English translation
SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Summary of Financial Statements for the Fiscal Year Ended December 31, 2011
[Japan GAAP] (Non-consolidated)
Company Name
Securities code

SymBio Pharmaceuticals Limited
4582
Representative Director, President and Chief
Executive Officer
Director, Chief Financial Officer

Representative

Inquiries
Ordinary Annual General
March 29, 2012
Meeting of Shareholders
Scheduled date of securities
March 30, 2012
report submission
Supplementary materials for the
Yes Nofinancial statements
Presentation to explain for thefinancial statements

Yes

February 14, 2012
Listing: Osaka Securities Exchange
URL http://www.symbiopharma.com/
Fuminori Yoshida
Hiroki Maekawa
Date of dividend
payment (plan)

TEL 03(5472) 1125―

No (For securities analysts and institutional investors)

Millions of Yen – rounded down, unless otherwise stated
1. Business Results for Fiscal 2011 (January 1, 2011 to December 31, 2011)(Percentage figures represent changes from the previous fiscal(1) Business results
year)
Net sales
Operating profit
Ordinary profit
Net profit
Millions of Yen% Millions of Yen% Millions of Yen% Millions of Yen%
Fiscal 2011
1,882
29.8
-2,066-2,095-2,104
Fiscal 2010
1,449
21.7
-612
-638
-642
Net profit per shareYen-143.60-5,933.47

Fiscal 2011
Fiscal 2010

(Reference) Equity-method gain or loss

Ratio of ordinary
Ratio of operating
profit to total
profit to net sales
assets
%
%
%
-39.4
-36.4
-109.8
-15.8
-15.0
-42.3

Diluted net profit per share Return on equity
Yen-

Fiscal 2011

-Millions of Yen

Fiscal 2010

-Millions of Yen(2) Financial position
Total assets
Fiscal 2011
Fiscal 2010

Net assets

Millions of Yen
7,256
4,262

(Reference) Shareholders’ equity

%
91.0
95.8

Shareholders' equity per
share
Yen
345.2836,541.74

Fiscal 2010

4,083Millions of Yen

Cash flow from financing
activities
Millions of Yen
4,610
662

Cash and cash equivalents
at end of fiscal period
Millions of Yen
6,310
3,915

Equity ratio

Millions of Yen
6,605
4,083

Fiscal 2011

6,605Millions of Yen(3) Cash flow

Fiscal 2011
Fiscal 2010

Cash flow from operating
activities
Millions of Yen-2,074-753

Cash flow from investing
activities
Millions of Yen
-117
-115

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

2. Dividends
1st quarter
Fiscal 2010
Fiscal 2011
Fiscal 2012 (Forecast)

Yen-

Annual dividend per share
Interim period
3rd quarter
Fiscal Year End
end
Yen
Yen
Yen
0.00
0.00
0.00
0.00
0.00
0.00

Total dividends

Payout ratio

Net assets

Millions of Yen
0
0

%
0.0
-

%
0.0
0.0

Full year
Yen
0.00
0.00
0.00

3. Forecast of Business Results for Fiscal 2012 (January 1, 2012 to December 31, 2012)(Percentage figures represent changes from the same periods of previous fiscal year.)Net sales
Millionsof Yen%Operating profit

Ordinary profit

Millionsof Yen%Millionsof Yen%----1,625--1,652

InterimFull Year
2,338
24.2
4. Other(1) Changes in Accounting Principles(i) Changes due to revision of
accounting standards

Yes

Net profit

Net profit per share

Millionsof Yen

%

-

-

-

-

-

-1,656--86.56

Yen

No

Yes
No
(ii) Changes other than 1(Note) For details, refer to “Changes in Accounting Policies” on Page 25.

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

Fiscal 2011

19,130,900sharesFiscal 2010

111,737shares(ii) Number of shares of treasury stock at year
end

Fiscal 2011

75sharesFiscal 2010

-shares(iii) Average number of shares during the term
Fiscal 2011
14,655,716sharesFiscal 2010
108,252shares(Note) Refer to “Per share information” on Page 61 for number of shares that forms the basis for calculating net profit per share* Implementation status of the audit
The audit of financial statements in accordance with Financial Instruments and Exchange Act is proceeding as at the disclosure ofthis report of business results.
*Note to ensure appropriate use of forecasts(Stock split)
On June 2, 2011, the Company made a stock split at the rate of 100 shares for each outstanding share. Each figure for Fiscal
2011 presented in this material was retroactively adjusted for number of shares after the stock split.
Notes on the forward-looking statements
The Company does not disclose forecast of business results for the first six months of fiscal year.
All forecasts presented in this document including forecast of business results are based on the information currently available tothe management and the assumptions that we judge reasonable. Actual results may differ substantially from these forecasts due tovarious factors. Regarding the assumptions on which the forecast of business results is based and its usage, please refer to“Business results analysis” on Page 1 of the attachment.

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Index of the attachment
1. Business results………………………………………………………………………………………………….……….
(1) Business results analysis ………………………………………………………………………………………...…..
(2) Financial position analysis ………………………………………………………………………………………….
(3) Basic policies concerning profit distribution and dividends …………………………………………………………
(4) Risks of business …………………………………………………………………………………………………..…
2. Situation of corporate group …………………………………………………………………………………………….
3. Management policies ……………………………………………………..….………………………………………….
(1) Basic policy of company management …………………………..………………………………………………….
(2) Key performance index ………………………………………..…………………………………………………….
(3) Pipelines ……………………………………………………………………………………………………………..
(4) Medium to long-term strategy …………………………………………………………………………………….…
(5) Issues to be solved by the Company …………………………………………………………………………………
(6) Other important matters for the Company’s management …………………………………….………………..…...
4. Financial statements …………………………………………………………………………………………………..…
(1) Balance sheet …………………………………………………………………………………………………………
(2) Income statement ………………………………………………………………………………………………….…
(3) Statement of changes in shareholders' equity ……………………………………………………………………..…
(4) Cash flow statement ………………………………………………………………………………………………….
(5) Related parties……………………………………………………………………………………………………….
(6) Important accounting policies …………………………………………………………………………………..…..
(7) Changes in accounting method ………………………………………………………………………………….….
(8) Changes in presentation s …………………………………………………………………………………..……….
(9) Notes on financial statements ……………………………………………………………………………………...…
(Balance sheet) …………………………………………………………………………………………………..…
(Income statement) ………………………………………………………………………………………..……….
(Statement of changes in shareholders’ equity) …………………………………………………………………...
(Cash flow statement) …………………………………………………………………………………………..….
(Lease transactions) ……………………………………………………………………………………………..…
(Financial instruments) ………………………………………………………………………………………..…...
(Marketable securities) …………………………………………………………………………………………….
(Derivatives trading) ………………………………………………………………………………………………
(Retirement benefits) ………………………………………………………………………………………………
(Stock options) ………………………………………………………………………………………………….…
(Deffered tax accounting) ………………………………………………………………………………………….…
(Equity-method gain/loss) …………………………………………………………………………………………
(Asset retirement obligations) …………………………………………………………………………………..…
(Investment properties) ……………………………………………………………………………………………
(Segment information) ………………………………………………………………………………………….…
(Related parties information) ………………………………………………………………………………………
(Per share information) …………………………………………………………………………………………….
(Significant subsequent event) …………………………………………………………………………………….
5. Other ……………………………………………………………………………………………………………………
(1) Changes in Officers …………………………………………………………………………………………………
(2) Other …………………………………………………………………………………………………………………

1
1
2
3
3
10
11
11
11
11
13
14
15
16
16
18
19
21
22
23
24
25
25
25
26
26
28
29
30
35
35
36
36
59
59
59
60
60
60
61
62
63
63
63

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

1. Business results(1) Business results analysis
Business Results Analysis for Fiscal 2011
Progress in the Company’s business for Fiscal 2011 is as follows:(i) Domestic
In Japan, the Company sells an anticancer drug SyB L-0501 (the generic name: bendamustine hydrochloride, the trade
name: TREAKISYM®) through the business partner Eisai Co., Ltd. (Eisai) for the indications of refractory/relapsed indolent
non-Hodgkin’s lymphoma (NHL) and mantle cell lymphoma (MCL).The sales of TREAKISYM® had been steady after thelaunch in December 2010 and the Company’s sales of the product to Eisai were mostly in line with the plan.
With regard to the development of TREAKISYM®, patient enrollment was completed for Phase II clinical trials(collaborative trial in Japan and South Korea) for the extended indication of refractory/relapsed aggressive non-Hodgkin’s
lymphoma in June 2011 and continued the administration to enrolled patients. We started Phase II clinical trials for theindications of indolent non-Hodgkin’s lymphoma and mantle cell lymphoma in November 2011. We also started Phase II
clinical trials for the indication of refractory/relapsed multiple myeloma in December 2011.
We continued the patient enrollment and administration for Phase II clinical trial of SyB D-0701 (a transdermal antiemetic
patch) for the indication of radiotherapy-induced nausea and vomiting.
The pre-clinical trials continued to support the initiation of Phase I clinical trials for the anticancer drug SyB 0702.

Meanwhile, the Company signed the licensing agreement with Onconova Therapeutics, Inc. (United States) on July 7, 2011,
which allows us to exclusively develop and commercialize anticancer drugs SyB L-1101 (the intravenous form)/C-1101 (theoral form) (the generic name: rigosertib) for Japan and South Korea. With regard to these drugs under development, we
continued preparations for domestic Phase I clinical trials (for SyB L-1101, the intravenous form) for the indication ofrefractory/relapsed myelodysplastic syndrome (MDS).
(ii) Overseas
The sales of SyB L-0501 were steady in Singapore. SyB L-0501 was approved for the indications of chronic lymphocytic
leukemia and multiple myeloma in South Korea on May 31, 2011 and the sales started in October 2011.We sell the products
through Eisai in Singapore and South Korea as in Japan.
Furthermore, SyB L-0501 received the approval to manufacture and commercialize from the Taiwanese authority on
October 18, 2011 in consequence of the continued negotiations with the authority by the business partner InnoPharmax Inc.
(Taiwan).
(iii) Business results
As a result of the aforementioned developments, net sales totaled 1,882,521 thousand yen for the fiscal year ended reflecting
the sales of SyB L-0501 in Japan and Asian countries, the start of development for the therapy for untreated indolent nonHodgkin’s lymphoma and Mantle cell lymphoma in Japan, and the milestone revenue booked for the sales approval for SyB L0501 in South Korea and Taiwan.
Selling, general and administrative expenses totaled 2,725,182 thousand yen comprising research and development cost of
1,945,029 thousand yen for the accrual of lump-sum contract payment associated with the in-licensing of product candidates(SyB L-1101/C-1101) in addition to clinical trials and their preparations for multiple indications for SyB L-0501, clinical trials
for SyB D-0701, and pre-clinical trials for SyB 0702 as well as selling, general and administrative expenses of 780,153
thousand yen.
As a result, we posted operating loss of 2,066,846 thousand yen for the fiscal year ended. Non-operating income was 56,382
thousand yen mainly because of reimbursement from NEDO and non-operating expense was 84,919 thousand yen mainly due
to IPO preparation costs. As a result, we posted ordinary loss of 2,095,382 thousand yen and net loss of 2,104,513 thousand
yen for the fiscal year ended.
Forecast of Business Results for Fiscal Year 2012
We expect net sales of 2,338 million yen, a 24.2% increase from the fiscal year ended, primarily driven by the sales growth of
TREAKISYM® launched in December 2010.Meanwhile, for the aim of further enhancing the enterprise value, we will advance-1-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

the development of proprietary pipelines, including new indications for the mainstay anticancer drug SyB L-0501.To this end, we
anticipate R&D spending of 1,828 million yen (1,945 million yen in the fiscal year ended) and selling, general and administrative
expenses of 2,535 million yen (2,725 million yen in the fiscal year ended) including R&D spending.
The Company’s major development plans of pipelines are as follows:<SyB L-0501> (anticancer drug)
We currently proceed with multiple clinical trials for SyB L-0501 for the extended indications and plan to apply for an
approval in Japan for the indication of refractory/relapsed aggressive non-Hodgkin's lymphoma. We also plan to continue
domestic Phase II clinical trials for the therapy for untreated indolent non-Hodgkin's lymphoma, mantle cell lymphoma, andrefractory/relapsed multiple myeloma. We will also consider the development of SyB L-0501 for other indications.
<SyB L-1101> (anticancer drug)
We plan to start domestic Phase I clinical trials for the indication of refractory/relapsed myelodysplastic syndrome (MDS).
<SyB D-0701> (a transdermal antiemetic patch)Phase II clinical trials will be continued.
As a result of these planned activities, net sales of 2,338 million yen, operating loss of 1,625 million yen, ordinary loss of
1,652 million yen, and net loss of 1,656 million yen are projected for Fiscal 2012.

(2) Financial position analysis(Analysis of assets, liabilities, net assets, and cash flow)
Total assets as of December 31, 2011 stood at 7,256,094 thousand yen, an increase of 2,993,311 thousand yen from theprevious fiscal year end. This was primarily due to an increase of 2,244,230 thousand yen of cash and deposits by fundprocurement through third-party allotment and listing of stocks. Current assets stood at 7,178,392 thousand yen, an increase of
2,965,591 thousand yen from the previous fiscal year end reflecting an increase of accounts receivable and merchandise andfinished goods mainly driven by the sales growth and an increase of marketable securities along with an increase of cash anddeposits. Fixed assets stood at 77,702 thousand yen increase of 27,719 thousand yen from the previous fiscal year end mainly due
to recording of long-term prepaid expenses for a portion of development costs.
Liabilities stood at 650,529 thousand yen, an increase of 470,810 thousand yen from the previous fiscal year end, reflecting an
increase of accounts payable of 307,784 thousand yen resulting from the growth of product sales.
Net assets increased by 2,522,500 thousand yen from the previous fiscal year end to 6,605,564 thousand yen despite net loss of
2,104,513 thousand yen posted for the fiscal year ended because capital and capital reserve increased by 2,313,780 thousand yen
respectively owing to third-party allotment and listing of stocks. This results in a decrease of capital-to-asset ratio by 4.8
percentage points from the previous fiscal year end to 91.0%.
Cash and cash equivalents (hereinafter “cash”) stood at 6,310,978 thousand yen, an increase of 2,395,213 thousand yen fromthe previous fiscal year end. This was because of cash increase from financing activities resulting from the fund procurement by
third-party allotment and listing of stocks, in spite of cash decrease from operating activities due to an increase of accounts
receivable and inventories and net loss recorded for the fiscal year ended as well as cash decrease from investing activities due tothe purchase of marketable securities and fixed assets.
Cash flow and its factors for the fiscal year ended are as follows:(Cash Flow from Operating Activities)
Cash flow from operating activities showed a decrease of 2,074,057 thousand yen by decreasing factors totaling 2,644,451
thousand yen comprising net loss before tax of 2,100,713 thousand yen, an increase of accounts receivable of 156,474 thousand
yen, and an increase of inventories 207,467 thousand yen, despite increasing factors totaling 570,394 thousand yen such asincreases of trade accounts payable by 307,784 thousand yen and other accounts payable by 153,739 thousand yen.

-2-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Cash Flow from Investing Activities)
Cash flow from investing activities showed a decrease of 117,356 thousand yen mainly due to a cash decrease of 201,283
thousand yen for the purchase of marketable securities.
(Cash Flow from Financing Activities)
Cash flow from financing activities showed an increase of 4,610,820 thousand yen mainly due to proceeds from issuance of
new stocks by third-party allotment and listing of 4,627,560 thousand yen.
(Development of index related to cash flow)

Capital-to-asset ratio (%)
Equity ratio on a fairmarket value basis (%)
Debt redemption period

3rd Term

4th Term

5th Term

6th Term

7th Term

Fiscal year ended

Fiscal year ended

Fiscal year ended

Fiscal year ended

Fiscal year ended

December 2007

December 2008

December 2009

December 2010

December 2011

84.3

87.0

95.1

95.8

91.0

―

―

―

―

72.3

―

―

―

―

―

―

―

―

―

―

(years)Interest coverage ratio

Capital-to-asset ratio: shareholders' equity/total assets
Capital-to-asset ratio on a fair market value basis: total market value/total assets
Debt redemption period: Interest-bearing debt/cash flow from operating activities
Interest coverage ratio: cash flow from operating activities/interest payment(Notes) 1. Equity ratio on a fair market value basis is not shown until the 6th term and is shown from the 7th term.
2. Total market value calculated based on the number of shares issued excluding treasury stocks.
3. Debt redemption period and interest coverage ratio are not available for the 2nd, 3rd, 5th, 6th and 7th Terms becauseof negative cash flow from operating activities.
2. Debt redemption period and interest coverage ratio are not available for the 4th Term because of no interest-bearing
debt and interest expense.
(3) Basic policy for profit distribution and dividends for Fiscal 2011 and 2012
Since the foundation of SymBio, dividends have not been distributed.
Although SymBio started booking product sales, the company develops pharmaceutical drugs and continues to use funds fordevelopment activities. Therefore, it is our policy to attempt to gain retained earnings, not to distribute profit dividends, andpreference to retain funds for sustainable development activities. However, we recognize that the return of profit to stockholders
is an important management issue and will consider profit distribution based on future business performance and financial
condition.
The articles of incorporation provide that the Company can pay interim dividend based on a corporate resolution by Board of
Directors on June 30 every year as the record date. The Company can also make a distribution of surplus by designating a record
date in addition to year-end and interim dividends. Decision making body is board of directors for interim dividend, shareholders'meeting for year-end dividend.
(4) Risks of business
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 make active information
disclosure to investors and shareholders as these issues may carry weight in making investment decisions or in understanding ourbusiness activities. The Company is fully aware of the potential of these risks and will exert its utmost effort to prevent such risks
from substantiating, but should they substantiate, we intend to take full appropriate action. However, we consider that investment
decision regarding our stocks should be made by carefully evaluating the following matters, as well as other matters mentioned inother sections of this document. We would add that the following descriptions do not purport to cover all possible risks
associated with investment in our stocks. The future perspectives mentioned below reflect our understanding of our businesscircumstances as of the date of publication of this document.

-3-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(i) Risks associated with pharmaceutical development in general
SymBio's main business is to in-license drug development candidate compounds created by pharmaceutical companies and bio
ventures, and to develop them into pharmaceutical products. The R&D field of pharmaceuticals is replete with strong competition
including pharmaceutical giants. What is more, specialty pharmaceutical company such as SymBio try to emulate each other inquality and speed within the sector. The process from development to manufacture and marketing involves many regulatory
hurdles, necessitating a vast amount of capital input over a long period of time in business operations. Their future prospects
involve uncertainty and these risk factors are associated with the Company’s present and future business activities.
(a) Uncertainty involved in pharmaceutical development
Generally speaking, the pharmaceutical development process up to the market 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 not
infrequent 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 in each phase a decision is made on whether the development should
continue. Therefore, it is not rare to see a decision to stop a development in mid-process. The probability is low for adevelopment progressing successfully and for a product coming on stream. Even after a product is successfully developed andlaunched in the market, there remains a risk that the approval gets cancelled because of inefficacy or side effects should serious
side effects prove to have the potential to increase damage to health (for details, refer to “(f) risk associated with side effects”),
or should the efficacy fail to be recognized by the re-evaluation of efficacy and safety, conducted either on a regular or
temporary basis, in light of the current academic standards of medicine and pharmaceuticals at the time of re-evaluation. To
reduce and spread these risks, the Company aims to possess several pipelines and endeavors to prioritize insofar as possible thein-licensing of drug candidates with confirmed POC (proof of concept) on human subjects. Yet, for small specialty
pharmaceutical companies such as SymBio, the impact is huge if a single candidate compound is removed from the pipeline.
This could have a significant effect on our financial position, business performance, and cash flow.
(b) Uncertainty of income
In order to raise income from the products we are developing, we need to succeed in 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 sufficient profitability needed in continuing our business. We currently hold four items in the pipeline.
SyB L-0501, an anticancer drug, gained an approval for manufacturing and commercializing in Japan on October 27, 2010,
indicated for the treatment of refractory/relapsed indolent non-Hodgkin's lymphoma as well as refractory/relapsed mantle cell
lymphoma. As additional indications, Phase II clinical trials are underway for refractory/relapsed aggressive non-Hodgkin’s
lymphoma, untreated indolent non-Hodgkin's lymphoma, untreated mantle cell lymphoma, and refractory/relapsed multiple
myeloma. SyB D-0701, a transdermal antiemetic patch, has started Phase II clinical trials. SyB L-1101 (the intravenousform)/SyB C-1101 (the oral form), anticancer drugs in-licensed in July 2011, are being prepared for domestic Phase I clinical
trials in the intravenous form indicated for the treatment of myelodysplastic syndrome (MDS). We are promoting thedevelopment of these compounds, aiming to successfully market the end products to obtain income. In some cases, we may
consider entering into alliance with other pharmaceutical companies in development and marketing so as to expedite the inflow of income. Notwithstanding our effort, these pipeline compounds will take a considerable amount of time before theyreach the market. 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 pharmaceutical companies. We are of the opinion that the selection of indications and the methods ofalliance and marketing so far identified promise sufficient future profitability, considering the market size and marketing
performance of approved drugs. However, should we prove to be wrong in the assessment, or should there be any change inthe conditions on which the assessment is based and we cannot promptly adjust to the changes, there may be a significant
impact on our financial position, business performance, and cash flow.
(c) Uncertainly in legislations and regulations requiring compliance and health insurance system
The pharmaceutical industry, SymBio‘s business field, is subject to various regulatory restrictions imposed by thepharmaceutical laws and administrative guidance as well as other relevant legislations of respective countries in all aspects ofbusiness operations, namely, research, development, manufacture and marketing. We formulate our business plans inaccordance with the pharmaceutical laws and other current legislative regulations and with the health insurance system-4-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

together with the drug pricing developments that emerge from these legislations. Notwithstanding, there is no guarantee thatthese regulations, systems and pricing will not change before the products that we are developing reach the market. If any
major change 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 pharmaceutical business in Asia, not limited to Japan, where we anticipate growth of healthcare needs andposition as the strategic business domain. In overseas markets similarly to in Japan, the pharmaceutical development andmarketing generally require a vast amount of expenditure and are associated with business risks. To reduce investment
expenditure and spread business risks, we out-license the development and marketing of some of our developed drugs overseas
to pharmaceutical and other companies. When we out-licenses the rights we possess, we select a licensee company after
careful due diligence and continue monitoring as appropriate. The development and sales of out-licensed products are subject
to business conditions of the licensee company or any changes in regulatory and competitive environments in respective
countries and may fall below the original expectations, resulting in milestone revenue and royalty income generated below ourplan. 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 pharmaceuticalcompanies and research institutions including giant multinational pharmaceuticals compete in the arena. Technologicalinnovation is progressing rapidly. Many competitors have comparative advantage over us in technology, marketing andfinancial position. Thus these companies may more efficiently produce and sell competitor products of greater effectiveness toour developed products. This means that what transpires in the competition we conduct with these competitors in development,
manufacturing and marketing operations may have a significant impact on our financial position, business performance, andcash flow.
(f) Risk associated with side effects
Unexpected side effects may occur from the use of pharmaceutical products, from their clinical trial stage to post-marketingstage. When serious and unexpected side effects are developed, compensation claims may arise, or depending on the situation,
there is the risk of a delay in clinical trials or even discontinuation of product development. In case such side effects could leadto further damage to health, there is the risk for the cancellation of approval or the discontinuation of sales. Regarding
compensation claims, we have in place the liability insurance necessary to minimize the financial damage when such claims
arise. However, it does not exclude the possibility that the compensation award exceeds the amount insured. In this regard,
there may be a significant impact on our financial position, business performance, and cash flow.
(g) Product liability
The development and manufacture of pharmaceutical products involve product liability risk. If in future, any products that
we have developed cause damage to health or any inappropriate matters are discovered in clinical trials, manufacture, sales ormarketing, we will be subject to product liability. This may have a significant impact on our financial position, businessperformance, and cash flow. Indeed, if a product liability compensation suit is filed against us, our corporate image will bedamaged, leading to loss of confidence in us and our drugs, which may have an impact on our business.
(ii) Risk in operating our business(a) Risk concerning business model
SymBio does not own its research and manufacturing facilities. We mainly target orphan drugs in oncology, hematology andautoimmune diseases, in-licensing from pharmaceutical companies and bio ventures drug candidates mostly with POC
confirmed on human subjects and developing and marketing them as pharmaceutical products for the Japanese and Asianmarkets (China, South Korea, Taiwan and Singapore, etc.). We adopt the business model to raise income and profit from doing
so. In developing the pipeline and marketing, we plan to engage in alliances with other pharmaceutical companies. However,there is no guarantee that we can continuously in-license drug candidate compounds that satisfy our criteria and secure partnercompanies. In addition, as we mainly target orphan drugs for in-licensing, we may not be able to generate the expected sales
turnover. In such cases, there may be an impact on our financial position, business performance, and cash flow. What is more,
the competition surrounding the pharmaceutical sector and changes in SymBio's financial position may force us to revise ourbusiness model. Should this occur, there may be a significant impact on our business.

-5-

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(b) Dependency on a specific customer
As a specialty pharmaceutical company without production facilities, SymBio needs to depend on supply of products fromother companies when conducting the clinical trials of products under development and in post-marketing sales. Given thisfact, the financial position and production conditions of the product supplier may have a significant impact on our financial
position, business performance, and cash flow. In pipeline development and marketing, our current business plan is focused on
forming alliances with pharmaceutical companies. However, if the partner company's management condition deteriorates
drastically or if its management policies change, which are matters beyond our control, our initial business plan may not berealized. Also, if any breach of contract occurs that necessitate the termination of the contract as stipulated by the contract, thealliance may end before the agreed term. In such cases, there may be a significant impact on our financial position, businessperformance, and cash flow. Normally, in alliance contracts with partner companies, expected revenues of specialty
pharmaceutical company such as SymBio, to be gained before the products reach the market will be a lump sum upon signing
the contract, funding for co-development and milestone payment. Of these, the milestone payment is an extremely unstable andunpredictable income as it is based on the attainment of predefined results. If development progress is delayed, there may be asignificant impact on our financial position, business performance, and cash flow.
(c) Risk concerning intellectual property rights
In our drug development activities, we make use of various intellectual property rights. The use of these rights basically has
been granted from other companies such as pharmaceuticals and ventures. However, the possibility remains that our inlicensed candidate compound does not succeed in the pending patent application made by the in-licensing partner. Moreover, it
is difficult to completely avoid a third party creating an intellectual property right that supersedes the intellectual property rightto which we have consent of use. These situations could lead to a significant impact on our financial position, businessperformance, and cash flow. To date, no lawsuit has been filed by a third party against us concerning intellectual property
rights, including patents in connection with our product developments. However, in June 2009, an overseas pharmaceuticalcompany issued a written warning to us. The company demanded that there be no infringement of the patent in Japan of a
product owned by this company. In light of the advice from patent attorneys and lawyers, we believe that the claim being madeby the overseas company is groundless. Meanwhile, we have received no other request from the said company since June 2009
and therefore, our understanding is that we are not in dispute. Should a dispute arise with this company, there may be asignificant impact on our financial position, business performance, and cash flow. When in-licensing a product, we take advice
from lawyers and conduct a thorough due diligence investigation through patent firms in order to reduce such intellectual
property risks. Nevertheless, it is difficult to realize 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 our financial position, businessperformance, and cash flow. The candidate compounds that we in-license are not necessarily protected by patent. On the other
hand, even if our candidate compound 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 fora certain period of time.
(d) Data protection
To reduce the risk of significant confidential information relating to pipeline development and other business activities fromleaking outside the company, SymBio engages in rigorous data protection. We require directors, Scientific Advisory Board(SAB) members, outsourcing partners, and other business partners to sign confidentiality agreements. Even with the agreementin place, directors, SAB members, outsourcing partners and other business partners may not adhere to confidentiality, andshould this occur, significant confidential information may be divulged elsewhere, which may impact our business, financial
position, business performance, and cash flow.
(e) Risk concerning important contracts
If any contracts that might have significant impact on conducting our business operations are terminated due to its reachingfull term, being cancelled or for any other reason, there may be a significant impact on our financial condition, businessperformance, and cash flow.
(iii) Risk associated with organization(a) Risk of being a young company
SymBio is a young company founded in March 2005.Since inception, we have engaged in in-licensing activities of drug
development candidate compounds. We built up the pharmaceutical development business from scratch and recorded income-6-SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

from product sales in August 2010 for the first time in our history. There is a possibility that business issues that we have notever encountered arise in future. At the moment, however, it is difficult to predict any changes in the external environmental
factors that may affect our business results. Therefore, we consider our business results for the past years to be inadequate
reference material for passing an objective judgment on whether or not our company can continue to grow.
(b) Risk of being a small corporation
SymBio uses contract research organizations (CRO) in conducting R&D, thereby forming a development framework
requiring relatively small staff numbers. With progress in the development of pipeline already in place and with new pipelinesof new candidate compounds coming on stream, we plan to increase its human resources in R&D. However, for whateverreason, should an alliance with a CRO become terminated or should we fail to secure the planned number of staff or should theexisting staff decide to leave, our business operations may be hampered, leading to a possible impact on our financial position,business performance, and cash flow.
(c) Dependency on a specific person
Mr. Fuminori Yoshida, the Representative Director, founding President and CEO, has played a key role since SymBio’s
foundation in the implementation and execution of all operations in the company business management. Thus, in the event that
Mr. Yoshida cannot continue to perform his corporate responsibilities for some unforeseen reasons, it will have a significant
impact on our business operations.
(d) The Scientific Advisory Board (SAB)The Scientific Advisory Board (SAB) is an advisory panel to the president on the in-licensing evaluation of new drugcandidates. We invite members of the panel from clinicians and scientists engaged in basic research who we regard as having
excellent track records and experience. The SAB meets two or three times a year to engage in active discussion and debate,with each member giving his/her specialist perspective so that a good risk-balanced portfolio can be created from among thevast volume of drug candidates gathered from the worldwide, with due consideration of healthcare needs and profitability. We
will continue in our effort to acquire members of excellence for the SAB. However, if difficulty should arise in procuring
members, for reasons such as the cancellation of contract with existing members, ending of the term of office or refusal ofrenewal, or should a brain drain occur, there may be an impact on our in-licensing of drug candidates.
(ix) Business Results(a) Business performance in past years
SymBio's key business indicators are given below
Term

3rd Term

4th Term

5th Term

6th Term

7th Term

Fiscal Year Ended

December 2007

December 2008

December 2009

December 2010

December 2011

Revenues (thousand
yen)―

1,630,029

1,191,127

1,449,972

1,882,521

Operating profit (loss)(thousand yen)

(1,331,474)

132,859(208,027)(612,793)(2,066,846)

Ordinary profit (loss)(thousand yen)

(1,323,704)

24,169(214,072)(638,375)(2,095,382)

SymBio’s net sales up until the 5th Term consisted only of income from alliance contracts (e.g. contract agreement lumpsum, milestone payment). From the 6th Term, we have recorded sales deriving from the sale of products. To date, with the
exception of the 4th Term, the total cost of R&D and other general administrative costs exceeded our income, resulting in theposting of losses in operating income, ordinary income and net income. For this reason, we do not consider the financial
statements and indicators for past years to provide adequate reference data in making timely comparisons in businessperformance and in forecasting our future business performance.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(b) Expected Increase in R&D Expenditure
SymBio's R&D expenditures for the past five fiscal years are given below
Term

3rd Term

4th Term

5th Term

6th Term

7th Term

Fiscal Year Ended

December 2007

December 2008

December 2009

December 2010

December 2011874,275

868,241

816,501

1,118,182

1,945,029

R&D expenditure(thousand yen)

SymBio intends to further continue R&D activities, which would mean an increase of the cumulative loss for the foreseeable
future. With future increases in the product sales revenue from more additional indications of SyB L-0501 and in the income
from alliances with pharmaceutical companies, we intend to improve our business performance as soon as possible; however,there is no guarantee that our assumptions will materialize and swift performance improvement seen.
(c) Negative retained earnings brought forward
SymBio is a specialty pharmaceutical company. Until the products under development at the clinical stage reach the market
so that we can earn stable income through product sales and royalty income, we will post a huge up-front outlay of R&D
expenditure. Due to this, from the 1st Term to 3rd Term and from the 5th Term to 7th Term (years ended December 2005,
2006, 2007, 2009. 2010, and 2011), we have posted net current losses since our foundation. At the end of 7th Term, the year
ended December 31, 2011, we recorded 5,413,091 thousand yen as retained earnings carried forward.
We intend to become a profitable business entity as early as possible by advancing our quality clinical programs 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 our business fail to develop as planned and net profits are not generated, we face the possibility of aconsiderable delay in our negative retained earnings carried forward turning positive.
(d) Fund-raising
The nature of SymBio's specialty pharmaceutical business means that the Company will require huge R&D funding. If ourbusiness plan does not take shape as planned and we suffer a shortfall in funding, we will endeavor to procure funds bychanging our strategic alliances, securing new alliance contracts or issuing new stocks. However, if we fail to generate funds
exactly when they are required, there may be a serious doubt cast over the continuation of our business operations.
(e) Net operating loss carried forward on tax
Net operating loss carried forward on tax exists this year end. For this reason, we are not subject to corporate tax, local
inhabitant tax and local enterprise tax at the standard rates and we expect this to continue for several terms into the future.
However, if our business performance makes a good progress in future due to favorable business development, net operating
loss carried forward may be removed earlier than anticipated and no longer be applied to the deduction of taxable income.
Should this situation occur, we would become liable for the payments of corporate tax, local inhabitant tax and local enterprisetax at standard rates, which may have an impact on net profit/loss and cash flow currently planned.
(v) Other Risks(a) Profit distribution to stockholders
Since the foundation of SymBio, dividends have not been distributed. We are currently at a business stage of still making
up-front investment into the development of pharmaceutical drugs and we continue to prioritize the use of funds forstrengthening our financial position and for continued R&D activities. Thus, we have at present no plans for making dividend
payout. However, we recognize that the return of profit to stockholders is an important management issue and will consider
profit distribution based on future business performance and financial condition.
(b) Procurement of funds
As we rapidly expand our business, we expect to see an increase in our development funding requirement. One of ouroptions for procuring funds is to issue new stocks. If we do so, the number of our outstanding stock will increase, potentiallydiluting the value per share of our stock.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(c) Stock value dilution by execution of stock acquisition rights
We adopt 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 Companies Act Article 236, 238, and 239, stock acquisition rights are granted to board
directors and employees with approval given by a resolution passed by the general meeting of shareholders.
As of the date of publication of this document, the number of stock acquisition rights (hereinafter, number of potential
shares) totals 2,718,500 shares and comprises 12.4% of the total number of outstanding shares and potential shares added
together.
There is the possibility that stock value per share for the company will be diluted if these existing stock acquisition rights are
exercised. To attract talent, we may continue to offer similar incentives. This means that if these stock acquisition rights are
exercised in 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 foundation in March 2005.
Stock acquisition rights have been issued since the inception of plan paying special attention to a provision of Securities andExchange Law of 1948 that board directors and employees are excluded from the calculation of number of persons receiving
minority private offering. However, even after Order for Enforcement of the Financial Instruments and Exchange Act Article
2-12 was no longer exempted (the article had purported to exempt the application of the provision that required the exclusionof directors/officers and employees from the calculation of persons receiving small private offerings in case stock acquisitionrights were granted to persons other than directors/officers and employees) due to the amendment of Guidance for Corporate
Information and Related Disclosure in response to the revision of Financial Instrument and Exchange Act in September 2007,
we had continued to issue stock acquisition rights in accordance with the provisions of Securities and Exchange Act 1948 dueto the malfunction of internal organizations to collect information regarding revision of laws and ordinances and assess theirimplications to the Company.
In consequence, it came to light that we had not duly submitted Securities Registration Forms for the stock acquisition rights
it had issued in October 2008, March 2009, and March 2010 despite there being legal obligations to do so as the number of
persons receiving offers had exceeded 50, making them unregistered offerings prohibited under the laws.
Immediately upon discovery of this lapse, we reported the fact to the Kanto Local Finances Bureau and launched a thoroughenquiry into how and why such omission arose, and swiftly submitted the legally required disclosure documents in August
2010. At the date of publication of this document, we have duly filed all the required disclosures.
Furthermore, based on in-house findings concurrently obtained regarding the cause of omission and advice received fromexternal experts, measures to prevent recurrence are formulated and put strictly in effect focusing on the following five
objectives: 1. Re-education regarding compliance at the whole company level, 2. Creation of compliance mechanism andinternal organization reinforcement, 3. Reinforcement of compliance committee functions, 4. Reinforcement of relations withand active use of external experts, 5. Reinforcement of a system of checks by the board of auditors and internal audit office
We have not received any surcharge payment order related to this incident at the date of publication of this document.
Should we receive any surcharge payment order, however, it may have a significant impact on our financial position, businessperformance, and cash flow.
(e) Stock holding by venture capitalIn general, venture capitals and investment partnerships own shares for the purpose of realizing capital gains by sellingshares after the IPO. There is the possibility that venture capitals and investment partnerships that own our shares may sell all
or a portion of our shares they own, and should it occur, it may have an impact on the market price of our share.
(f) Risk associated with natural disasters
If any disasters (earthquake, typhoon, fire, etc.) and plague occur in our geographic business domains, which lead to theoccurrence of human and material damage, or suspension and delay in business, fall in social credibility and compensation
issues may have an impact on our financial position, business performance, and cash flow.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

2. Situation of corporate group
None to be reported.

- 10 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

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 Ltd.(United States) and President of Amgen Japan (currently Takeda Bio Development Center Limited)for 12 years since its founding stage.
We aim to achieve social and management responsibilities by responding to unmet medical needs with guiding principle ofmutual harmony, spinning an intricate symbiotic relationship between patients, physicians, scientists, regulators and investors.
We regard underserved therapeutic areas with extremely significant medical needs as a business opportunity and focus on theareas of oncology, hematology, and autoimmune diseases where high entry barriers exist due to the high degree of specialization
required. In this sense, we are the first specialty pharmaceutical company in Japan. Rather than exploring blockbuster new drugs(those with the sales of more than 100 billion yen), we channel our resources into the development of new drugs specializing inoncology, hematology, and autoimmune diseases, where medical needs are outstanding though with the limited market size.
Holding multiple promising drugs and drug candidates in these areas will enable us to build the solid portfolio of pipelines andcontinue our business sustainably.
(2) Key performance index
We are of the opinion that, in order to enhance our enterprise value as specialty pharmaceutical company, it is inevitable tocontinually in-license candidate drugs under development and proceed with the development to place the products on the market,
and establish the sale and support system. To this end, we intend to aggressively make an ongoing investment of management
resources into R&D activities.
We recorded the product sales in this fiscal year for the first time as SyB L-0501 received a manufacture and marketing
approval in Japan and Singapore in 2010. However, the product sales have not generated revenue enough to cover the
aforementioned upfront investments at this moment and net profit has yet to be realized. We continuously seek the early
realization of a system to secure the stable profitability by promoting TREAKISYM® in collaboration with Eisai, actively adding
new indications for SyB L-0501, and developing and acquiring an approval for other products in the pipeline.
(3) Pipeline
SymBio currently has four pipeline products, SyB L-0501, SyB L-1101, SyB C-1101 and SyB D-0701.We will continue to inlicense new candidate drugs so as to expand and build the pipeline portfolio with the balanced risk-return trade-off.
(i) SyB L-0501
Bendamustine hydrochloride (the generic name), the active pharmaceutical ingredient of SyB L-0501, is an anticancer drugthat 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 1), multiple myeloma, and chronic lymphocytic leukemia. We have elected to in-license this product because
there is currently no effective medication for the indications of refractory/relapsed indolent non-Hodgkin’s lymphoma andmantle cell lymphoma. These are precisely underserved therapeutic areas aligned with our corporate missions and also fallwithin one of our targeted therapeutic fields (hematologic cancer). Astellas Deutschland GmbH is the worldwide licensor of
bendamustine hydrochloride. In North America, Cephalon, Inc. (United States) is licensed from Astellas Deutschland GmbHand obtained approvals from Food and Drug Administration (FDA) in the United States to use the drug for the treatment ofchronic lymphocytic leukemia and refractory B-cell non-Hodgkin’s lymphoma in March 2008 and October 2008, respectively.
Mundipharma International Corporation Limited (United Kingdom) and Jenssen-cilag (United Kingdom) are also licensed
from Astellas Deutschland GmbH and have the exclusive rights for development and marketing for Europe and other regions,
respectively. Meanwhile, SymBio is licensed from Astellas Deutschland GmbH and has the exclusive rights for development
and marketing for Japan, China (including Hong Kong), South Korea and Singapore. In Japan, the drug received a manufacture
and marketing approval with the indications of refractory/relapsed indolent non-Hodgkin’s lymphoma and mantle cell
lymphoma on October 27, 2010 and came into market under the trade name of TREAKISYM® on December 10, 2010.
In addition, Phase I clinical trials finished for the new indication of refractory/relapsed aggressive non-Hodgkin’s lymphoma
co-administered with rituximab (note 2) and Phase II clinical trials are currently underway.
Phase II clinical trials are also underway for the indications of untreated indolent non-Hodgkin’s lymphoma, untreatedmantle cell lymphoma, and refractory/relapsed multiple myeloma. We intend to maximize the enterprise value of
bendamustine by further promoting life cycle management. Eisai Co., Ltd. has the rights for joint development and exclusive
marketing under the contract with us and sells the product in Japan.

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SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

In Asia, SyB L-0501 received the approval for the indication of indolent non-Hodgkin’s lymphoma and chronic lymphocytic
leukemia in Hong Kong in December 2009.In Hong Kong, Cephalon, Inc. has the exclusive rights for development andmarketing and sells the drug. SyB L-0501 received the approval for the indications of indolent non-Hodgkin’s lymphoma andchronic lymphocytic leukemia in Singapore in January 2010.
In South Korea and Singapore, Eisai has the exclusive rights for development and marketing under the contract with us. In
Singapore, Eisai started to sell the product in September 2010 after receiving the approval. In South Korea, SyB L-0501
received the approval for the indications of chronic lymphocytic leukemia and multiple myeloma in May 2011 and Eisai
started to sell the drug in October 2011.
Else, Cephalon prepares for the initiation of clinical trials in China and our business partner InnoPharmax Inc. (Taiwan)
received the approval on September 28, 2011 in Taiwan for SyB L-0501.
At the American Society of Hematology (ASH) held in December 2009, Professor Mathias J. Rummel of University
Hospital in Giessen (Germany) reported that the combination therapy with bendamustine and rituximab causes fewer side
effects and is more efficacious than R-CHOP therapy (note 3) currently in use as the standard treatment of indolent nonHodgkin’s lymphoma as a result of the comparative study of untreated patients.
In this study, 549 untreated patients (note 4) were grouped at random into those undergoing the combination therapy of
bendamustine and rituximab and those undergoing R-CHOP therapy, and the efficacy, safety and progression free survival(PFS) period (note 5) were comparatively considered between the two groups. The analysis of 513 valid cases exhibited that themedian of progress free survival period (the primary evaluation item) was 54.9 months in the group with bendamustine andrituximab, prolonged by more than 20 months than 34.8 months in the R-CHOP group, which was statistically significant. As
for side effects, statistical significance was exhibited for hemotoxin, the use of G-CSF (note 6), and hair loss. Professor Rummel
concluded that the combination therapy of bendamustine and rituximab could be the first-line therapy for such indolent nonHodgkin’s lymphoma as follicular lymphoma and mantle cell lymphoma.
On December 22, 2009, approximately three weeks after the announcement by Professor Rummel at ASH, U.S. National
Comprehensive Cancer Network revised Clinical Practice Guidelines in Oncology and the combination therapy of
bendamustine and rituximab was listed in the guideline as a recommended first-choice drug for untreated patients of follicularlymphoma (indolent non-Hodgkin’s lymphoma) and mantle cell lymphoma.
(Note 1) 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 administered as first-line drug is the standard treatment for NHL. However, there is currently
no established therapy for failed or relapsed cases.
(Note 2) Rituximab is a monoclonal antibody against the protein CD20 used in the treatment of CD20-positive B-cell nonHodgkin’s lymphoma. In Japan, Chugai Pharmaceutical Co., Ltd. is the original seller and Zenyaku Kyogyo Co., Ltd.
manufactures and sells Rituxan® Injection 10mg/mL.
(Note 3) R-CHOP therapy denotes the combination therapy with rituximab, cyclophosphamide, doxorubicin, vincristine andprednisolone.
(Note 4) Untreated patients are those who have never been treated in the past and receive the treatment for the first time for theindication.
(Note 5) Progression free survival (PFS) period is the length of time during which the patients survive free of diseaseprogression.
(Note 6) G-CSF is the abbreviation for granulocyte-colony stimulating factor.
(ii) SyB L-1101/C-1101
SyB L-1101 (the intravenous form)/C-1101 (the oral from) (the generic name: rigosertib) is a multi-kinase inhibitor (note 7)with a unique mode of action against cancer. It is presently under development by Onconova Therapeutics (United States) in
the United States and Europe for the indications of myelodysplastic syndromes (MDS), pancreatic cancer and ovarian cancer.
Phase III clinical trials are underway for the indication of refractory/relapsed MDS (administered by intravenous injection), themost advanced-stage development of rigosertib, with an orphan drug designation by Food and Drug Administration in the
United States in 2009 and special protocol assessment (SPA) (note 8) for Phase III trial design as well.
In addition to the aforementioned advancements, an oral formulation of rigosertib is under development by Onconova
Therapeutics and Phase I clinical trials are underway for untreated myelodysplastic syndromes (MDS) as the indication. Phase
I clinical trials have been completed in solid tumors with the initiation of the Phase II/III combination clinical trials inpancreatic cancer and Phase II clinical trials in ovarian cancer.

- 12 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

SymBio signed the license agreement with Onconova Therapeutics in July 2011, for the exclusive right to develop andcommercialize rigosertib for Japan and South Korea. Based on this agreement, we plan to advance the development of theintravenous form of rigosertib in refractory/relapsed MDS, for which late stage development is conducted in Europe and theUnited Sates, and subsequently in the oral form in untreated MDS.MDS represent a group of hematologic tumors with theincreasing number of patients and commonly affects the elderly. MDS are relapsed diseases with a higher likelihood ofdeveloping leukemia. Effective medication has not been found especially for refractory/relapsed MDS, creating an underserved
therapeutic area.
We will continue the development for the indication of solid tumor as well as MDS. We plan to develop the treatment
methods that are well tolerated by patients and in compliance with relevant laws and regulations by appropriately alternating
the developments of the intravenous and oral forms.
(Note 7) Multi-kinase inhibitors impede the growth, proliferation and metastasis of cancer cells, thereby eradicating them.
(Note 8) Special protocol assessment (SPA) is a declaration from Food and Drug Administration (FDA) after the end of Phase
II clinical trials that an uncompleted Phase III clinical trial’s design, indications, clinical endpoints, valuation items, andstatistical analyses agreed upon at the pre-Phase III meeting are acceptable for FDA approval. New drug licensing application
utilizing this scheme facilitates the evaluation and approval by FDA and enhances the possibility of secure product launch inthe market because FDA already completes the considerations of the contents of Phase III clinical trials in advance.
(iii) SyB D-0701
SyB D-0701 is a sustained-release transdermal antiemetic patch containing granisetron and used to relieve nausea andvomiting (note 9) associated with cancer chemotherapy and radiotherapy. SyB D-0701 has an antiemetic effect that is sustainedfor 5 days and improves the effectiveness of treatment of patients undergoing chemotherapy and radiotherapy.
Thus, SyB D-0701 is expected to bring significant benefits to patients as well as health professionals involved as supportive
care (note 10) for cancer chemotherapy and radiotherapy outpatients as cancer prevalence continues to rise in future, and to
improve overall QOL (Quality of Life) of patients.
SymBio obtained from Abeille Pharmaceuticals, Inc. (United States) the exclusive right for development andcommercialization for Japan, China (including Hong Kong), South Korea, Singapore and Taiwan and proceeds with thedevelopment.
We started Phase II clinical trials in December 2010 with the intention to develop a drug for radiotherapy-induced nausea
and vomiting to begin with for which significant unmet medical needs exist due to the lack of effective medication.
(Note 9) Approximately 30% to 90% of patients experience nausea and vomiting associated with cancer chemotherapy andradiotherapy. These symptoms are some of the most painful side effects for patients. Persistent nausea and vomiting may leadto dehydration, electrolyte imbalance, and nutrient deprivation. They may also significantly influence the effectiveness ofcancer treatment due to loss of appetite or aggravated physical and mental condition of patients. Limiting nausea and vomiting
to the minimum is a key to improve overall compliance and leads the treatment to success. Vomiting is divided into three maincategories:
1. Acute
Vomiting develops within 24 hours of dosage of anticancer drug, usually starting within 1 or 2 hours.
2. Delayed
Vomiting develops from 24 to 120 hours after dosage of anticancer drug, and persists for several days.
3. Anticipatory
Vomiting usually develops on the day prior to dosage of anticancer drug.
(Note 10) Supportive care for cancer chemotherapy consists of the treatment of cancer-induced symptoms and complications
and the control of side effects of chemotherapy and radiotherapy, and also includes mental supports for patients. It assumes
considerable significant in cancer treatment to control cancer-induced pains and nausea and vomiting associated withchemotherapy and radiotherapy.

(4) Mid-Term/Long Term strategy
SymBio is pursuing primarily the following five strategies in order to achieve 10-year Long Range Plan (LRP), which isformulated each fiscal year on the rolling basis.
(i) De-risking by post-POC strategy- 13 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

We in-license drug candidates for which POC (proof of concept) is already confirmed on human subjects in principles.
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 on 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 high-quality pipeline with exceptional search and evaluation capabilities
Our new drug search engine is connected to the diverse networks with pharmaceutical companies and bio ventures, andenables us to select promising drug candidates from the vast amount of chemical compounds after the careful review byinternal 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
the timelines. It also helps to understand how satisfactorily the healthcare needs are met and to improve the accuracy ofrevenue projections after the product launch.
(iii) Containment of fixed costs by laboless/fabless strategy
SymBio does not own any research or production facilities, which are often regarded as the main causes for fixed costs.
Once development candidate compounds are searched and selected, we focus on value-added activities such as the formulationand implementation of development strategy and outsource other necessary routines. This enables us to reduce development
costs of pharmaceutical drugs and secure the mobility of financial strategy.
(iv) Realization of high business efficiency by “Blue Ocean” strategy
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 like“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 drug lag. Contrarily, once a new drug succeeds in receiving an approval and reaching the market forthese therapeutic areas, we would be able achieve a superior growth and profitability due to the lack of fierce competition bycontinuously expanding the indications and bringing new products into the market.
(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
and a transdermal antiemetic patch SyB D-0701 in Asian countries not only in Japan.
(5) Issues to be solved by the Company
The Company will solve the following important issues:(i) Further expansion of pipeline
In order to enhance the enterprise value as specialty pharmaceutical company, we need to expand the pipeline throughcontinually in-licensing of new candidate drugs for development.
We have four products in the pipeline and clinical trials are underway for an anticancer drug SyB L-0501 and a transdermal
antiemetic patch SyB D-0701.An anticancer drug SyB L-1101 (the intravenous form), which we in-licensed in July 2011, isbeing prepared for the initiation of clinical trials. We continue with ongoing efforts to in-license an additional pipeline.

- 14 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(ii) Pursuit of life cycle management of TREAKISYM® (SyB L-0501)
In order to enhance the enterprise value, it is critical to maximize returns from each drug candidate under development byadding new indications for developed candidate drugs after their initial introduction in pursuit of life cycle management.
TREAKISYM® has received the approval for manufacture and marketing with the approved indications ofrefractory/relapsed indolent non-Hodgkin’s lymphoma and refractory/relapsed mantle cell lymphoma. Phase II clinical trials
are underway for untreated indolent non-Hodgkin’s lymphoma, untreated mantle cell lymphoma, and refractory/relapsed
multiple myeloma as additional indications. We will add new indications in pursuit of life cycle management to maximize thevalue of TREAKISYM®.
(iii) Expansion to other Asian regions
SymBio positions China (including 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 that theseareas will assume increasing importance in our corporate strategy.
Among our pipelines, we plan to develop and market SyB L-0501 and SyB D-0701 in China (including Hong Kong), South
Korea, Taiwan, and Singapore as well as Japan. It is established by the result of market survey that significant medical needs
exist for SyB L-0501 and SyB D-0701 in these countries. We also plan to develop and market SyB L-1101/C-1101 in South
Korea other than Japan. We will aggressively launch clinical trials and apply for marketing approvals in these Asian countries.

(iv) Securing people
SymBio places the highest priority on people as the company management resource. We cannot make superior achievements
in exploring and developing new drugs without talent. Also, a company that considers out-licensing drug candidates to us
critically evaluates the quality of our people in due-diligence. Hence, we plan to further strengthen our human resources bycontinually recruiting talent and providing development programs such as OJT and other trainings.
(v) Financial issue
There is a possibility that the Company raises funds necessary for business activities such as R&D expenditures externallyas the pipeline development progresses and the number of drug candidates increases. Therefore, we make every effort tostrengthen the financial base by continually diversifying the method for fund procurement and reducing costs through andthorough budget control.
(6) Other important matters concerning the company management(i) Third-party allotment and stock listing
The Company made a capital increase totaling 2,000,040 thousand yen through a third-party allotment in February 2011 andMarch 2011 to secure funds necessary for R&D activities. Besides, SymBio Pharmaceuticals Limited was listed on Osaka
Securities Exchange JASDAQ Growth Market in October 2011 and 2,627,520 thousand yen was raised.
(ii) Important contracts
The Company signed the license agreement with Onconova Therapeutics, Inc. (United States), acquiring the exclusive
development and marketing right for Japan and South Korea for the anticancer drug SyB 1101 (the generic name: rigosertib)
on July 7, 2011.

- 15 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

4. Financial statements(1) Balance sheet(Unit: Thousand yen)
Fiscal 2010 (December 31, 2010) Fiscal 2011 (December 31, 2011)
AssetsCurrent assets
Cash and deposit
Accounts receivable
Marketable securities
Merchandise and finished goods
Prepaid expenses
Advance
Refundable consumption tax
Other2,314,484
5,934
1,701,323
101,905
86,081
3,070

4,558,714
162,409
1,952,533
207,467
79,038
124,589
69,571
24,067

4,212,800

7,178,392

7,358(4,726)

7,358(4,889)

2,631

2,468

Fixtures and equipment(Accumulated depreciation)

30,987(11,691)

32,410(17,471)

Fixtures and equipment, net

19,295

14,93821,927

17,407

772
-

9,541
3,189

772

12,73027,282-

23,26424,30027,282

47,564

Total current assets
Fixed assets
Tangible fixed assets
Building(Accumulated depreciation)
Building, net

Total tangible fixed assets
Intangible fixed assets
SoftwareLease assets
Total intangible fixed assets
Investments and other assets
Fixed leasehold deposit and security deposit
Long-term prepaid expense
Total investments and other assets
Total fixed assets
Total assets- 16 -

49,98277,702

4,262,783

7,256,094

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Unit: Thousand yen)
Fiscal 2010 (December 31, 2010) Fiscal 2011 (December 31, 2011)
Liabilities
Current liabilities
Trade accounts payable
Lease obligations
Other accounts payable
Income taxes payable
Accrued consumption tax
Advance received
Other

1,168
124,323
10,702
8,107
1,382
32,200308,953719
277,898
19,073
1,382
37,719Total current liabilities

177,884

645,746

1,835

2,691
2,092

1,835

4,783

Total liabilities

179,719

650,529

Net assets
Shareholders' equity
Capital stock
Capital surplus
Capital reserve

3,710,830

6,024,610

Long-term liabilities
Lease obligations
Allowance for retirement benefits
Total long-term liabilities

Total capital surplus
Earned surplus
Other earned surplus
Earned surplus carried forward
Total earned surplus
Treasury shares
Total shareholders’ equity
Appraisal and conversion variance, etc.
Other marketable securities appraisal varianceTotal appraisal and conversion variance, etc.
Total net assets
Total liabilities and net assets- 17 -

3,680,830

5,994,610

3,680,830

5,994,610(3,308,577)(5,413,091)(3,308,577)(5,413,091)

-

(17)

4,083,082

6,606,110

(18)

(546)

(18)

(546)

4,083,064

6,605,564

4,262,783

7,256,094

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(2) Income statement(Unit: Thousand yen)
Fiscal 2010 (January 1, 2010 to
December 31, 2010)

Fiscal 2011 (January 1, 2011 to
December 31, 2011)

Product sales
Rights income

325,650
1,124,322

1,632,471
250,050

Net sales

1,449,972

1,882,521

Beginning balance of inventory
Purchased

238,183

1,433,633

Full year

238,183

1,433,633-*4 1,981
207,467

Net sales

Cost of sales

Transfer to other accounts
Yearend of inventory
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating (loss)

238,183

1,224,185

1,211,789

658,336*1, *2 1,824,582*1,*2 2,725,182(612,793)(2,066,846)

1,014
2,420
8,213
1,077

863
2,559
51,891
1,068

12,72556,382

7,926
10,376
2,328
4,951
12,7250668
21,967
16,721
9,895
35,665Non-operating income
Interest income
Interest on securities
Income from subvention
Other
Total non-operating income
Non-operating expense
Loss on sales of marketable securities
Interest expenses
Fees
New share issuing expense
Foreign exchange loss
IPO preparation costs
Other
Total non-operating expenses
Ordinary (loss)

38,30884,919(638,375)(2,095,382)

Extraordinary loss
Loss on disposal of fixed assets
Impact of application of accounting standard for asset
retirement obligations*3

Total extraordinary loss
(Loss) before tax
Corporate tax, local inhabitant tax, and local enterprise
Tax
Total income tax
Net (loss)- 18 -

132

-

-

5,331

132

5,331

(638,507)(2,100,713)

3,800

3,800

3,800

3,800

(642,307)(2,104,513)

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(3) Statement of changes in shareholders' equity, etc.
(Unit: Thousand yen)
Fiscal 2010 (January 1, 2010 to
December 31, 2010)

Fiscal 2011 (January 1, 2011 to
December 31, 2011)

3,378,250

3,710,830

Shareholders' equity
Capital stock
Previous fiscal year end balance
Amount of change during this fiscal year
Issuance of new shares
Total amount of change during fiscal year
Fiscal yearend balance
Capital surplus
Capital reserve
Previous fiscal year end balance
Amount of change during this fiscal year
Issuance of new shares
Total amount of change during fiscal year
Fiscal yearend balance
Total capital surplus
Previous fiscal year end balance
Amount of change during this fiscal year
Issuance of new shares
Total amount of change during fiscal year
Fiscal yearend balance
Earned surplus
Other earned surplus
Earned surplus carried forward
Previous fiscal year end balance
Amount of change during this fiscal year
Net (loss)
Total amount of change during fiscal
year
Fiscal yearend balance
Total earned surplus
Previous fiscal year end balance
Amount of change during this fiscal year
Net loss (-)
Total amount of change during fiscal year
Fiscal yearend balance
Treasury shares
Previous fiscal year end balance
Amount of change during this fiscal year
Purchase of treasury stock
Total amount of change during fiscal year
Fiscal yearend balance- 19 -

332,580

2,313,780

332,580

2,313,780

3,710,830

6,024,610

3,348,250

3,680,830

332,580

2,313,780

332,580

2,313,780

3,680,830

5,994,610

3,348,250

3,680,830

332,580

2,313,780

332,580

2,313,780

3,680,830

5,994,610(2,666,269)(3,308,577)(642,307)(2,104,513)(642,307)(2,104,513)(3,308,577)(5,413,091)(2,666,269)(3,308,577)(642,307)(2,104,513)(642,307)(2,104,513)(3,308,577)(5,413,091)

-

-

-

(17)

-

(17)

-

(17)

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Unit: Thousand yen)
Fiscal 2010 (January 1, 2010 to
December 31, 2010)

Fiscal 2011 (January 1, 2011 to
December 31, 2011)

4,060,230

4,083,082

665,160(642,307)-

4,627,560(2,104,513)(17)

22,852

2,523,028

4,083,082

6,606,110(6,471)

(18)

6,453

(527)

Total shareholders’ equity
Previous fiscal year end balance
Amount of change during this fiscal year
Issuance of new shares
Net (loss)
Purchase of treasury stock
Total amount of change during fiscal year
Fiscal yearend balanceAppraisal and conversion variance, etc.
Other marketable securities appraisal variancePrevious fiscal year end balance
Amount of change during this fiscal year
Net change in other items than shareholders’equity during the period
Total amount of change during fiscal year
Fiscal yearend balance
Total appraisal and conversion variance, etc.
Previous fiscal year end balance
Amount of change during this fiscal year
Net change in other items than shareholders’equity during the period
Total amount of change during fiscal year
This fiscal year end balance
Total net assets
Previous fiscal year end balance
Amount of change during this fiscal year
Issuance of new shares
Net loss (-)
Purchase of treasury stock
Net change in other items than shareholders’equity during the period
Total amount of change during fiscal year
This fiscal year end balance- 20 -

6,453

(527)

(18)

(546)

(6,471)

(18)

6,453

(527)

6,453

(527)

(18)

(546)

4,053,758

4,083,064

665,160(642,307)-

4,627,560(2,104,513)
(17)

6,453

(527)

29,3052,522,500

4,083,064

6,605,564

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(4) Cash flow statement(Unit: Thousand yen)
Fiscal 2010 (January 1, 2010 to
December 31, 2010)

Fiscal 2011 (January 1, 2011 to
December 31, 2011)(Loss) before tax
Depreciation
Amortization of security deposits
Impact of application of accounting standard for asset
retirement obligations
Increase (decrease) in allowance for retirement
benefits
Interest income
Interest expenses
Foreign exchange loss (gain)
New share issuing expense
Fees
Loss on disposal of fixed assets
Decrease (increase) in accounts receivable
Decrease (increase) in inventories(638,507)
6,519
332

(2,100,713)
8,167
2,398

-

5,331

268

257

(3,435)
5,235
2,328
10,376132(5,934)-(3,422)668
23,647
16,721
21,967(156,474)(207,467)

Decrease (increase) in prepaid expenses
Decrease (increase) in advances
Decrease (increase) in consumption tax receivable
Decrease (increase) in other current assets
Decrease (increase) in long-term prepaid expenses
Increase (decrease) in trade payable
Increase (decrease) in other accounts payable
Increase (decrease) in consumption tax payable
Increase (decrease) in advance received
Increase (decrease) in other current liabilities
Other(58,295)(31,887)
9,147
(749)
1,168
(57,859)
8,107
1,382
20,476290

11,728(38,507)(69,571)(20,592)(24,300)
307,784
153,739(8,107)
13,889641

Subtotal(730,904)(2,062,214)

Interest and dividends received
Commitment fee paid
Interest paid
Income taxes paid

3,988
(22,500)(4,555)

3,451(10,829)(664)(3,800)Cash flow from operating activities(753,971)(2,074,057)

Payment for purchase of marketable securities
Proceeds from redemption of marketable securities
Expenditure for the purchase of tangible fixed assets
Expenditure for the purchase of intangible fixed
AssetsPayment for fixed leasehold deposit and security
Deposit
Proceeds from redemption of fixed leasehold deposit
and security deposit(200,905)
100,000(14,157)(201,283)
100,000(1,422)-(10,940)(844)(4,257)273

546

Cash flow from investing activities(115,633)(117,356)

Cash flow from operating activities

Cash flow from investing activities- 21 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Unit: Thousand yen)
Fiscal 2010 (January 1, 2010 to
December 31, 2010)

Fiscal 2011 (January 1, 2011 to
December 31, 2011)

Proceeds from issuance of new stock
Payment for issuance of new stock
Payment for purchase of treasury stock

665,160(2,328)-4,627,560(16,721)(17)

Cash flow from financing activities

662,832

4,610,820

1,236(24,193)(205,536)

2,395,213

Cash flow from financing activities

Effect of foreign exchange rate changes on cash and cash
equivalents
Increase (decrease) in cash and cash equivalents
Cash and cash equivalents at the beginning of the period
Cash and cash equivalents at the end of the period(5) Related parties
Non to be reported- 22 -

4,121,301

3,915,765*3,915,765*6,310,978

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(6) Important accounting policies
Item
1. Method for appraisal ofmarketable securities

Fiscal 2010 (January 1, 2010 to December 31,
2010)

Fiscal 2011 (January 1, 2011 to December 31,
2011)

Other marketable securities
Other marketable securitiesThose with market priceThose with market price
By market value method based on theSame as on the left
market price on the accounting date(appraisal variance shall all be handled bydirect input into net assets and the sales priceby moving average method).
Those with no market price
Cost method based on moving averagemethodThose with no market priceSame as on the left

2. Method for appraisal of
inventories

By cost method based on total average method(balance sheet value is calculated by writing
down the book value reflecting decreased
profitability)

Same as on the left

3. Method for depreciation of
fixed assets(1) Tangible fixed assets (excluding lease(1) Tangible fixed assets (excluding leaseassets)assets)By straight-line depreciation method
Same as on the left
Period of depreciation for major items are as
follows:
Building
2 to 18 years
Equipment & fixtures
4 to 10 years(2) Intangible fixed assets (excluding lease(2) Intangible fixed assets (excluding leaseassets)assets)By straight-line depreciation method
Same as on the left
Software used by the Company are depreciatedbased on the availability period in the company(5 years)(3) Lease assets
Depreciation is calculated on the straightline method over the lease period as theuseful period, assuming no residual value.
Non-ownership-transfer finance leases thatcommenced prior to December 31, 2008 arehandled by the accounting procedure pursuant
to the method concerning ordinary leasetransactions.

(3) Lease assets
Same as on the left

4. Accounting method fordeferred assets

New share issuing expense
The full amount shall be handled as expenses
at the time of occurrence.

New share issuing expense
Same as on the left

5. Standards for converting
assets and liabilities inforeign currencies to yen.

Monetary debts and credits denominated inforeign currencies are exchanged to yen at the
spot exchange rate on the final day of the term,and exchange differences are handled as profit
or loss.

- 23 -

Same as on the left

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Item
6.Standards for provisions

Fiscal 2010 (January 1, 2010 to December 31,
2010)

Fiscal 2011 (January 1, 2011 to December 31,
2011)(1) Allowance for bad debt
For future loss due to bad debt, the amount of
no recoverable debt is estimated based on
historical rate for general credit and inspected
result for doubtful credit.
For this year, allowance for bad debt is notrecorded because there is no doubtful credit.

(1) Allowance for bad debt
Same as on the left

(2) Allowance for retirement benefits
It is accounted for based on an estimate ofretirement benefits liability as of the end of this (2) Allowance for retirement benefits
fiscal year for the purpose to provide forSame as on the left
payment of employees retirement benefits.
7. Cash in cash flow statement

The amount includes cash on hand, deposit
readily available upon call, and short-term
investments maturing within three months fromthe acquisition date that involve little risk ofprice fluctuations.

8. Other important mattersbasing the preparation offinancial statements

Accounting procedure for consumption tax
By tax-excluded method.

Same as on the left

Accounting procedure for consumption tax
Same as on the left

(7) Change in accounting method
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)──────────

(Application of accounting standard for asset retirement
obligations)
Effective from this fiscal year, the Company adopted new
accounting standards, “Accounting Standard for Asset
Retirement Obligations” (ASBJ statement No. 18, March 31,2008) and the “Guidance on Accounting Standard For Asset
Retirement Obligations” (ASBJ guidance No. 21, March 31,2008).
Due to this, operating loss and ordinary loss increased by 1,906
thousand yen and loss before tax and net loss increased by 7,238
thousand yen for the period. Also, fixed leasehold deposit andsecurity deposit in investments and other assets decreased by
5,331 thousand yen.

- 24 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(8) Changes in presentations
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)

Net sales were presented only in total until the previous fiscal
year. Beginning this fiscal year, product sales and rights income
are separately presented to clarify the breakdowns of net sales as
the Company started the sale of SyB L-0501. For reference,
there was no product sales and rights income was 1,191,127
thousand yen in the previous fiscal year.

──────────(9) Notes on financial statements(Balance sheet)
Fiscal 2010 (December 31, 2010)

Fiscal 2011 (December 31, 2011)

1. The Company has overdraft and commitment line contracts
with three banks in a business relationship to efficiently
procure working capital. Amounts of borrowing available
based on these contracts at the end of this fiscal year are as
follows:

1. The Company has overdraft and commitment line contracts
with three banks in a business relationship to efficiently
procure working capital. Amounts of borrowing available
based on these contracts at the end of this fiscal year are as
follows:

Total amount of overdraft limit
1,350,000 thousand
and commitment lineyen
Balance of borrowing outstanding-thousand yen

Total amount of overdraft limit
1,350,000 thousand
and commitment lineyen
Balance of borrowing outstanding-thousand yen

Net amount

1,350,000 thousandyen

Net amount- 25 -

1,350,000 thousandyenSymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Income statement)
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)*1 Of selling, general and administrative expense, selling
expenses account for 1.8% and general and administrative
expenses account for 98.2%.
Major components and their amounts are as follows:
Executive compensation
85,836 thousand
yen
Salaries and allowances
256,427 thousandyen
Retirement benefit expenses
638 thousand yen
Research and development
1,118,182 thousand
costyen
Depreciation
2,525 thousand yen*1 Of selling, general and administrative expense, selling
expenses account for 1.4% and general and administrative
expenses account for 98.6%.
Major components and their amounts are as follows:
Executive compensation
98,271 thousand
yen
Salaries and allowances
265,620 thousandyen
Retirement benefit expenses
713 thousand yen
Research and development
1,945,029 thousand
costyen
Depreciation
7,653 thousand yen*2 R&D spending is all included in general and administrative
expenses and the amount is 1,118,182 thousand yen.

*2 R&D spending is all included in general and administrative
expenses and the amount is 1,945,029 thousand yen.

*3 Breakdowns of loss on disposal of fixed assets are as follows:
Fixtures and equipment
132 thousand yen────────────────────

*4 Details of transfer to other accounts are as follows:
Selling, general and
1,981 thousand yen
administrative expenses(Statement of change in shareholders’ equity, etc.)
Fiscal 2010 (January 1, 2010 to December 31, 2010)
1. Type and number of issued shares
Number of shares at the
Increase during thisend of previous fiscal
fiscal year (shares)
year (shares)

Decrease during thisfiscal year (shares)

Number of shares at theend of this fiscal year
(shares)Issued shares
Common stock
Full year

100,651

11,086-

111,737

100,651

11,086-

111,737(Note) Increase of common stock issued by 11,086 shares is due to new stock issuance by third-party allotment.
2. Number and type of treasury stock
None to be reported.

- 26 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

3. Stock acquisition rights
Type of stock
as object ofClassificati Details of Stock acquisition
StockrightsonacquisitionrightsThe
Company

Stock acquisition rights
for stock options

Number of shares as object of Stock acquisition rights(shares)

Balance atthe end of
this fiscal
year(thousandyen)

End ofprevious fiscal
year

Increase

Decrease

End of thisfiscal year

-

-

-

-

-

-

-

-

-

-

-

Full year(Note) Type and number of shares as object of above-mentioned Stock acquisition rights are described in “Stock options.”
4. Dividends
None to be reported.
Fiscal 2011 (January 1, 2011 to December 31, 2011)
1. Type and number of issued and treasury shares
Number of shares at theend of previous fiscal
year (shares)

Number of shares at theend of this fiscal year
(shares)

Increase during thisfiscal year (shares)

Decrease during thisfiscal year (shares)

111,737

19,019,163-

19,130,900

111,737

19,019,163-

19,130,900

-

75

-

75

-

75

-

75

Issued shares
Common stock (note 1)
Full year
Treasury shares
Common stock (note 2)
Full year(Note) 1. Increase in number of shares outstanding of common stock by 19,019,163 shares is due to an increase of 28,572 shares by
third-party allotment, an increase of 5,100,000 shares by new stock issuance by offering, and an increase of 13,890,591
shares by 100-for-1 stock split as at June 2, 2011.
2. Increase in number of treasury shares of common stock by 75 shares is due to the purchase of fractional shares.

2. Stock acquisition rights
Type of stock
Classificat Details of Stock acquisition as object ofStockrightsion
acquisitionrightsThe
Company

Stock acquisition rights
for stock options

Full year-

Number of shares as object of Stock acquisition rights(shares)

Balance atthe end of
this fiscal
year(thousandyen)

end ofprevious fiscal
year

increasedecrease

End of thisfiscal year

-

-

-

-

-

-

-

-

-

-

(Note) Type and number of shares as object of above-mentioned Stock acquisition rights are described in “Stock options.”
3. Dividends
None to be reported.

- 27 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Cash flow statements)
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)*Relationship between cash and cash equivalents and theamounts of items on balance sheet(As of December 31, 2010)(Thousand yen)
Cash and deposits
2,314,484
Marketable securities
1,701,323
Debt with the maturity of(100,043)
longer than 3 months*Relationship between cash and cash equivalents and theamounts of items on balance sheet(As of December 31, 2011)

Cash and cash equivalents

Cash and cash equivalents

3,915,765

Cash and deposits
Marketable securities
Debt with the maturity of
longer than 3 months- 28 -(Thousand yen)
4,558,714
1,952,533(200,270)
6,310,978

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Lease transactions)Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)

Finance lease transactions other than those in which theownership of the lease property transfers to the borrower
1. Amounts equivalent to original cost, accumulated
depreciation, accumulated impairment loss, and endingbalance of leased properties
AmountAmountAmountequivalentequivalentequivalent
tototo ending
accumulatedacquisition
balancedepreciation
cost(thousand(thousand(thousand
yen)
yen)
yen)

Finance lease transactions other than those in which theownership of the lease property transfers to the borrower
1. Amounts equivalent to original cost, accumulated
depreciation, accumulated impairment loss, and endingbalance of leased properties
AmountAmountAmountequivalentequivalentequivalent
tototo ending
accumulatedacquisition
balancedepreciation
cost(thousand(thousand(thousand
yen)
yen)
yen)

Fixtures andequipment

2,415

2,314

100

Fixtures andequipment---

Software22,66021,323

1,337

Software---25,07523,637

1,437

-

-

-

Full year

Full year

2. Amount equivalent to balance at end of term for unexpired
lease payments
Within 1 year
1,547 thousand yen
Longer than 1 year
- thousand yen
Full year

2. Amount equivalent to balance at end of term for unexpired
lease payments
Within 1 year
Longer than 1 year

1,547 thousand yen

Full year

3. Paid lease payments, amounts equivalent to depreciation andinterest payment, and impairment loss
Paid lease payments
6,533 thousand yen
Amount equivalent to6,003 thousand yen
depreciation
Amount equivalent to
169 thousand yeninterest payment-thousand yen-thousand yen-thousand yen

3. Paid lease payments, amounts equivalent to depreciation andinterest payment, and impairment loss
Paid lease payments
1,561 thousand yen
Amount equivalent to1,437 thousand yen
depreciation
Amount equivalent to
14 thousand yeninterest payment

4. Method of calculation the amount equivalent to depreciation
4. Method of calculation the amount equivalent to depreciation
By straight-line depreciation method with the residual value
Same as on the left
as zero and the lease period as the period of depreciation.
5.Method for calculating the amount equivalent to interest
By interest method with respect to the method of allocation
to each term, with the difference between the total amount oflease payments and the amount equivalent to the original costof the lease properties as the amount equivalent to interest.

5.Method for calculating the amount equivalent to interest
Same as on the left

(Impairment loss)
There are no impairment losses allocated to lease assets.

(Impairment loss)
Same as on the left

(Note) Non-ownership-transfer finance leases that had commenced prior to the first accounting period when lease accounting was
adopted are handled by the accounting procedure pursuant to the method concerning ordinary lease transactions.

- 29 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Financial instruments)
Fiscal 2010 (January 1, 2010 to December 31, 2010)
1. Situation of financial instruments(1) Policies relating to financial instruments
The Company procures the funds necessary in light of the pipeline development plan (primarily by third-party
allotment). Temporary surplus fund is invested on financial instruments which are highly safe and liquid.
(2) Description of financial instruments and their risks
Accounts receivable and advance related to joint development, both operating receivables, are exposed to the credit
risks of customers and joint development partners. Operating receivables denominated in foreign currencies suffer
foreign exchange fluctuation risks.
The Company intends to select marketable securities which have relative low risk for falling below par. However, it
might carry a finite risk.
Most of trade accounts payable and other accounts payable, both operating payables, are due within two months.
Operating payables denominated in foreign currencies suffer foreign exchange fluctuation risks.
Most of fixed leasehold deposit and security deposit are security deposits related to rented offices and their redemption
is subject to the credit risk of the lessees.
(3) Risk control structure for financial instruments
1. Control of credit risk (the risk of contractual default by business partners)
Regarding operating receivables, the Company’s sales department regularly monitors the conditions of major
business partners and tracks the due date and balance by account according to the credit administration rule so as toswiftly detect the possibility of bad debts due to deteriorating financial conditions and reduce their adverse impacts.
2. Control of market risk (fluctuations risks of foreign exchange and interest rates)
The Company deposits money primarily in financial institutions with high credit ratings.
The Company attempts to avoid risk of marketable securities falling below par by selecting those with certain higher
ratings and investment period in accordance with the Company’s fund management rule.
Operating receivables and payables denominated in foreign currencies are settled at the spot exchange upon receipt
and payment because more risks are involved in carrying deposits in foreign currencies considering the frequency ofoccurrence.
(3) Control of liquidity risk related to fund procurement
The Company manages liquidity risk by the department in charge formulating and revising the cash management
plan in a timely manner based on the reports from other departments.
(4) Supplemental explanation related to fair market values of financial instruments
Fair market values of financial instruments include the value based on market price and also reasonably estimatedprice. Fluctuations are factored in the calculation of fair market valued. As such, they may vary by using different
assumptions.

- 30 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

2. Matters related to fair market values of financial instruments
Book values on balance sheet, fair market values, and their differences as at December 31, 2010 are as follows:Book values on balance sheet Fair market values (thousand
Differences (thousand yen)(thousand yen)
yen)(1) Cash and deposit

2,314,484

2,314,484-(2) Accounts receivable

5,934

5,934

-

(3) Marketable securities

1,701,323

1,701,323-(4) Advance

86,081

86,081-

Total assets

4,107,824

4,107,824-(1) Trade accounts payable

1,168

1,168

-

(2) Other accounts payable

124,323

124,323-(3) Income taxes payable

10,702

10,702-(4) Accrued consumption tax

8,107

8,107

-

144,301

144,301

-

-

-

-

Total liabilities
Total derivative transactions(Note) 1. Method of calculating fair market values of financial instruments and matters related to marketable securities and derivativetransactions
Assets(1) Cash and deposit, (2) Accounts receivable, (4) Advance
These items are settled in a relatively short term and fair market values are nearly equal to book values; hence, book values
are used.
(3) Marketable securities
The price of bonds is based on that indicated by financial institutions. Refer to “Note on marketable securities” for notes onmarketable securities by the purpose of holding.
Liabilities(1) Trade accounts payable, (2) Other accounts payable, (3) Corporate tax payable, (4) Accrued consumption tax
These items are settled in a relatively short term and fair market values are nearly equal to book values; hence, book values
are used.
Derivative transactions
Refer to “Notes on derivative transactions.”(Note) 2. Items with difficulty to assess fair market values
No market price exists for fixed leasehold deposit and security deposit (the book value on balance sheet is 27,282 thousandyen) and it is deemed difficult to assess fair market value; hence, it is not included in the table above.
(Note) 3. Redemption schedule of monetary credits and marketable securities with maturity after the closing date.

- 31 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Within 1 year
(thousand yen)
Cash and deposit

Longer than 1 year Longer than 5 year
Longer than 10
and shorter than 5 and shorter than 10
years (thousand yen)
years (thousand yen) years (thousand yen)

2,314,458

-

-

-

5,934

-

-

-

(1) Bonds

100,000---(2) Other

1,601,280---

Advance

86,081---

4,107,755---

Accounts receivable
Marketable securities
Other marketable securities with maturity

Full year

Additional information
Effective from this fiscal year, “Accounting Standard for Financial Instruments” (ASBJ Statement No. 10, March 10,2008) and “Guidance on Accounting Standard for Financial Instruments and Related Disclosures” (ASBJ Guidance No.
19, March 10, 2008) are applied.
Fiscal 2011 (January 1, 2011 to December 31, 2011)
1. Situation of financial instruments(1) Policies relating to 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 on financial instruments which arehighly safe and liquid.
(2) Description of financial instruments and their risks
Accounts receivable and advance related to joint development, both operating receivables, are exposed to the credit
risks of customers and joint development partners. Operating receivables denominated in foreign currencies suffer
foreign exchange fluctuation risks.
The Company intends to select marketable securities which have relative low risk for falling below par. However, it
might carry a finite risk.
Most of trade accounts payable and other accounts payable, both operating payables, are due within two months.
Operating payables denominated in foreign currencies suffer foreign exchange fluctuation risks.
Most of fixed leasehold deposit and security deposit are security deposits related to rented offices and their redemption
is subject to the credit risk of the lessees.
The lease obligation related to the finance lease transaction intends for funding and the redemption date is 5 years fromthe fiscal yearend as a maximum.
(3) Risk control structure for financial instruments
1. Control of credit risk (the risk of contractual default by business partners)
Regarding operating receivables, the Company’s marketing department regularly monitors the conditions of major
business partners and tracks the due date and balance by account according to the credit administration rule so as toswiftly detect the possibility of bad debts due to deteriorating financial conditions and reduce their adverse impacts.
2. Control of market risk (fluctuations risks of foreign exchange and interest rates)
The Company deposits money primarily in financial institutions with high credit ratings.
The Company attempts to avoid risk of marketable securities falling below par by selecting those with certain higher
ratings and investment period in accordance with the Company’s fund management rule.

- 32 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Operating receivables and payables denominated in foreign currencies are settled at the spot exchange upon receipt
and payment because more risks are involved in carrying deposits in foreign currencies considering the frequency ofoccurrence.
(3) Control of liquidity risk related to fund procurement (risk of insolvency on the payment date)
The Company manages liquidity risk by the department in charge formulating and revising the cash management
plan in a timely manner based on the reports from other departments.
(4) Supplemental explanation related to fair market values of financial instruments
Fair market values of financial instruments include the value based on market price and also reasonably estimatedprice. Fluctuations are factored in the calculation of fair market valued. As such, they may vary by using different
assumptions.
2. Matters related to fair market values of financial instruments
Book values on balance sheet, fair market values, and their differences as at December 31, 2011 are as follows:Book values on balance sheet Fair market values (thousand
Differences (thousand yen)(thousand yen)
yen)(1) Cash and deposit

4,558,714

4,558,714-(2) Accounts receivable

162,409

162,409-(3) Marketable securities

1,952,533

1,952,533-(4) Advance

124,589

124,589(5) Refundable consumption tax

69,571

69,571-

6,867,818

6,867,818-

308,953

308,953

-

719

719

-

(3) Other accounts payable

277,898

277,898-(4) Income taxes payable

19,073

19,073-(5) Lease obligations (long-term)

2,691

2,691

-

609,336609,336

-

-

-

-

Total assets(1) Trade accounts payable(2) Lease obligations (short-term)

Total liabilities
Total derivative transactions(Note) 1. Method of calculating fair market values of financial instruments and matters related to marketable securities and derivativetransactions
Assets(1) Cash and deposit, (2) Accounts receivable, (4) Advance, (5) Refundable consumption tax
These items are settled in a relatively short term and fair market values are nearly equal to book values; hence, book values
are used.
(3) Marketable securities
The price of bonds is based on that indicated by financial institutions. Refer to “Note on marketable securities” for notes onmarketable securities by the purpose of holding.
Liabilities(1) Trade accounts payable, (3) Other accounts payable, (4) Corporate tax payable
These items are settled in a relatively short term and fair market values are nearly equal to book values; hence, bookvalues are used.
(2) Lease obligations (short-term), (5) Lease obligations (long-term)
The market value is used the book value because the amount should be close to the book value under the assumption which is
calculated based on the present value discounted with the assumed interest rate for the new lease contract of the principal amount.
Derivative transactions- 33 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Refer to “Notes on derivative transactions.”(Note) 2. Items with difficulty to assess fair market values
No market price exists for fixed leasehold deposit and security deposit (the book value on balance sheet is 23,264 thousandyen) and it is deemed difficult to assess fair market value; hence, it is not included in the table above.
(Note) 3. Redemption schedule of monetary credits and marketable securities with maturity after the closing date.
Within 1 year
(thousand yen)

Longer than 1 year Longer than 5 year
Longer than 10
and shorter than 5 and shorter than 10
years (thousand yen)
years (thousand yen) years (thousand yen)

Cash and deposit

4,558,543---

Accounts receivable

162,409---(1) Bonds

200,000---(2) Other

1,752,263---

Advance

124,589---

6,797,976---

Marketable securities
Other marketable securities with maturity

Full year(Note) 4. Repayment schedule for the lease obligation after 2011 year-end.
Over 2 years
within3 years（Thousandyen）Over 3 years
within4 years（Thousandyen）Over 4 years
within5 years（Thousandyen）Over 5 years（Thousand
yen）

－

－

－

－

－

－

673

682

692

642

－

719

673

682

692

642

－

Within one
year（Thousandyen）Over one year
within 2 years（ThousandLease obligations（Short-term）

719

Lease obligations（Long-term）
Total

yen）

- 34 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(Marketable securities)
Fiscal 2010 (as of December 31, 2010)
1. Other marketable securities
TypeBook values on balance
sheet (thousand yen)

Marketable securitiesof which book value(1) Stockdoes not exceed theoriginal cost

Original cost (thousand
Differences (thousand yen)
yen)

-

-

-

-

-

-

(ii) Bonds

100,043

100,061-18(iii) Other

-

-

-

(3) Other

1,601,280

1,601,280-

1,701,323

1,701,342-18(2) Bond(i) Government bond andmunicipal bondFull year

2. Other marketable securities disposed of during this fiscal year (January 1, 2010 to December 31, 2010)
Type

Total amount of gain on disposal Total amount of loss on disposal(thousand yen)(thousand yen)

Disposal price (thousand yen)

(1) Stock

-

-

-

-

-

-

-

-

-

(iii) Other

-

-

-

(3) Other

117,491-

7,926

117,491-7,926(2) Bond(i) Government bond andmunicipal bond(ii) Bonds

Full year(Derivatives trading)Fiscal 2011 (as of December 31, 2011)
1. Other marketable securities
TypeBook values on balance
sheet (thousand yen)

Marketable securitiesof which book value(1) Stockdoes not exceed theoriginal cost

Original cost (thousand
Differences (thousand yen)
yen)

-

-

-

-

-

-

(ii) Bonds

200,270

200,816-546(iii) Other

-

-

-

(3) Other

1,752,263

1,752,263-

1,952,533

1,953,079-546(2) Bond(i) Government bond andmunicipal bondFull year- 35 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

2. Other marketable securities disposed of during this fiscal year (January 1, 2011 to December 31, 2011)
None to be reported(Derivative transactions)Fiscal 2010 (January 1, 2010 to December 31, 2010)
None to be reported because the Company does not engage in any derivative transactions.
Fiscal 2011 (January 1, 2011 to December 31, 2011)
None to be reported because the Company does not engage in any derivative transactions.
(Retirement benefits)
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)

1. Outline of retirement benefit plans
The Company has an advance payment plan (defined benefit
pension) and defined contribution pension plan.

1. Outline of retirement benefit plans
Same as on the left

2. Matters related to liability for retirement benefits (as ofDecember 31, 2010)(i) Liability for retirement(1,835) thousand yen
benefits

2. Matters related to liability for retirement benefits (as ofDecember 31, 2011)(i) Liability for retirement
benefits(2,092) thousand yen(ii) Allowance for retirement
benefits( (i) )(ii) Allowance for retirement
benefits( (i) )(2,092) thousand yen(1,835) thousand yen(Note) The simple method (the payment required for voluntary
retirement at the end of this fiscal year) is adopted for
calculating liability for retirement benefits.

(Note) The simple method (the payment required for voluntary
retirement at the end of this fiscal year) is adopted for
calculating liability for retirement benefits.

3. Matters related to retirement benefit expenses(i) Service cost
268 thousandyen(ii) Premium paid for defined
1,151 thousand
contribution pensionyen

3. Matters related to retirement benefit expenses(ii) Premium paid for defined
contribution pension

395 thousand
yen
1,355 thousandyen(iii) Retirement benefit expenses ( (i)+(ii) )

(iii) Retirement benefit expenses ( (i) +(ii) )

1,750 thousandyen(i) Service cost

1,419 thousandyen

4. Matters related to the basis for calculating liability for
retirement benefits
There is no description about actuarial assumptions because thesimple method is adopted.

4. Matters related to the basis for calculating liability for
retirement benefits
Same as on the left

(Stock options)Fiscal 2010 (January 1, 2010 to December 31, 2010)
1. Amount expensed and item of an account related to stock options during this fiscal year
Stock options are not expensed because their intrinsic value per unit is estimated to be zero as the Company isunlisted.

- 36 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

2. Content and scope of stock options and their changes(1) Content of stock options
1st grant

2nd grant

Classification and number of
persons granted

The Company’s directors
3
The Company’s auditor
1
The Company’s employees 6
Collaborators
12
Total
22

Collaborator 1

Number of options by type ofstock (note)

Common stock 3,900 shares

Common stock 20 shares

Date of grant

June 20, 2005

June 22, 2005

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From June 21, 2007 to June 20, 2015

From June 23, 2007 to June 22, 2015

(Note) Converted to the number of shares.
3rd Grant

4th Grant

Classification and number of
persons granted

The Company’s employee 1

Number of options by type ofstock (note)

Common stock 100 shares

Common stock 470 shares

Date of grant

June 27, 2005

December 1, 2005

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From June 21, 2007 to June 20, 2015

From December 2, 2007 to September 1, 2015

(Note) Converted to the number of shares.

- 37 -The Company’s employees 7

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

5th Grant

6th Grant

Classification and number of
persons granted

The Company’s director 1
The Company’s employees 16
Collaborator 1
Total 18

The Company’s auditor 1
The Company’s employees 3
Collaborators 6
Total 10

Number of options by type ofstock (note)

Common stock 1,170 shares

Common stock 450 shares

Date of grantJanuary 31, 2006

April 18, 2006

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From February 1, 2008 to September 1, 2016

From April 19, 2008 to March 30, 2016

(Note) Converted to the number of shares.
7th Grant

8th grant

Classification and number of
persons granted

The Company’s directors 6
The Company’s auditors 2
The Company’s employees 16
Collaborators 9
Total 33

The Company’s employees 6
Collaborators 5
Total 11

Number of options by type ofstock (note)

Common stock 2,000 shares

Common stock 520 shares

Date of grant

July 1, 2006

December r, 2006

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From July 2, 2008 to March 30, 2015

From December 2, 2008 to March 30, 2016

(Note) Converted to the number of shares.

- 38 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

9th grant

10th Grant

Classification and number of
persons granted

The Company’s directors 3
The Company’s auditors 2
Total 5The Company’s employees 24

Number of options by type ofstock (note)

Common stock 660 shares

Common stock 510 shares

Date of grantFebruary 1, 2007

February 1, 2007

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From January 24, 2009 to January 23, 2017

From June 21, 2007 to June 20, 2015

(Note) Converted to the number of shares.
11th grant

12th grantClassification and number of
persons granted

The Company’s employees 6
Collaborators 3
Total 9The Company’s directors 5
The Company’s auditor 1
Total 6

Number of options by type ofstock (note)

Common stock 340 shares

Common stock 820 shares

Date of grant

March 15, 2007

August 29, 2007

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From March 3, 2009 to March 2, 2017

From August 29, 2009 to August 28, 2017

(Note) Converted to the number of shares.

- 39 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

13th grant

14th grantClassification and number of
persons granted

The Company’s employees 33
Collaborators 12
Total 45

The Company’s directors 5
The Company’s auditor 1
Total 6

Number of options by type ofstock (note)

Common stock 1,700 shares

Common stock 2,070 shares

Date of grantAugust 29, 2007

October 1, 2008

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From August 29, 2009 to August 28, 2017

From October 1, 2010 to September 30, 2018

(Note) Converted to the number of shares.
15th grantClassification and number of
persons granted

16th grant

The Company’s employees 40

Collaborators 14

Number of options by type ofstock (note)

Common stock 2,045 shares

Common stock 850 shares

Date of grant

October 1, 2008

October 1, 2008

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From October 1, 2010 to September 30, 2018

From October 1, 2010 to September 30, 2018

(Note) Converted to the number of shares.

- 40 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

17th grant

18th Grant

Classification and number of
persons granted

The Company’s directors 3
The Company’s auditor 1
Total 4The Company’s employees 45

Number of options by type ofstock (note)

Common stock 720 shares

Common stock 1,150 shares

Date of grant

March 18, 2009

March 18, 2009

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From March 19, 2011 to March 18, 2019

From March 19, 2011 to March 18, 2019

(Note) Converted to the number of shares.
19th Grant

20th grantClassification and number of
persons granted

Collaborators 2

The Company’s directors 6
The Company’s auditor 1
Total 7

Number of options by type ofstock (note)

Common stock 125shares

Common stock 3,610 shares

Date of grant

March 18, 2009

March 31, 2010

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From March 19, 2011 to March 18, 2019

From April 1, 2012 to March 31, 2020

(Note) Converted to the number of shares.

- 41 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

21st Grant

22nd grantClassification and number of
persons granted

The Company’s employees 50

Number of options by type ofstock (note)

Common stock 3,265 shares

Common stock 1,530 shares

Date of grant

March 31, 2010

March 31, 2010

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From April 1, 2012 to March 31, 2020

From April 1, 2012 to March 31, 2020

(Note) Converted to the number of shares.
23rd grantClassification and number of
persons granted

The Company’s employees 9

Number of options by type ofstock (note)

Common stock 320 shares

Date of grant

October 15, 2010

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Period for the exercise of
options

From October 15, 2012 to October 14, 2020

(Note) Converted to the number of shares.

- 42 -

Collaborators 13

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(2) Scope of stock options and its changes
1. Number of options by type of stock
Date of grant

1st grant

2nd grant

3rd Grant

4th Grant

June 20, 2005

June 22, 2005

June 27, 2005

December 1, 2005

Non-vested
Outstanding at
beginning of year
(shares)

3,610

20

-

50

Granted (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Vested (shares)

-

-

-

-

3,610

20

-

50

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

-

-

-

-

Exercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Outstanding at endof year (shares)

-

-

-

-

Outstanding at endof year (shares)
VestedDate of grant

5th Grant

6th Grant

7th Grant

8th grant

January 31, 2006

April 18, 2006

July 1, 2006

December 4, 2006

Non-vested
Outstanding at
beginning of year
(shares)

845

130

1,560

250

Granted (shares)

-

-

-

-

Expired (shares)

-

-

-

60

Vested (shares)

-

-

-

-

Outstanding at endof year (shares)

845

130

1,560

190

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

-

-

-

-

VestedExercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Outstanding at endof year (shares)

-

-

-

-

- 43 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Date of grant

9th grant

10th Grant

11th grant

12th grantFebruary 1, 2007

February 1, 2007

March 15, 2007

August 29, 2007

Non-vested
Outstanding at
beginning of year
(shares)

540

245

300

730

Granted (shares)

-

-

-

-

Expired (shares)

-

5

-

-

Vested (shares)

-

-

-

-

Outstanding at endof year (shares)

540

240

300

730

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

-

-

-

-

VestedExercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Outstanding at endof year (shares)

-

-

-

-

13th grant

14th grant

15th grant

16th grantAugust 29, 2007

October 1, 2008

October 1, 2008

October 1, 2008

Outstanding at
beginning of year
(shares)

1,270

1,870

1,785

850

Granted (shares)

-

-

-

-

Expired (shares)

50

-

315

-

Vested (shares)

-

-

-

-

1,220

1,870

1,470

850

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

-

-

-

-

Exercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Outstanding at endof year (shares)

-

-

-

-

Date of grantNon-vested

Outstanding at endof year (shares)
Vested- 44 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Date of grant

17th grant

18th Grant

19th Grant

20th grant

March 18, 2009

March 18, 2009

March 18, 2009

March 31, 2010

Non-vested
Outstanding at
beginning of year
(shares)

710

1,045

125

-

Granted (shares)

-

-

-

3,610

Expired (shares)

-

210

-

-

Vested (shares)

-

-

-

-

Outstanding at endof year (shares)

710

835

125

3,610

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

-

-

-

-

VestedExercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Outstanding at endof year (shares)

-

-

-

-

Date of grant

21st Grant

22nd grant

23rd grant

March 31, 2010

March 31, 2010

October 15, 2010

Non-vested
Outstanding at
beginning of year
(shares)---

Granted (shares)

3,265

1,530

320

Expired (shares)

270

-

-

Vested (shares)

-

-

-

2,995

1,530

320

Outstanding at
beginning of year
(shares)---

Vested (shares)

-

-

-

Exercised (shares)

-

-

-

Expired (shares)

-

-

-

Outstanding at endof year (shares)

-

-

-

Outstanding at endof year (shares)
Vested- 45 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

2. Unit price information
1st grant
Date of grant
Exercise price (yen)

2nd grant

June 20, 2005

3rd Grant

June 22, 2005

4th Grant

June 27, 2005

December 1, 2005

50,00050,00050,000100,000

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

-

-

-

-

Date of grant
Exercise price (yen)5th Grant

6th Grant

January 31, 2006

April 18, 2006

7th Grant

8th grant

July 1, 2006

December 4, 2006

100,000

100,000

150,000

150,000

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

-

-

0

0

Date of grant
Exercise price (yen)

9th grant

10th Grant

11th grant

12th grantFebruary 1, 2007

February 1, 2007

March 15, 2007

August 29, 2007

150,000

150,000

150,000

150,000

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

Date of grant
Exercise price (yen)13th grant

14th grant

15th grant

16th grantFebruary 29, 2007

October 1, 2008

October 1, 2008

October 1, 2008

150,000

120,000

120,000

120,000

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

Date of grant
Exercise price (yen)17th grant

18th Grant

19th Grant

20th grant

March 18, 2009

March 18, 2009

March 18, 2009

March 31, 2010

120,000

120,000

120,000

60,000

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

Date of grant
Exercise price (yen)21st Grant

22nd grant

23rd grant

March 31, 2010

March 31, 2010

October 15, 2010

60,00060,00060,000

Average stock price at the timeof exercise (yen)

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

- 46 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

3. Method for estimating the fair appraisal price of stock options
The fair appraisal price of stock options that were granted in the 20th, 21st, 22nd, and 23rd Grant during this fiscal
year is calculated based on their intrinsic value per unit.
Date of grantMethod for appraisal of stock

March 31, 2010

March 31, 2010

March 31, 2010

October 15, 2010

Discounted cash flow
(DCF)

Same as on the left

Same as on the left

Same as on the left

Aggregate of the intrinsic valueof stock options outstanding at
the end of this fiscal year (yen)

0

0

0

0

Aggregate of the intrinsic valueof stock options exercised
during this fiscal year at the dateof exercise (yen)

-

-

-

-

Fiscal 2011 (January 1, 2011 to December 31, 2011)
1. Amount expensed and item of an account related to stock options during this fiscal year
Stock options are not expensed because their intrinsic value per unit is estimated to be zero at the end of this fiscal
year.
2. Content and scope of stock options and their changes(1) Content of stock options
1st grant

2nd grant

Classification and number of
persons granted

The Company’s directors 3
The Company’s auditor 1
The Company’s employees 6
Collaborators 12
Total 22

Collaborator 1

Number of options by type ofstock (note)

Common stock 390,000 shares

Common stock 2,000 shares

Date of grant

June 20, 2005

June 22, 2005

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From June 21, 2007 to June 20, 2015

From June 23, 2007 to June 22, 2015

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 47 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

3rd Grant

4th Grant

Classification and number of
persons granted

The Company’s employee 1

The Company’s employees 7

Number of options by type ofstock (note)

Common stock 10,000 shares

Common stock 47,000 shares

Date of grant

June 27, 2005

December 1, 2005

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From June 21, 2007 to June 20, 2015

From December 2, 2007 to September 1, 2015

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

5th Grant
The Company’s director 1

Classification and number of The Company’s employees 1 6
persons granted
Collaborator 1
Total 18

Number of options by type ofCommon stock 117,000 sharesstock (note)
Date of grantJanuary 31, 2006

Conditions for vesting

6th Grant
The Company’s auditor 1
The Company’s employees 3
Collaborators 6
Total 10
Common stock 45,000 shares
April 18, 2006

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for the Service period required for the eligibility is not
eligibility
designated.
Period for the exercise of From February 1, 2007 to September 1, 2015
options

Same as on the left
From April 19, 2008 to March 30, 2016

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 48 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

7th Grant

8th grant

Classification and number of
persons granted

The Company’s directors 6
The Company’s auditors 2
The Company’s employees 16
Collaborators 9
Total 33

The Company’s employees 6
Collaborators 5
Total 11

Number of options by type ofstock (note)

Common stock 200,000 shares

Common stock 52,000 shares

Date of grant

July 1, 2006

December 4, 2006

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From July 2, 2008 to March 30, 2016

From December 2, 2008 to March 30, 2016

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
9th grant

10th Grant

The Company’s directors 3

Classification and number of
The Company’s auditors 2
persons granted

The Company’s employees 24

Total 5

Number of options by type ofCommon stock 66,000 sharesstock (note)
Date of grantFebruary 1, 2007

Conditions for vesting

Common stock 51,000 shares
February 1, 2007

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for the Service period required for the eligibility is not
eligibility
designated.
Period for the exercise of From January 24, 2009 to January 23, 2017
options

Same as on the left
From January 24, 2009 to January 23, 2017

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 49 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

11th grant

12th grantClassification and number of
persons granted

The Company’s employees 6
Collaborators 3
Total 9The Company’s directors 5
The Company’s auditor 1
Total 6

Number of options by type ofstock (note)

Common stock 34,000 shares

Common stock 82,000 shares

Date of grant

March 15, 2007

August 29 1, 2007

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From August 29, 2009 to August 28, 2017

From August 29, 2009 to August 28, 2017

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
13th grant

14th grantClassification and number of
persons granted

The Company’s employees 33
Collaborators 12
Total 45

The Company’s directors 5
The Company’s auditor 1
Total 6

Number of options by type ofstock (note)

Common stock 170,000 shares

Common stock 207,000 shares

Date of grantAugust 29, 2007

October 1, 2008

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From August 29, 2009 to August 28, 2017

From October 1, 2010 to September 30, 2018

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 50 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

15th grantClassification and number of
persons granted

16th grant

The Company’s employees 40

Collaborator 14

Number of options by type ofstock (note)

Common stock 204,500 shares

Common stock 85,000 shares

Date of grant

October 1, 2008

October 1, 2008

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From October 1, 2010 to September 30, 2018

From October 1, 2010 to September 30, 2018

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
17th grant
The Company’s directors 3
Classification and number of
The Company’s auditor 1
persons granted
Total 4

Number of options by type ofCommon stock 72,000 sharesstock (note)
Date of grant
March 18, 2009

Conditions for vesting

18th Grant
The Company’s employees 45
Common stock 115,000 shares
March 18, 2009

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for the Service period required for the eligibility is not
eligibility
designated.
Period for the exercise of From March 19, 2011 to March 18, 2019
options

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

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 51 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

19th Grant

20th grantClassification and number of
persons granted

Collaborator 2

The Company’s directors 6
The Company’s auditor 1
Total 7

Number of options by type ofstock (note)

Common stock 12,500 shares

Common stock 361,000 shares

Date of grant

March 18, 2009

March 31, 2010

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From March 19, 2011 to March 18, 2019

From April 1, 2012 to March 31, 2020

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
21st Grant

22nd grantClassification and number of
persons granted

The Company’s employees 50

Collaborator 13

Number of options by type ofstock (note)

Common stock 326,500 shares

Common stock 153,000 shares

Date of grant

March 31, 2010

March 31, 2010

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Same as on the left

Period for the exercise of
options

From April 1, 2012 to March 31, 2020

From April 1, 2012 to March 31, 2020

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 52 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

23rd grant

24th grantClassification and number of
persons granted

The Company’s employees 9

The Company’s directors 5

Number of options by type ofstock (note)

Common stock 32,000 shares

Common stock 192,000 shares

Date of grant

October 15, 2010

March 31, 2011

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
Same as on the left
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Service period required for the eligibility is notdesignated.

Period for the exercise of
options

From October 15, 2012 to October 14, 2020

From March 31, 2013 to March 30, 2021

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
25th grantClassification and number of
persons granted

The Company’s employees 59

Number of options by type ofstock (note)

Common stock 195,000 shares

Date of grant

March 31, 2011

Conditions for vesting

1. The persons granted must be in a status of
the Company’s director, auditor, advisor,or employee at the time of exercise.
However, this is not necessarily the case if
the person granted retires due to the expiryof her/his term or the compulsory
retirement, if otherwise the board of
directors approves, or if the person
granted is a collaborator.
2. The Company’s stock must be listed on astock exchange.

Service period required for theeligibility

Service period required for the eligibility is notdesignated.

Period for the exercise of
options

From March 31, 2013 to March 30, 2021

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 53 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011(2) Scope of stock options and its changes
1. Number of options by type of stock
Date of grant

1st grant

2nd grant

3rd Grant

4th Grant

June 20, 2005

June 22, 2005

June 27, 2005

December 1, 2005

Non-vested
Outstanding at
beginning of year
(shares)

361,000

2,000

-

5,000

Granted (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Vested (shares)

361,000

2,000

-

5,000

-

-

-

-

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

361,000

2,000

-

5,000

-

-

-

-

-

-

-

-

361,000

2,000

-

5,000

Outstanding at endof year (shares)
VestedExercised (shares)
Expired (shares)
Outstanding at endof year (shares)(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

Date of grant

5th Grant

6th Grant

7th Grant

8th grant

January 31, 2006

April 18, 2006

July 1, 2006

December 4, 2006

Non-vested
Outstanding at
beginning of year
(shares)

84,50013,000156,000

19,000Granted (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Vested (shares)

84,50013,000156,000

19,000----

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

84,50013,000156,000

19,000----

Outstanding at endof year (shares)
VestedExercised (shares)
Expired (shares)
Outstanding at endof year (shares)

-

-

-

-

84,50013,000156,000

19,000(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 54 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Date of grant

9th grant

10th Grant

11th grant

12thst grantFebruary 1, 2007

February 1, 2007

March 15, 2007

August 29, 2007

Non-vested
Outstanding at
beginning of year
(shares)

54,00024,000Granted (shares)

-

-

-

-

Expired (shares)

-

-

5,000

-

Vested (shares)

54,00024,00025,00073,000----

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

54,00024,00025,00073,000

Outstanding at endof year (shares)

30,00073,000

VestedExercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

54,00024,00025,00073,000

Outstanding at endof year (shares)(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

Date of grant

13th grant

14th grant

15th grant

16th grantAugust 29, 2007

October 1, 2008

October 1, 2008

October 1, 2008

Non-vested
Outstanding at
beginning of year
(shares)

122,000

187,000

Granted (shares)

-

-

-

-

Expired (shares)

1,000

-

8,000

-

Vested (shares)

121,000

187,000

139,000

85,000----

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

121,000

187,000

139,000

85,000

Outstanding at endof year (shares)

147,000

85,000

VestedExercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

121,000

187,000

139,000

85,000

Outstanding at endof year (shares)(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 55 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Date of grant

17th
grant

18th Grant

19th Grant

20th grant

March 18, 2009

March 18, 2009

March 18, 2009

March 31, 2010

Non-vested
Outstanding at
beginning of year
(shares)

71,00083,50012,500361,000

Granted (shares)

-

-

-

-

Expired (shares)

-

3,500

-

-

Vested (shares)

71,00080,00012,500----361,000

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

71,00080,00012,500

-

-

-

-

-

Outstanding at endof year (shares)
VestedExercised (shares)
Expired (shares)
Outstanding at endof year (shares)

-

-

-

-

71,00080,00012,500-(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

Date of grant

21st Grant

22nd grant

23rd grant

24th grant

March 31, 2010

March 31, 2010

October 15, 2010

March 31, 2011Non-vested
Outstanding at
beginning of year
(shares)299,500

153,000

32,000-Granted (shares)

-

-

-

192,000

Expired (shares)

23,000---

Vested (shares)

-

-

-

-

276,500

153,000

32,000

192,000

Outstanding at
beginning of year
(shares)

-

-

-

-

Vested (shares)

-

-

-

-

Exercised (shares)

-

-

-

-

Expired (shares)

-

-

-

-

Outstanding at endof year (shares)

-

-

-

-

Outstanding at endof year (shares)
Vested(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 56 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

25th grant
Date of grant

March 31, 2011Non-vested
Outstanding at
beginning of year
(shares)-

Granted (shares)

195,000

Expired (shares)

3,000

Vested (shares)-

Outstanding at endof year (shares)

192,000

VestedOutstanding at
beginning of year
(shares)-

Vested (shares)-

Exercised (shares)-

Expired (shares)-

Outstanding at endof year (shares)-(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
2. Unit price information
1st grant
Date of grant

2nd grant

June 20, 2005

3rd Grant

June 22, 2005

Exercise price (yen)4th Grant

June 27, 2005

December 1, 2005

500

500

500

1,000

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

-

-

-

-

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
5th Grant
Date of grant

6th Grant

January 31, 2006

Exercise price (yen)7th Grant

April 18, 2006

8th grant

July 1, 2006

December 4, 2006

1,000

1,000

1,500

1,500

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

-

-

0

0

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

Date of grant
Exercise price (yen)

9th grant

10th Grant

11th grant

12th grantFebruary 1, 2007

February 1, 2007

March 15, 2007

August 29, 2007

1,500

1,500

1,500

1,500

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

- 57 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Date of grant

13th grant

14th grant

15th grant

16th grantAugust 29, 2007

October 1, 2008

October 1, 2008

October 1, 2008

Exercise price (yen)

1,500

1,200

1,200

1,200

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
17th grant
Date of grant

18th Grant

March 18, 2009

Exercise price (yen)19th Grant

March 18, 2009

20th grant

March 18, 2009

March 31, 2010

1,200

1,200

1,200

600

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).

Date of grant

21st Grant

22nd grant

23rd grant

24th grant

March 31, 2010

March 31, 2010

October 15, 2010

March 31, 2011

Exercise price (yen)

600

600

600

700

Average stock price at the timeof exercise (yen)

-

-

-

-

Fair appraisal price at the dateof grant (yen)

0

0

0

0

(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
25th grant
Date of grant
Exercise price (yen)March 31, 2011
700

Average stock price at the timeof exercise (yen)-Fair appraisal price at the dateof grant (yen)0(Note) Converted to the number of shares adjusted for the stock split as at June 2, 2011 (100-for-1).
3. Method for estimating the fair appraisal price of stock options
The fair appraisal price of stock options that were granted in the 24th and 25th Grant during this fiscal year is
calculated based on their intrinsic value per unit.
Date of grantMethod for appraisal of stock

March 31, 2011

March 31, 2011

Discounted cash flow
(DCF)

Same as on the left

Aggregate of the intrinsic valueof stock options outstanding at
the end of this fiscal year (yen)00Aggregate of the intrinsic valueof stock options exercised
during this fiscal year at the dateof exercise (yen)--- 58 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Deffered tax accounting)
Fiscal 2010
(As of December 31, 2010)

Fiscal 2011
(As of December 31, 2011)

1. Composition of deferred tax assets and deferred tax liabilities
by source
deferred tax assets(Thousand yen)
Overdepreciation of assets to be
1,438
written off one-time
Overdepreciation of depreciable975
assetsOverdepreciation of deferred assets
121,321
Denial of other accounts payable
4,020
Denial of allowance for retirement746
benefits
Denial of local enterprise tax
3,581
payableLoss carried forward
1,194,350

1. Composition of deferred tax assets and deferred tax liabilities
by source

Subtotal deferred tax assets(Valuation allowance)
Total deferred tax assets

deferred tax assets
Overdepreciation of assets to be
written off one-time
Overdepreciation of depreciable
assetsOverdepreciation of deferred assets
Denial of R&D spending
Denial of trade account payable
Denial of other accounts payable
Denial of allowance for retirement
benefits
Denial of local enterprise tax
payableDenial of asset retirement
obligations
Loss carried forward

1,326,434(1,326,434)-

Deferred tax liabilities
Total deferred tax liabilities-

Net deferred tax assets-

Subtotal deferred tax assets(Valuation allowance)

2. Reconciliations between the normal effective statutory rates
and the actual effective tax rates after the application of tax
effect accounting
Not applicable because net loss is posted for the fiscal year.

(Thousand yen)
1,702
763
265,563345,528
7,737
27,129
745
6,988
2,751
1,343,142
2,002,052(2,002,052)

Total deferred tax assets-

Deferred tax liabilities
Total deferred tax liabilities-

net deferred tax assets-

2. Reconciliations between the normal effective statutory rates
and the actual effective tax rates after the application of tax
effect accounting
Not applicable because net loss is posted for the fiscal year.

(Equity-method gain or loss)
Fiscal 2010 (January 1, 2010 to December 31, 2010)
None to be reported.
Fiscal 2011 (January 1, 2011 to December 31, 2011)
None to be reported.

(Asset retirement obligations)Fiscal 2011 yearend ( December 31, 2011)
The asset retirement obligation is estimated based on the amount which Company obliged to pay as a reinstatement costs to the lessor
in the office lease agreements. On the other hand, we have paid the lease deposit to the lessor and state them as lease deposit. For theamount not to be reimbursed we estimate the total amount in a rational manner and only recognize the obligation for the FY2011
portion with deducting the deposit account and expense it in the income statement, instead of the method which recognizing the total
obligation both side as asset and liability in the balance sheet.

- 59 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Investment properties)
Fiscal 2010 (January 1, 2010 to December 31, 2010)
None to be reported.
(Additional information)
Effective from this fiscal year, “Accounting Standard for Investment Property and Related Disclosures” (ASBJ
Statement No. 20, November 28, 2008) and “Guidance on Accounting Standard for Investment Property and Related
Disclosures” (ASBJ Guidance No. 23, November 28, 2008) are applied.
Fiscal 2011 (January 1, 2011 to December 31, 2011)
None to be reported.
(Segment information)
Segment information
Fiscal 2011 (January 1, 2011 to December 31, 2011)
Segment information is not included as our business is a single business unit, namely drug research and development,
manufacturing and sales, and other related activities.
Additional information
Effective from this fiscal year, “Accounting Standard for Segment Information and Related Disclosures” (ASBJ Statement
No. 17, March 27, 2009) and “Guidance on Accounting Standard for Segment Information and Related Disclosures” (ASBJ
Guidance No. 20, March 21, 2008) are applied.
(Related party information)
Fiscal 2010 (January 1, 2010 to December 31, 2010)
None to be reported.
Fiscal 2011 (January 1, 2011 to December 31, 2011)
Type

Name ofthecompanyor name

Place

Capital oranteType ofbusiness or
occupation

Ratio
on
votin
g
rights(%)

Relationto theCompany

Contents
ofTransactio
nsTransactio
n amount(Thousand
yen)

Acco
unt

Balanceatfiscalyearend(Thous
and
yen)

Major
shareholder

Cephalon Inc.

Pennsylvania,
USA

2,634,726
thousand
USD

Developmen
t andmanufacturi
ng of
pharmaceuti
cal products(unpo
ssessed)
13.5,
directCapitalinjection,
Codevelopm
ent andsale ofproducts

Acceptance ofThirdparty
allotment(note 1)

772,240

-

-

Major
shareholder

JAFCO
V2 copartnersh
ip
investmentbusinesslimitedpartnershipChiyoda
-ku,
Tokyo

-

Venturecapital(unpo
ssessed)12.1,
directCapitalinjection

Acceptance ofThirdparty
allotment(note 2)

1,063,860--

Terms, conditions and policies- 60 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Note 1) Due to third-party allotment on February 17, 2011. Offering price is determined by reference to discounted cash flow
(Note 2) Due tothird-party allotment on February 25, 2011. Offering price is determined by reference to discounted cash flow
(Note 3) JAFCO V2 co-partnership investment business limited partnership became our major shareholder. The amount shown aboveis the one after became the main shareholder.
(Per share information)
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)

Net assets per share

36,541.74Yen

Net assets per

Net (loss) per share(5,933.47 yen)

Net (loss) per share

Net profit per share adjusted for potential stocks is not
calculated because net loss per share is posted although potential
stocks exist.

share

345.28Yen(143.60 yen)

Net profit per share adjusted for potential stocks is not
calculated because net loss per share is posted although potential
stocks exist.

(Note) 1. The basis for calculating net loss per share is as follows:
Fiscal 2010 (January 1, 2010 to
December 31, 2010)

Fiscal 2011 (January 1, 2011 to
December 31, 2011)

ሺ642,307)(2,104,513)--

Net (loss) for common stocks (thousand yen)(642,307)(2,104,513)

Number of period-average shares outstanding (shares)

108,252

14,655,716

Net (loss) (thousand yen)Amount not attributed to the shareholder of common
stocks (thousand yen)

Potential stocks that are not incorporated in thecalculation of net profit per share adjusted for potential
stocks because they do not have the dilution potential.

22 types of Stock acquisitionrights (23,750 units) in accordancewith the Commercial Code of 1890
Article 280 (20) and (21), andCompanies Act Article 236, 238,
and 239.

24 types of Stock acquisitionrights (27,185 units) in accordancewith the Commercial Code of 1890
Article 280 (20) and (21), andCompanies Act Article 236, 238,
and 239.

2. The Company made a stock split at the rate of 100 shares for each outstanding share as at June 2, 2011.

- 61 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

(Significant subsequent events)
Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)(1) Third-party allotment
The resolution was passed at Board of Directors meeting held
on February 14, 2011, with respect to third-party allotment of
1,988,000 thousand yen (70,000 yen per share), and theCompany completed the process by February 25, 2011.As aresult, Capital Stock amounted to 4,704,830 thousand yen,
Capital Reserve amounted to 4,674,830 thousand yen, and thenumber of issued shares totaled 140,137 shares as at February
25, 2011.Details of third-party allotment are as follows:
Method ofoffering

Third-party allotment
Entities to beType and number

allottedof stocks

Cephalon, Inc.

Common stock
11,032 share

JAFCO V2
Entities to be
allotted and typeand number ofstocksInvestment

Common stockEnterprise

15,198 sharePartnership
JAFCO V2-W
Investment

Common stockEnterprise

1,520 sharePartnership
JAFCO V2-R
Investment

Common stockEnterprise

650 shares

Partnership
Issuance priceTotal issuance
price

70,000 yen per share
1,988,000thousand yen

Amount of a
portion of total
issuance pricewhich is35,000 yen per shareincorporated into
CapitalSpending purposeof funds

R&D expenditure and working capital- 62 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Fiscal 2010 (January 1, 2010 to December 31, 2010)

Fiscal 2011 (January 1, 2011 to December 31, 2011)(2) Issuance of stock options (Stock acquisition rights) to theCompany’s directors
Based on the resolution passed by the annual general meeting ofshareholders held on March 30, 2011, the resolution was passed
at Board of Directors meeting held on March 30, 2011 withrespect to the issuance of 1,920 units of Stock acquisition rights
for the purpose of stock options to the Company’s 5 directors as
below:
Number of Stock acquisitionrights (unit)

1,920

Type of stock as object ofStock acquisition rights

Common stock

Number of shares as object ofStock acquisition rights(shares)

1,920

Issuance price of Stockacquisition rights

Free of charge

Payment amount at exerciseof Stock acquisition rights(yen)

70,000From March 31 2013 toPeriod for exercise of Stock
March 30, 2021
acquisition rights
Issuance price and amount to
be incorporated into Capital at Issuance price 70,000 yen
the issuance of new stocks by Amount to be incorporated
the exercise of Stockinto Capital 35,000 yen
acquisition rights
Matters related to transfer ofStock acquisition rights

TransferofStockacquisition rights requires
an approval from Board of
Directors.

- 63 -

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

Fiscal 2010 (January 1, 2010 to December 31, 2010)(3) Issuance of stock options (Stock acquisition rights) to the Company’s
employees
Based on the resolution passed by the annual general meeting of shareholders
held on March 30, 2011, the resolution was passed at Board of Directors
meeting held on March 30, 2011 with respect to the issuance of 1,950 units ofStock acquisition rights for the purpose of stock options to the Company’s 59
employees as below:
Number of Stock acquisition rights(unit)

1,950

Type of stock as object of Stockacquisition rights

Common stock

Number of shares as object of Stockacquisition rights (shares)

1,950

Issuance price of Stock acquisitionrightsFree of charge

Payment amount at exercise of Stockacquisition rights (yen)70,000Period for exercise
acquisition rightsofStock From March 31, 2013 toMarch 30, 2021

Issuance price and amount to beincorporated into Capital at theissuance of new stocks by the exerciseof Stock acquisition rights
Matters related to transfer of Stockacquisition rights

Issuance price 70,000 yen
Amount to be incorporated
into Capital 35,000 yen
Transfer of Stock acquisitionrights requires an approval
from Board of Directors.

(4) Decision of details and allotment related to issuance of share forsubscription by third party allotment
The resolution was passed at Board of Directors meeting held on March 30,
2011 with respect to decision of details and allotment related to issuance ofshare for subscription by third party allotment totaling 12,040 thousand yen(issuance price of 70,000 yen per share). Details of third-party allotment are
as follows:
Method of offering
Entities to be allottedType and number of stocks

Third-party allotment
The Company’s

The Company’s

directors 2

employees 8

Common stock

Common stock

52 share120 share

Issuance price

70,000 yen per share

Total issuance price

12,040 thousand yen

Amount of a portion of total
issuance price which is

35,000 yen per shareincorporated into Capital
Payment period

From April 4, 2011 to April 28, 2011

Spending purpose of funds

R&D expenditure and working capital- 64 -

Fiscal 2011 (January 1, 2011 to December 31, 2011)

SymBio Pharmaceuticals Limited (4582) Summary of Financial Statements [Japan GAAP] (Non-consolidated)
Results for the fiscal year ended December 31, 2011

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

(2) Other
None to be reported.

- 65 -