 stood at 7,453,799 thousand yen, a decrease of 233,147 thousand yen from the previous
fiscal year end. This was primarily due to a decrease of 471,155 thousand yen in cash and deposits and 201,014 thousand yen inmarketable securities, offsetting an increase of 272,656 thousand yen in accounts receivable-trade, 119,532 thousand yen inmerchandise and finished goods, and 110,725 thousand yen in noncurrent assets.
Liabilities stood at 490,223 thousand yen, an increase of 236,272 thousand yen from the previous fiscal year end, primarilyreflecting an increase in accounts payable-trade.
Under net assets, increases due to the issuance of new shares and new stock acquisition rights were offset by a decrease of
1,115,877 thousand yen in retained earnings (accumulated deficit) due to recording aa net loss; thus, total net assets decreased by
469,419 thousand yen from the previous fiscal year end to 6,963,576 thousand yen. As a result, the equity ratio decreased by 4.7
percentage points from the previous fiscal year end to 90.7%.
Cash and cash equivalents (“cash”) stood at 5,092,075 thousand yen, a decrease of 202,601 thousand yen from the previous
fiscal year end. This was mainly due to a cash decrease from operating activities resulting from loss before income tax, despite
an increase in cash flows from investing activities due to the issuance of stock acquisition rights.
Cash flows from each activity and factors for this fiscal year end are as follows:(Cash flow from operating activities)
Cash flow from operating activities showed an overall decrease of 1,266,174 thousand yen (a decrease of 1,677,348
thousand yen in the previous fiscal year) due to decreasing factors such as a net loss before tax of 1,112,077 thousand yen, andan increase in accounts receivable-trade of 272,656 thousand yen and inventories of 119,532 thousand yen, despite increasing
factors such as an increase of accounts payable-trade of 305,996 thousand yen, a recorded share-based compensation expenseof 94,731thousand yen, decrease of advances paid by 28,021 thousand yen, and prepaid expenses of 25,367 thousand yen.
(Cash flow from investing activities)
Cash flows from investing activities showed an overall increase of 314,413 thousand yen (a decrease of 1,332,254 thousand
yen in the previous year) mainly due to proceeds from the redemption of securities of 1,700,000 thousand yen and proceeds-3-SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

from withdrawal of time deposits of 858,971 thousand yen despite decreasing factors such as the purchase of marketablesecurities of 1,500,000 thousand yen and investments in time deposits of 600,000 thousand yen.
(Cash flow from financing activities)
Cash flows from financing activities showed an increase of 543,700 thousand yen (an increase of 4,056,658 thousand yen in
the previous fiscal year) due to an issuance of corporate bonds with stock acquisition rights of 500,000 thousand yen and an
issuance of stocks resulting from the exercise of stock acquisition rights of 43,830 thousand yen.
(Index trend related to cash flow)
6th Term

7th Term

8th Term

9th Term

10th Term

Fiscal year ended

Fiscal year ended

Fiscal year ended

Fiscal year ended

Fiscal year ended

December 2010

December 2011

December 2012

December 2013

December 2014

95.8

91.0

88.6

95.4

90.7

－

126.0

104.3

151.4

155.1

－

－

－

－

－

－

－

－

－

－

Equity ratio (%)
Equity ratio on a fairmarket value basis (%)
Debt redemption period(years)Interest coverage ratio

Equity ratio: Equity (total shareholders’ equity) /total assets
Equity ratio on a fair market value basis: total market value of common stock/total assets
Debt redemption period: Interest-bearing debt/cash flow from operating activities
Interest coverage ratio: cash flow from operating activities/interest payments(Notes)
1. Equity ratio on a fair market value basis is not shown in the 6th Term since the Company carried out an initialpublic offering in the 7th Term.
2. Total market value was calculated based on the number of shares issued, excluding treasury stocks.
3. Debt redemption period and interest coverage ratio are not available due to negative cash flow from operating
activities.

(3) Basic policies concerning profit distribution and dividends
Since the foundation of the Company, dividends have not been distributed.
Although the Company has recorded product sales, the Company continues to use funds for development activities. Therefore,
it is our policy to attempt to improve the balance sheet and retain funds for sustainable development activities rather than profit
distribution. However, we recognize that the return of profit to stockholders is an important management issue and will consider
the distribution of profit based on future business performance and financial conditions.
The articles of incorporation state that the Company can pay an interim dividend, based on a corporate resolution by the Boardof Directors, on June 30 every year as the recorded date. The Company can also distribute surplus by designating a record date inaddition to year-end and interim dividends. The decision making body is the Board of Directors for the interim dividend, andshareholders ( shareholders' meeting) for the year-end dividend.

(4) Business risks
Described below are major issues that may lead to potential risks in the Company's business activities. Issues that are notnecessarily considered significant by the Company are also disclosed in view of our commitment to actively disclose
information to investors and shareholders as these issues may carry weight in making investment decisions or in understanding
our business activities. The Company is fully aware of the potential risks, and will make utmost efforts to prevent such risks frommaterializing, but should they occur, we intend to take appropriate action. However, we realize that investment decisions
regarding our stock should be made carefully by evaluating the following matters, as well as other matters mentioned in othersections of this document. We would add that the following descriptions do not purport to cover all possible risks associated withinvestment in our stock. The future perspectives mentioned below reflect our understanding of our business circumstances as ofthe date of publication of this document.
(i) Risks associated with pharmaceutical development in general-4-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The Company's main business is to in-license drug development candidate compounds created by pharmaceuticalcompanies and bioventures, and to develop these into pharmaceutical products. The R&D field of pharmaceuticals is repletewith strong competition, including pharmaceutical giants. What is more, specialty pharmaceutical companies, including theCompany, emulate each other in quality and speed within the sector. The process from development to manufacture andmarketing involves many regulatory hurdles, necessitating a vast amount of capital input over a long period of time inbusiness operations. Their future prospects involve uncertainty and these risk factors are associated with the Company’spresent and future business activities.
a) Uncertainty involved in pharmaceutical development
Generally speaking, the pharmaceutical development process leading up to the launch of a drug requires a vast amount ofexpenditure over a long period. The probability of success is by no means high. In every stage of development, it is notuncommon for a decision to be made to halt or delay progress. In pharmaceutical development, the different stages ofdevelopment have to be conducted in phases, and at each phase a decision is made regarding whether or not development
should continue. Therefore, it is not rare for a decision to be made to stop development in mid-process. The probability is
low for development to progress successfully and for a product to be launched. Even after a product is successfully
developed and launched onto the market, there remains the risk that product approval is revoked due to the potential todamage a patient’s health (for details, refer to “(f) risk associated with side effects”). To reduce these risks, the Company
aims to possess several drug candidates in its pipeline and endeavors to prioritize insofar as possible the in-licensing of drugcandidates with confirmed POC (Note 1) in human subjects. For small specialty pharmaceutical business such as the Company,
the impact is huge if a single drug candidate is removed from its pipeline. This could have a significant effect on the
Company’s financial position, business performance, and cash flows.
(Note 1) POC (Proof of Concept) means confirming the efficacy and safety of a new drug candidate in clinical trials, andverifying the appropriateness of its concept.
b) Uncertainty of income
In order to raise income from the drugs we are developing, we need to succeed at all the stages of drug candidate
development, namely obtaining approval from regulatory authorities, manufacture and marketing either on our own or inpartnership with a third party. However, we may not necessarily succeed in these activities, or even if we do succeed, we
may not be able to ensure the margin of profitability needed to continue our business. Of the products currently in thedevelopment pipeline, the anticancer drug SyB L-0501 achieved approval for manufacturing and marketing in Japan on
October 27, 2010, for the indications of refractory/relapsed low-grade non-Hodgkin's lymphoma and mantle cell
lymphoma, and was launched as the anti-tumor agent TREAKISYM® in December, 2010 it. For additional indications, wehave completed Phase II clinical trials in refractory/relapsed intermediate/high-grade non-Hodgkin’s lymphoma, frontline
low-grade non-Hodgkin's lymphoma and mantle cell lymphoma, and are currently conducting a Phase II clinical trial inchronic lymphocytic leukemia. Furthermore, with respect to the anticancer agent rigosertib, domestic Phase I clinical trials
are being conducted with the intravenous formulation, SyB L-1101, for the target indication of refractory/relapsed higher
risk MDS; and with the oral formulation, SyB C-1101, for the target indication of higher risk MDS. We are promoting thedevelopment of these compounds, aiming to successfully launch the products onto the market to obtain income. In somecases, we may consider entering into an alliance with other pharmaceutical companies in development and marketing so as
to expedite the inflow of income. Notwithstanding our efforts, these drug candidates in our pipeline will require a
considerable amount of time under development before they reach the marketplace. There is no guarantee that they will
make it onto the market as viable products, or that an alliance agreement can be signed with other pharmaceuticalcompanies. We are of the opinion that the selection of indications and the methods of alliance and marketing identified thus
far promise sufficient future profitability after considering the market size and marketing performance of approved drugs.
However, should we prove to be wrong in our assessment, or should there be any change in the conditions on which theassessment is based and we fail to promptly adjust to such changes, there could be a significant impact on our financial
position, business performance, and cash flow.
c) Uncertainty in legislation and regulations requiring compliance, and the health insurance system
The pharmaceutical industry, the Company‘s core business, is subject to various regulatory restrictions imposed by laws
and administrative guidance with relates to the pharmaceutical drugs as well as other relevant legislations regarding all
aspects of business operations (i.e., research, development, manufacturing, marketing). We formulate our business plans inaccordance with the PMD Act and other current legislative regulations as well as the health insurance system, together with

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014drug pricing guidelines that emerges from this legislation. Notwithstanding, there is a possibility that these regulations,
regulatory systems and pricing will change before the products that we are developing reach the marketplace. If any majorchange does occur, there may be a significant impact on our financial position, business performance, and cash flow.
d) Risk concerning development and marketing overseas
We conduct our pharmaceutical business in Asia Pacific countries, not exclusively in Japan, where we anticipate thegrowth of healthcare needs and our position in certain therapeutic areas. In overseas markets, as in Japan, pharmaceuticaldevelopment and marketing generally require a vast amount of expenditure and are associated with business risk. To
reduce investment expenditure and spread business risk, we out-license the development and marketing of some of our drugcandidates to foreign companies. Before out-licensing the rights we possess, we select a licensee after careful due diligenceand careful monitoring when necessary. The development and sales of out-licensed products are subject to businessconditions of the licensee or any changes in the regulatory and competitive environment in respective countries, and may
fall below initial expectations, resulting in lowere milestone revenue and royalty income. In such cases, there may be an
impact on our financial position, business performance, and cash flow.
e) Competition in the pharmaceutical industry
The pharmaceutical industry is an intensely competitive sector. A large number of both Japanese and foreign
pharmaceutical companies and research institutions, including giant multinational pharmaceuticals, compete in the arena.
Technological innovation is progressing rapidly. Many competitors have a comparative advantage over the Company interms of technology, marketing and financial position. Thus, these companies may more efficiently produce and sellcompetitor products which are more effective than the Company’s developed products. This means that what transpires in
the competitive landscape with regards to development, manufacturing and marketing operations may have a significant
impact on our financial position, business performance, and cash flow.
f) Risk associated with side effects
Unexpected side effects may occur from the use of pharmaceutical products, from their clinical trial stage to postmarketing stage. When serious and unexpected side effects occur, compensation claims may arise, or depending on thesituation, there is the risk of a delay in clinical trial timelines or even discontinuation of product development. In the casewhere such side effects could lead to further damage to the health of patients, there is the risk of cancellation of approval or
discontinuation of sales. Regarding compensation claims, the Company has in place the liability insurance necessary tominimize the financial damage should such claims arise. However, this does not exclude the possibility that thecompensation awarded exceeds the amount insured. If this should occur, it could have a significant impact on the
Company’s financial position, business performance, and cash flow.
g) Product liability
The development and manufacture of pharmaceutical products involves product liability risk. If in the future any
products that we have developed cause damage to health or any adverse events are discovered during clinical trials,
manufacturing, sales or marketing of the drug, the Company will be subject to product liability. This may have a significant
impact on the Company’s financial position, business performance, and cash flow. Indeed, if a product liability suit is filed
against the Company, the Company’s corporate image could be damaged, leading to a loss of confidence in the Company
and the drugs it develops, impacting future business.
(ii) Risk in business operationsa) Risk concerning the Company’s business model
The Company does not own research and manufacturing facilities, mainly targeting orphan drugs (Note 2) in oncology,
hematology and autoimmune diseases, in-licensing drug candidates having POC established in human subjects frompharmaceutical companies and bioventures, developing and marketing pharmaceutical products in Japan and other Asia
Pacific markets (China, Hong Kong, Taiwan, Soth Korea, Singapore, etc.). The Company has adopted a business model toraise income and profit from such activities. In developing the pipeline and marketing, the Company plans to engage inalliances with other pharmaceutical companies. However, there is no guarantee that the Company can continuously inlicense drug candidate compounds that satisfy in-house criteria and secure these partner companies. In addition, as theCompany mainly targets orphan drugs for in-licensing (Note 3), and may not be able to generate expected sales turnover,
impacting the Company’s financial position, business performance, and cash flow. Needless to say, intense competition-6-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

within the pharmaceutical sector and changes in the Company's financial position may force the Company to revise its
business model. Should this occur, there may be a significant impact on the Company’s business.
(Note 2) The rare-disease field is one in which the need for medical treatment is great, but the numbers of patients requiring
drugs are small. Drugs for this field that are not undergoing rapid development are termed “orphan drugs”. In
order for the Japanese Ministry of Health, Labor and Welfare to designate a product as an orphan drug, thefollowing criteria must be met:i) It is used to treat a disease that affects less than 50,000 people in Japan,ii) There is a great need for medical treatment, andiii)The potential for development is high.
Designation as an orphan drug results in the following advantages: (a) the drug is given priority over otherproducts for regulatory review, reducing the time from regulatory submission to approval; (b) the re-examination
period can be extended up to 10 years; and (c) evaluation of an increased drug price can be expected.
(Note 3)“In-licensed drug candidates” are compounds for which the rights of development and commercialization are
obtained from other companies.
b) Dependency on a specific customer
As a specialty pharmaceutical company without production facilities, the Company needs to depend on the supply of
product from other companies when conducting clinical trials and marketing approved drugs. Given this fact, the financial
position and production conditions of the product supplier may have a significant impact on the Company’s financial
position, business performance, and cash flow. In pipeline development and marketing, the Companys current business plan
focuses on forming alliances with pharmaceutical companies. However, if the partner company's management situation
deteriorates unexpectedly or if management policies change, which are matters beyond the Company’s control, initialbusiness plans may not be realized. Also, if any breach of contract occurs that necessitates the termination of the license
agreement as stipulated, the alliance may also end. In such cases, there may be a significant impact on the Company’s
financial position, business performance, and cash flow. Typically, in license agreements with partner companies, revenues
to be gained before the drug reaches the marketplace will include an upfront payment upon signing the contract, fundingfor co-development and milestone payments. Of these, milestone payments are extremely unstable and unpredictable
income as they are based on the attainment of predefined results. If development progress is delayed, there may be asignificant impact on the Company’s financial position, business performance, and cash flow.
c) Risk concerning intellectual property rights
During drug development activities, the Company makes use of various intellectual property rights. The use of theserights basically has been granted from other companies such as pharmaceuticals and bioventures. However, the possibility
remains that the Company’s in-licensed drug candidate does not succeed in the pending patent application made by thelicensor. Moreover, it is difficult to completely avoid the possible creation of an intellectual property right by a third party
that supersedes the intellectual property right of the Company’s in-licensed drug candidate. . These situations could lead toa significant impact on the Company’s financial position, business performance, and cash flow. To date, no lawsuit has
been filed by a third party against the Company concerning intellectual property rights, including patents in connection withproduct development. When in-licensing a product, the Company seeks advice from lawyers and conducts a thorough due
diligence investigation through patent firms in order to reduce such intellectual property risks. Nevertheless, it is difficult torealize full protection from the occurrence of intellectual property right disputes involving the infringement of third party
rights, and these may have a significant impact on the Company’s financial position, business performance, and cash flow.
The candidate compounds that the Company in-licenses are not necessarily protected by patent. On the other hand, even if adrug candidate is not protected by patent, the assignment of the compound for review by the regulatory authorities would
virtually restrict the entry of generic drugs during the review period, realizing the monopolistic protection for a certain
period of time.
d) Data protection
To reduce the risk of significant confidential information relating to pipeline development and other business activities
from leaking outside the company, the Company engages in rigorous data protection. The Company requires directors,
Scientific Advisory Board (SAB) members, outsourcing partners, and other business partners to sign confidentiality
agreements. Even with the agreement in place, directors, SAB members, outsourcing partners and other business partners-7-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

may not adhere to confidentiality, and should this occur, significant confidential information may be divulged elsewhere,
which may impact the Company’s business, financial position, business performance, and cash flow.
e) Risk concerning important contracts
If any contracts that may have a significant impact on conducting the Company’s business operations are terminated due
to expiration, breach of contract or for any other reason, there may be a significant impact on the Company’s financial
condition, business performance, and cash flow.
(iii) Risk associated with organizationa) Risk of being a young company
SymBio is a young company founded in March 2005. Since inception, the Company has engaged in in-licensing
activities of drug candidates for development. The founding President and CEO built up the pharmaceutical development
business from scratch, and the Company recorded income from product sales in August 2010, for the first time in its
history. There is the possibility that business issues that SymBio has never encountered arise in the future. At the moment,
however, it is difficult to predict any changes in the external environmental factors that may affect the Company’s businessresults. Therefore, the Company considers business results for the past sevral years to be an inadequate reference to pass
judgment on whether or not the Company can continue to grow.
b) Risk of being a small corporation
The Company uses contract research organizations (CRO (Note 4)) in conducting R&D, thereby forming a development
framework requiring relatively small staff numbers. With progress in the development of the pipeline already in place andwith newly in-licensed drug candidates coming on line, the Company plans to increase its human resources in R&D.
However, for whatever reason should an alliance with a CRO terminate, or should the Company fail to secure the planned
number of staff or should existing staff decide to leave, the Company’s business operations may be hampered, leading to apossible impact on the Company’s financial position, business performance, and cash flow.
(Note 4) A contract research organization (CRO) is an organization to which a pharmaceutical company commissions
certain activities so as to avoid delays in the progress of its drug development activities. The details of thecommissioned activities may include monitoring to ensure that clinical studies are carried out in full accordancewith study protocols and clinical data management.
c) Dependency on a specific person
Fuminori Yoshida, the Representative Director, founding President and CEO, has played a key role since the Company’s
foundation in the implementation and execution of all operations in the company business management. Thus, in the eventthat he cannot continue to perform his corporate responsibilities for some unforeseen reason, this could have a significant
impact on the Company’s business operations.
d) Scientific Advisory Board (SAB)The Scientific Advisory Board (“SAB”) is an advisory panel to the Company on the potential in-licensing of new drugcandidates. The Company invites members of the panel from clinicians and scientists engaged in basic research who arehighly regarded in the healthcare industry due to their successful track records and wealth of experience. The SAB meets
two or three times a year to engage in active discussion and debate, with each member giving his/her own perspective on apotential drug candidate. The Company will continue in its efforts to acquire members of excellence for the SAB. However,
if difficulty should arise in procuring members for reasons such as the cancellation of contracts with existing members,
retirement or refusal to renew, or should a brain drain occur, there may be an impact on the Company’s ability to evaluate
and in-license quality drug candidates.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(ix) Business Resultsa) Business performance in previous years
The Company's key business indicators are given below:
Term

6th Term

7th Term

8th Term

9th Term

10th Term

Fiscal Year Ended

December 2010

December 2011

December 2012

December 2013

December 2014

Net sales (thousandyen)

1,449,972

1,882,521

1,955,178

1,532,054

1,955,027

Operating income (loss)(thousand yen)(612,793)(2,066,846)(1,700,273)(1,680,528)(1,303,279)

Ordinary income (loss)(thousand yen)

(638,375)(2,095,382)(1,729,480)(1,601,424)(1,110,316)

To date, with the exception of the 4th Term, the Company’s total R&D expenses and other general administrative
expenses exceeded the Company’s income, resulting in the posting of operating loss, ordinary loss and net loss. For thisreason, the Company does not consider the financial statements and indicators of previous years to provide adequate
reference data in making timely comparisons of business performance or in forecasting future business performance.
b) Expected Increase in R&D Expenditures
The Company's R&D expenses for the past five fiscal years are provided below:
Term

6th Term

7th Term

8th Term

9th Term

10th Term

Fiscal Year Ended

December 2010

December 2011

December 2012

December 2013

December 2014

R&D expenses(thousands of yen)

1,118,182

1,945,029

1,438,125

1,052,790

774,103

The Company intends to continue with R&D activities, resulting in an increase of cumulative loss for the foreseeable
future. With future increases in product sales revenue from additional indications of SyB L-0501, the product sales channels
upon early approval for SyB L-1101/SyB C-1101 and the income from alliances with pharmaceutical companies, theCompany intends to improve business performance as soon as possible; however, there is no guarantee that suchassumptions will materialize and swift performance improvement realized.
c) Retained earnings (accumulated deficits) brought forward
SymBio is a specialty pharmaceutical company. Until products under development at the clinical stage reach the market sothat the Company can continuously earn stable income through product sales and royalty income, the Company will post ahuge up-front outlay of R&D expenditures. Due to this, with the exception of the 4th term (2008), the Company has posted
net current losses since its foundation. At the end of the 10th Term, the fiscal year ended December 31, 2014, the Company
recorded anegative balance of 9,867,514 thousand yen as retained earnings brought forward (accumulated deficits brought
forward). SymBio intends to become a profitable business entity as early as possible by advancing its quality clinicalprograms in a rapid, precise and efficient manner as planned. However, the possibility still exists that profits may not be
generated at the time initially planned. Should the Company’s business fail to develop as planned and net profits are notgenerated, the Company faces the possibility of a considerable delay in negative retained earnings (accumulated deficits)
brought forward turning positive.
d) Fundraising
The nature of the Company's specialty pharmaceutical business means that the Company will require huge R&D funding.
If the SymBio’s business plan does not take shape as planned and it suffers a shortfall in funding, the Company will
endeavor to procure funds by changing strategic alliances, securing new alliance contracts or issuing new stock. However,if the Company fails to generate funds exactly when they are required, there may be a serious doubt cast over thecontinuation of its business operations.
e) Net operating loss for tax purposes
The Company currently has net operating loss carryforwards for tax purposes. For this reason, the Company is not
subject to corporate tax, local inhabitant tax and local enterprise tax at the standard rates and expects this to continue forseveral terms into the future.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

However, if net operating loss expires earlier than expected and can no longer be used as an offset to taxable income due
to such reasons as the revision of current tax treatment of net operating loss, the Company would become liable for thepayments of corporate tax, local inhabitant tax and local enterprise tax at standard rates, which may have an impact on net
profit/loss and cash flow currently planned.
(v) Other Risksa) Profit distribution to stockholders
Since the foundation of the Company, dividends have not been distributed. SymBio is currently at the business stage ofmaking upfront investment for the development of pharmaceutical drugs and continues to prioritize the use of funds forstrengthening its financial position and for continued R&D activities. Thus, the Company has at present no plans formaking dividend payouts. However, the Company recognizes that the return of profit to stockholders is an importantmanagement issue and will consider profit distribution based on future business performance and financial condition.
b) Procurement of funds
As the Company rapidly expands its business, it expects to see an increase in development funding requirements. One
option for procuring funds is to issue new stock. By doing so, the number of outstanding stock will increase, potentiallydiluting the value per share of the Company’s stock.
c) Stock value dilution by execution of stock acquisition rights
The Company adopted the stock option plan in order to motivate and encourage higher business performance of board
directors, employees, and collaborators, and to attract human resources of excellence. In accordance with the Commercial
Code of 1890 Article 280-19, 280-20 and 280-21, and the Companies Act Article 236, 238, 239 and 240, stock acquisitionrights are granted to board directors and employees.
The Company made a resolution at the Board of Directors meeting held on December 27, 2012 to issue the first
unsecured convertible bond with stock acquisition rights (total issue price: 1 billion yen) and the 29th warrant (total issue
price: 5.1 million yen by way of third-party allotment, total issue price of stocks when issued through the exercise of stockacquisition rights: 500 million yen). Moreover, the Company made a resolution at the Board of Directors meeting held on
November 14, 2014 to issue the second unsecured convertible bond with stock acquisition rights (total issue price: 500
million yen) and the 34th warrant (total issue price 10,363 thousand yen by way of third-party allotment, total issue price ofstocks when issued through the exercise of stock acquisition rights: 1 billion yen). As of December 31, 2014, the following
warrants remained unexercised: 30 units of the 29th warrant (the number of shares issued upon the exercise of warrants:
795,750) and 30,304 units of the 34th warrant (the number of shares issued upon the exercise of warrants: 3,030,400).
As of December 31, 2014, the number of potential dilutive shares from the above-mentioned stock acquisition rights(“number of potential shares”) totaled 6,799,150 shares and comprised approximately 17.3 % of the total number ofoutstanding shares and potential shares added together.
There is the possibility that stock value per share for the Company will be diluted if these potential shares are exercisedin the future. To attract talent, the Company may continue to offer similar incentives. This means that if these stockacquisition rights are exercised in the future, the stock value per share of the company may be diluted.
d) Legal risk pertaining to unregistered offering of stock acquisition rights in the past
The Company has granted stock acquisition rights under the stock option plan as long term incentives for board directors
and employees as well as collaborators since the Company’s foundation in March, 2005.
Stock acquisition rights have been issued since the inception of the plan, paying special attention to a provision of the
Securities and Exchange Law of 1948 that board directors and employees are excluded from the calculation of the numberof persons receiving minority private offering. However, even after the Order for Enforcement of the Financial Instruments
and Exchange Act, Article 2-12 was no longer exempt (the article had purported to exempt the application of the provisionthat required the exclusion of directors/officers and employees from the calculation of persons receiving small private
offerings in case stock acquisition rights were granted to persons other than directors/officers and employees) due to theamendment of the Guidance for Corporate Information and Related Disclosure in response to the revision of the Financial
Instrument and Exchange Act in September 2007, we had continued to issue stock acquisition rights in accordance with theprovisions of the Securities and Exchange Act 1948 due to the malfunction of internal organizations to collect information
regarding revision of laws and ordinances and assess their implications to the Company.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

As aconsequence, it came to light that we had not duly submitted the Securities Registration Statements for the stockacquisition rights issued in October 2008, March 2009, and March 2010 despite there being legal obligations to do so as thenumber of persons receiving offers had exceeded 50, rendering them unregistered offerings prohibited by law.
Upon discovery of this lapse, the Company immediately reported the fact to the Kanto Local Finances Bureau andlaunched a thorough enquiry into how and why such omission arose, and swiftly submitted the legally required disclosure
documents in August, 2010. As of the date of this document, the Company has duly filed all required disclosures.
Furthermore, based on in-house findings concurrently obtained regarding the cause of omission and advice received fromexternal experts, measures to prevent recurrence were formulated and strictly put into effect focusing on the following five
objectives: 1. Re-education regarding compliance at the entire company level, 2. Creation of compliance mechanisms andinternal organization reinforcement, 3. Reinforcement of compliance committee functions, 4. Reinforcement of relations
with, and active use of, external experts, 5. Reinforcement of a system of checks and balances by the board of auditors andinternal audit office.
The Company has not received any surcharge payment order related to this incident as of the date of this document.
Should the Company receive any surcharge payment order, however, it may have a significant impact on the Company’s
financial position, business performance, and cash flow.
e) Stock holding by venture capitalIn general, venture capital and investment partnerships own shares for the purpose of realizing capital gains by sellingshares after IPO. There is the possibility that venture capitals and investment partnerships that own SymBio shares may sell
all or a portion of such shares, and should this occur, it could have an impact on the market price of the Company’s shares.
f) Risk of loss on foreign exchange
While continuously performing research on drug candidates for new development to expand its pipeline, the Company
arranges large amounts of fund procurements by means of deposits denominated in foreign currency or foreign exchange
contracts based on the assumption that deposit payments in U.S. dollars will be required upon in-licensing. Where such
assets denominated in foreign currency are stated at market value in financial statements at every year end, there is a risk ofloss from fluctuating currency valuation in the future and this may have an impact on the Company’s financial position,business performance, and cash flow.
g) Risk associated with natural disasters
Any disasters (earthquake, typhoon, fire, etc.) and plague that occur in the Company’s geographic business domain,
leading to the occurrence of human and material damage, or suspension and delay in business, fall in social credibility andcompensation issues, may have an impact on the Company’s financial position, business performance, and cash flow.

2. Status of corporate group
None to be reported.

3. Management policies(1) Basic policy of company management
SymBio Pharmaceuticals Limited was established in March, 2005 by Fuminori Yoshida, who previously served concurrently
as Corporate VP of Amgen Inc. (Note 5) (United States) and President of Amgen K.K., a wholly owned subsidiary of Amgen Inc.,(now part of Takeda Pharmaceutical Company Limited) for 12 years since its estabishment.
The Company aims to achieve social and management responsibilities by responding to unmet medical needs (Note 6) based on
the guiding principle of mutual harmony, creating an intricate symbiotic relationship between patients, physicians, scientists,
regulators and investors.
The Company regards underserved therapeutic areas with extremely significant medical needs as a business opportunity andremains focused on the areas of oncology, hematology, and autoimmune diseases where high entry barriers exist due to the highdegree of specialization required. In this sense, SymBio is the first specialty pharmaceutical company (Note 7) in Japan. Rather than
exploring opportunities to in-license and develop new blockbuster drugs (with sales exceeding100 billion yen), the Company
channels its resources into the development of drugs in underserved markets where medical needs are high despite limited patientnumbers. Securing multiple drug approvals in these key therapeutic areas will enable the Company to build a solid and diverse
pipeline to ensure business sustainability.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Note 5) Applied Molecular Genetics, or Amgen Inc., the world’s largest company in the biopharmaceutical field, wasfounded in Thousand Oaks, California, in 1980, and started business in Japan as Amgen K.K. on May 1, 1993.
After Takeda Pharmaceutical Company Limited (“Takeda”) acquired 100% of Amgen K.K.’s stock in February
2008, its operations were merged into Takeda.
(Note 6) “Unmet medical needs” means requirements for medical treatment that have not yet been fulfilled. It refers to asituation in which no effective drugs or treatments are currently available, despite strong demand by patients
and/or physicians.
(Note 7) “Specialty pharmaceutical company” refers to a company that develops new drugs and has been given a consistently
high international evaluation for a particular field of excellence. This is based on the definition in the Ministry of
Health, Labor and Welfare’s “Vision for the pharmaceutical industry” (2002).

(2) Key performance index
In order to enhance SymBio’s enterprise value as a specialty pharmaceutical company, it is important to continually in-license
new quality drug candidates for development, to successfully complete clinical development and secure marketing approvals inorder to sell drugs in the marketplace with the establishment of a sales and support system. To this end, the Company intends tocontinue aggressively investing resources into R&D activities.
For the current fiscal year end, the Company has recorded net sales from SyB L-0501 for the first time since the drug was
initially approved for sale in Japan and Singapore in 2010.
However, product sales have not generated sufficient revenue to cover the aforementioned upfront investment at this time, andgenerating net profit has still to be realized. The Company continuously seeks stable profitability by promoting TREAKISYM®
in collaboration with Eisai, with plans to expand the number of approved indications for SyB L-0501, to acquire early approvalsfor SyB L-1101/SyB C-1101, and to expand its pipeline with the in-licensing of early-stage to late-stage quality drug candidates.

(3) Pipeline
The Company currently has the following pipeline products under development: SyB L-0501, SyB L-1101 and SyB C-1101.
The Company will continue to in-license new candidate drugs to expand and build its pipeline portfolio with a balanced riskreturn trade-off.
(i) SyB L-0501
Bendamustine hydrochloride (the generic name) is an anticancer drug that has been in use for a number of years in Germany
under the trade name of Ribomustin for the treatment of non-Hodgkin's lymphoma (Note 8), multiple myeloma, and chronic
lymphocytic leukemia. The Company decided to in-license this product because there is currently no effective medication for
the indications of refractory/relapsed low-grade non-Hodgkin’s lymphoma and mantle cell lymphoma. These are underserved
therapeutic areas aligned with the Company’s corporate missions and also fall within one of SymBio’s targeted therapeutic
fields (hematologic cancer). Astellas Deutschland GmbH is the worldwide licensor of bendamustine hydrochloride. Cephalon,
Inc. (United States) licensed rights to bendamustine for North America from Astellas Deutschland GmbH and obtained
approvals from the U.S. Food and Drug Administration (FDA) to use the drug for the treatment of chronic lymphocytic
leukemia and refractory B-cell non-Hodgkin’s lymphoma in March, 2008 and October, 2008, respectively. Mundipharma
International Corporation Limited (United Kingdom) and Janssen-Cilag (United Kingdom) are also licensed from Astellas
Deutschland GmbH and have obtained exclusive rights for the development and commercialization of bendamustine in Europe
and other regions, respectively. The Company is licensed from Astellas Deutschland GmbH with exclusive rights for thedevelopment and commercialization of bendamustine in Japan, China, Hong Kong, Taiwan, South Korea and Singapore. In
Japan, the drug has received approval for the indications of refractory/relapsed low-grade non-Hodgkin’s lymphoma andmantle cell lymphoma (October 27, 2010), and was launched under the trade name TREAKISYM® on December 10, 2010.
In addition, the Company is making progress in its clinical development of bendamustine for refractory/relapsedintermediate/high-grade non-Hodgkin’s lymphoma, frontline low-grade non-Hodgkin’s lymphoma, mantle cell lymphoma andchronic lymphocytic leukemia, as new indications. The Company intends to maximize the commercial value of bendamustineby further promoting life cycle management. Eisai has signed an agreement with SymBio for the right of joint development
and exclusive marketing right in Japan, and it is currently marketing TREAKISYM®.
In Asia, SyB L-0501 received the approval for the indication of low-grade non-Hodgkin’s lymphoma and chronic
lymphocytic leukemia in Hong Kong in December, 2009. In China and Hong Kong, Cephalon, Inc. has the exclusive right to- 12 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

develop and sell bendamustine, and is currently generating sales in Hong Kong. In addition, approval for the indications of
low-grade non-Hodgkin’s lymphoma and chronic lymphocytic leukemia was obtained in Singapore in January, 2010. In South
Korea, approval for the indications of chronic lymphocytic leukemia and multiple myeloma was obtained in May 2011, andapproval for the indication of refractory/relapsed low-grade non-Hodgkin’s lymphoma was achieved in June, 2014.
In South Korea and Singapore, Eisai has agreements in place with SymBio for exclusive development and marketing rights.
Eisai’s subsidiaries launched the product in Singapore and South Korea in September, 2010 and October, 2011, respectively.
Cephalon is making progress with clinical development in China, and in Taiwan SymBio’s business partner, InnoPharmax,
Inc. (Taiwan), achieved approval for the indications of low-grade non-Hodgkin’s lymphoma and chronic lymphocytic
leukemia in October, 2011, followed by product launch in February, 2012.
(Note 8) Non-Hodgkin’s lymphoma (NHL) is a cancer of lymphatic system in which lymphocytes develop malignant
growths other than Hodgkin’s lymphoma. The majority of Japanese patients are suffering from NHL.
Antibody therapy with rituximab (Note 9) administered as first-line drug is the standard treatment for NHL. However,there is currently no established therapy for failed or relapsed cases.
(Note 9) Rituximab is an anti-CD20 monoclonal antibody used to treat the indication of CD20-positive B-cell non-Hodgkin
lymphoma. The formulation marketed in Japan is 10 mg/mL Rituxan® injection, with manufacturing andmarketing by Zenyaku Kogyo Co., Ltd., and sales by Chugai Pharmaceutical Co., Ltd.
(ii) SyB L-1101/ SyB C-1101
The drug with the generic name “rigosertib”, SyB L-1101 (intravenous formulation) and SyB C-1101 (ooral formulation), isan anti-cancer agent with a unique type of multi-kinase inhibitory activity (note 10). It is currently being developed in the U.S.
and Europe by a U.S. company, Onconova Therapeutics, Inc. (“Onconova”), for the indications of myelodysplastic syndrome(“MDS”) and solid tumors. MDS is the pre-pathological state for malignant tumors of blood cells, which have shown
increasing numbers of patients in recent years; it frequently affects elderly people; and it is a refractory disease, with a highprobability of developing into leukemia. No effective medication is available yet, especially for refractory/relapsed MDS, andit therefore constitutes an underserved therapeutic area.
In July 2011, the Company signed a license agreement with Onconova, providing the exclusive right to develop andcommercialize rigosertib in Japan and South Korea. Based on this agreement, the Company continues to develop theintravenous (IV) rigosertib formulation for the indication of refractory/relapsed higher risk MDS and the oral formulation foreach indication of higher risk MDS (in combination with azacitidine) and transfusion-dependent lower risk MDS.
In February 2014, Onconova released the results from the Phase III randomized ONTIME trial of IV rigosertib in patientswith refractory/relapsed higher risk MDS. Treatment with IV rigosertib plus Best Supportive Care (BSC) did not demonstrate
a statistically significant improvement in median overall survival when compared to BSC only. However, a post-hot analysis
demonstrated a statistically significant increase in median overall survival in the subset of patients who had progressed on or
failed previous treatment with HMAs, thus demonstrating potential activity or rigosertib in these MDS patients.
Onconova continued its discussions with the U.S. and European regulatory agencies regarding the possibility of approval
based on the top-line results of the Phase III ONTIME trial. These discussions have consequently led Onconova to focus its
development efforts for the unmet medical need in patients who do not respond to the treatment with the current standard ofcare hypomethylating agents (“Primary HMA Failure”). Onconova recognized the necessity of the early development ofeffective therapies in this area and announced to update its clinical development plan with Primary HMA Failure.
The Company will continue Phase I clinical development in Japan and reassess the domestic development plan bycontemplating Onconova’s development plan in the U.S. and Europe.
As for the oral formulation, Onconova has been conducting Phase II clinical trial for the indication of transfusion-dependent
lower risk MDS and Phase I/II clinical trial for the indication of frontline higher risk MDS(in combination with azacitidine).
After completing Phase I clinical trial for the target indication of higher risk MDS which is currently in progress in Japan,
the Company plans to carry out development for the indications of higher risk MDS (in combination with azacitidine) andtransfusion-dependent lower risk MDS. The Company considers participating in global clinical trials for such development.
While Onconova is making steady progress with development, we will look into the option of developing for indications
other than MDS. By allocating development of the oral and intravenous formulations to different indications, it is hoped that
progress will be made with development of treatment methods that are easy for patients to use, and that place sufficientimportance on the need for compliance.
(Note 10) Multi-kinase inhibitors impede the growth, proliferation and metastasis of cancer cells, thereby eradicating them.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(4) Medium to long-term strategy
The Company is pursuing primarily the following five strategies in order to achieve our Long Range Plan (LRP).
(i) De-risking by post-POC strategy
We in-license drug candidates for which POC (proof of concept) is already confirmed in human subjects in principle.
Accordingly, they should be the drugs that are in a relatively late stage of clinical development or already on the market
overseas. The advanced development is already conducted overseas for these drug candidates and their efficacy and safety are
already confirmed in human subjects, thereby reducing the development risk. We utilize existing clinical data available
overseas so as to compress development timelines, reduce the development costs, and increase the likelihood of regulatory
approvals in Japan and Asian markets.
(ii) Building a high-quality pipeline with exceptional search and evaluation capabilities
Our new drug search engine is connected to the diverse network of pharmaceutical companies and bioventures, and enables
us to select promising drug candidates from the vast amount of chemical compounds after the careful review by internal
experts. Using their wealth of experience at the forefront of research and development, Scientific Advisory Board (SAB)
members carefully evaluate and render final judgment on each drug candidate. The highly established screening process up to
the final selection of drug candidate, coupled with the post-POC strategy, reduces the development risk and compresses
timelines. It also helps to understand how satisfactorily the healthcare needs are met and to improve the accuracy of revenue
projections after the product launch.
(iii) Containment of fixed costs by labless/fabless strategy
The Company does not own any research or production facilities, which are often regarded as the main cause of fixed costs.
Once drug candidates are searched and selected, we focus on value-added activities such as the formulation andimplementation of development strategy and outsource other necessary routines. This enables us to reduce development costsof pharmaceutical drugs and secure the mobility of financial strategy.
(iv) Realization of high business efficiency by “Blue Ocean strategy” (Note 11)
There are many cases that the standard drug used overseas cannot be prescribed in Japan or a new drug is launched in Japan
five years behind its initial approval overseas. This problem is called “drug lag” and becoming aggravated, and the term
“cancer patient refugee” has been created. The drag lug is conspicuous in our strategic therapeutic areas of oncology,
hematology, and autoimmune diseases. The market of anticancer drugs is huge and still continues to grow with the population
being aged. However, anticancer drugs have a wide range of indications and they are fragmented by type of cancer. There is
only the limited number of patients in some therapeutic areas depending on type of cancer. Extremely high degree of
specialization is required for the development of anticancer drugs in these therapeutic areas, which are often financiallyunattractive for larger pharmaceutical companies to pursue despite the high degree of development difficulty. This partiallyaccounts for the causes for the drug lag. Contrarily, once a new drug succeeds in receiving an approval and reaching themarket for these therapeutic areas, we would be able achieve a superior growth and profitability due to the lack of fierce
competition by continuously expanding the indications and bringing new products into the market.
(Note 11) “Blue Ocean strategy” means a strategy of redefining the market, avoiding marketplaces where there is fierce
competition to snatch pieces of a finite market-share “pie”, termed “red oceans”, and instead creating a “blueocean”, which is a competition-free, entirely unexploited market, enabling profits to be maximized while providing
customers with high-value products and services.
(v) Expanding Business in Asia Pacific Countries
Significant growth in medical needs and increasing demand for higher quality therapeutic options are expected in Asian
countries as they continue to undergo rapid economic development. Similar to in Japan, the trend observed is that thedevelopment of new drugs is stagnant with the population being rapidly aging in these countries. Indications in oncology,
hematology, and autoimmune diseases are emerging as areas of unmet medical needs with rising demand for effective
therapies. We secure the rights to manufacture and commercialize anticancer drugs SyB L-0501 and SyB L-1101/SyB C-1101
in Asian countries as well as in Japan.

- 14 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(5) Issues to be addressed by the Company
The Company has a commitment to improve the following issues as a priority challenge for management.
(i) Further expansion of pipeline
In order to enhance the enterprise value as a specialty pharmaceutical company, we need to expand the pipeline throughcontinually in-licensing of new candidate drugs for development.
Clinical trials are underway for our products: SyB L-0501 (anti-cancer drug) and SyB L-1101 (the intravenous
formulation)/C-1101 (the oral formulation). We continue with ongoing efforts to in-license new products in order to expand
our pipeline. In addition, progress is currently being made with evaluation of several new candidate products and negotiationof license agreements.
(ii) Pursuit of life cycle management of TREAKISYM® (SyB L-0501) and rigosertib (SyB L-1101/ SyB C-1101)
In order to enhance the enterprise value, it is critical to maximize returns from each drug under development by adding new
indications for developed drugs after their initial introduction in pursuit of life cycle management.
TREAKISYM® has received approval for manufacture and marketing with the approved indications of refractory/relapsed
low-grade non-Hodgkin’s lymphoma and refractory/relapsed mantle cell lymphoma. For additional indications, Phase II
clinical trials were completed for refractory/relapsed intermediate/high-grade non-Hodgkin's lymphoma, frontline low-grade
non-Hodgkin’s lymphoma and mantle cell lymphoma, and Phase II clinical trial is underway for chronic lymphocytic
leukemia.
Progress is being made with development of intravenous and oral rigosertib formulations for the indication of
myelodysplastic syndrome (MDS). No useful therapeutic agents are currently available for this indication, so it is an area withvery high unmet medical needs.
The Company will continue Phase I clinical trial in Japan and reassess the domestic development plan by contemplating
Onconova’s future development plan in the U.S. and Europe. As for the oral formulation, the Company will continue thedomestic Phase I clinical trial for the target indication of higher risk MDS. After completing Phase I clinical trial for the target
indication of higher risk MDS which is currently in progress in Japan, the Company plans to carry out development for theindications of higher risk MDS (in combination with azacitidine) and transfusion-dependent lower risk MDS. The Company
considers participating in global clinical trials for such development.
The aim for the future is to maximize the value of TREAKISYM® and rigisertib by further expansion of indications and byfollowing through with life-cycle management.
(iii) Expansion to other Asian regions
The Company positions China (Hong Kong), South Korea, Taiwan, and Singapore as our important strategic geographic
domains in addition to Japan. In these areas, high growth in economy and medical needs is expected and we consider thatthese areas will assume increasing importance in our corporate strategy.
Among our pipelines, we plan to develop and market SyB L-0501 in China (Hong Kong), South Korea, Taiwan, andSingapore as well as Japan. The Company believes that significant medical needs exist for SyB L-0501 in these countries. It isalso planned to develop and market SyB L-1101/ SyB C-1101 in South Korea other than Japan. The Company will
aggressively launch clinical trials on these drugs and apply for marketing approvals in these Asian countries.
(iv) Securing people
The Company places the highest priority on people as the company management resource. We cannot make superiorachievements in exploring and developing new drugs without talent. We have been continually recruiting talented people,
especially after listed; we have recruited the best and brightest people in order to strengthen the management organization.
Going forward, we plan to further strengthen our human resources by providing development programs such as OJT and othertrainings.
(v) Financial issue
It is necessary for the Company to raise funds required for business activities such as R&D expenditures as the pipeline
development progresses and the number of drug candidates increases. Therefore, we make every effort to strengthen thefinancial base by continually diversifying the method for fund procurement and reducing costs thorough budget control.

(6) Other important matters concerning the Company’s management
Capital increase through a third-party allotment- 15 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The Company made a resolution on November 14, 2014 regarding the subscription for the 2nd unsecured bonds withconvertible bond type stock acquisition rights and the 34th warrant by third-party allotment. The proceeds of 510,363
thousand yen had been paid in on December 1, 2014.
With regard to the 2nd unsecured bond with convertible bond type stock acquisition rights, all stock acquisition rights havebeen exercised and all bonds converted to the Company’s common stock in December, 2014.

- 16 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

4. Financial statements(1) Balance sheets
FY 2013(as of December 31, 2013)
AssetsCurrent assets
Cash and deposits
Accounts receivable-tradeMarketable securities
Merchandise and finished goods
Supplies
Prepaid expenses
Advances paid
Consumption taxes receivable
Forward exchange contracts
Other
Total current assets
Noncurrent assets
Property, plant and equipment
Buildings
Accumulated depreciation
Buildings, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
Total property, plant and equipment
Intangible assets
Software
Software in progress
Lease assets
Total intangible assets
Investments and other assets
Long-term prepaid expenses
Lease and guarantee deposits
Total investments and other assets
Total noncurrent assets
Total assets- 17 -(Unit: thousands of yen)
FY 2014(as of December 31, 2014)

6,163,231－
1,100,270
125,056173
64,30687,86232,552
52,438
8,072
7,633,962

5,692,075
272,656
899,256
244,588379
36,69059,84019,97433,23531,392
7,290,088

7,705(5,260)2,444
33,921(27,733)
6,187
8,632

21,874(320)
21,55447,032(19,590)
27,441
48,996

5,898
－
1,891
7,789

62,2732,556
1,243
66,073

9,427
27,13536,562
52,985
7,686,947

1,351
47,28948,641
163,710
7,453,799

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Unit: thousands of yen)
FY 2013
FY 2014(as of December 31, 2013) (as of December 31, 2014)
Liabilities
Current liabilities
Accounts payable-trade
Lease obligations
Accounts payable-other
Income taxes payable
Other
Total current liabilities
Noncurrent liabilities
Lease obligations
Provision for retirement benefits
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Common stock
Capital surplus
Legal capital surplus
Total capital surplus
Retained earnings (accumulated deficits)
Other retained earnings
Retained earnings (accumulated deficits)
brought forward
Total retained earnings (accumulated deficits)
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Unrealized holding gain (loss) on securities
Total valuation and translation adjustments
Stock acquisition rights
Total net assets
Total liabilities and net assets- 18 -－
682
207,134
22,554
20,569250,941

305,996692
142,884
21,254
17,119487,946

1,334
1,675
3,009
253,950

642
1,634
2,276
490,223

8,058,860

8,330,775

8,028,860
8,028,860

8,300,775
8,300,775(8,751,636)(9,867,514)(8,751,636)(17)
7,336,067(9,867,514)(17)
6,764,019

167
167
96,761
7,432,996
7,686,947

(744)
(744)
200,300
6,963,576
7,453,799

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(2) Statements of operations

Net sales
Net sales of goods
Rights income
Total net sales
Cost of goods soldBeginning goods
Cost of purchased goods
Purchase allowance and returns
Total
Ending goods
Cost of goods sold
Gross profit
Selling, general and administrative expenses *1, *2
Operating loss
Non-operating income
Interest income
Interest on securities
Foreign exchange gain
Dividends income of insurance

Other
Total non-operating income
Non-operating expenses
Interest expenses
Commission fee
Stock issuance cost
Other
Total non-operating expenses
Ordinary loss
Extraordinary gain
Gain on reversal of stock acquisition rights
Total extraordinary gain
Extraordinary loss
Loss on retirement of noncurrent assets *3
Total extraordinary losses
Loss before income taxes
Income taxes-current
Total income taxes
Net loss- 19 -FY 2013(from January 1, 2013
to December 31, 2013)(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)

1,432,054
100,000
1,532,054

1,940,027
15,0001,955,027

164,571
1,175,305
759
1,339,117
125,056
1,214,061
317,993
1,998,522(1,680,528)

125,056
1,550,246
2,325
1,672,976
244,588
1,428,388
526,639
1,829,918(1,303,279)

7,030
3,003
97,593
1,104
5,733
114,467

16,372
8,475
188,9221,116
364
215,25131
10,734
23,383
1,213
35,363(1,601,424)

67
9,596
10,184
2,438
22,288(1,110,316)

－
－

1,555
1,555

－
－
(1,601,424)
3,800
3,800
(1,605,224)

3,317
3,317
(1,112,077)
3,800
3,800
(1,115,877)

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(3) Statements of changes in net assets
FY 2013 (from January 1, 2013 to December 31, 2013)

Commonstock

Balance at the
beginning of the year
Changes of items during
the yearIssuance of new shares
Net loss
Net changes of items
other thanshareholders' equity
Total changes of
items during the year
Balance at the end of
the year(Unit: thousands of yen)
Shareholders' equity
Retained earnings
Capital surplus(Accumulated deficits)
Otherretainedearnings
Total
Total retained Treasury
shareholders’
Total
Legal
Retainedstock
earnings
equitycapitalcapitalearnings(accumulated
surplus (accumulated
surplusdeficits)
deficits)brought
forward6,024,610

5,994,610

5,994,610 (7,146,411) (7,146,411)

2,034,250

2,034,250

2,034,250

4,872,790

4,068,501(1,605,224)(1,605,224) (1,605,224)

2,034,250

2,034,250

2,034,250 (1,605,224) (1,605,224)－

2,463,276

8,058,860

8,028,860

8,028,860 (8,751,636) (8,751,636)(17)

7,336,067(Unit: thousands of yen)
Valuation and translation
adjustments
Total
Unrealized
valuation
holding gain
and(loss) on
translation
securities
adjustments
Balance at the
beginning of the year
Changes of items during
the yearIssuance of new shares
Net loss
Net changes of items
other thanshareholders' equity
Total changes of
items during the year
Balance at the end of
the year

(17)

－

－

Stock
acquisitionrightsTotal net
assets27,167

4,899,957

4,068,501(1,605,224)
167

167

69,594

69,761

167

167

69,5942,533,038

167

167

96,761

7,432,996- 20 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

FY 2014 (from January 1, 2014 to December 31, 2014)(Unit: thousands of yen)

Commonstock

Balance at the
beginning of the year
Changes of items during
the yearIssuance of new shares
Net loss
Net changes of items
other thanshareholders' equity
Total changes of
items during the year
Balance at the end of
the year

Shareholders' equity
Retained earnings
Capital surplus(accumulated deficits)
Otherretainedearnings
Total
Total retained Treasury
shareholders’
Total
Legal
Retainedstock
earnings
equitycapitalcapitalearnings(accumulated
surplus (accumulated
surplusdeficits)
deficits)brought
forward8,058,860

8,028,860

271,915

271,915

8,028,860 (8,751,636) (8,751,636)

271,915

7,336,067

543,830(1,115,877)(1,115,877) (1,115,877)

271,915

271,915

271,915 (1,115,877) (1,115,877)－(572,047)

8,330,775

8,300,775

8,300,775 (9,867,514) (9,867,514)(17)

6,764,019(Unit: thousands of yen)
Valuation and translation
adjustments

Unrealized
holding gain
(loss) on
securities

Balance at the
beginning of the year
Changes of items during
the yearIssuance of new shares
Net loss
Net changes of items
other thanshareholders' equity
Total changes of
items during the year
Balance at the end of
the year

(17)

167

Stock
Total
acquisition
valuationrightsandtranslation
adjustments

167

96,761

Total net
assets7,432,996

543,830(1,115,877)
(911)

(911)

103,539

102,627

(911)

(911)

103,539(469,419)

(744)

(744)

200,300

6,963,576- 21 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(4) Statements of cash flows

Net cash provided by (used in) operating activities
Loss before income taxes
Depreciation
Amortization of guarantee deposits
Share-based compensation expenses
Increase (decrease) in provision for retirement benefits
Interest income
Interest expenses
Gain on sale of marketable securities
Foreign exchange losses (gains)
Commission fee
Stock issuance cost
Gain on reversal of stock acquisition rights
Loss on retirement of noncurrent assets
Decrease (increase) in accounts receivable-trade
Decrease (increase) in inventories
Decrease (increase) in prepaid expenses
Decrease (increase) in advances paid
Decrease (increase) in consumption taxes receivable
Decrease (increase) in other current assets
Decrease (increase) in long-term prepaid expenses
Increase (decrease) in accounts payable-trade
Increase (decrease) in accounts payable-other
Increase (decrease) in other current liabilities
Other
SubtotalInterest and dividends income received
Commitment fee paid
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Investments in time deposits
Proceeds from withdrawal of time deposits
Purchase of marketable securities
Proceeds from redemption of securities
Proceeds from sale of marketable securities
Purchase of property, plant and equipment
Purchase of intangible assets
Payments for lease and guarantee deposits
Proceeds from collection of lease and guarantee deposits
Net cash provided by (used in) investing activities- 22 -FY 2013(from January 1, 2013
to December 31, 2013)(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)(1,601,424)
8,163
1,829
66,534(13)(10,034)
31(5,354)(37,733)
10,734
23,383－－148,081
39,66232,751
11,174
6,943(26,743)
18,219(329,768)
2,037(29,221)100(1,670,646)
6,729(9,600)(31)(3,800)(1,677,348)(1,112,077)
12,663
1,274
94,731(41)(24,848)
67－(195,875)
9,596
10,184(1,555)3,317(272,656)(119,532)
25,36728,021
12,5779,785
8,075
305,996(70,746)(4,647)90(1,280,230)
26,923(9,000)(67)(3,800)(1,266,174)(1,138,419)
600,000(2,399,205)
1,100,000
505,000－－－370(1,332,254)(600,000)
858,971(1,500,000)
1,700,000－(44,550)(64,046)(40,068)
4,107
314,413

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Net cash provided by (used in) financing activities
Proceeds from issuance of stock resulting from exerciseof stock acquisition rights
Proceeds from issuance of bonds with stock acquisitionrightsProceeds from issuance of stock acquisition rights
Payments for issuance of common stock
Proceeds from issuance of common stock
Repayments for lease obligations
Other payments
Net cash provided by (used in) financing activities
Effect of foreign exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year *- 23 -FY 2013(from January 1, 2013
to December 31, 2013)(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)

241,598

43,8301,000,000

500,000

5,100(14,119)2,824,862
(682)
(100)
4,056,658

10,363(9,720)
－
(682)
(90)
543,700

7,059

205,998

1,054,115
4,240,022
5,294,137(202,061)
5,294,137
5,092,075

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(5) Events and conditions with indicate there could be substantial doubt about going concern assumption
None to be reported.

(6) Significant accounting policies
1.

Valuation basis and method of marketable and investment securities
Available-for-sale securities with determinable market value
Available-for-sale securities with a determinable market value are stated at fair value with any changes in
unrealized holding gain or loss, net of applicable income taxes, included directly in shareholders’ equity.
Cost of securities sold is calculated by the moving average method.
Available-for-sale securities without determinable market value
Available-for-sale securities without determinable market value are stated at cost determined by themoving average method.

2.

Valuation basis and method of derivative transactions
Derivative financial instruments are stated at fair value.

3.

Valuation basis and method of inventories
Inventories held for the purpose of ordinary sale are measured at lower of cost determined by the weightedaverage method or net selling value.

4.

Depreciation of property, plant and equipment(1) Property, plant and equipment (excluding lease assets)
Depreciation of property, plant and equipment is computed by the straight-line method.
The useful lives of major property, plant and equipment are summarized as follows:
Buildings
3 to 18 years
Tools, furniture and fixtures
5 to 10 years(2) Intangible assets (excluding lease assets)
Amortization of intangible assets is computed by the straight-line method.
Capitalized software costs are being amortized over the period of the internal use of 5 years.
(3) Lease assets
Depreciation of lease assets is computed by the straight-line method over the lease term with no residual
value.

5.

Deferred assets
Stock issuance costs are charged to income as incurred.

6.

Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into yen at the spot exchange
rates prevailing at the balance sheet dates, and resulting gains or losses are credited or charged to income.

7.

Basis for reserves and provisions(1) Allowance for doubtful accounts
The allowance for doubtful accounts is provided at an amount determined based on the historicalexperience of bad debt with respect to ordinary receivables and an estimate of uncollectible amounts
determined by reference to specific doubtful receivables from customers which are experiencing financial
difficulties.
For FY2014, no allowance for doubtful accounts is provided due to no historical experience of bad debt
and no receivable balances that are deemed uncollectible.
(2) Provision for retirement benefits
The provision for retirement benefits is provided at an amount to be required as of the balance sheet date.
The Company applies the simplified method to calculate amounts of retirement benefit obligation andretirement benefit expenses. That is, amounts of retirement benefit obligation are the payments required forvoluntary retirement as of each fiscal year end.

8.

Cash and cash equivalents in the statements of cash flows- 24 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Cash and cash equivalents consist of cash on hand, cash in banks which can be withdrawn at any time andshort-term investments with a maturity of three months or less that can easily be converted to cash and are
subject to little risk of change in value.
9.

Other significant basis for the preparation of financial statements
Accounting for consumption tax
Transactions are recorded at amounts exclusive of consumption tax.

(This part is intentionally left blank)- 25 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(7) Notes to financial statements(Balance sheets)
1. The Company has overdraft and commitment line contracts with three banks in a business relationship to efficiently
procure working capital. The status of the bank overdraft and loan commitments based on these contracts at the end ofeach fiscal year is as follows:(Unit: thousands of yen)
FY 2013(as of December 31, 2013)

FY 2014(as of December 31, 2014)

1,350,000

1,350,000－
1,350,000－
1,350,000

Total amounts of bank overdraft limit andloan commitment line
Balance of borrowing outstanding
Unused balance(Statements of operations)* 1 Selling expense ratio is roughly 1.5% and 1.2% for FY 2013 and FY 2014, respectively, and administrative expense
ratio is roughly 98.5 % and 98.8% for FY 2013 and FY 2014, respectively.
Major expense items and amounts are as follows.
(Unit: thousands of yen)
FY 2013
FY 2014(from January 1, 2013
(from January 1, 2014
to December 31, 2013)
to December 31, 2014)
124,067
316,434811
1,052,790
6,639

Directors’ compensation
Salaries
Retirement benefit expenses
Research and development expenses
Depreciation expenses

142,686
336,071797
774,103
8,426* 2 Total amounts of research and development expenses included in general and administrative expenses(Unit: thousands of yen)
FY 2013
FY 2014(from January 1, 2013
(from January 1, 2014
to December 31, 2013)
to December 31, 2014)
1,052,790
774,103*3

Details of loss on retirement of noncurrent assets
FY 2013(from January 1, 2013
to December 31, 2013)－－

Buildings and accompanying facilities
Tools, furniture and fixtures- 26 -(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)
2,261
1,055

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Statements of changes in net assets)
FY 2013 (from January 1, 2013 to December 31, 2013)
1. Shares issued and outstanding / Treasury stock(Unit: number of shares)
At the beginning of
the fiscal year

IncreaseAt the end of the
fiscal year

Decrease

Shares issued
Common stockTotal

19,130,900

11,503,357－

30,634,257

19,130,900

11,503,357－

30,634,257

75

－

－

75

75

－

－

75

Treasury stock
Common stock
Total(Note) The increase in common stock of 11,503,357 shares consisted of: (i) an increase of 3,921,257 shares due toexercise of stock acquisition rights, (ii) an increase of 6,720,200 shares due to issuance of new shares throughthe public offering and (iii) an increase of 861,900 shares due to issuance of new shares through the third party
allotment.
2. Stock acquisition rights and treasury acquisition rights
Balance
as ofDecemberAt the end of 31, 2013
Decrease
the fiscal (thousands
yearof yen)Number of shares to be issued
Description

Type ofshares to beissuedThe 1st unsecured
bonds with convertible
bond type stockacquisition rights

Common stock－

3,311,257

3,311,257－－

The 29th warrant

Common stock－

1,326,250

530,500

795,750

3,060

－

－

－

－

－

93,701－

4,637,507

3,841,757

795,750

96,761CompanyThe
Company

Stock acquisition rights
as stock options

At thebeginning of Increase
the fiscal
year

Total

(Note) The information about type of shares to be issued and the number of shares to be issued is described in “Stock
options.”
3. Dividends
None to be reported.

- 27 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

FY 2014 (from January 1, 2014 to December 31, 2014)
1. Shares issued and outstanding / Treasury stock
At the beginning of
the fiscal year

Increase(Unit: number of shares)
At the end of the
fiscal year

Decrease

Shares issued
Common stock
Total

30,634,257

1,756,666－

32,390,923

30,634,257

1,756,666－

32,390,923

75

－

－

75

75

－

－

75

Treasury stock
Common stock
Total(Note) The increase in common stock of 1,756,666 shares was due to exercise of stock acquisition rights
2. Stock acquisition rights and treasury acquisition rights
Balance
as ofDecemberAt the end of 31, 2014
Decrease
the fiscal (thousands
yearof yen)Number of shares to be issued
Company

Description

The 2nd unsecured
bonds with convertible
bond type stockacquisition rights

Type ofshares to beissuedAt thebeginning of
the fiscal
year

Increase

Common stock－

1,666,666

1,666,666

－

－

The
Company The 29th warrant

Common stock795,750－－

795,750

3,060

The 34th warrant

Common stock－

3,030,400－

3,030,400

10,363

－

－

－

－

－

186,876795,750

4,697,066

1,666,666 3,826,150

200,300

Stock acquisition rights
as stock options
Total(Note) The information about type of shares to be issued and the number of shares to be issued is described in “Stock
options.”
3. Dividends
None to be reported.

- 28 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Statements of cash flows)* Cash and cash equivalents as of the fiscal year end are reconciled to the accounts reported in the balance sheets asfollows:(Unit: thousands of yen)

Cash and deposits
Marketable securities
Time deposits with maturities of more than three months
Debt securities with a remaining maturity in excess of
three month
Cash and cash equivalents

FY 2013(from January 1, 2013
to December 31, 2013)

FY 2014(from January 1, 2014
to December 31, 2014)

6,163,231
1,100,270(869,093)

5,692,075
899,256(600,000)(1,100,270)(899,256)

5,294,137

5,092,075(Lease transactions)
Finance lease transaction
Finance lease transactions other than those which transfer the ownership of leased property(1) Description of lease assets
Intangible assets –Software(2) Depreciation and amortization of lease assets
Depreciation and amortization of lease assets is described in “(6) Significant accounting policies, 4.
Depreciation of property, plant and equipment.”- 29 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Financial instruments)
1. Financial instruments(1) Policies for financial instruments
The Company procures the funds necessary in light of the pipeline development plan (primarily by third-party
allotment and offering by new stock issuance). Temporary surplus fund is invested in financial instruments which
are highly safe and liquid.
As a principle, the Company does not enter into derivative transactions for speculative trading purpose but uses
them within the scope prescribed in the internal rules.
(2)Types of financial instruments and related risks
Operating receivables such as accounts receivable-trade and advances paid in connection with joint development
are exposed to credit risk of customers and joint development partners. Operating receivables denominated inforeign currencies are exposed to foreign exchange fluctuation risk.
The Company intends to invest in marketable and investment securities which have relatively low risk of falling
below initial investments. However, it might carry a finite risk.
Operating payables such as accounts payable-trade and accounts payable-other are mostly due within twomonths. Operating payables denominated in foreign currencies are exposed to foreign exchange fluctuation risk.
The Company uses derivative transactions to avoid foreign exchange fluctuation risks and enters into forward
exchange contracts within the scope prescribed in the internal rules based on balances of receivables and payables
denominated in foreign currencies as well as actual volume of exports and imports transactions denominated inforeign currencies.
Lease and guarantee deposits are mostly security deposits related to rented office premises and their refunds are
subject to the credit risk of the lessor.
Lease obligations are associated with the finance lease transactions that intend to finance capital expenditures
and the longest maturity of lease term is 2 years after the current fiscal year end.
(3)Risk management for financial instruments(i) Monitoring of credit risks (the risk that customers or counterparties may default)
In accordance with the internal credit policies for managing credit risk arising from operating receivables,
the Company’s marketing department periodically monitors the credit worthiness of major customers andmonitors due dates and outstanding balances by individual customer. In addition, the Company is making
efforts to promptly identify and mitigate risks of bad debts from customers who are having financial
difficulties.
The Company enters into derivative transactions only with financial institutions which have a sound credit
profile in order to mitigate the counterparty risk.
(ii) Monitoring of market risk (the risk arising from fluctuations in foreign exchange rates, interest rates andothers)The Company deposits cash primarily with financial institutions with high credit ratings.
For marketable and investment securities, the Company intends to avoid risks of falling below initialinvestments by investing in securities with the satisfactory credit rating and investment period in accordancewith the internal investment policies.
The Company enters into forward exchange contracts in order to avoid foreign exchange fluctuation risks inconnection with receivables and payables denominated in foreign currencies.
Followed by appropriate authorization procedures prescribed in the internal rules, Finance & Accounting
division executes and monitors derivative transactions. Monthly transaction performances are reported to the
executive management committee.
(iii) Monitoring of liquidity risks (the risk that the Company may not be able to meet its obligations on scheduled
due date)
Based on the report from each department, the responsible department of the Company prepares and updates
its cash flow plans on a timely basis and ensures to maintain liquidity on hand to manage liquidity risk.
- 30 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(4) Supplementary explanation of the estimated fair value of financial instruments
The fair value of financial instruments is based on their quoted market price, if available. When there is noquoted market price available, fair value is reasonably estimated. Since various assumptions and factors arereflected in estimating the fair value, different assumptions and factors could result in different fair value. In
addition, the notional amounts of derivatives in notes to “Derivative transactions” are not necessarily indicativeof the actual market risk involved in derivative transactions.
(5) Concentration of credit risk
As of December 31, 2014, all operating receivables are from one particular major customer.
2. Fair value of financial instruments
Carrying value on the balance sheets, fair values and their differences are as follows. The financial instruments
whose fair value is extremely difficult to determine are not included. (See (Note) 2.)

FY 2013 (as of December 31, 2013)(Unit: thousands of yen)
Carrying value

Fair value

Differences(1) Cash and deposits

6,163,231

6,163,231－(2) Marketable securities

1,100,270

1,100,270－(3) Advances paid

87,862

87,862－(4) Consumption taxes receivable

32,55232,552－

7,383,915

7,383,915

－

682

683

0

(2) Accounts payable-other

207,134

207,134－(3) Income taxes payable

22,55422,554－(4) Lease obligations (non-current)

1,334

1,334

0

Liabilities, total

231,706

231,7070

Derivative transactions, total (*)

52,43852,438－Assets, total(1) Lease obligations (current)(*) Net assets and liabilities arising from derivative transactions are presented on a net basis.

- 31 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

FY 2014 (as of December 31, 2014)(Unit: thousands of yen)
Carrying value

Fair value

Differences

5,692,075

5,692,075－(2) Accounts receivable-trade272,656

272,656－(3) Marketable securities

899,256

899,256－(4) Advances paid

59,84059,840－(5) Consumption taxes receivable

19,974

19,974－

6,943,803

6,943,803－

305,996

305,996

－

692

693

1

(3) Accounts payable-other142,884

142,884－(4) Income taxes payable

21,254

21,254

－

642

642

0

Liabilities, total

471,470

471,472

1

Derivative transactions, total (*)

33,23533,235－(1) Cash and deposits

Assets, total(1) Accounts payable-trade(2) Lease obligations (current)(5) Lease obligations (non-current)(*) Net assets and liabilities arising from derivative transactions are presented on a net basis.
(Note)
1. Fair value measurement of financial instruments and other matters related to securities and derivative transactions
Assets(1) Cash and deposits, (2) Accounts receivable-trade, (4) Advances paid and (5) Consumption taxes receivable
The carrying value is deemed as the fair value since these are scheduled to be settled in a short period oftime.
(3) Marketable securities
The fair value of debt securities is based on the quoted price obtained from financial institutions. Seenotes to “Marketable and investment securities” for notes pertaining to securities by holding purpose.
Liabilities(1) Accounts payable-trade, (3) Accounts payable-other and (4) Income taxes payable
The carrying value is deemed as the fair value since these are scheduled to be settled in a short period oftime.
(2) Lease obligations (current) and (5) Lease obligations (non-current)
The fair value of lease obligations is determined at present value calculated by discounting total amounts
of principle and interests at a presumable rate used for similar new lease transactions.
Derivative transactions
See notes to “Derivative transactions.”- 32 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

2. Financial instruments whose fair value is extremely difficult to determine(Unit: thousands of yen)
FY 2013(as of December 31, 2013)
Lease and guarantee deposits

FY 2014(as of December 31, 2014)
47,28927,135

Lease and guarantee deposits are not included in above tables since no market quote is available and their fair value
is extremely difficult to determine.
3. The redemption schedule for monetary assets and securities with maturities
FY 2013 (as of December 31, 2013)(Unit: thousands of yen)
Due after one
Due after fiveDue in one year
Due after ten
year through five years through ten
or less
years
years
years
6,163,194－－－

499,940

－

－

－

Other

600,330－－－

Advances paid

87,862－－－

7,351,326－－－

Deposits
Available-for-securities with maturities
Debt securities
Corporate bond

Total
FY 2014 (as of December 31, 2014)(Unit: thousands of yen)
Due after one
Due after fiveDue after ten
Due in one year
year through five years through ten
years
or less
years
years
－

－

－

500,000

－

－

－

Other

400,000－－－

Advances paid

59,840－－－6,924,561－－－

Deposits

5,692,064

Accounts receivable-trade272,656

Available-for-securities with maturities
Debt securities
Corporate bond

Total

- 33 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

4. Maturities of lease obligations after the fiscal year end
FY 2013 (as of December 31, 2013)

Due in one
year or lessLease obligations(current)
Lease obligations(non-current)
Total

Due after one
year throughtwo years(Unit: thousands of yen)
Due after two Due after three Due after four
Due after five
years through years through years throughyears
three years
four years
five years

682

－

－

－

－

－

－

692

642

－

－

－

682

692

642

－

－

－

FY 2014 (as of December 31, 2014)

Due in one
year or lessLease obligations(current)
Lease obligations(non-current)
Total

Due after one
year throughtwo years(Unit: thousands of yen)
Due after two Due after three Due after four
Due after five
years through years through years throughyears
three years
four years
five years

692

－

－

－

－

－

－

642

－

－

－

－

692

642

－

－

－

－

- 34 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(Marketable and investment securities)
1. Available-for-sale securities
FY 2013 (as of December 31, 2013)
Type

Carrying value(Unit: thousands of yen)
Acquisition cost
Difference

－

－

－

(a) Government andmunicipal bonds(b) Corporate bonds

－

－

－

－

－

－

(c) Other－－－

600,330

600,000

330

600,330

600,000

330(1) Equity securities

－

－

－

(2) Debt securities(a) Government andmunicipal bonds(b) Corporate bonds

－

－

－

499,940

500,000

(60)

－

－

－

－

－

－

499,940

500,000(60)(1) Equity securities(2) Debt securities

Carrying value exceeds theacquisition cost(3) Other
Total

Carrying value does notexceed the acquisition cost(c) Other(3) Other
Total
FY 2014 (as of December 31, 2014)
Type

Carrying value
－

－

－

－

－

－

(b) Corporate bonds

－

－

－

(c) Other

－

－

－

－

－

－

－

－

－

－

－

－

(a) Government andmunicipal bonds

－

－

－

(b) Corporate bonds

499,260

500,000

(740)

－

－

－

399,996

400,000(4)

899,256

900,000(744)(1) Equity securities

Carrying value exceeds theacquisition cost

(Unit: thousands of yen)
Acquisition cost
Difference(2) Debt securities(a) Government andmunicipal bonds(3) Other
Total(1) Equity securities(2) Debt securities
Carrying value does notexceed the acquisition cost(c) Other(3) OtherTotal- 35 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

2. Available-for-sale securities soldFY 2013 (from January 1, 2013 to December 31, 2013)(Unit: thousands of yen)Type

Proceeds

Realized gains

Realized losses

－

－

－

(a) Government andmunicipal bonds

－

－

－

(b) Corporate bonds

505,000

5,354

－

－

－

－

－

－

－

505,000

5,354－(1) Equity securities(2) Debt securities(c) Other(3) Other
Total

FY 2014 (from January 1, 2014 to December 31, 2014)
None to be reported.

(Derivative transactions)
1. Derivative transactions to which hedge accounting is not applied
Currency-related transaction
FY 2013 (as of December 31, 2013)(Unit: thousands of yen)Classification

Type

Portion due
after
one year
Notional amountincludedhereinFair value

Unrealized gain

Forward exchange contract
OTC transactions

Buy
U.S. dollar

81,004

－

3,260

3,260

Euro

635,710－

49,17749,177

716,714－52,43852,438

Total(Note)

Fair value measurement
The fair value is measured based on the quoted prices obtained from financial institutions with business
relationship.

FY 2014 (as of December 31, 2014)(Unit: thousands of yen)Classification

Type

Portion due
one year
Notional amount after
includedhereinFair value

Unrealized gain

Forward exchange contract
OTC transactions

Buy
－

－

－

－

824,522－

33,23533,235824,522－

33,23533,235

U.S. dollar
Euro
Total

- 36 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Note) Fair value measurement
The fair value is measured based on the quoted prices obtained from financial institutions with business relationship.
2. Derivative transactions to which hedge accounting is applied
None to be reported.

(Retirement benefits)
FY 2013 (from January 1, 2013 to December 31, 2013)
1. Outline of retirement benefit plans
The Company has adopted a defined contribution pension plan. A lump-sum payment plan (non-contributory plan) is
applied for certain employees based on the internal rules of retirement benefits.
The simplified method is applied to calculate amounts of retirement benefit obligation and retirement benefit
expenses.
2. Retirement benefit obligation(Unit: thousands of yen)
FY 2013(as of December 31, 2013)(1) Retirement benefit obligation

1,675(2) Provision for retirement benefits

1,675(Note)The simplified method is applied to calculate amounts of retirement benefit obligation. That is, the amounts
shown as retirement benefit obligation are the payments required for voluntary retirement as of each fiscal
year end.

3. Retirement benefit expenses(Unit: thousands of yen)
FY 2013(from January 1, 2013
to December 31, 2013)
Retirement benefit expenses

2,091(1) Service costs

224(2) Contribution made for defined contribution pension plan

1,867

4. Assumption used in accounting for retirement benefit obligation
Actuarial assumption is omitted since the Company applies the simplified method.

FY 2014 (from January 1, 2014 to December 31, 2014)
1. Outline of retirement benefit plans
The Company has adopted a defined contribution pension plan. A lump-sum payment plan (non-contributory plan) is
applied for certain employees based on the internal rules of retirement benefits.
The simplified method is applied to calculate amounts of retirement benefit obligation and retirement benefit
expenses.

- 37 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

2. Retirement benefit plan under simplified method(1) The reconciliation between retirement benefit obligation at the beginning and the end of the fiscal year is as follows.
(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)
Retirement benefit obligation at the beginning of the fiscal year

1,675

Service costs

196

Contribution made for defined contribution pension plan

(237)

Retirement benefit obligation at the end of the fiscal year

1,634

(2) The reconciliation between retirement benefit obligation or provision for retirement benefits and net defined benefit
liability on the balance sheet is as follows.
(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)
Unfunded retirement benefit obligation

1,634

Net defined benefit liability on the balance sheet

1,634(Unit: thousands of yen)
FY 2014(from January 1, 2014
to December 31, 2014)

Provision for retirement benefits

1,634

Net defined benefit liability on the balance sheet

1,634(3) Retirement benefit expenses
Retirement benefit expenses calculated under simplified method

196 thousand yen

3. Defined contribution pension plan
The amount of the Company’s contribution to the defined contribution pension plan was 1,733 thousand yen.

- 38 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Stock options)
1. The account name and the amount of stock options charged as expenses(Unit: thousands of yen)

Selling, general andadministrative expenses

FY 2013(from January 1, 2013
to December 31, 2013)

FY 2014(from January 1, 2014
to December 31, 2014)

66,534

94,731

2. The account name and the amount of income recognized for vested shares that expired unexercised(Unit: thousands of yen)

Gain on reversal of stockacquisition rights

FY 2013(from January 1, 2013
to December 31, 2013)

FY 2014(from January 1, 2014
to December 31, 2014)

－

1,555

3. Description of stock options/ Changes in the size of stock options(1) Description of stock options

Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

The 1st Series
Directors of the Company
3
Auditor & supervisory board member of
the Company
1
Employees of the Company 6External collaborators
12
Total
22

The 5th Series
Directors of the Company
1
Employees of the Company 16External collaborators
1
Total
18

Common stock 390,000 shares

Common stock 117,000 shares

June 20, 2005
1. Those who received the allotment of thestock acquisition rights (the “Person
Granted”) must be in a status of theCompany’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period is not fixed.
From June 21, 2007 to June 20, 2015

January 31, 2006

- 39 -

Same as on the left

Same as on the left
From February 1, 2008 to September 1,
2015

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The 6th Series

The 7th Series
Directors of the Company
6
Auditors & supervisory board members of
Auditors & supervisory board members of
Individuals covered by the the Company
1
the Company
2plan and number of persons Employees of the Company
3
Employees of the Company
16
External collaborators
6
grantedExternal collaborators
9
Total
10
Total
33
Class and number of shares
to be issued upon the exercise Common stock 45,000 shares
Common stock 200,000 sharesof the stock option
Grant date
April 18, 2006
July 1, 2006
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or the
Vesting condition
Same as on the left
compulsory retirement, if otherwise
the board of directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period
Vesting period is not fixed.
Same as on the left
Exercise period
From April 19, 2008 to March 30, 2016
From July 2, 2008 to March 30, 2016
The 8th Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

Employees of the Company
External collaborators
Total
Common stock 52,000 shares

6
511

The 9th Series
Directors of the Company
3
Auditors & supervisory board membersof the Company
2
Total
5
Common stock 66,000 shares

December 4, 2006
February 1, 2007
1. The Person Granted must be in astatus of the Company’s director,
auditor & supervisory board
member, advisor or employee at thetime of exercise. However, this is
not necessarily the case if the
Person Granted retires due to theSame as on the left
expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, orif the Person Granted is an external
collaborator.
2. The Company’s stock must be listed
on a stock exchange.
Vesting period is not fixed.
Same as on the left
From December 2, 2008 to March 30, 2016 From January 24, 2009 to January 23, 2017

- 40 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The 11th Series
Individuals covered by the Employees of the Company
plan and number of persons External collaborators
Total
granted6
3
9Class and number of shares
to be issued upon the exercise Common stock 34,000 sharesof the stock option
Grant date
March 15, 2007
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or the
Vesting condition
compulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period
Vesting period is not fixed.
Exercise period
From March 3, 2009 to March 2, 2017
The 13th Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

Employees of the Company
External collaborators
Total
Common stock 170,000 shares

33
12
45

The 12th Series
Directors of the Company
5
Auditor & supervisory board member of
the Company
1
Total
6
Common stock 82,000 shares
August 29, 2007

Same as on the left

Same as on the left
From August 29, 2009 to August 28, 2017
The 14th Series
Directors of the Company
5
Auditor & supervisory board memberof the Company
1
Total
6
Common stock 207,000 shares

August 29, 2007
October 1, 2008
1. The Person Granted must be in astatus of the Company’s director,
auditor & supervisory board
member, advisor or employee atthe time of exercise. However, thisis not necessarily the case if the
Person Granted retires due to theSame as on the left
expiry of her/his term or thecompulsory retirement, if
otherwise the Board of Directors
approves, or if the Person Granted
is an external collaborator.
2. The Company’s stock must be listed
on a stock exchange.
Vesting period is not fixed.
Same as on the left
From August 29, 2009 to August 28, 2017 From October 1, 2010 to September 30,
2018- 41 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The 16th Series
Individuals covered by theplan and number of persons External collaborators
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

Common stock

14

85,000 shares

October 1, 2008
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period is not fixed.
From October 1, 2010 to September 30,
2018
The 19th Series

Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

External collaborators

Common stock2

12,500 shares

March 18, 2009
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period is not fixed.
From March 19, 2011 to March 18, 2019- 42 -

The 17th Series
Directors of the Company
3
Auditor & supervisory board member of
the Company
1
Total
4
Common stock 72,000 shares
March 18, 2009Same as on the left

Same as on the left
From March 19, 2011 to March 18, 2019

The 20th Series
Directors of the Company
6
Auditor & supervisory board member of
the Company
1
Total
7
Common stock 361,000 shares
March 31, 2010Same as on the left

Same as on the left
From April 1, 2012 to March 31, 2020

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The 21st Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

Employees of the Company

Common stock

The 22nd Series
50

326,500 shares

March 31, 2010
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period is not fixed.
From April 1, 2012 to March 31, 2020

(This part is intentionally left blank)- 43 -

External collaborators

13

Common stock 153,000 shares
March 31, 2010Same as on the left

Same as on the left
From April 1, 2012 to March 31, 2020

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The 23rd Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

Employees of the Company

Common stock

The 24th Series
932,000 shares

October 15, 2010
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period is not fixed.
From October 15, 2012 to October 14,
2020

Vesting condition

Vesting period
Exercise period

Employees of the Company

Common stock

March 31, 2011

Same as on the left

Same as on the left
From March 31, 2013 to March 30, 2021

The 26th Series
59

195,000 shares

March 31, 2011
1. The Person Granted must be in a statusof the Company’s director, auditor &supervisory board member, advisor or
employee at the time of exercise.
However, this is not necessarily thecase if the Person Granted retires dueto the expiry of her/his term or thecompulsory retirement, if otherwise
the Board of Directors approves, or if
the Person Granted is an external
collaborator.
2. The Company’s stock must be listed ona stock exchange.
Vesting period is not fixed.
From March 31, 2013 to March 30, 2021

- 44 -

5

Common stock 192,000 shares

The 25th Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant dateDirectors of the Company

Directors of the Company

4

Common stock 362,500 shares
May 2, 2012
No specific conditions are prescribed in
the allotment agreement of stockacquisition rights entered between the
Company and the Person Granted, except
for certain vesting conditions stipulated in
the exercise condition. The exercise
conditions are described in *(1) to (6).

The period that fulfills the requirement of
the exercise conditions *(2) and (3).
From April 18, 2014 to April 17, 2022

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

The 27th Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Vesting condition

Vesting period
Exercise period

The 28th Series

Employees of the Company

Common stock70

430,700 shares

May 2, 2012
No specific conditions are prescribed in
the allotment agreement of stockacquisition rights entered between the
Company and the Person Granted, except
for certain vesting conditions stipulated in
the exercise condition. The exercise
conditions are described in *(1) to (6).
The period that fulfills the requirement of
the exercise conditions *(2) and (3).
From April 18, 2014 to April 17, 2022

Vesting condition

Vesting period
Exercise period

Directors of the Company

Common stock

5

116,000 shares

Vesting condition

Vesting period
Exercise period

Common stock

Same as on the left

Same as on the left
From September 14, 2014 to September
13, 2022

Employees of the Company

68

Common stock 124,000 shares

May 29, 2013
No specific conditions are prescribed in
the allotment agreement of stockacquisition rights entered between the
Company and the Person Granted, except
for certain vesting conditions stipulated in
the exercise condition. The exercise
conditions are described in *(1) to (6).
The period that fulfills the requirement of
the exercise conditions *(2) and (3).
From May 15, 2015 to May 14, 2023

Directors of the Company

September 28, 2012

The 31st Series

The 32nd Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date5

Common stock 16,500 shares

The 30th Series
Individuals covered by theplan and number of persons
grantedClass and number of shares
to be issued upon theexercise of the stock option
Grant date

Employees of the Company

May 29, 2013Same as on the left

Same as on the left
From May 15, 2015 to May 14, 2023
The 33rd Series

5

252,000 shares

April 30, 2014
No specific conditions are prescribed in
the allotment agreement of stockacquisition rights entered between the
Company and the Person Granted, except
for certain vesting conditions stipulated in
the exercise condition. The exercise
conditions are described in *(1) to (4), (7)and (8).
The period that fulfills the requirement of
the exercise condition *(3).
From April 16, 2017 to April 15, 2024
- 45 -

Employees of the Company

68

Common stock 333,000 shares
April 30, 2014

Same as on the left

Same as on the left
From April 16, 2017 to April 15, 2024

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014*(1) Fraction less than one unit of a stock acquisition rights shall be un-exercisable.
(2) Those who received the allotment of the stock acquisition rights (the “Person Granted”) may exercise all or part of the rights inaccordance with the following classifications:＜The 26th Series and the 27th Series stock option＞(a) Those who were granted the s stock acquisition rights may exercise the rights within the limit of one-fourth (1/4) from
April 18, 2014 to April 17, 2015.
(b) Those who were granted the stock acquisition rights may exercise the rights within the limit of one-half (1/2) from April
18, 2015 to April 17, 2016.
(c) Those who were granted the stock acquisition rights may exercise the rights within the limit of three-fourths (3/4) from
April 18, 2016 to April 17, 2017(d) Those who were granted the stock acquisition rights may exercise all the rights from April 18, 2017 to April 17, 2022
＜The 28th Series stock option＞(a) Those who were granted the stock acquisition rights may exercise the rights within the limit of one-fourth (1/4) from
September 14, 2014 to September 13, 2015.
(b) Those who were granted the stock acquisition rights may exercise the rights within the limit of one-half (1/2) from
September 14, 2015 to September 13, 2016.
(c) Those who were granted the stock acquisition rights may exercise the rights within the limit of three-fourths (3/4) from
September 14, 2016 to September 13, 2017.
(d) Those who were granted the stock acquisition rights may exercise all the rights from September 14, 2017 to September
13, 2022.
＜The 30th and the 31st Series stock option＞(a) Those who were granted the stock acquisition rights may exercise the rights within the limit of one-fourth (1/4) from May
15, 2015 to May 14, 2016.
(b) Those who were granted the stock acquisition rights may exercise the rights within the limit of one-half (1/2) from May
15, 2016 to May 14, 2017.
(c) Those who were granted the stock acquisition rights may exercise the rights within the limit of three-fourths (3/4) fromMay 15, 2017 to May 14, 2018.
(d) Those who were granted the stock acquisition rights may exercise all the rights from May 15, 2018 to May 14, 2023.
(3) The Person Granted shall exercise the rights starting from the date of resolution by the below-mentioned stockholders’ meetingor the Board of Directors’ meeting until one day before the effective date of the Organizational Restructuring as followed,
regardless the conditions of exercise period originally stipulated, when the Organizational Restructuring are approved by the
resolution of the Company’s stockholders’ meeting (including the case where resolution of a stockholders’ meeting is deemed
to exist pursuant to the provision of Article 319 of the Companies Act) or the Board of Directors’ meeting (limited to the casewhere no stockholders’ meeting is required for the said Organizational Restructuring) before the exercise period (“Exercise
Period”) of the stock acquisition rights comes into effect: an absorption-type merger or an incorporation-type merger where
the Company becomes a dissolving company and an absorption-type split or an incorporation-type company split where theCompany becomes a split company or a share exchange or a share transfer where the Company becomes a wholly-owned
subsidiary (collectively, “Organizational Restructuring” as mentioned above).
(4) The stock acquisition rights shall not be offered for pledge or disposed of in any other way.
(5) The Person Granted must be in a status of the director, auditor & supervisory board member or employee of the Company or its
affiliates at the time of exercise. However, this is not necessarily the cases where;(a) The Person Granted is the director or auditor & supervisory board member of the Company or its affiliates and retires dueto the expiry of her/his term.
(b) The Person Granted is the employee of the Company or its affiliates and retires due to the compulsory retirement.
(c) The Person Granted is the director, auditor & supervisory board member or employee of the Company or its affiliates andthe Board of Directors resolves that he/she resigns or retires with honorable recognition.

- 46 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014(6) In the event where;(a) The Person Granted died before the exercise period comes into effect, the inheritor shall exercise the rights of up to one-half(1/2) within six months from the date of inherited, or(b) The Person Granted died during the exercise period, the inheritor shall exercise all the rights within six months from thedate of inherited.
However, in the event that the inheritor died, the rights shall be discarded and shall not be exercised by his/her inheritor.
(7) The Person Granted must be in a status of the director, auditor & supervisory board member or employee of the Company or its
affiliates at the time of exercise. However, this is not necessarily the cases where;(a) The Person Granted is the director of the Company or its affiliates and retires due to the expiry of her/his term.
(b) The Person Granted is the employee of the Company or its affiliates and retires due to the compulsory retirement.
(c) The Person Granted is the director or employee of the Company or its affiliates and the Board of Directors resolves thathe/she resigns or retires with honorable recognition.
(8) In the event where the Person Granted died, the inheritor shall be able to succeed and exercise the stock acquisition rights asprescribed in the allotment agreement of stock acquisition rights entered between the Company and the Person Granted.
However, in the event that the inheritor dies, the rights shall be discarded and shall not be exercised by his/her inheritor.

(This part is intentionally left blank)- 47 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(2) Change in the size of stock option
The number of shares which may arise upon exercise of stock option as of December 31, 2014 is as follows.
(a) Number of stock options(Unit: number of shares)
The 1st Series
The 5th Series
The 6th Series
The 7th Series
Grant dateJune 20, 2005
January 31, 2006
April 18, 2006
July 1, 2006
Non-vested shares:
At the beginning of the year－－－－
Granted－－－－Expired－－－－
Vested－－－－At the end of the year－－－－
Vested shares:
At the beginning of the year
292,000
2,000
2,000
61,000
Vested－－－－Exercised90,000－－－
Expired－－－－At the end of the year
202,000
2,000
2,000
61,000Grant dateNon-vested shares:
At the beginning of the year
GrantedExpired
VestedAt the end of the year
Vested shares:
At the beginning of the year
VestedExercised
ExpiredAt the end of the year

Grant dateNon-vested shares:
At the beginning of the year
GrantedExpired
VestedAt the end of the year
Vested shares:
At the beginning of the year
VestedExercised
ExpiredAt the end of the year

(Unit: number of shares)
The 11th Series
The 12th Series
March 15, 2007
August 29, 2007

The 8th Series
December 4, 2006

The 9th Series
February 1, 2007

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

1,000
－
－
－
1,000

3,000
－
－
－
3,000

7,000
－
－
－
7,000

23,000－－－23,000

The 13th Series
August 29, 2007

The 14th Series
October 1, 2008

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

61,000－－－61,00028,000－－－28,00070,000－－－70,000

4,000
－
－
－
4,000

- 48 -(Unit: number of shares)
The 17th Series
The 16th Series
March 18, 2009
October 1, 2008

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Grant dateNon-vested shares:
At the beginning of the year
GrantedExpired
VestedAt the end of the year
Vested shares:
At the beginning of the year
VestedExercised
ExpiredAt the end of the year

Grant dateNon-vested shares:
At the beginning of the year
GrantedExpired
VestedAt the end of the year
Vested shares:
At the beginning of the year
VestedExercised
ExpiredAt the end of the year

(Unit: number of shares)
The 21st Series
The 22nd Series
March 31, 2010
March 31, 2010

The 19th Series
March 18, 2009

The 20th Series
March 31, 2010

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

2,500
－
－
－
2,500

344,500－－－
344,500

234,500－－
14,000220,500

153,000－－－
153,000(Unit: number of shares)
The 25th Series
The 26th Series
March 31, 2011
May 2, 2012

The 23rd Series
October 15, 2010

The 24th Series
March 31, 2011

－
－
－
－
－

－
－
－
－
－

－
－
－
－
－

362,500－－
120,625
241,875

26,000－－6,000
20,000

192,000－－－
192,000

163,500－－
20,500143,000－
120,625－－
120,625

The 27th Series
May 2, 2012

The 28th Series
September 28, 2012

The 30th Series
May 29, 2013

368,300－
42,200107,550
218,550

16,000
－
3,500
3,500
9,000

116,000－－
21,00095,000115,600－
20,400－95,200－107,550－
4,400
103,150

－
3,500
－
500
3,000

－
21,000－－21,000－－－－－(Unit: number of shares)
Grant dateNon-vested shares:
At the beginning of the year
GrantedExpired
VestedAt the end of the year
Vested shares:
At the beginning of the year
VestedExercised
ExpiredAt the end of the year

- 49 -The 31st Series
May 29, 2013

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Grant dateNon-vested shares:
At the beginning of the year
GrantedExpired
VestedAt the end of the year
Vested shares:
At the beginning of the year
VestedExercised
ExpiredAt the end of the year

(Unit: number of shares)
The 32nd Series
The 33rd Series
April 30, 2014
April 30, 2014－
252,000－－
252,000－
330,000
55,900－274,100

－
－
－
－
－

－
－
－
－
－

(b) Per share prices
Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

The 1st Series
June 20, 2005
487

The 5th Series
January 31, 2006
974

The 6th Series
April 18, 2006
974

The 7th Series
July 1, 2006
1,461

292

－

－

－

－

－

－

0

The 8th Series
December 4, 2006
1,461

The 9th Series
February 1, 2007
1,461

The 11th Series
March 15, 2007
1,461

The 12th Series
August 29, 2007
1,461

－

－

－

－

0

0

0

0

The 13th Series
August 29, 2007
1,461

The 14th Series
October 1, 2008
1,169

The 16th Series
October 1, 2008
1,169

The 17th Series
March 18, 2009
1,169

－

－

－

－

0

0

0

0

The 19th Series
March 18, 2009
1,169

The 20th Series
March 31, 2010
585

The 21st Series
March 31, 2010
585

The 22nd Series
March 31, 2010
585

－

－

－

－

0

0

0

0

- 50 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

Grant date
Exercise price (yen) (Note 1)
Average stock price at thetime of exercise (yen)Fair value price at grant date(yen)

The 23rd Series
October 15, 2010
585

The 24th Series
March 31, 2011
682

The 25th Series
March 31, 2011
682

The 26th Series
May 2, 2012
555

－

－

－

－
(a) 179(b) 187000

The 27th Series
May 2, 2012
555

The 28th Series
September 28, 2012
555

The 30th Series
May 29, 2013
799

The 31st Series
May 29, 2013
799

－

－

－

－

(a) 179(b) 187(c) 195(d) 202(a) 203(b) 208(c) 213(d) 217(a) 586(b) 602(c) 617(d) 631(a) 586(b) 602(c) 617(d) 631

The 32nd Series
April 30, 2014(c) 195(d) 202

The 33rd Series
April 30, 2014
1

1

－

－

229

229

Note: 1. The Company increased its capital through the public offering on December 4, 2013 and through the third party allotment on
December 25, 2013, at the per share amount less than the exercise price of options. Thus, the exercise amounts above arestated after price adjustments clause.
2. (a), (b), (c) and (d) above correspond to each of (a), (b), (c) and (d) of the exercise periods as previously described in 3
(1)*(2).

4. Method for estimating the fair value of stock options
The fair value of stock options that were granted during this fiscal year is estimated based on the following method.
(1) Estimate technique used: Black-Scholes option pricing model(2) Major assumptions and estimate method
The 32nd Series
The 33rd Series
88.20%
88.20%
Volatility of stock price (Note 1)
Estimated remaining outstanding
3.0 years
3.0 years
period (Note 2)
Estimated dividend (Note 3)
0 yen per share
0 yen per share
Risk free interest rate (Note 4)
0.106%
0.106%
Note: 1. The volatility was calculated based on the actual stock prices from October 20, 2011 to April 30, 2014.
2. The period from the allotment date to the start date of the exercise period is used.
3. The Company estimates dividends to be zero since no dividends have been paid in the past.
4. It represents yields of Japanese government bonds corresponding to estimated remaining outstanding period.

5. Estimation of the number of stock options vested
The number of expired shares is estimated based on the historical turnover ratio.
- 51 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Deferred tax accounting)
1. Significant components of deferred tax assets and liabilities(Unit: thousands of yen)
FY2013(as of December 31, 2013)
Deferred tax assets:
Excess depreciation for lump-sum depreciable
assetsExcess depreciation for depreciable assets
Excess amortization for deferred assets
Research and development expenses
Account payable-other
Provision for retirement benefits
Enterprise tax payable
Asset retirement obligation
Share-based compensation expense
Loss carried forward
Subtotal
Valuation allowance
Total deferred tax assets
Deferred tax liabilities
Valuation difference on available-for-salesecurities
Total deferred tax liabilities
Net deferred tax liabilities

FY2014(as of December 31, 2014)

1,920

2,339

501
145,726
607,327
14,536
596
7,850
3,736
16,8292,012,894
2,811,921(2,811,921)－－
76,203
835,059
8,342
582
6,897
786
36,584
1,739,209
2,706,006(2,706,006)
－

102

－

102
102

－
－

2. The reconciliation between the effective tax rates reflected in the financial statements and the statutory tax rate isomitted since the Company reported loss before income taxes for the years ended December 31, 2013 and 2014.

(Equity in earnings)
None to be reported.

(Asset retirement obligations)
The Company has future restoration obligations related to leasehold contracts of office premises.
Carrying the balance of lease and guarantee deposits as an asset, the Company reasonably estimates non-recoverable
amounts of lease and guarantee deposits under lease contracts and records the amount attributable to the respective
fiscal year as expenses, instead of accounting for asset retirement obligations by recognizing a liability and an
associated asset.

(Investment and rental property)
None to be reported.

- 52 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Segment information)【Segment information】
FY 2013 (from January 1, 2013 to December 31, 2013) and FY 2014 (from January 1, 2014 to December 31, 2014)
Segment information is omitted since the Company operates a single segment of pharmaceutical businesses
including research and development of pharmaceutical drugs as well as manufacturing and marketing and otherrelated activities.

【Related information】
FY 2013 (from January 1, 2013 to December 31, 2013)
1. Information by product and service
Information by product and service is omitted since external sales of a single service category account for morethan 90% of total net sales stated in the statement of income.
2. Information about geographical area
(1) Net sales
Net sales information about geographical area is omitted since external sales to Japanese customers account for
more than 90% of total net sales stated in the statement of income.
(2) Property, plant and equipment
All property, plant and equipment are located in Japan.
3. Information by major customer(Unit: thousands of yen)
Name of customer

Net sales

Name of related segment

Eisai Co., Ltd.

1,485,877

Pharmaceutical businesses including research and developmentof pharmaceutical drugs as well as manufacturing marketingand other related activities.

FY 2014 (from January 1, 2014 to December 31, 2014)
1. Information by product and service
Information by product and service is omitted since external sales of a single service category account for morethan 90% of total net sales stated in the statement of income.
2. Information about geographical area
(1) Net sales
Net sales information about geographical area is omitted since external sales to Japanese customers account for
more than 90% of total net sales stated in the statement of income.
(2) Property, plant and equipment
All property, plant and equipment are located in Japan.
3. Information by major customer(Unit: thousands of yen)
Name of customer

Net sales

Name of related segment

Eisai Co., Ltd.

1,908,388

Pharmaceutical businesses including research and developmentof pharmaceutical drugs as well as manufacturing marketingand other related activities.

- 53 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

【Information about impairment loss on long-lived assets by reportable segment】
FY 2013 (from January 1, 2013 to December 31, 2013) and FY 2014 (from January 1, 2014 to December 31, 2014)
None to be reported.
【Information about the amortization and unamortized balance of goodwill by reportable segment】
FY 2013 (from January 1, 2013 to December 31, 2013) and FY 2014 (from January 1, 2014 to December 31, 2014)
None to be reported.
【Information about the gain recognized on negative goodwill by reportable segment】
FY 2013 (from January 1, 2013 to December 31, 2013) and FY 2014 (from January 1, 2014 to December 31, 2014)
None to be reported.

(Related parties information)
Transactions with related parties
Director(s) and major individual shareholder(s) of the Company
FY 2013 (from January 1, 2013 to December 31, 2013)
None to be reported.
FY 2014 (from January 1, 2014 to December 31, 2014)
Type

Name

Address

Capitalcontribution

Occupation(in thousands ofyen)

Director

Fuminori
Yoshida－－Representative
Director,
President andCEO of theCompany

Ownership
Transactionof voting Relationshipdetails
rights (%)

Direct9.63%－

Exerciseof stock
options

Amounts(in thousands ofyen)

43,830(90,000
shares)Balance

Account
name(in thousands of
yen)

－

－

(Note) The amount presents for the stock acquisition rights exercised during FY 2014, of which the stockacquisition rights granted based on the resolution of the Company’s extraordinary stockholders’ meeting
held on June 20, 2005.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Per share information)
FY 2013(from January 1, 2013
to December 31, 2013)
Net assets per share
Net loss per share

FY 2014(from January 1, 2014
to December 31, 2014)
239.48 yen(69.29) yen

Net assets per share
Net loss per share

208.80 yen(36.26) yen(Note) 1. While having potential dilutive stocks, diluted net income per share is not provided since the Company
reported net loss per share.
2. The basis for calculating net loss per share is as follows:
FY 2013(from January 1, 2013
to December 31, 2013)
Net loss (thousand yen)
(1,605,224)
Amount not attributable to the shareholders of－common stock (thousand yen)
Net loss attributable to the shareholders of common(1,605,224)
stock (thousand yen)
Average number of shares outstanding during the23,167,804
year (shares)
Description of potential dilutive stocks not included 23 types of stock acquisitionrights (23,564 units) inin the earning-per-share calculation due to antiaccordance with thedilutive
Commercial Code of 1890
Article 280 (20) and (21), andthe Companies Act Article 236,
238, and 239.

FY 2014(from January 1, 2014
to December 31, 2014)(1,115,877)－(1,115,877)
30,776,721
26 types of stock acquisitionrights (54,803 units) inaccordance with theCommercial Code of 1890
Article 280 (20) and (21), andthe Companies Act Article 236,
238, and 239.

3. The basis for calculating net assets per share is as follows:
FY 2013(from January 1, 2013
to December 31, 2013)
Net assets (thousand yen)Amount to be deducted from net assets[Of which, stock acquisition rights herein]
Net assets attributable to the shareholders ofcommon stock (thousand yen)
Number of shares used in the calculation of net
assets per share (shares)- 55 -FY 2014(from January 1, 2014
to December 31, 2014)

7,432,996
96,761[96,761]

6,963,576
200,300[200,300]

7,336,234

6,763,275

30,634,182

32,390,848

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japanese GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2014

(Significant subsequent events)
None to be reported.

5. Other(1) Changes in Officers
None to be reported.
(2) Other
None to be reported.

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