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 the Third Quarter of FY2023(from April 1, 2023 to March 31, 2024)<Based on Japanese GAAP>
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 to file Securities Report：
February 9, 2024
Scheduled date to commence dividend payments：
Preparation of supplementary material on financial results：
Yes
Holding of financial results meeting：No

February 5, 2024

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

TEL +81-3-5484-8366(Amounts less than one million yen are rounded down)
1. Consolidated financial results for the third quarter of FY2023 (from April 1, 2023 to December 31, 2023)(1) Consolidated operating results
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%
Third quarter of FY2023
48,824
3.3
5,526
9.6
5,631
7.3
6,458 54.4
Third quarter of FY2022
47,259
7.0
5,041
7.8
5,246
9.5
4,183
2.5
Note: Comprehensive income
Third quarter of FY2023(Millions of yen)
6,588
(19.0%)
Third quarter of FY2022(Millions of yen)
5,538
(30.1%)
Earnings per shareYen
228.13148.19

Third quarter of FY2023
Third quarter of FY2022(2) Consolidated financial position

As of December 31, 2023
As of March 31, 2023
Reference: Equity

Diluted earnings per
share
Yen
-

Total assets
Millions of yen
94,857
87,138

Net assets
Millions of yen
60,39154,533As of December 31, 2023

(Millions of yen)

60,391

As of March 31, 2023

(Millions of yen)

54,533

2. Cash dividends
1st quarter-end
Yen-

Equity ratio
%
63.7
62.6

Annual dividends per share
2nd quarter-end 3rd quarter-end Fiscal year-end
Yen
Yen
Yen
8.00
8.00
20.00
-

Year ended March 31, 2023
Year ending March 31, 2024
Year ending March 31, 2024
(Forecast)
Note: Revision from the dividends forecast currently announced: No

20.00

Total

Yen
16.00
40.00

3. Forecast of consolidated financial results for FY2023 (from April 1, 2023 to March 31, 2024)
Percentages indicate year-on-year changes
Net sales
Full year

Millions of yen
62,000Operating profit% Millions of yen
2.5
5,400

Ordinary profit% Millions of yen
5.7
5,500

Profit attributable toowners of parent% Millions of yen
5.1
6,200

Note: Revision from the forecast of consolidated financial results currently announced: No%
46.3

Earnings per share
Yen
219.01

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

Notes:(1) Changes in significant subsidiaries during the third quarter of FY2022(changes in specified subsidiaries resulting in the change in scope of consolidation):No(2) Application of special accounting methods for preparing quarterly consolidated financial statements:

No(3) 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(4) Number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares)
As of December 31, 2023

30,563,199

As of March 31, 2023

30,563,199

As of March 31, 2023

2,280,061

2) Number of treasury shares at the end of the period
As of December 31, 2023

2,233,957

3) Average number of shares during the period (cumulative from the beginning of the fiscal year)
Third quarter of FY2023

28,308,608

Third quarter of FY2022

28,227,429* 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
Projections of business results and other forward-looking statements contained in this document are based on assumptions
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. Qualitative Information on Quarterly Financial Results (3) Description of Forward-looking
Information such as Forecasts of Consolidated Financial Results" for the assumptions used in forecasting business results andprecautions regarding the use of business results forecasts.

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

CONTENTS
1.

2.

3.

Qualitative Information on Quarterly Financial Results……………………………………………………………….
(1) Description of Operating Results……………………………………………………………………………………

22(2) Description of Financial Position…..………………………………………………………………………………..
(3) Description of Forward-looking Information such as Forecasts of Consolidated Financial Results…..……..

2
3(4) Description of Research and Development…..……………………………………………………………………
Quarterly Consolidated Financial Statements ...………………………………………………………………………

3
4(1) Quarterly Consolidated Balance Sheets…..……………………………………………………………………….
(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive
Income…………………………………………………………………………………………………………………
Quarterly Consolidated Statements of Income
Third quarter of the consolidated fiscal year.……………………………………………………………………
Quarterly Consolidated Statements of Comprehensive Income
Third quarter of the consolidated fiscal year……………………………………………………………………..
(3) Notes to the Quarterly Consolidated Financial Statements……...………………………………………………
(Notes concerning the going-concern assumption) ………………………………………………………………
(Significant changes in the amount of shareholders' equity)………………………………………………..……

4(Segment information etc.) ……………………………………………………………………………….…………
Supplemental Material……………………………………………………………………………………………………

78(1) Sales of Main Products of Business Companies…………..………………….………………………..…………

8

- 1 -

5
5
6
7
7
7

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

1. Qualitative Information on Quarterly Financial Results(1) Description of Operating Results
During the third quarter of the current fiscal year, although a gradual recovery trend continued against the backdrop ofa pickup in domestic economic activities, the business environment remained uncertain due to such factors as ongoinghigh prices of resources and materials and sharp exchange rate fluctuations caused by the unstable internationalsituation. The pharmaceutical business, which is at the core of the Group, continued to show a favorable trend following
the previous fiscal year, despite the challenging business conditions caused by the periodical NHI drug price revisions
and other factors.

Operating Results during the third quarter of the consolidated fiscal year are described below.
Third Quarter ofThird Quarter of
FY2022
FY2023
ActualConsolidated
Consolidated
Cumulative Period
Cumulative Period(Millions of yen)
(Millions of yen)
(Millions of yen)

Growth(%)

Net sales

47,25948,824

1,564

3.3

Operating profit

5,041

5,526

484

9.6

Ordinary profit

5,246

5,631

384

7.3

Profit attributable toowners of parent

4,183

6,458

2,275

54.4

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 results in the obstetrics and gynecology area were driven by the large-scale growth in
the uterine fibroid and endometriosis agent RELUMINA (relugolix), to 7,873 million yen (up 12.6% YoY), and thedysmenorrhea agent DroEthi (drospirenone/ ethinylestradiol), which went on sale in June 2022, largely drove
performance with sales of 4,604 million yen (up 81.4% YoY). Sales also grew in the internal medicine area, as salesof the thyroid hormone agent THYRADIN (levothyroxine), our main product in this field, grew to 6,104 million yen (up1.2% YoY) and those of the poorly absorbable rifamycin antimicrobial agent RIFXIMA (rifaximin) to 4,572 million yen(up 8.1% YoY). In the urology field, sales of the LH-RH derivative microcapsule sustained-release agent
LEUPRORELIN (leuprorelin) were 3,476 million yen (down 11.5% YoY).
As a result of the above factors, the segment sales were 43,603 million yen (up 4.0% YoY), and segment profit was
6,346 million yen (up 17.1% YoY).
(ii) Animal health business
Sales of the animal health business, which sells products such as veterinary pharmaceuticals and feed additives,
were 5,096 million yen (down 1.7% YoY), maintaining the same level as the previous year. However, the segment
profit was 186 million yen (down 55.3% YoY) due to rising costs of raw materials and other items.

(iii) Other businesses
Sales results for other businesses, which include clinical testing and medical devices, were 124 million yen (down
19.9% YoY). Segment loss was 103 million yen (vs. a loss of 26 million yen in the same period of the previous year).
(2) Description of Financial Position(Assets)
Total assets at the end of the third quarter of the consolidated fiscal year under review stood at 94,857 million yen,
up 7,719 million yen from the end of the previous consolidated fiscal year. This figure was due primarily to increases
in accounts receivable - trade, cash and deposits, and raw materials and supplies despite decreases in intangible
assets.
(Liabilities)
Total liabilities at the end of the third quarter of the consolidated fiscal year under review stood at 34,465 million yen,
up 1,861 million yen from the end of the previous consolidated fiscal year. This figure was due primarily to increases
in notes and accounts payable – trade and in other current liabilities, despite decreases in long-term borrowings andshort-term borrowings.
- 2 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for the Third Quarter of FY2023(Net assets)
Total net assets at the end of the third quarter of the consolidated fiscal year under review stood at 60,391 million
yen, up 5,858 million yen from the end of the previous consolidated fiscal year. This figure was due primarily to anincrease in retained earnings resulting from the recording of profit attributable to owners of parent.
The resulting equity ratio was 63.7%, up 1.1 percentage points from the end of the previous consolidated fiscal year.
(3) Description of Forward-looking Information such as Forecasts of Consolidated Financial Results
Forecasts of consolidated financial results for the period ending March 31, 2024 (FY2023) are unchanged from thefull-year consolidated performance forecasts in the “Notice of Revisions to the Forecast of Consolidated Financial
Results for FY2023,” published on September 25, 2023.
(4) Description of Research and development
R&D expenses during the third quarter of the consolidated fiscal year stood at 3,429 million yen.

- 3 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for the Third Quarter of FY2023

2.

Quarterly Consolidated Financial Statements(1) Quarterly 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
Intangible assets
Investments and other assets
Investment securities
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable - trade
Electronically recorded obligations - operating
Short-term borrowings
Income taxes payable
Other provisions
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- 4 -As of December 31, 2023

14,505
15,2173,400
10,815
429
6,443
2,948
53,75917,45418,3072,900
11,641
255
7,817
3,582
61,95910,796
4,465

10,594
3,180

14,3853,748(17)
18,11733,37887,13815,3153,824(17)
19,12232,89894,857

2,838
3,022
3,438
736
1,167
6,445
17,650

4,722
3,916
3,180
1,616
564
7,520
21,520

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

6,925
5,680
339
12,94534,465

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

1,197
1,848
55,284(3,287)55,043

4,590

4,458

405
222

691
198

5,218

5,348

54,53387,13860,391
94,857

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for the Third Quarter of FY2023(2) Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income(Quarterly Consolidated Statements of Income)(Third quarter of the consolidated fiscal year)(Millions of yen)
Nine months ended
December 31, 2022

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
Expenses of inactive non-current assets
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- 5 -Nine months ended
December 31, 2023

47,25924,89322,366
17,324
5,041

48,82425,19323,631
18,104
5,526

0
331
70
402

3
321
53
378

38
40
118
197
5,246

31
72
169
273
5,631

121
121
5,367
1,036
148
1,184
4,183
4,183

2,889
2,889
8,520
2,151
(88)
2,062
6,458
6,458

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for the Third Quarter of FY2023(Quarterly Consolidated Statements of Comprehensive Income)(Third quarter of the consolidated fiscal year)(Millions of yen)
Nine months ended
December 31, 2022

ProfitOther comprehensive income
Valuationdifferenceonavailable-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- 6 -Nine months ended
December 31, 2023

4,183

6,458

858

(131)

20

(23)

477

285

1,355
5,538

130
6,588

5,538

6,588

ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for the Third Quarter of FY2023(3) Notes to the Quarterly Consolidated Financial Statements(Notes concerning the going-concern assumption)
Not applicable.
(Significant changes in the amount of shareholders' equity)
Not applicable.
(Segment information etc.)
I.

Previous third quarter of the consolidated fiscal year (from April 1, 2022 to December 31, 2022)
Net sales and profit or loss (numbers in parentheses) by reporting segment(Millions of yen)
Reporting-segment
Pharmaceutical Animal healthbusinessbusiness

Others
Note 1.

Amountrecorded on
Amounts ofconsolidated
adjustments
financial
Note 2.
statements

Total

Note 3.

Net Sales
Sales to externalcustomers
Intersegment sales
and transfers

41,916

5,187

155

47,259－47,259

－

－

41

41

(41)

－

Total

41,9165,187

196

47,300(41)

47,259Segment profit/loss

5,418

417

(26)

5,809

(767)

5,041

Notes:
1. The “Other” business segment consists of businesses not included in the reporting segments,
including clinical testing and medical devices.
2. The adjustment of (767) million yen to segment profit or loss consists of companywide expenses notallocated to individual business segments, which consist mainly of general and administrative
expenses not attributable to business segments.
3. Segment profit or loss is adjusted against operating profit on the quarterly consolidated statements
of income.
II.

Current third quarter of the consolidated fiscal year (from April 1, 2023 to December 31, 2023)
Net sales and profit or loss (numbers in parentheses) by reporting segment(Millions of yen)AmountReporting-segment
recorded on
Amounts ofconsolidated
OthersTotal
adjustments
financial
Note 1.
Pharmaceutical Animal health
Note 2.
statements
businessbusiness
Note 3.

Net Sales
Sales to externalcustomers
Intersegment sales
and transfers

43,603

5,096

124

48,824－

48,824

－

－

41

41

(41)

－

Total

43,603

5,096

166

48,866(41)

48,824

Segment profit/loss

6,346

186

(103)

6,429

(903)

5,526

Notes:
1. The “Other” business segment consists of businesses not included in the reporting segments,
including clinical testing and medical devices.
2. The adjustment of (903) million yen to segment profit or loss consists of companywide expenses notallocated to individual business segments, which consist mainly of general and administrative
expenses not attributable to business segments.
3. Segment profit or loss is adjusted against operating profit on the quarterly consolidated statements
of income.
- 7 -ASKA Pharmaceutical Holdings Co., Ltd. (securities code: 4886) Consolidated Financial Results for the Third Quarter of FY2023

3.

Supplemental Material(1) Sales of Main Products of Business Companies
S a l e s
(

F

Y

2

o f
0

2

M a i n3

3

P r o d u c t s

Q

A

c

t

u

a

l

)

ASKA Pharmaceutical Co., Ltd.

(Millions of yen)
FY2023

FY2022
Therapeutic category

Products

3Q
ActualFY2022
Actual3Q
ActualFY2023
Forecast

3Q Actual
YOY(%)

Uterine fibroid andendometriosis agent

RELUMINA(relugolix)

6,995

8,839

7,873

10,234

12.6

Antihypertensive agent

CANDESARTAN*(candesartan)

8,464

10,723

7,558

9,497

(10.7)

Thyroid hormone agent

THYRADIN(levothyroxine)

6,031

7,733

6,104

7,720

1.2

Dysmenorrhea agent

DroEthi(drospirenone/
ethinylestradiol)

2,538

3,671

4,604

6,096

81.4

Poorly absorbable rifamycin
antimicrobial agent

RIFXIMA(rifaximin)

4,230

5,397

4,572

5,762

8.1

LH-RH derivative
microcapsule sustainedrelease agent

LEUPRORELIN(leuprorelin)

3,930

4,999

3,476

4,381

(11.5)

Dysmenorrhea agent

FREWELL(norethisterone/
ethinylestradiol)

2,718

3,489

2,556

3,253

5.9

Progesterone hormone agent

LUTEUM(progesterone)

918

1,251

1,505

2,050

63.9

Antithyroid agent

MERCAZOLE(thiamazole)

1,163

1,486

1,180

1,489

1.4

Antihypertensive agent

AMLODIPINE(amlodipine)

710

901

655

821

(7.7)

* Including compounding agents

ASKA Animal Health Co., Ltd.

(Millions of yen)
FY2023

FY2022Business field

3Q
ActualFY2022
Actual3Q
ActualFY2023
Forecast

3Q Actual
YOY(%)

Feed additives, mixed feed, and feed materials

3,258

4,152

3,014

3,848

(7.5)

Veterinary pharmaceuticals

1,832

2,370

1,957

2,515

6.8

- 8 -