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

May 15, 2023

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2023
(Under Japanese GAAP)
Company name:
Mochida Pharmaceutical Co., Ltd.
Listing:
Tokyo Stock Exchange
Securities code:
4534
URL:
https://www.mochida.co.jp/english/
Representative:(Name) Naoyuki Mochida (Title) Representative Director, President
Inquiries:(Name) Kenichi Miyamoto (Title) Head of Finance & Accounting Department
Telephone:+81-3-3358-7211
Scheduled date of annual general meeting of shareholders:June 29, 2023
Scheduled date to commence dividend payments:
June 30, 2023
Scheduled date to file annual securities report:
June 29, 2023
Preparation of supplementary material on financial results:
Yes
Holding of financial results briefing:
Yes (for analysts)(Yen amounts are rounded down to millions, unless otherwise noted.)

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

Net sales

Operating income

Profit attributable toowners of parent

Recurring income

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2023

103,261

(6.3)

8,507

(40.9)

9,085(38.6)

6,649(37.1)March 31, 2022

110,179

7.0

14,392

19.9

14,79920.7

10,56923.1

Note: Total comprehensive income

For the fiscal year ended March 31, 2023:
For the fiscal year ended March 31, 2022:

Net income
per share

Diluted net income
per share¥5,001 million¥7,619 million

Return on equity[(34.4)%][(33.2)%]

Ratio of recurringincome to total
assetsRatio of operating
income to net sales%%

Fiscal year ended

Yen

March 31, 2023

178.93

-

5.2

5.6

8.2

March 31, 2022

277.39

-

8.3

9.1

13.1

Reference:

Yen%

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

Net assets

Shareholders' equity ratio

Millions of yen

Millions of yen

March 31, 2023

158,831

126,77579.8

3,470.18

March 31, 2022

163,139

128,64678.9

3,424.21

Reference:

Shareholders' equity
As of March 31, 2023:
As of March 31, 2022:¥126,775 million¥128,646 million%

Net assets per shareYen(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at end of year

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2023

7,297

(2,949)(6,884)38,010March 31, 2022

7,459

(2,007)(5,956)

40,515

2. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen
Fiscal year ended

March 31, 2022
Fiscal year ended

March 31, 2023

Yen

Fiscalyear-end

Yen

Total cash
dividends(Total)

Total

Yen

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

Yen Millions of yen

%

%

-

40.00

-

50.00

90.00

3,409

32.4

2.7

-

40.00

-

40.00

80.00

2,953

44.7

2.3

-

40.00

-

40.00

80.00

Fiscal year ending

March 31, 2024

46.4

(Forecast)

3. Consolidated financial result forecasts for the fiscal year ending March 31, 2024 (from April 1, 2023 toMarch 31, 2024)(Percentages indicate year-on-year changes.)
Net sales
Millions of yen

Full year

104,000

Operating income% Millions of yen

0.7

8,500

% Millions of yen

(0.1)

8,700

Net income
per share

Profit attributable toowners of parent

Recurring income% Millions of yen

(4.2)

6,300

%

(5.3)

Yen

172.45

* Notes(1) Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in change inscope of consolidation): None
(2) Changes in accounting policies, changes in accounting estimates, and restatement(i) Changes in accounting policies due to revisions to accounting standards and other regulations: None(ii) Changes in accounting policies due to other reasons: None(iii) Changes in accounting estimates: None(iv) Restatement: None
(3) Number of issued shares (common shares)(i)

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

38,500,000 shares

As of March 31, 2022

40,160,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2023

1,967,279 shares

As of March 31, 2022

2,590,401 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2023

37,160,991 sharesFiscal year ended March 31, 2022

38,102,515 shares[Reference] Overview of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended March 31, 2023 (from April 1, 2022 to March 31,2023)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales
Fiscal year ended

Operating income

Millions of yen%

March 31, 2023

95,486

March 31, 2022

102,439

Recurring income

Millions of yen

%

(6.8)

6,411

7.5

11,367

Net income
per share

ProfitMillions of yen%

Millions of yen%(43.6)

8,971

23.1

13,539(33.7)

7,250(30.6)

16.5

10,441

16.2

Diluted net income
per share

Fiscal year ended

Yen

March 31, 2023

195.10-March 31, 2022

274.03-Yen(2) Non-consolidated financial position
Total assets
As of

Net assets

Shareholders' equity ratio

Millions of yen

Millions of yen

March 31, 2023

152,386

125,10982.1

3,424.59

March 31, 2022

156,837

126,38580.6

3,364.03

Reference:

Shareholders' equity
As of March 31, 2023:
As of March 31, 2022:¥125,109 million¥126,385 million%

Net assets per share
Yen* Financial results reports are exempt from audit conducted by certified public accountants or an audit
corporation.
* Explanation of the proper use of financial result forecasts and other special matters
The financial result forecasts presented in this document are based on information that is currently available to
the Company as of the announcement of this document, and the Company does not guarantee to achieve them.
In addition, actual financial results may differ significantly from these forecasts due to a wide range of factors.
(How to obtain supplementary material on financial results)
Supplementary material on financial results will be posted on the Company's website on Wednesday, May 17,2023.

Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
FY2021(As of March 31, 2022)
AssetsCurrent assets
Cash and time deposits
Accounts receivable
Marketable securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other current assets
Total current assets
Fixed assets
Property, plant and equipment
Buildings and other structures, net
Machinery and equipment and transportationequipment, net
Land
Others, net
Total property, plant and equipment
Intangible fixed assets
Investments and other assets
Investments in securities
Deferred income taxes
OthersTotal investments and other assets
Total fixed assets
Total assets

1

FY2022(As of March 31, 2023)

48,41531,676
13,49915,110
1,355
6,662
4,727
121,448

47,01027,806
13,49914,644
1,453
8,307
4,656
117,379

4,769

7,069

1,759

1,854

4,990
3,009
14,528
713

4,990
1,135
15,049797

16,474
3,691
6,283
26,44941,691
163,139

14,2463,883
7,476
25,60541,452
158,831(Millions of yen)
FY2021(As of March 31, 2022)
Liabilities
Current liabilities
Notes and accounts payable
Electronically recorded obligations - operating
Income taxes payable
Contract liabilities
Provision for bonuses
Other provisions
Other current liabilities
Total current liabilities
Long-term liabilities
Retirement benefits liability
Other long-term liabilities
Total long-term liabilities
Total liabilities
Net assets
Shareholders’ equity
Paid-in capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Unrealized gain on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

2

FY2022(As of March 31, 2023)

10,656
1,243
1,652
―
2,663
171
13,47029,856

9,047
910
501
50
2,313
169
14,26627,258

4,270
365
4,636
34,493

4,133
664
4,798
32,056

7,229
1,871
121,668(9,617)
121,153

7,229
1,871
118,943(7,114)
120,930

7,308
184
7,493
128,646
163,139

5,655
189
5,844
126,775
158,831(2) Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Millions of yen)

Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating income
Other income
Interest income
Dividend income
Real estate rent
Gain on forgiveness of debts
OthersTotal other income
Other expenses
Interest expenses
Interest and charge (commission) expense
Foreign exchange losses
OthersTotal other expenses
Recurring income
Extraordinary gains
Gain on sales of fixed assets
Settlement received
Gain on sales of investment securities
Insurance claim income
Total extraordinary gains
Extraordinary losses
Loss on sales and disposal of fixed assets
Impairment losses
Loss on disaster
Removal expenses for fixed assets
Settlement expenses
Total extraordinary losses
Income before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Net income
Profit attributable to owners of parent

3

FY2021(From April 1, 2021
to March 31, 2022)
110,179
50,62659,55345,161
14,392

FY2022(From April 1, 2022
to March 31, 2023)
103,261
48,14655,11446,607
8,507

2
284
82
6
79
455

2
338
86
165
73
665

―
43
―
5
48
14,799

0
45
36
6
87
9,085

―
―
526
38
564

0
8
―
4
13

5
107
22
535
100
771
14,591
3,215
807
4,022
10,56910,569

54
―
―
―
―
54
9,044
2,014
380
2,395
6,649
6,649

Consolidated Statements of Comprehensive Income(Millions of yen)

Net income
Other comprehensive income, net of tax
Unrealized gain on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income, net of tax
Total comprehensive income
Total comprehensive income attributable to:
Owners of parent

4

FY2021(From April 1, 2021
to March 31, 2022)
10,569FY2022(From April 1, 2022
to March 31, 2023)
6,649(3,002)53(2,949)7,619(1,653)
5(1,648)
5,001

7,619

5,001

(3) Consolidated Statements of Changes in Net Assets
FY2021 (From April 1, 2021 to March 31, 2022)(Millions of yen)
Shareholders’ equity

Balance at beginning of year
Changes in the fiscal year:
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Net changes of items other thanshareholders’ equity
Total
Balance at end of year

Balance at beginning of year
Changes in the fiscal year:
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Net changes of items other thanshareholders’ equity
Total
Balance at end of year

Paid-in capital

Capital surplus

7,229

1,871

―

7,229

Retainedearnings
116,288

Treasury shares(8,857)(3,444)(3,444)

10,56910,569(1,744)(2,504)
1,744(2,504)

(0)

(0)
1,871

5,380
121,668(759)(9,617)

4,620
121,153

Accumulated other comprehensive income
Total accumulated
Unrealized gain Remeasurements
Total net assets
otheron available-for- of defined benefit
comprehensive
sale securities
plans
income10,311
131
10,442
126,974(3,444)
10,569(2,504)―(3,002)53(2,949)(2,949)(3,002)
7,308

53
184

(2,949)
7,493

1,671
128,646

5

Total
shareholders’equity116,532―

FY2022 (From April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders’ equity

Balance at beginning of year
Changes in the fiscal year:
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Net changes of items other thanshareholders’ equity
Total
Balance at end of year

Balance at beginning of year
Changes in the fiscal year:
Dividends from surplus
Profit attributable to owners ofparentPurchase of treasury shares
Cancellation of treasury shares
Net changes of items other thanshareholders’ equity
Total
Balance at end of year

Paid-in capital

Capital surplus

7,229

1,871

―

―

7,229

1,871

Retainedearnings
121,668

Treasury shares(9,617)(3,370)(3,370)

6,649

6,649

(6,004)(3,502)
6,004(3,502)―(2,725)
118,9432,502(7,114)(223)
120,930

Accumulated other comprehensive income
Total accumulated
Unrealized gain Remeasurements
Total net assets
otheron available-for- of defined benefit
comprehensive
sale securities
plans
income
7,308
184
7,493
128,646(3,370)6,649(3,502)―(1,653)

5(1,648)(1,648)(1,653)
5,655

5
189

(1,648)5,844(1,871)
126,775

6

Total
shareholders’equity121,153

(4) Consolidated Statements of Cash Flows(Millions of yen)
FY2021(From April 1, 2021
to March 31, 2022)
Cash flows from operating activities:
Income before income taxes
Depreciation and amortization
Loss (gain) on sales of investment securities
Gain on forgiveness of debts
Insurance claim income
Loss (gain) on sale and disposal of fixed assets
Impairment losses
Loss on disaster
Removal expenses for fixed assets
Settlement expenses
Increase (decrease) in provision for bonuses
Increase (decrease) in retirement benefits liability
Interest and dividend income
Interest and charge (commission) expense
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in other current liabilities
Other
SubtotalInterest and dividends received
Interest and commission paid
Proceeds from insurance income
Settlement paid
Payments for contract loss
Income taxes paid
Net cash provided by operating activities
Cash flows from investing activities:
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of short-term investment securities
Proceeds from sales of short-term investment securities
Payment for purchases of tangible and intangible fixed
assetsProceeds from sales of property, plant and equipment
Payment for removal of fixed assets
Proceeds from sales of investment securities
Purchase of investment securities
Other
Net cash used in investing activities
Cash flows from financing activities:
Dividends paid
Purchase of treasury shares
Other
Net cash used in financing activities
Effect of exchange rate changes on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year

7

FY2022(From April 1, 2022
to March 31, 2023)

14,591
2,689
(526)
(6)
(38)
5
107
22
535
100
166
(305)
(287)
43
(2,486)
(521)
(899)
2,176
(1,658)(783)
12,925
286
(36)
―
(100)
(2,000)(3,616)
7,459

9,044
2,672
―
(165)
(4)
53
―
―
―
―
(349)
(129)
(340)
45
3,869
(1,277)817(1,941)
1,183(2,304)
11,173
340
(35)
42
―
(1,000)(3,224)
7,297(10,900)
16,500(10,500)
6,000(12,000)
10,900(10,500)
10,500(2,988)(2,166)

0
(108)
538
(540)
(8)
(2,007)

0
―
―
―
316
(2,949)(3,445)(2,511)(0)(5,956)(3,372)(3,512)(0)(6,884)

31

32

(472)
40,98740,515(2,504)40,51538,010