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.

Consolidated Financial Results for FY2023(from April 1, 2023 to March 31, 2024)<Based on Japanese GAAP>May 10, 2024

Company name:
Stock exchange listing:Stock code:
Representative：

ASKA Pharmaceutical Holdings Co., Ltd.
Tokyo
4886
URL: https://www.aska-pharma-hd.co.jp/english/
President and Representative Director
Takashi Yamaguchi
Inquiries：
Corporate Planning Department Director
Hideaki Kobayashi
Scheduled date of ordinary general meeting of shareholders：June 25, 2024
Scheduled date to file Quarterly Report：
June 25, 2024
Scheduled date to commence dividend payments：
June 26, 2024
Supplementary material for financial results：
Yes
Financial results meeting：Yes

TEL +81-3-5484-8366(Amounts less than one million yen are rounded down)
1. Consolidated financial results for FY2023 (from April 1, 2023 to March 31, 2024)(1) Consolidated operating result
Percentages indicate year-on-year changes
Profit attributable to
Net sales
Operating profit
Ordinary profit
owners of parent
Millions of yen% Millions of yen% Millions of yen% Millions of yen%
62,843
3.9
6,500
27.3
6,522
24.6
7,545
78.0
Year ended March 31, 2024
60,461
6.8
5,108
6.5
5,232
7.2
4,238
(1.2)
Year ended March 31, 2023
Note: Comprehensive income

Year ended March 31, 2024
Year ended March 31, 2023
Earnings per share

Reference: Equity Gains(Losses) of Affiliated Companies

8,127
5,983

Profit attributable toowners ofparent/equity
Yen
%
13.0
－
8.2
－

Diluted earnings
per shareYen
266.51150.08Year ended March 31, 2024
Year ended March 31, 2023

(Millions of yen)
(Millions of yen)

Year ended March 31, 2024
Year ended March 31, 2023

(Millions of yen)
(Millions of yen)

(35.8%)(20.1%)

Ordinary profit/
total assets

Operating profit/
net sales

%
7.3
6.1

%
10.3
8.4

(41)
(19)

(2) Consolidated financial position

As of March 31, 2024
As of March 31, 2023
Reference: Tangible net worth

Total assets
Millions of yen

Net assets
Millions of yen

90,74587,138Year ended March 31, 2024
Year ended March 31, 2023

Equity ratio

Net assets per share

61,930%68.2

Yen2,186.10

54,53362.6

1,928.14(Millions of yen)
(Millions of yen)

61,93054,533(3) Consolidated cash
Cash flows fromoperating activities
Millions of yen
Year ended March 31, 2024
Year ended March 31, 2023

Cash flows frominvesting activities
Millions of yen

Cash flows fromfinancing activities
Millions of yen

Cash and cash
equivalents
at end of period
Millions of yen

1,486

1,706

(3,943)

16,7383,351(1,126)(1,820)17,505

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

2. Cash dividends
Annual dividends per share
1stquarter-

2ndquarter-

3rdquarter-

end

end

end

Yen
Year ended March 31, 2023

Yen
8.00
20.00

Yen

Fiscalyear-end

Total

Yen
8.00
20.00

－
－
Year ended March 31, 2024－－
Year ending March 31, 2025
25.00
25.00
－
－
(Forecast)
Notes: 1. Revision from the dividend forecast currently announced: No

Yen
16.00
40.00

Total cash

Dividend

dividends

payout ratio(Total)(Consolidated)

%
10.7
15.0

Millions of yen

452
1,133

Ratio ofdividends to
net assets(Consolidated)

%
0.9
1.9

28.3

50.00

3. Forecast of consolidated financial results for FY2024 (from April 1, 2024 to March 31, 2025)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
63,000Operating profit% Millions of yen
0.2
6,700

Ordinary profit% Millions of yen
3.1
6,700

Profit attributable toowners of parent% Millions of yen
2.7
5,000

%
(33.7)

Earnings per share
Yen
176.50ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

Notes:(1) Changes in significant subsidiaries during the Year ended March 31, 2024
(changes in specified subsidiaries resulting from the change in the extent of consolidation):No(2) Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements
Changes in accounting policies due to revisions to accounting standards and other regulations:No

Changes in accounting policies due to other reasons:No

Changes in accounting estimates:

No

Restatement of prior period financial statements:
No(Note) Please refer to “3. Consolidated Financial Statements, (5) Notes to the consolidated financial statements”.
(3) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of March 31, 2024

30,563,199 As of March 31, 2023

30,563,199

2) Number of treasury shares at the end of the period
As of March 31, 2024

2,233,957 As of March 31, 2023

2,280,061

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
Year ended March 31, 2024

28,313,370 Year ended March 31, 2023

28,239,747* This report of financial results is not subject to auditing by a certified public accountant or audit firm.
* Explanation concerning appropriate use of projections of business results and other notes(Note on forward-looking statements etc.)
1.

Projections of business results and other forward-looking statements contained in this document are based onassumptions judged to be reasonable and information currently available to the Company, and the Company does not in
any way guarantee the achievement of the projections. Actual business results may materially differ from the forecasted
figures due to various factors in the future. Please refer to "1. Operating Results, (4) Future Outlook" on page 4 for theassumptions used in forecasting business results and precautions regarding the use of business results forecasts.

2.

The Company plans to hold a briefing on financial results for institutional investors and securities analysts on May 22,2024. The materials used in this briefing will be posted on the Company’s website.

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

CONTENTS
1.

2.
3.

Overview of Operating Results and Financial Position……………………………………………………………….

2(1) Overview of Operating Results for the Current Fiscal Year.……………………………………………………..
(2) Overview of Financial Position for the Current Fiscal Year..……………………………………………………..

2
3(3) Overview of Cash Flow Position for the Current Fiscal Year………………..……...……………….…………..
(4) Future Outlook…...……………………………………………………………………………………………………

3
4(5) Basic Policy on Distribution of Earnings and Dividends in This and the Following Period…………………...
Basic Thinking on Selection of Accounting Standards……………………………………………………………….

4
5

Consolidated Financial Statements ……………………………………………………………………………………
(1) Consolidated Balance Sheets……………………………………………………………………………………….

66(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income……………
Consolidated Statements of Income………………………………………………………………………………

8
8

Consolidated Statements of Comprehensive Income…………………………………………………………..
(3) Consolidated Statement of Changes in Equity.…………………………………………………………………..

910(4) Consolidated Statements of Cash Flows………………………………………………………………………..… 12(5) Notes to the Consolidated Financial Statements.………………………………………………………………… 13(Notes concerning the going-concern assumption) ……………………………………………………………… 13(Changes to accounting policies) ……………………………………………………………………………..…… 13

4.

(Changes to accounting estimates) ………………………………………………………………………..………
(Segment information etc.) ……………………………………………………………………………….…………

13
13(Notes to amounts per share) ………………………………………………………………………………………
(Significant subsequent events) ……………………………………………………………………………………

16
16

Supplemental Material…………………………………………………………………………………………………… 17(1) Sales of Main Products……………………………………….………………….………………………..………… 17(2) Product Pipeline ………………………………………………………………….………………………..………… 18(3) (Consolidated) Capital Expenditures, Depreciation, Research and development expenses……...………… 19- 1 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

1.

Overview of Operating Results and Financial Position(1) Overview of Operating Results for the Current Fiscal Year
During the consolidated fiscal year under review, the Japanese economy showed signs of recovery, evidenced by thenormalization of social activities. However, the business environment remained uncertain due to an increasingly tenseinternational situation, as well as inflation, financial instability caused by higher policy interest rates in Europe and theUnited States, and significant fluctuations in the exchange market. In the pharmaceutical business, the core of the Group,
despite the challenging business environment which was impacted by the periodical NHI drug price revisions and otherfactors, the Group's business continued to be as strong as it was in the previous fiscal year due to the growth of new
products and other factors.
Operating results during the consolidated fiscal year are described below.
FY2023
FY2022
Consolidated
Consolidated
Cumulative Period
Cumulative Period(Millions of yen)
(Millions of yen)

ActualGrowth(Millions of yen)(%)

Net sales

60,461

62,843

2,381

3.9%

Operating profit

5,108

6,500

1,392

27.3%

Ordinary profit

5,232

6,522

1,289

24.6%

Profit attributable toowners of parent

4,238

7,545

3,307

78.0%

The Group’s net sales in the consolidated fiscal year under review were 62,843 million yen, up 2,381 million yen year on
year (YoY). This was due mainly to growth in the pharmaceutical business driven by the growth in obstetrics andgynecological products. Cost of sales was 32,178 million yen, and cost of sales ratio was down 1.5% YoY, resulting in an
increase of 2,079 million yen in gross profit YoY to 30,664 million yen. At the same time, selling, general and administrative
expenses rose by 687 million yen YoY to 24,164 million yen. As a result, operating profit was up 1,392 million yen YoY to
6,500 million yen, for a ratio of operating profit to net sales of 10.3%. Ordinary profit was 6,522 million yen, after recording
414 million yen in non-operating income and 392 million yen in non-operating expenses. While the Company recorded
3,340 million yen during the period in extraordinary income associated with sale of investment securities, profit attributableto owners of parent was up 3,307 million yen YoY to 7,545 million yen.
In addition, ASKA Pharmaceutical Co., Ltd. a subsidiary of the Company, has executed a capital increase agreement toissue new shares of its equity method affiliate, Ha Tay Pharmaceutical Joint Stock Company, with the aim of strengthening
the partnership between the two companies.
Business results by segment are described below.
(i) Pharmaceutical business
The pharmaceutical business, which focuses on the three fields: internal medicine, obstetrics and gynecology, andurology, showed favorable trends overall, despite the impact of the periodical NHI drug price revisions. A look at results
by product shows that the results in the field of obstetrics and gynecology were driven by the large-scale growth in theuterine fibroid and endometriosis agent RELUMINA (relugolix), to 9,906 million yen (up 12.1% YoY), and thedysmenorrhea agent DroEthi (drospirenone/ ethinylestradiol), which went on sale in June 2022, largely drove
performance with sales of 6,125 million yen (up 66.3% YoY). Sales also grew in the internal medicine area, as sales of
the thyroid hormone agent THYRADIN (levothyroxine), our main product in this field, grew to 7,862 million yen (up 1.7%
YoY) and those of the poorly absorbable rifamycin antimicrobial agent RIFXIMA (rifaximin) to 5,864 million yen (up 8.7%
YoY). In the urology field, sales of the LH-RH derivative microcapsule sustained-release agent LEUPRORELIN(leuprorelin) were 4,430 million yen (down 11.4% YoY).
As a result of the above factors, the segment sales were 56,016 million yen (up 4.5% YoY), and segment profit was
7,647 million yen (up 32.3% YoY).
(ii) Animal health business
Sales of the animal health business, which sells products such as veterinary pharmaceuticals and feed additives, were
6,664 million yen (up 0.0% YoY). However, the segment profit was 195 million yen (down 52.3% YoY) due to rising costsof raw materials and other items.

- 2 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(iii) Other businesses
Sales of other businesses, which include clinical testing, medical devices, were 162 million yen (down 26.3% YoY).
Segment loss was 125 million yen (vs. a loss of 6 million yen in the same period of the previous year).
(iv) Research and development
The Company conducted research and development including progress on drug discovery research and clinicaldevelopment centered on the internal medicine, obstetrics and gynecology, and urology areas that are the three corebusinesses of ASKA Pharmaceutical Co., Ltd. along with proactive deployment of introduction and derivation activities andbusiness alliance strategies.
In the area of clinical development, L-105 (rifaximin) received approval for partial change of the manufacturing andmarketing approval for the pediatric indication for the improvement of hyperammonemia in hepatic encephalopathy inMarch 2024. Furthermore, preparations are in process to file for manufacturing and marketing approval for LF111, which isunder development for the indication of contraception, during the first quarter of FY2024. As described under “4.
Supplemental material: (2) Product Pipeline,” three clinical trials are underway. Phase III trials are in process for LF111(drospirenone), intended for contraceptive indications. AKP-009 (ludaterone), now under joint development with Kyorin
Pharmaceutical Co., Ltd., is in Phase II trial stage and an additional Phase I trial is underway. Phase III trials have begun
for TRM-270, which is under joint development with Toray Industries, Inc. The trials are focused on the fields ofgastroenterology, and obstetrics and gynecology. A Phase I/II study of AKP-022 (relugolix combination tablets) was initiatedin July 2023. In terms of licensing and alliance activities, ASKA Pharmaceutical Co., Ltd. signed an agreement withSUSMED, Inc. for joint research, development, and post-launch marketing of therapeutic apps in obstetrics and gynecology
in September 2023. Moreover, ASKA Pharmaceutical and Red Arrow Therapeutics have signed a joint research agreement
to develop a new treatment for preeclampsia in March 2024.
Based on the above initiatives, R&D expenses in FY2023 were 4,728 million yen (up 500 million yen YoY).
(2) Overview of Financial Position for the Current Fiscal Year
(Assets)
Total assets at the end of the consolidated fiscal year under review stood at 90,745 million yen, up 3,607 million yen fromthe end of the previous consolidated fiscal year. This figure was due primarily to increases in merchandise and finishedgoods, and investment securities, despite a decrease in distributorship.
(Liabilities)
Total liabilities at the end of the consolidated fiscal year under review stood at 28,815 million yen, down 3,789 million yen
from the end of the previous consolidated fiscal year. This figure was due primarily to decreases in retirement benefit liability
and long-term borrowings (including current portion of long-term borrowings).
(Net assets)
Total assets at the end of the consolidated fiscal year under review stood at 61,930 million yen, up 7,396 million yen fromthe end of the consolidated fiscal previous year. This figure was due primarily to an increase in retained earnings
resulting from the recording of profit attributable to owners of parent.
The resulting equity ratio was 68.2%, up 5.6 percentage points from the end of the previous consolidated fiscal year.
(3) Overview of Cash Flow Position for the Current Fiscal YearThe balance of cash and cash equivalents at the end of the current consolidated fiscal year stood at 16,738 million yen,down 766 million yen from the end of the previous consolidated fiscal year.
The standing of each type of cash flow for the current fiscal year, and major contributing factors of each, are summarized
below.
(Cash flows from operating activities)
Net cash provided by operating activities was 1,486 million yen (vs. a gain of 3,351 million yen in the same period of theprevious year), due mainly to the recording of profit before income taxes, despite a decrease in retirement benefit liability.

- 3 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(Cash flows from investing activities)
Net cash provided by investing activities was 1,706 million yen (vs. a loss of 1,126 million yen in the same period of theprevious year). This was due mainly to sales of investment securities.
(Cash flows from financing activities)
Net cash used in financing activities was 3,943 million yen (vs. a loss of 1,820 million yen in the same period of the previousyear). This was due mainly to repayments of long-term borrowings.
(4) Future Outlook
Under the Medium-Term Management Plan that took effect beginning in FY2021, the Company is targeting Groupwide net
sale of 70 billion yen, operating profit of 8%, and ROE of 8% in FY2025, as it aims to be a total healthcare company basedon specialty pharma. While, as described under “(1) Operating Results for the Fiscal Year ended March 31, 2024,” theCompany has maintained solid financial results thanks to the efforts of each Group Company, it will carry out Groupwide
initiatives toward realization of these goals through further steady execution of growth strategies. In addition to promoting
sustainability management further, the Company will aim to help realize a sustainable society and for sustained growththrough creation of social value and increasing corporate value over the medium to long term.
Full-year consolidated performance forecasts for FY2024 (from April 1, 2024 to March 31, 2025)
FY2023
Consolidated
Cumulative Period(Millions of yen)

FY2024
Consolidated
Cumulative Period(Millions of yen)

(Millions of yen)(%)

Net sales

62,84363,000156

0.2%

Operating profit

6,500

6,700

199

3.1%

Ordinary profit

6,522

6,700

177

2.7%

ActualGrowthProfit attributable to
5,000(2,545)(33.7%)
7,545
owners of parent
Pharmaceutical business, the Group’s core business, is projected to record consolidated net sales of 63,000 million yen(up 0.2% YoY), thanks in part to the contributions of growth in obstetrics and gynecological products, despite the impact of
periodical NHI drug price revisions. A look at profits shows projections of 6,700 million yen (up 3.1% YoY) in operating
profit, 6,700 million yen (up 2.7% YoY) in ordinary profit, despite the projected increase in expenses, mainly R&D expenses.
Projected profit attributable to owners of parent is 5,000 million yen (down 33.7% YoY) due to the rebound from the gainon sales of investment securities that occurred in the fiscal year ended March 31, 2024.
(5) Basic Policy on Distribution of Earnings and Dividends in This and the Following Period
The Company’s basic policy calls for continued stable dividends while taking into comprehensive consideration securing
necessary funds for long-term business development. Internal reserves are utilized to enhance the corporate constitution,
targeting sustained future growth, through investment in areas such as R&D and production facilities. At the same time, theCompany also recognizes appropriate distribution of earnings reflecting revenue levels to be an important topic ofmanagement. Based on the "ASKA Pharmaceutical Holdings Takes Action to Implement Management That is Consciousof Cost of Capital and Share Price" announced in November 2023, the Company has shifted to a performance-linked profitsharing method, indicating a consolidated dividend payout ratio of 30%.
Based on the above considerations, and reflecting recent trends in business performance, the Company plans to pay yearend dividends of 20 yen per share, combined with the interim dividends of 20 yen per share already paid. This will result inannual dividends of 40 yen per share.
The Company plans to distribute earnings in the next period through an increase in annual dividends to 50 yen per share(interim and year-end dividends of 25 yen per share, respectively).

- 4 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

2.

Basic Thinking on Selection of Accounting Standards
To facilitate comparison of the consolidated financial statements of different fiscal periods and different companies, theGroup’s current policy is to use Japanese accounting standards in preparation of consolidated financial statements.
The Company intends to respond appropriately to application of International Financial Reporting Standards (IFRS) by taking
into account domestic and international conditions.

- 5 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

3.

Consolidated Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
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
Accumulated depreciation
Buildings and structures, net
Machinery, equipment and vehicles
Accumulated depreciation
Machinery, equipment and vehicles, net
LandConstruction in progress
Other
Accumulated depreciation
Other, net
Total property, plant and equipment
Intangible assets
Distributorship
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets- 6 -As of March 31, 2024

14,505
15,2173,400
10,815
429
6,443
2,948
53,75913,73815,5793,500
12,578
466
7,358
2,922
56,143

9,949(5,568)
4,381
17,612(16,266)
1,346
4,249
389
3,636
(3,208)428
10,796

10,005(5,813)
4,192
15,488(14,248)
1,240
4,249
1,101
3,762
(3,283)479
11,263

3,673
791
4,465

2,110
766
2,877

14,385
1,717
2,031
(17)
18,11733,37887,13815,654
2,696
2,127
(17)
20,461
34,60190,745

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(Millions of yen)
As of March 31, 2023
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Provision for bonuses
Provision for bonuses for directors (and otherofficers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
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-salesecurities
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeTotal net assets
Total liabilities and net assets- 7 -As of March 31, 2024

2,838
3,022
300
3,138
4,947
736
1,142

4,060
3,295
300
4,680
5,794
2,896
1,151

24

74

1,498
17,650

1,715
23,968

9,185
5,433
335
14,95432,604

4,505
－
341
4,846
28,815

1,197
1,847
49,619(3,350)49,315

1,197
1,848
56,372(3,287)56,130

4,590

4,790

405
222

424
584

5,218

5,799

54,53387,13861,93090,745

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income(Consolidated Statements of Income)Fiscal year ended
March 31, 2023
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using
equity method
Foreign exchange losses
Loss on disposal of non-current assets
Expenses of inactive non-current assets
Rental expenses on real estate
Contribution of ESOP trust
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on sale of investment securities
Total extraordinary income
Profit before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
ProfitProfit attributable to owners of parent- 8 -(Millions of yen)

Fiscal year ended
March 31, 2024

60,461
31,87628,584
23,476
5,108

62,84332,17830,664
24,164
6,500

0
338
94
433

4
330
79
414

50

40

19

41

43
52
53
6
51
31
308
5,232

51
13
91
55
－
98
392
6,522

124
124
5,357
1,108
10
1,118
4,238
4,238

3,340
3,340
9,862
3,514
(1,197)
2,316
7,545
7,545

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(Consolidated Statements of Comprehensive Income)(Millions of yen)
Fiscal year ended
March 31, 2023
ProfitOther comprehensive income
Valuation difference on available-for-salesecurities
Remeasurements of defined benefit plans, net oftax
Share of other comprehensive income of entities
accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent- 9 -Fiscal year ended
March 31, 2024
4,238

7,545

1,371

202

144

362

229

16

1,745
5,983

581
8,127

5,983

8,127

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(3) Consolidated Statement of Changes in Equity
Previous consolidated fiscal year (April 1, 2022 – March 31, 2023)(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of
periodCapital surplus Retained earnings Treasury shares

1,197

1,867

45,833(3,479)Total
shareholders'equity45,419Changes during period
Dividends of surplus

(452)

(452)

Profit attributable toowners of parent

4,238

4,238

Purchase of treasury
shares
Disposal of treasury
shares

(19)

(0)

(0)

129

109

Net changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period

Balance at beginning of
period

-

(19)

3,785

129

3,895

1,197

1,847

49,619(3,350)49,315

Accumulated other comprehensive income
Total
Valuation
Foreign currency Remeasurement accumulateddifference onothertranslations of defined
available-forcomprehensive
adjustment
benefit planssale securities
incomeTotal net assets

3,231

164

77

3,473

48,892

Changes during period
Dividends of surplus(452)

Profit attributable toowners of parent

4,238

Purchase of treasury
shares(0)

Disposal of treasury
shares109

Net changes in items
other thanshareholders' equity

1,359

241

144

1,745

1,745

Total changes during
period

1,359

241

144

1,745

5,641

Balance at end of period

4,590

405

222

5,218

54,533- 10 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

Current consolidated fiscal year (April 1, 2023 – March 31, 2024)(Millions of yen)
Shareholders' equity
Share capital
Balance at beginning of
periodCapital surplus Retained earnings Treasury shares

1,197

1,847

49,619(3,350)Total
shareholders'equity49,315

Changes during period
Dividends of surplus

(792)

(792)

Profit attributable toowners of parent

7,545

7,545

Purchase of treasury
shares
Disposal of treasury
sharesNet changes in items
other thanshareholders' equity
Total changes during
periodBalance at end of period

0

(0)

(0)

62

62

-

0

6,752

62

6,815

1,197

1,848

56,372(3,287)56,130

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities
Balance at beginning of
period

4,590

Total
Foreign currency Remeasurement accumulated
othertranslations of definedcomprehensive
adjustment
benefit plansincome
405

222

5,218

Total net assets

54,533

Changes during period
Dividends of surplus(792)

Profit attributable toowners of parent

7,545

Purchase of treasury
shares(0)

Disposal of treasury
sharesNet changes in items
other thanshareholders' equity
Total changes during
period

200

18

362

581

581

200

18

362

581

7,396

Balance at end of period

4,790

424

584

5,799

61,93062- 11 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(4) Consolidated Statements of Cash Flows(Millions of yen)
Fiscal year ended
March 31, 2023

Cash flows from operating activities
Profit before income taxes
Depreciation
Increase (decrease) in retirement benefit asset
and liability
Interest and dividend income
Interest expenses
Share of loss (profit) of entities accounted forusing equity method
Loss (gain) on sale and retirement of property,
plant and equipment
Loss (gain) on sale of investment securities
Decrease (increase) in trade receivables
Decrease (increase) in inventories
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes paid
Net cash provided by (used in) operating activities
Cash flows from investing activities
Proceeds from redemption of securities
Purchase of securities
Purchase of property, plant and equipment
Proceeds from sale of property, plant andequipment
Purchase of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Purchase of shares of subsidiaries andassociates
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Repayments of long-term borrowings
Net decrease (increase) in treasury shares
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash
equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period- 12 -

Fiscal year ended
March 31, 2024
5,357
3,127

9,862
2,662

(153)

(5,262)

(338)
50

(335)
40

19

41

6

2

(124)
(742)
(2,627)
(980)
322
3,916
337
(51)
(850)
3,351

(3,340)(370)(2,713)
1,494
642
2,724
414
(41)
(1,611)
1,486

－
(400)
(461)

400
(500)
(1,320)

0

1

(285)
－
190

(133)
(352)
4,230

－

(1,464)(170)(1,126)845
1,706(1,423)55(452)－(1,820)(3,138)
9
(792)
(22)
(3,943)

(2)

(15)

402

(766)

17,103
17,50517,505
16,738ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(5) Notes to the Consolidated Financial Statements(Notes concerning the going-concern assumption)
Not applicable.
(Changes to accounting policies)
Not applicable.
(Application of the Implementation Guidance on Accounting Standard for Fair Value Measurement)
Not applicable.
(Changes to accounting estimates)
Not applicable.
(Segment information etc.)
Segment information
1. Summary of reporting segments
The Group’s reporting segments are constituent units of the Company for which separate financial
information can be obtained. They are subject to review at regular intervals by the Board of Directors tomake decisions on allocation of corporate resources and to assess business performance.
The Group’s chief businesses include manufacture, sale, and import/export of medical pharmaceuticals andother products. Its two reporting segments are the pharmaceutical business and the animal health business.
The pharmaceutical business mainly manufactures and sells medical pharmaceuticals.
The animal health business mainly manufactures and sells products such as veterinary pharmaceuticals
and feed additives.
2. Methods of calculating amounts of net sales, profit/loss, assets, liabilities, and other items per reporting
segment
The account processing methods of reporting segments conform to the accounting policies employed in
preparation of the consolidated financial statements.
Figures for reporting-segment profits are based on operating profit.
Internal sales or transfers between segments are based on actual market prices.
3. Information regarding amounts of net sales, profit/loss, assets, liabilities, and other items per reporting
segment
Previous consolidated fiscal year (April 1, 2022 – March 31, 2023)(Millions of yen)
Reporting-segment

OthersPharmaceutical Animal healthbusinessbusinessAmountrecorded on
Amounts ofconsolidated
adjustments
financial
Note 2.
statements

Total

Note 1.

Note 3.

Net Sales
Sales to externalcustomers
Intersegment sales
and transfers

53,5796,660

22060,461－60,461

－

－

77

77

(77)

－

Total

53,5796,660

298

60,538(77)

60,461

Segment profit (loss)

5,779

409

(6)

6,181

(1,073)

5,108

Segment assets

40,1353,031

42

43,20943,92887,138

2,487

4

－

2,491

481

2,972

Other items
Depreciation
Notes:
1.

The “Other” business segment consists of businesses not included in the reporting segments,
including clinical testing and medical devices etc.

- 13 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

2.

Details of amounts of adjustments are provided below.
(1) The adjustment of (1,073) million yen to segment profit or loss (number in parentheses)
consists of companywide expenses not allocated to individual business segments, which
consist mainly of expenses related to the parent holding company(2) The adjustment of 43,928 million yen to segment assets consists of companywide assets
not allocated to individual business segments, which consist mainly of the Company’s
financial assets (cash and deposits, and investment securities) not attributable to businesssegments and assets related to administrative sections.
(3) The adjustment of 481 million yen to depreciation consists of depreciation not allocated toindividual business segments.

3.

Segment profit or loss (numbers in parentheses) is adjusted against operating profit on the
consolidated financial statements.

- 14 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

Previous consolidated fiscal year (April 1, 2022 – March 31, 2023)(Millions of yen)
Reporting-segment

OthersPharmaceutical Animal healthbusinessbusinessAmountrecorded on
Amounts ofconsolidated
adjustments
financial
Note 2.
statements

Total

Note 1.

Note 3.

Net Sales
Sales to externalcustomers
Intersegment sales
and transfers

56,0166,664

162

62,843－62,843

－

－

64

64

(64)

－

Total

56,0166,664

226

62,907(64)

62,843

Segment profit (loss)

7,647

195

(125)

7,717

(1,216)6,500

Segment assets

45,0343,514

39

48,58842,15790,745

2,227

4

－

2,231

201

2,432

Other items
Depreciation
Notes:
1.

The “Other” business segment consists of businesses not included in the reporting segments,

2.

including clinical testing and medical devices.
Details of amounts of adjustments are provided below.
(1) The adjustment of (1,216) million yen to segment profit or loss (number in parentheses)
consists of companywide expenses not allocated to individual business segments, which
consist mainly of expenses related to the parent holding company.
(2) The adjustment of 42,157 million yen to segment assets consists of companywide assets
not allocated to individual business segments, which consist mainly of the Company’s
financial assets (cash and deposits, and investment securities) not attributable to businesssegments and assets related to administrative sections.
(3) The adjustment of 201 million yen to depreciation consists of depreciation not allocated to3.

individual business segments.
Segment profit or loss (numbers in parentheses) is adjusted against operating profit on the
consolidated financial statements.

Related information
Previous consolidated fiscal year (April 1, 2022 – March 31, 2023)
1. Information on individual products and services
This information is omitted because the same information is discussed under segment information.
2. Information on individual regions(1) Net sales
This information is omitted because sales to external customers in Japan account for more than 90%
of net sales on the Consolidated Statements of Income.
(2) Property, plant and equipment
This information is omitted because no property, plant and equipment are located outside of Japan.
3. Information on individual main customers(Millions of yen)
Customer name

Net sales

Takeda Pharmaceutical Company Limited- 15 -

Related segment

52,293 Pharmaceutical businessASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

Current consolidated fiscal year (April 1, 2023 – March 31, 2024)
1. Information on individual products and services
This information is omitted because the same information is discussed under segment information.
2. Information on individual regions(1) Net sales
This information is omitted because sales to external customers in Japan account for more than 90%
of net sales on the Consolidated Statements of Income.
(2) Property, plant and equipment
This information is omitted because no property, plant and equipment are located outside of Japan.
3. Information on individual main customers(Millions of yen)
Customer name

Net sales

Takeda Pharmaceutical Company Limited

Related segment

54,564 Pharmaceutical businessInformation on impairment of non-current assets in each reporting segment
Not applicable.
Information on amortization of goodwill and unamortized balances in each reporting segment
Not applicable.
Information on gain on negative goodwill in each reporting segment
Not applicable.
(Notes to amounts per share)
Year ended March 31, 2023

Year ended March 31, 2024

Net assets per share

1,928.14 yen

2,186.10 yen

Earnings per share

150.08 yen

266.51 yen

Notes: 1. Diluted profit per share is not indicated because there were no dilutive shares.
2. The bases of calculation of profit per share are described below.
Year ended March 31, 2023

Year ended March 31, 2024

4,238 million yen

7,545 million yen--

Profit attributable to owners of parent related tocommon stocks

4,238 million yen

7,545 million yen

Average number of shares outstanding during
the period

28,239 thousands of shares

28,313 thousands of shares

Profit attributable to owners of parent
The amount which is not attributable to ordinary
shareholders

The Company’ shares held in the trust account for the employee share ownership plan are included in treasury sharesdeducted from the total number of shares issued at the end of the period for purposes of calculation of profit per share(8,000 shares in the previous consolidated fiscal year).
In addition, they are included in treasury shares deducted in calculation of average number of shares during the period,for purposes of calculation of profit per share (32,000 shares in the previous consolidated fiscal year).
(Significant subsequent events)
Not applicable.

- 16 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023

4.

Supplemental Material(1) Sales of Main Products
S a l e so f

M a i n

(

0

3

F

Y

2

2

P r o d u c t s
A

c

t

u

a

l

)

ASKA Pharmaceutical Co., Ltd.

(Millions of yen)
FY2022
ActualFY2023
Actual

8,839

9,906

12.1

11,251

10,723

9,593(10.5)

8,626

7,733

7,862

1.7

8,018

3,671

6,125

66.8

5,990

RIFXIMA(rifaximin)

5,397

5,864

8.7

6,117

LEUPRORELIN(leuprorelin)

4,999

4,430

(11.4)

3,962

3,489

3,303

(5.4)

3,101

1,251

2,029

62.1

2,106

1,486

1,521

2.3

1,510

901

840

(6.7)

806

Therapeutic category

Products

Uterine fibroid and

RELUMINA

endometriosis agent(relugolix)

Antihypertensive agent

CANDESARTAN*(candesartan)

Thyroid hormone agent
Dysmenorrhea agent

THYRADIN(levothyroxine)
DroEthi(drospirenone/
ethinylestradiol)

Poorly absorbable rifamycin
antimicrobial agent
LH-RH derivative
microcapsule sustainedrelease agent

ActualYOY (%)FY2024
Forecast

FREWELL
Dysmenorrhea agent
Progesterone hormone agent(norethisterone/
ethinylestradiol)
LUTEUM(Progesterone)
MERCAZOLE

Antithyroid agent(thiamazole)

Antihypertensive agent

AMLODIPINE(amlodipine)* Including compounding agents

ASKA Animal Health Co., Ltd.
Business field(Millions of yen)
FY2022

FY2023

ActualActualFY2024YOY (%)

Forecast

Feed additives, mixed feed, feed materials

4,152

4,042

(2.7)

4,031

Veterinary pharmaceuticals

2,370

2,487

4.9

2,534

- 17 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(2) Product Pipeline

Pipeline (as of May 10, 2024)
ASKA Pharmaceutical Co., Ltd.
Stage
Preparing forfiling *1

Development
code
LF111

Generic nameDrospirenone

Indication

Oral contraceptive

Notes
Licensor
Insud Pharma (Spain)

Prevention of intra-abdominal
Phase IIITRM-270

Adhesion barrier

organ adhesion in the postoperative period in the areasof gastroenterology and,obstetrics and gynecology

Phase II

Phase I/II

AKP-009

AKP-022

Ludaterone
AcetateRelugolix
combination

Benign prostatic hyperplasia

Co-development
Toray Industries, Inc.

In-house
Co-development:
KYORIN Pharmaceutical Co., Ltd.

Uterine fibroids

tablets

Licensor
Takeda Pharmaceutical Company
LimitedNote: Changes from last time
L-105 (rifaximin), which was in the process of filing, has received approval for partial change of the
manufacturing and marketing approval for the pediatric indication for the improvement ofhyperammonemia in hepatic encephalopathy.
Since LF111 (drospirenone) verified its contraceptive efficacy in a Phase III clinical trial in Japan,
preparations are underway for filing.

- 18 -

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for FY2023(3) (Consolidated) Capital Expenditures, Depreciation, Research and Development Expenses

1.

Capital Expenditures(Millions of yen)
FY2022

1,256

Full year

2.

FY2023

1,540

Depreciation
FY2023

3,127

Full year

FY2024

2,662

Research and Development Expenses(Forecast) 2,268(Millions of yen)

FY2022

Full year(Forecast) 2,761(Millions of yen)
FY2022

3.

FY2024FY20234,227

FY2024

4,728- 19 -(Forecast) 5,575