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 13, 2024

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2024
(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 27, 2024
Scheduled date to commence dividend payments:
June 28, 2024
Scheduled date to file annual securities report:
June 27, 2024
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, 2024 (from April 1, 2023 to March 31,
2024)(1) Consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Fiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2024

102,885

(0.4)

5,802

(31.8)

6,037(33.5)

4,547(31.6)March 31, 2023

103,261

(6.3)

8,507

(40.9)

9,085(38.6)

6,649(37.1)

Note: Comprehensive income

For the fiscal year ended March 31, 2024:
For the fiscal year ended March 31, 2023:

Basic earnings
per share

Diluted earnings
per share¥7,567 million¥5,001 million

Return on equity[51.3%][(34.4)%]

Ratio of ordinary
profit to total assets

Ratio of operating
profit to net sales%%

Fiscal year ended

Yen

March 31, 2024

126.80

-

3.6

3.8

5.6

March 31, 2023

178.93

-

5.2

5.6

8.2

Reference:

Yen%

Share of profit (loss) of entities accounted for using equity method
For the fiscal year ended March 31, 2024:¥(168) million
For the fiscal year ended March 31, 2023:¥- million(2) Consolidated financial position
Total assets
As of

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

158,800

127,96780.6

3,609.64

March 31, 2023

158,831

126,77579.8

3,470.18

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:¥127,967 million¥126,775 million%

Yen(3) Consolidated cash flows
Cash flows fromoperating activities

Cash flows frominvesting activities

Cash and cash
equivalents at end of
periodCash flows fromfinancing activities

Fiscal year ended

Millions of yen

Millions of yen

Millions of yen

Millions of yen

March 31, 2024

(7,480)74(6,393)24,290March 31, 2023

7,297

(2,949)(6,884)38,0102. Cash dividends
Annual dividends per share
First
SecondThird
quarter-end quarter-end quarter-end
Yen
Fiscal year ended

March 31, 2023
Fiscal year ended

March 31, 2024

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

-

40.00

80.00

2,953

44.7

2.3

-

40.00

-

40.00

80.00

2,842

63.1

2.3

-

40.00

-

40.00

80.00

Fiscal year ending

March 31, 2025

50.6

(Forecast)

3. Consolidated financial result forecasts for the fiscal year ending March 31, 2025 (from April 1, 2024 toMarch 31, 2025)(Percentages indicate year-on-year changes.)
Net sales
Millions of yen

Full year

106,000

Operating profit% Millions of yen

3.0

7,500

Profit attributable toowners of parent

Ordinary profit% Millions of yen

29.3

7,700

% Millions of yen

27.5

5,600

%

23.1

Basic earnings
per share
Yen

157.96

* 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, 2024

37,470,000 shares

As of March 31, 2023

38,500,000 shares(ii) Number of treasury shares at the end of the period
As of March 31, 2024

2,018,491 shares

As of March 31, 2023

1,967,279 shares(iii) Average number of shares outstanding during the period
Fiscal year ended March 31, 2024

35,863,557 sharesFiscal year ended March 31, 2023

37,160,991 shares[Reference] Overview of non-consolidated financial results
Non-consolidated financial results for the fiscal year ended March 31, 2024 (from April 1, 2023 to March 31,2024)(1) Non-consolidated operating results(Percentages indicate year-on-year changes.)

Net sales

Operating profit

Ordinary profit

ProfitFiscal year ended

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

March 31, 2024

94,243

(1.3)

3,220

(49.8)

5,355(40.3)

4,671(35.6)March 31, 2023

95,486

(6.8)

6,411

(43.6)

8,971(33.7)

7,250(30.6)

Basic earnings
per share

Diluted earnings
per share

Fiscal year ended

Yen

March 31, 2024

130.27-

March 31, 2023

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

Net assets

Equity-to-asset ratio

Net assets per share

Millions of yen

Millions of yen

March 31, 2024

152,166

126,33683.0

3,563.63

March 31, 2023

152,386

125,10982.1

3,424.59

Reference:

EquityAs of March 31, 2024:
As of March 31, 2023:¥126,336 million¥125,109 million%

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 Thursday, May 16,2024.

Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
FY2022(As of March 31, 2023)
AssetsCurrent assets
Cash and deposits
Accounts receivable - trade
Securities
Merchandise and finished goods
Work in process
Raw materials and supplies
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Land
Other, net
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Total investments and other assets
Total non-current assets
Total assets

1

FY2023(As of March 31, 2024)

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

33,29034,83813,49918,535
1,428
10,315
4,753
116,662

7,069
1,854
4,990
1,135
15,049
797

6,823
1,667
5,993
1,390
15,874721

14,2463,883
7,476
25,60541,452
158,831

16,116
2,372
7,052
25,541
42,138
158,800

(Millions of yen)
FY2022(As of March 31, 2023)
Liabilities
Current liabilities
Notes and accounts payable - trade
Electronically recorded obligations - operating
Income taxes payable
Contract liabilities
Provision for bonuses
Other provisions
Other
Total current liabilities
Non-current liabilities
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders’ equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

2

FY2023(As of March 31, 2024)

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

10,975
1,207
593
―
2,140
163
10,992
26,073

4,133
664
4,798
32,056

3,908
851
4,759
30,8337,229
1,871
118,943(7,114)
120,930

7,229
1,871
117,022(7,021)
119,102

5,655
189
5,844
126,775
158,831

8,585
279
8,864
127,967
158,800

(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 profit
Non-operating income
Interest income
Dividend income
Rental income from real estate
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity
methodCommission expenses
Foreign exchange losses
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of non-current assets
Settlement income
Gain on sale of investment securities
Insurance claim income
Total extraordinary income
Extraordinary losses
Loss on sale and retirement of non-current assets
Expenses for disposal of fixed assets
Loss on valuation of investment securities
Total extraordinary losses
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent

3

FY2022(From April 1, 2022
to March 31, 2023)
103,261
48,14655,11446,6078,507

FY2023(From April 1, 2023
to March 31, 2024)
102,885
50,81552,07046,267
5,802

2
338
86
239
665

2
363
97
48
510

0

2

―

168

45
36
6
87
9,085

38
60
5
275
6,037

0
8
―
4
13

56
13
433
―
503

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

34
12
333
380
6,160
1,453
160
1,613
4,547
4,547

Consolidated Statements of Comprehensive Income(Millions of yen)

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent

4

FY2022(From April 1, 2022
to March 31, 2023)
6,649

FY2023(From April 1, 2023
to March 31, 2024)
4,547(1,653)
5(1,648)
5,001

2,929
89
3,019
7,567

5,001

7,567

(3) Consolidated Statements of Changes in Equity
FY2022 (From April 1, 2022 to March 31, 2023)(Millions of yen)
Shareholders’ equity

Balance at beginning of period
Changes during period:
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Balance at beginning of period
Changes during period:
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Share capital

Capital surplus

7,229

1,871

Retainedearnings
121,668

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

6,649

6,649
(3,502)

―

―

7,229

1,871

(6,004)

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

Accumulated other comprehensive income
Valuation
Total accumulated
Remeasurements
Total net assets
difference on
otherof defined benefit
available-for-salecomprehensive
plans
securities
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

5

Total
shareholders’equity121,153

FY2023 (From April 1, 2023 to March 31, 2024)(Millions of yen)
Shareholders’ equity

Balance at beginning of period
Changes during period:
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Balance at beginning of period
Changes during period:
Dividends of surplus
Profit attributable to owners ofparentPurchase of treasury shares
Disposal of treasury shares
Cancellation of treasury shares
Net changes in items other thanshareholders’ equity
Total changes during period
Balance at end of period

Share capital

Capital surplus

7,229

1,871

0
(0)

―

―

7,229

1,871

Retainedearnings
118,943

Treasury shares(7,114)(2,886)(2,886)

4,547

4,547

(3,582)(3,489)0
3,582(3,489)0―(1,921)
117,02293(7,021)(1,827)
119,102

Accumulated other comprehensive income
Valuation
Total accumulated
Remeasurements
Total net assets
difference on
otherof defined benefit
available-for-salecomprehensive
plans
securities
income
5,655
189
5,844
126,775(2,886)
4,547(3,489)
0
―
2,929

89

3,019

3,019

2,929
8,585

89
279

3,019
8,864

1,192
127,967

6

Total
shareholders’equity120,930

(4) Consolidated Statements of Cash Flows(Millions of yen)
FY2022(From April 1, 2022
to March 31, 2023)
Cash flows from operating activities:
Profit before income taxes
Depreciation
Loss (gain) on sale of investment securities
Insurance claim income
Loss (gain) on sale and retirement of non-current assets
Expenses for disposal of fixed assets
Loss (gain) on valuation of investment securities
Share of loss (profit) of entities accounted for using equity
methodIncrease (decrease) in provision for bonuses
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses and commission fee
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Decrease (increase) in other current assets
Increase (decrease) in trade payables
Increase (decrease) in other current liabilities
Other, net
SubtotalInterest and dividends received
Interest expenses and commission fee paid
Proceeds from insurance income
Payments for contract loss
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities:
Payments into time deposits
Proceeds from withdrawal of time deposits
Purchase of securities
Proceeds from sale of securities
Purchase of property, plant and equipment and intangible
assetsProceeds from sale of property, plant and equipment
Purchase of investment securities
Proceeds from sale of investment securities
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities:
Dividends paid
Purchase of treasury shares
Proceeds from sale of treasury shares
Other, net
Net cash provided by (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 period
Cash and cash equivalents at end of period

7

FY2023(From April 1, 2023
to March 31, 2024)

9,044
2,672
―
(4)
53
―
―

6,160
2,808
(433)
―
(22)
12
333

―

168

(349)
(129)
(340)
45
3,869
(1,277)817(1,941)
1,183(2,470)11,173340(35)
42(1,000)(3,224)
7,297

(172)
(96)
(365)
40
(7,032)(5,873)(582)
2,225(2,882)(728)(6,440)
365
(37)
―
―
(1,368)(7,480)(12,000)
10,900(10,500)
10,500(12,000)
12,000(10,500)
10,500(2,166)(2,296)0――316(2,949)

56
(300)
2,601
11
74

(3,372)(3,512)―(0)(6,884)(2,887)(3,492)0(14)(6,393)32

79(2,504)40,51538,010(13,720)
38,01024,290Supplementary Materials for Consolidated Financial Results（Fiscal year ended March 31, 2024）

1．Capital expenditures

Full year(Millions of yen)

FY2022

FY2023

FY2024 Forecast

2,105

2,315

1,800

2．Depreciation(Millions of yen)

FY2022

FY2023

FY2024 Forecast

Full year

2,672

2,808

2,900

(Property, plantand equipment)

1,586

1,461

1,500

3．Research and development expenses(Millions of yen)

FY2022

FY2023

FY2024 Forecast

Full year

13,283

12,554

13,200(% of Revenue)

12.9%

12.2%

12.5%

8

Sales of Main Products（Fiscal year ended March 31, 2024）（Billions of yen）

Products

Fiscal year ended

Fiscal year ended

Fiscal year ending

March 31, 2023

March 31, 2024

March 31, 2025

Apr-Mar

Apr-MarY o Ychanges%

Apr-Mar
forecast

Y o Ychanges%Treatment of ulcerative colitis

Lialda®

13.5

14.5

+ 7%

14.6

+ 1%

Treatment for chronic constipation

Goofice®

6.9

7.7

+ 12%

9.0

+ 16%

Drug for hyperlipidemia andarteriosclerosis obliterans

Epadel

7.1

7.4

+ 4%

6.5

△ 12%

Treatment for chronic constipation

Movicol®

5.4

5.9

+ 8%

6.0

+ 1%

AntidepressantLexapro®

11.0

5.2

△ 53%

3.7

△ 29%

Gout and hyperuricemia

Urece®

2.2

3.3

+ 47%

5.4

+ 61%

Treatment for pulmonary arterial
hypertension
Calcium channel blocker with a longacting hypotensive effectAnalgesic for chronic pain and pain
after tooth extraction

Treprost®

1.6

2.3

+ 45%

2.8

+ 18%

Atelec®

2.6

2.3

△ 13%

1.8

△ 19%

Tramcet®

2.9

2.2

△ 23%

2.0

△ 10%

Heparin Sodium
MOCHIDA

1.2

1.3

+ 4%

1.2

△ 5%

Dinagest

1.8

1.1

△ 39%

0.7

△ 32%

Beselna

1.1

1.1

△ 2%

0.6

△ 38%

-

0.2

-

1.4

+ 619%

Generic drugs

29.5

32.6

+ 11%

28.5

△ 13%

Skin Care Products

5.9

6.4

+ 9%

6.8

+ 6%

Anticoagulant agent
Therapeutic agent for endometriosis,
adenomyosis and dysmenorrhea
Therapeutic agent for condyloma
acuminatum and actinic keratosis
Treatment of ulcerative colitis

Cortiment®

Sales of Lexapro® of the fiscal year ended march 31, 2023 are the sum of Mochida's own sales and sales to
Mitsubishi Tanabe Pharma Corporation.
Sales of Atelec® are the sum of Atelec® and Atedio®.
Cortiment® was launched in September 2023.

9

Development Pipeline【Ethical drug】
Development code
<Generic name>
ACT-541468<daridorexant>

MD-711<treprostinil>

MD-0901<mesalazine>

FYU-981<dotinurad>

MND-21<icosapent>Stage

Indications

Formulation
Oral

Remarks<Development country>
Co-development with Nxera Pharma Japan Co., Ltd.
(Former Idorsia Pharmaceuticals Japan Ltd.)<Japan>Filed

Insomnia

Filed

Pulmonary hypertension
associated with
Licensed-in from United Therapeutics Corporationinterstitial lung disease or Inhalant In-house development<Japan>combined pulmonary
fibrosis and emphysema

Phase Ⅲ

Ulcerative colitis（pediatric indication）

Oral

Licensed-in from Takeda Pharmaceuticals U.S.A., Inc.
In-house development<Japan>Phase Ⅲ

Gout andhyperuricemia(pediatric indication)

Oral

Co-development with FUJI YAKUHIN Co., Ltd.
<Japan>Phase Ⅲ

Hypertriglyceridemia

Oral

Collaboration with Sumitomo Pharma (Suzhou) Co., Ltd.
<China>【Medical device】
Development code or
Common nameｄMD-001

ｄMD-002

ｄMD-003

Nerve Cuff

Stage

Intended use or indications

Remarks<Development country>

Articular cartilage lesion

In-house development<Japan>Therapeutic
Cavernous nerve injury
exploratory study

In-house development<Japan>Therapeutic
confirmatory
study

Post-operative adhesion

In-house development<Japan>Filed（510(k)）

Peripheral nerve injury

In-house development
<USA>

Filed

Stages of Medical devices are classified into “Therapeutic exploratory study” and “Therapeutic confirmatory study”.

10