MEDICAL SYSTEM NETWORK Co., Ltd.
Second Quarter of Fiscal Year Ending March 2023

Earnings Report

Prime Market of Tokyo Stock Exchange ; Securities Code: 4350

About contents covered* The contents of this report pertaining future earnings described are based on information

the company has held, and on certain assumptions supervising rational judgement, andare not what the company promises to achieve. There are numerous factors that may
cause actual earnings to differ. Caution is given to the accuracy of information, and we donot take responsibility for loss etc., as a result of misinformed information.

* Furthermore, this report is not prepared for the purposes of investment solicitation.

Readers are responsible for their own judgement in any decision regarding investments.

Please see the following link for our English information.

https://www.msnw.co.jp/eng/

2

FY3/2023 2Q : Topics and Business Overview


2nd Quarter Results
Profits decreased from the same period of the previous FY,
but mostly remained broadly in line with our forecast‐ vs Forecast ‐• Overall sales and profits were broadly in line with forecasts
 In terms of profit, the three pharmacy support
businesses (Pharmaceutical Network Business,
Manufacture and Market Pharmaceuticals Business,and Digital Shift Business) performed well, while theCommunity Pharmacy Business and Leasing andFacility related Business fell slightly short of theforecast‐ YoY change ‐•Net sales increased due to the contribution both of newly
opened community pharmacies and pharmacies acquired
through M&A
The steady growth in the number of new affiliates of thepharmaceutical network also contributed to Net sales
increasing Dispensing fees for all pharmacies +1.5% (YoY)•

Profits decreased due to NHI price and dispensing fee
revisions, strengthening of interpersonal work at
Community pharmacies, and an increase in labor costs in
Leasing and Facility related Businesses to strengthen
sales and marketing

Figures in parentheses indicate changes from the end of the previous FY＜ Community Pharmacy Network Segment ＞
Community Pharmacy
Prescription Unit price(All pharmacies)
No. of prescriptions (All pharmacies)
No. of prescriptions (Existing pharmacies)

427 pharmacies（+2）*
10,061 yen（-193 yen）*
4,517K （+3.4%）*
4,316K （+1.2%）* YoY~ The three pharmacy support businesses ~Pharmaceutical Network affiliates

8,173 affiliates （+772）

FELDSENF PHARMA•
No. of ingredients•
No. of products•
No. of affiliates

42 ingredients（+1）
85 products（+3）
1,886 affiliates（+188）

Tsunagaru Pharmacy•
User registrations•
Order received pharmacies•
Installed pharmacies

440K（+130K）
2,866pharmacies（+1,223）
2,332 pharmacies（+1,421）＜ Leasing and Facility related Segment ＞
Wisteria•
Occupancy rate of all 5 facilities

80.6%（-2.7%）

3

Table of Contents

Earnings Highlight・・・

5

Business Summary and Core Strategies

・・・

12

Earnings Forecast for FY3/2023 and Interim ・・・
dividend

24

4

1
Earnings
Highlight

5

FY3/2023 2Q : Consolidated results

FY3/2022
2Q (results)

FY3/2023
2Q (forecast)

FY3/2023
2Q (results)（Unit: million yen）

Net sales

52,16953,46053,340EBITDA*1

3,253

2,400

2,537

6.2%

4.5%

4.8%

1,862

1,120

1,099

3.6%

2.1%

2.1%

2,235

1,260

1,242

4.3%

2.4%

2.3%

1,431

590

502

2.7%

1.1%

0.9%

47.46

19.55

16.64

Profit margin

Operating profit
Profit margin*2

Ordinary profit
Profit margin

YoY
ChangeProgress rate v.s. forecast
Change (%)

Difference

Differrence (%)+ 1,170+ 2.2%

(119)

99.8%

(716)

(22.0%)+ 137

105.7%(762)(40.9%)

(20)

98.2%

(992)

(44.4%)

(17)

98.6%

(929)

(64.9%)

(87)

85.1%

Profit attributable toowners of parent
Profit margin

Earnings per share(Yen)(30.82)－(2.91)－*1 EBITDA is the calculated value of “operating profit + depreciation + amortization of goodwill”*2 Includes 366 million yen in subsidy income for countermeasures against COVID-19

6

FY3/2023 2Q : Results in each segment part
■Net sales（Unit: million yen）

Net sales
Community Pharmacy
Network Segment*1

Other 3 Segments*2

Adjustments

FY3/2022
2Q (results)

YoY

FY3/2023
2Q (results)

ChangeChange(%)

52,16953,340+ 1,170+ 2.2%

49,66350,792+ 1,129+ 2.3%

2,856

2,959

+ 103

+ 3.6%

(350)

(412)

(62)

1,862

1,099

(762)

3.6%

2.1%

(1.5pt)

2,885

2,384

(501)

5.8%

4.7%

(1.1pt)

20

(108)

(129)

0.7%

－

－

(1,043)(1,175)

(131)

－

－

－

－

■Operating profit(Unit: million yen)
Profit margin in brackets

Segment profit
Community Pharmacy
Network Segment*1

Other 3 Segments
Adjustments*2(40.9%)(17.4%)－－*1 Community Pharmacy Business, Pharmaceutical Network Business, Manufacture and Market Pharmaceuticals Business, and Digital Shift Business*2 Leasing and Facility related Segment, Meal Catering Segment, and Home Visit Nursing Segment7FY3/2023 2Q : Comparison to previous FY■ Net sales(Unit: million yen)
50,000FY3/2022 2Q
results
2022/3期
第２四半期

51,00052,00053,0001,862Community Pharmacy
地域薬局(773) *

Pharmaceutical
医薬品ネットワーク
network+ 325

Manufacture and医薬品製造販売
MarketPharmaceuticals

1,800

2022/3期
FY3/2022第２四半期
2Q results+ 711

Pharmaceutical
医薬品ネットワーク
network(Unit: million yen)

800

54,00052,169Community Pharmacy
地域薬局■ Operating profit

+ 465

+ 275

Manufacture and医薬品製造販売
MarketPharmaceuticals

+ 40
(40)

デジタルシフト
Digital Shift+ 39

デジタルシフト
Digital Shift

Leasing and Facility
賃貸設備
related+ 136

Leasing and賃貸設備
Facility
relatedMeal Catering
給⾷

(31)

Meal Catering
給⾷

(34)

Home
visit
訪問看護
Nursing(1)

Home visit
訪問看護
Nursing

+2

Other
その他

(473)

Other
その他

(136)

2023/3期2Q
第２四半期
FY3/2023
results

53,340FY3/2023 2Q
results
2023/3期
第２四半期

(97)

1,099

* Existing pharmacies : No. of prescriptions & Unit price factors (308) ,Labor cost (227) , Opening of new pharmacies : (126)8

FY3/2023 2Q : Comparison to original forecast■ Net sales(Unit: million yen)
51,000計画
FY3/20232023/3期
2Q forecast

52,00053,000■ Operating profit

54,000900

2023/3期計画
FY3/2023
2Q forecast

53,460(Unit: million yen)
1,000

1,100

1,120

+ 19

地域薬局
Community Pharmacy(51)

医薬品ネット…
Pharmaceutical
network+3

医薬品ネットワーク
Pharmaceutical
network+ 69

医薬品製造販売
ManufactureandMarketPharmaceuticals
デジタルシフト
Digital Shift(57)

医薬品製造販売
Manufacture andMarketPharmaceuticals
デジタルシフト
Digital Shift

賃貸設備
Leasing and Facility
related(2)

賃貸設備
Leasing and Facility
related

その他
Other

(79)

その他
Other

Community Pharmacy
地域薬局2023/3期実績
FY3/2023
2Q results(4)

53,3402023/3期実績
FY3/2023
2Q results

1,200

+10
+ 10
(60)
+1
1,099

9

FY3/2023 2Q : Consolidated balance sheet■End of FY3/2022（Unit: million yen）

■End of FY3/2023 2Q（Unit: million yen）

Assets62,941 Liabilities

49,654

Assets64,124 Liabilities

50,527

Current assets

18,701 Current liabilities

20,435Current assets

18,721 Current liabilities

20,966

Cash and deposits

8,201 Short-term loans*1

5,772

Cash and deposits

6,774 Short-term loans*1

6,178

Fixed liabilities

29,219Fixed liabilities

29,561

Fixed assets

44,239 Long-term loans

22,891

Fixed assets

45,402 Long-term loans

20,592

Tangible fixed assets

24,624 Net assets

13,286

Tangible fixed assets

26,307 Net assets

13,596

Intangible fixed
assets12,767 Capital stock

2,128

Intangible fixed
assets12,292 Capital stock

2,128

Goodwill

12,254 Capital surplus

1,182

Goodwill

11,689 Capital surplus

1,182

Investments andother assets

6,848 Retained earnings

10,393

Investments andother assets

6,802 Retained earnings

10,681

Treasury stock(326)

Treasury stock(326)

Total assets

62,941

Total liabilities andnet assets

Equity ratio*2（Equity ratio with taking into account net cash

64,124

Total liabilities andnet assets

62,941

Total assets

21.1%

Equity ratio

24.2%)（Equity ratio with taking into account net cash

64,12421.2%*2

23.7%)*1 Includes long-term loans that will be repaid within the year
*2 Own capital / (Total assets – Cash and deposits)10FY3/2023 2Q : Consolidated cash flows
Cash flows fromoperating activities

1,701
million yen

Cash flows frominvesting activities(902)
million yen

Cash flows from financing
activities(2,226)

EBITDA*
Income taxes paid
Changes in working capital

2,537 million yen(572) million yen(743) million yen* Calculated by “operating profit + depreciation + amortization of goodwill”

Opening of new pharmacies
Existing pharmacies(System development , Acquisition ofequipment and fixtures, etc.)
Loan amount reduced(365) million yen(362) million yen(1,892) million yen

million yen

112
Business
Summary12

FY3/2023 : Core strategies

Republish

Core strategies and numerical targets for the current fiscal year
Community
Pharmacy
Business

Community
Pharmacy
Network
Segment

Pharmaceuticals *Network Business
Manufacture and*MarketPharmaceuticals
Business
Digital Shift*

Strengthening interpersonal work and provide quality drug treatment

Acquisition of prescriptions using on-line (LINE, prescription transmission) tools

Development of 15 pharmacies, mainly in medical malls

8,900 affiliates at the end of March 2023 (+1,499 YoY)

Building a system to reach 12,000 affiliates longer termFurther promotion of streamlined distribution

Expansion of services for affiliates

Expand clientele, primarily amongst our pharmaceutical network affiliates→ Target 2,700 at the end of March 2023 (+1,002 YoY）



Expansion of pharmacies with official LINE accounts→ Target Order received 4,400 (+2,757 YoY) / Installed 3,400(+2,489 YoY) at theend of March 2023

Business
Leasing and facility related Segment

Achieve 90% occupancy ; steady operation

Meal Catering Segment, Home Visit
Nursing Segment

Safety-first operation

Steady balance of payments

FinanceSecuring profits through cost control

ESG/Health management

Projects according to SDGs; promote CSR activities* 3 Pharmacy Support Businesses
13Community Pharmacy Business :Trends in number of pharmacies
4 new outlets and 2 outlet closures since the end of previous FY
ポイント〔Medical Mall〕〔Medical Mall〕

Hokkaido area

123
outlets〔 Nanohana Pharmacy
Sagamihara Hoshigaoka〕〔Located near medical institutions〕〔Nanohana Pharmacy Toranomon 〕〔Medical Mall〕

Tohoku area

Chugoku/Shikoku area

24 outlets

21 outlets
Kyushu area

Kanto/Koshinetsu area

63 outlets〔 Nanohana Pharmacy Harima
Himeji Medical Center 〕

99 outlets

Kinki area

Tokai/Hokuriku area

53 outlets

44 outlets〔Nanohana Pharmacy Magome Station〕(as of September 30, 2022)※

FY3/2014

FY3/2015

FY3/2016

FY3/2017

FY3/2018

FY3/2019

FY3/2020

FY3/2021

FY3/2022

FY3/2023
2Q

Openings

14

10

9

8

8

5

8

7

12

4

Closings and transferring ofbusinesses

(7)

(13)

(8)

(4)

(5)

(14)

(15)

(13)

(6)

(2)

M&A

45

27

7

20

19

30

3

6

3

0

Number of outlets

321

345

353

377

399

420

416

416

425

427

14

Community Pharmacy Business :Monthly dispensing fee（YoY)

Dispensing fee of all pharmacies (YoY)

2nd half total
all pharmacies +2.5%
existing pharmacies +0.7％

Dispensing fee of existing pharmacies (YoY)
6.9
5.6

5.6
4.4

4.2
1.2

3.4

3.2

5.3

1.6
4.5

4.4

(1.8)
2.8

3.2
1.7

2.1

0.6

0.5

5.2

3.9
0.9
(1.7)

1.5
(0.6)

May

Jun

Jul

Aug

Sep

(1.1)

3.3
0.9

(0.7)
(2.3)

1st half total
all pharmacies +3.7%
existing pharmacies +2.6％

Apr

1.9

(0.5)

(3.4)

2021

2.7

1.6

(2.5)

1st half total
all pharmacies +1.5%
existing pharmacies +0.0％

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

2022

* Existing pharmacies definition : Pharmacies that have been continuously open since April 1, 2020 for the previous FY and since April 1,
2021 for the current FY

15

Community Pharmacy Business :Monthly prescription volume and unit price of Existing Pharmacies（YoY)
Despite an increase in the no. of prescriptions, the unit price of prescriptions declined due to the impact of therevision of dispensing fees
Unit price (YoY)

2nd half total
Unit price +0.2%
No. of prescription +0.5％

No. of prescriptions (YoY)

12.2
10.7

6.8
5.4
5.3

2.9

3.6

2.1

2.1

3.5

2.8

1.9
(0.6)

(0.2)
0.8
(5.6)

(1.8)

0.1

0.0

0.7
(1.5)

(2.2)

3.7

(1.9)

(3.2)

(3.2)

(2.4)

(1.7)

(0.8)

(1.7)

1.8

(0.4)

(2.1)

(2.0)

(0.9)

(10.4)

1st half total
Unit price (3.2%)
No. of prescription +5.9％

Apr
2021

May

Jun

Jul

Aug

Sep

1st half total
Unit price (1.2%)
No. of prescription +1.2％

Oct

Nov

Dec

Jan
2022

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

16

Community Pharmacy Business : Dispensing fee breakdown
FY3/2022
2Q■All pharmacies
No. of prescriptions (1,000)

Unit price(yen)

Drug charge perprescription
Technical fee perprescription
Total

Dispensing fee (million yen)

FY3/2023
2Q

ChangeChange

(%)

4,367

4,517

+ 149

+ 3.4%

7,819

7,634

(185)

(2.4%)

2,435

2,427

(8)

(0.3%)

10,254

10,061(193)(1.9%)

44,78445,448+ 663+ 1.5%

4,263

4,316

+ 52

+ 1.2%

7,805

7,680

(126)

(1.6%)

2,439

2,444

+5

+ 0.2%

10,244

10,123(120)(1.2%)

43,673

43,694+ 21+ 0.0%■Existing pharmacies
No. of prescriptions (1,000)

Unit price(yen)

Drug charge perprescription
Technical fee perprescription
Total

Dispensing fee (million yen)

*Dispensing fees are calculated based on the number of prescriptions x unit price of prescriptions

17

Community Pharmacy Business : Dispensing fee revision
Acquisition of dispensing fee is progressing mostly as planned. We are continuing to focus oninterpersonal services

Basic dispensing fee ratio(points)
Pre-revission :Basic fee 1
Basic fee 2
Basic fee 3-b
Special basic fee

42
26
16
9

Post-revission :Basic fee 1
Basic fee 2
Basic fee 3-b
Basic fee 3-cSpecial basic fee

42
26
16
32
7

FY3/2022（End of Mar. 2022）

FY3/2023 2Q(End of Sep. 2022)

FY3/2023 plan（End of Mar. 2023）

Pre-revission Results

Post-revission Results

Target9points
5outlets
1.2%
16points
42points
178outlets 239outlets
41.9%
56.2%
26points
3outlets
0.7%

42points

42points
26points
1.2%
4outlets
0.9%
7points
7points
16points
2.1% 32points
6outlets
170outlets
1.4% 32points
56.1%
39.8%

5outlets
1.2%

26points
0.9%
16points
39.7%

242outlets

56.7%

Weighted average per prescription Weighted average per prescription1 Weighted average per prescription
31.4 points
25.8 points
25.6 points

Generic drug dispensing premium ratio(points)
Pre-revission :85% or higher
80% or higher
75% or higher

28
22
15

Post-revission :90% or higher
30
85% or higher
28
80% or higher
21

Community support system premium ratio(points)
Post-revission :Pre-revission :Community support
system premium
38

Additional fee for community
support system 1
39
Additional fee for community
support system 247
Additional fee for community
support system 3
17Additional fee for community
support system 4390point42outlets
15points 9.9%
45outlets
10.6%
28points
248outlets
58.3%
22points
90outlets
21.2%

0points
58outlets 30points
21points13.6% 117outlets
27.4%
79outlets
18.5%
28points
173outlets
40.5%

0point
15.3% 30points
22.1%
21points
22.5%
28points
40.1%

Weighted average per prescription Weighted average per prescription Weighted average per prescription
21.8 points
22.6 points
21.9 points
39points
39points
40outlets
8.2%
9.4％(additional
0points（additional
0pointfee 1)
38points
160outlets
fee 1）
0point199outlets
35.3%
47points
47points
226outlets 46.8%
39points 37.5%
37.3%
4outlets
157outlets
53.2%
39points
0.9％
36.7%
0.2% 17points
17points（additional(additional 19.0%
66outlets
fee 4）
fee 4)
15.5%
Weighted average per prescription Weighted average per prescription Weighted average per prescription
19.7 points
25.5 points
25.7 points

18

Community Pharmacy Business :Pharmacists and Staff working together to become the Pharmacy of Choice
Promotion of interpersonal work by pharmacists and strengthening of hospitality services from staff■Promotion of home healthcare support and deeper

Family Pharmacist Supervision Fee
かかりつけ薬剤師指導料（枚数）(No. of prescriptions )engagement pharmacy functions (pharmacist)
・ Promote interpersonal work and strengthen multidisciplinary
collaboration with physicians, nurses, and other professionals

10,000・Aiming to implement "one pharmacist, one home healthcare

Approx.1.7 times up
from Mar. 2020

在宅患者訪問薬剤管理指導料（枚数）Guidance material for the administrationof drugs for in-home patients(No. of prescriptions )750

support " and to foster a mindset of wellness
・The number of prescriptions calculated for Family Pharmacist
Supervision Fee and Guidance material for the administrationof drugs for in-home patients fees are trending strongly
Continue to focus not only on medication follow-ups but also onhome healthcare support to acquire patients and become theApprox. 1.5
times up
4,000

350

Pharmacy of Choice in the community■Mastering Hospitality System (staff and nutritionist)
・ Thoroughly perform basic duties such as talking to patients, startingwith greetings
・ Review and improve patient care and pharmacy cleanliness
Introducing "mystery shoppers" (undercover investigations) to
respond to suggestions from outside sources, and creating andimplementing a PDCA cycle for each pharmacy to enhancecustomer service
Expanding those best practices to our broader pharmacies
19

Pharmaceuticals Network Business :Performance summary (As of September 30, 2022)
Network affiliates remained steady, up 772 from the end of the previous FY to 8,173■ Full year

■ 2Q

■Network affiliates (actual)+1,499 for
FY3/2023
target■Network affiliates (net increase)（Unit: No. of network affiliates）（Unit: No. of network affiliates）

7,401

8,173

6,116

+1,455+1,285+1,281

5,245

+772

+871

3,790
584
FY3/2019

FY3/2020

FY3/2021

FY3/2022

FY3/2023■Ordering volume of pharmaceuticals（Unit : billion yen）

4,492
3,367

FY3/2020

2,493

FY3/2021

FY3/2022

FY3/2023■FY3/2022 Breakdown of network aﬃliates(New/Withdrawal)
1Q

3,917

2,337

FY3/2019

2Q

3Q

4Q

Total

New

405

395

379

463

1,642

Withdrawal

(154)

(62)

(76)

(65)

(357)

■FY3/2023 Breakdown of network aﬃliates
1Q

FY3/2019

FY3/2020

FY3/2021

FY3/2022

FY3/2023

2Q

New

525

420

Withdrawal

(114)

(59)

20

Pharmaceuticals Network Business :Network affiliates distribution map (as of September 30, 2022)
ポイント（Unit: No. of network affiliates ）

Total

MSNW
Generalcommunity
network
pharmacies
affiliates
7,746
427

Total
8,173

8,317 network affiliates
as of October 31, 2022
21

Manufacture and Market Pharmaceuticals Business /Leasing and Facility related Business

As of Sep. 30, 2022

3 billion yen

Available products (ingredients) :85 products (42 ingredients)

1.8 billion yen
1.1 billion yen
0.4 billion yen

1,698 affiliates

1,886 affiliates

Sales to general network affiliates :1,886 affiliates

1.29 billion yen(End of FY 3/2023 target : 2,700 affiliates)

1,116 affiliates 0.82 billion yen

369 affiliates
Mar/2020

Mar/2021

Mar/2022

Mar/2023

Occupancy rate trends in Wisterias (serviced elderly housing facilities)● 94.7%（Wisteria Kiyota）

100%● 93.8%（Wisteria N17）
● 85.2%（Wisteria Otaru Inaho）

90%● 69.5%（Wisteria Senri Chuo）
80%● 69.0%（Wisteria M1）

All 5 facilities occupancy rate: 80.6%

70%
60%

Sep/2020

Dec/2020

Mar/2021

Jun/2021

Sep/2021

Dec/2021

Mar/2022

Jun/2022

Sep/2022

End of FY 3/2023 target :90% occupancy rate22

Digital Shift Business : Exceeded 440K user registrations
・ Steady growth in orders, installations, and user registrations, each up more than 150% from 1 year ago
・ The 1st Digital Pharmacy Consortium Meeting was held, and Frontier Inc. newly joined the Consortium■ Number of users registered and number of order
received / installed pharmacies■ Effect of new prescription acquisition（No. ofprescriptions）

50.0

Official LINE Account

45.0
40.0
35.0
30.0
25.0
20.0
15.0

*Figures in parentheses are
YoY changes

440K users4,000（+152%）

4,000

2,866 3,500
Order received
pharmacies（+176%）3,000

3,000

2,500

1,000

2,000

0

2,332
Installed
pharmacies
1,500（+322%）
1,000

10.0
5.0
0.0

500
0

2,000

No. of prescriptions filled by
new medical institutions
through the prescription
transmission function(for our group pharmacies)■ The 1st Digital Pharmacy Consortium Meeting Held・ Frontier Inc. is a new participant, and all 156 pharmacies aregradually installed the system
・ Aiming to build a pharmaceutical platform that includes
collaboration among multiple professions by promoting the use of
Tsunagaru Pharmacies and further enhancing their functions
23

3Core strategies,
Earnings
Forecast for
FY3/2023

24

Earnings forecast for FY3/2023 :Republish

Consolidated forecasts

Although the number of pharmaceutical network affiliates is expected to grow steadily and the number ofprescriptions filled is expected to increase (Net sales will increase), Income is expected to decrease due to costprecedence from new store openings and dispensing fee revisions, etc.

(Unit: million yen)

FY3/22(results)

FY3/23(forecast)

ChangeChange (%)

Net sales

106,685

110,000

EBITDA

6,708
6.3 %

Operating profit

3,852

3,500

(352)

Profit margin

3.6 %

3.2 %

(0.4 pt)*1+ 3,314+ 3.1 %

6,200

(508)

5.6 %

(0.7 pt.)(7.6 %)

Ordinary profit

4,313

3,700

(613)

Profit margin

4.0 %

3.4 %

(0.6 pt.)

Profit attributable to owners ofparentProfit margin

Earnings per share
(Yen)

*2

2,394

1,750

(644)

2.2 %

1.6 %

(0.6 pt.)

79.35

57.99

(21.36)(9.1 %)(14.2 %)

(26.9 %)－

*1 Includes 421 million yen in subsidy income for COVID-19*2 Includes 272 million yen increase due to one-time factors such as gain on sales of investment securities

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Earnings forecast for FY3/2023 :Republish

Forecast in each segment■Net sales(Unit: million yen)

FY3/22

FY3/23(results)(forecast)

ChangeChange (%)

106,685

110,000+ 3,314+ 3.1 %

Community Pharmacy
Network Segment*1

101,457

104,701+ 3,244+ 3.2 %

Other 3 Segments*2

5,954

6,172

+ 218

+ 3.7%

Adjustments

(727)

(874)

(147)

－

Net sales■Operating Profit(Unit: million yen)
Profit percentage in brackets

Segment profit

Community Pharmacy
Network Segment*1

Other 3 Segments*2
Adjustments

FY3/22

FY3/23(results)(forecast)

ChangeChange (%)

3,852

3.6 %

3,500

3.2 %

(352)

（0.4 pt.）(9.1 %)

6,117

6.0 %

6,026

5.8 %

(90)

（0.2 pt.）(1.5 %)

28

0.5％

61

1.0 %

+ 32

+ 0.5 pt.

+114.1％(2,293)－(2,588)

－

(294)

－

－

*1 Community Pharmacy Business, Pharmaceutical Network Business, Manufacture and Market Pharmaceuticals Business, Digital Shift Business*2 Leasing and Facility related Segment, Meal Catering Segment, Home Visit Nursing Segment

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Interim dividend■ For the current fiscal year, the Company plans to pay an interim dividend and a year-end
dividend of 6 yen per share each, for an annual dividend of 12 yen per share.

[Annual dividend per share]

Year-end
7
5

6

5

12yen
5

5

FY3/2020

FY3/2021

Interim5

FY3/2022

6《Reference》① FY3/23 interim dividend
Base date : September 30, 2022
P a y m e n t : D e c e m b e r 1 2 , 2022
Dividend per share: 6 yen② Shareholder return index
Projected year-end dividend per share: 12 yen
Projected payout ratio: 20.7%

FY3/2023

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MSNW group’s new company profile video now on view !
This video introduces the business activities of our groupin an easy-to-understand manner. Please take a look.

YouTube QR Code

Click

MEDICAL SYSTEM NETWORK Co., Ltd.
https://www.msnw.co.jp/eng/

MSNW

Search[Contact us]
Corporate Management Division
E-mail︓ info@msnw.co.jp

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