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.

August 8, 2024
To whom it may concern:
TOWA PHARMACEUTICAL CO., LTD.

Notice of Revisions of Financial Forecasts
In view of its recent financial performance, Towa Pharmaceutical Co., Ltd. (Head office:Kadoma, Osaka; President and Representative Director: Itsuro Yoshida) has revised its
consolidated financial forecasts for the six months ending September 30, 2024 (from April 1,2024 to September 30, 2024) and the fiscal year ending March 31, 2025 (from April 1, 2024 toMarch 31, 2025), which were previously announced on May 14, 2024 at the time of theannouncement of financial results for the fiscal year ended March 31, 2024, as follows:
1. Revision of the consolidated financial forecasts for the six months ending September 30, 2024
(from April 1, 2024 to September 30, 2024)
OperatingprofitOrdinary
profitof

Millions ofyen

Millions
yen

122,800
122,800
00.0

5,200
6,800
1,600
30.8

5,200
6,800
1,60030.8

3,100
4,100
1,000
32.3

62.98
83.30

107,396

7,003

10,233

6,953

141.26

Net sales
Millionsyen

Previous forecast (A)Revised forecast (B)Changes (B-A)
Percentage changes(Reference) Results forthe previous fiscal year
(First half of the fiscal year
ended March 31, 2024)

ofProfit attributableto owners of parent

Earnings
shareMillions of yen

Yen

per

2. Revision of the consolidated financial forecasts for the fiscal year ending March 31, 2025
(from April 1, 2024 to March 31, 2025)
OperatingprofitOrdinary
profitofMillions ofyen

Millions
yen261,500261,500
0
0.0

18,00019,6001,600
8.9

17,60019,2001,600
9.1

11,60012,6001,000
8.6

235.67255.99227,934

17,647

24,477

16,173328.59Net sales
MillionsyenPrevious forecast (A)Revised forecast (B)Changes (B-A)
Percentage changes(Reference) Results forthe previous fiscal year
(Full year of the fiscal year
ended March 31, 2024)

ofProfit attributableto owners of parent

Earnings
shareMillions of yen

Yen

per

3. Reason for the revision
With regard to the consolidated financial forecasts for the six months ending September 30,2024 and the fiscal year ending March 31, 2025, we are maintaining the previously announced
forecast for sales as we expect sales to progress as planned.

Operating profit is expected to exceed the previously announced forecast, mainly due to thefact that outsourced manufacturing costs planned for the first half of the year are expected to
be lower than expected.
Ordinary profit and profit attributable to owners of parent are expected to exceed thepreviously announced forecast due to an increase in operating profit.
Approximately 3 billion yen in foreign exchange gains and gain on valuation of derivatives
was recorded as non-operating income for the first quarter of the consolidated accounting
period. However, due to uncertainties in the financial market environment and exchange rate
trends, etc., it is not expected to occur in this first-half and full-year consolidated financial
forecast, as was the case in the previous announcement.
Note: The above forecasts were prepared on the basis of available information at the time of the release of thisnotice. Actual performance may differ from the forecasts due to various factors in the future.

End of Notice