May 10, 2024

Supplementary Documents of Consolidated
Financial Results for FY2023(from April 1, 2023 to March 31, 2024)

Securities code：4886 (TSE)
ASKA Pharmaceutical Holdings Co., Ltd.
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.

Highlight
FY2023 (Consolidated)✓ 62.8 billion yen, increased 3.9% YOY
Net sales

The pharmaceuticals business, which is focused on obstetrics and gynecology,
remained strong, with record-high sales.

32.1 billion yen, improved 1.5 percentage points YOY✓
Cost of sales
Product mix and other factors improved the cost of sales ratio due to growth inBrand-name drugs such as RELUMINA, THYRADIN, and RIFXIMA.

SG&Aexpenses✓ 24.1 billion yen, SGA ratio decreased 0.4 percentage points YOY

Operatingprofit✓ 6.5 billion yen, increased 27.3% YOY

Depreciation decreased despite an increase in expenses associated with R&D progress.

Increased sales and gross profit boosted profits.

FY2024 Consolidated Financial Forecast
Performance ✓ Net sales 63.0 billion yen, up 0.2% YOYforecast✓ Operating profit 6.7 billion yen, up 3.1% YOY
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Statements of Income (Consolidated)(Millions of yen)

FY2022 Apr - Mar
ActualFY2023 Apr - Mar
ActualActual +/-Growth +/-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%

Major factors for increases in sales and profit
 Despite the challenging business environment in the pharmaceutical industry, the core of the Group, which was impacted
by the periodical NHI drug price revisions and other factors, 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 increased sales centered on the field of obstetrics andgynecology.
 Since the Company recorded extraordinary income associated with sale of investment securities, profit attributable toowners of parent was up 78.0% YoY.
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Net Sales by Business Segment (Consolidated)(Millions of yen)

FY2022 Apr - MarActual

FY2023 Apr - Mar
ActualBreakdown

Actual +/-Growth +/-Pharmaceuticalbusiness

53,57956,016

89.1%

2,436

4.5%

Animal healthbusiness

6,660

6,664

10.6%

30.0%

220

162

0.3%

-58

-26.3%

60,461

62,843100.0%

2,381

3.9%

Other businesses
Total

Major factors for increases/decreases
 The pharmaceutical business showed favorable trends overall, despite the impact of the periodical NHI drug pricerevisions. In the field of obstetrics and gynecology, sales in RELUMINA and DroEthi continued to grow, following theprevious year. In the internal medicine area, sales also grew due to growth in THYRADIN and RIFXIMA.
 Sales of the animal health business, which sells products such as veterinary pharmaceuticals and feed additives,
remained almost the same as sales in the previous year, despite rising costs of raw materials and other items.

4Sales of Main Products (Pharmaceutical Business)
Area

Category

Internal Medicine

AGObstetrics and Gynecology

CANDESARTAN * 1(candesartan)

ActualFY2023Apr - Mar
ActualFY2024
Apr - MarYOY

Forecast

YOY

10,723

9,593-10.5%

8,626-10.1%

NotesSales volume remained although the NHI drug
price decreased

Brand-name

THYRADIN

7,733

7,862

1.7%

8,018

2.0%

Progress as expected

Brand-nameRIFXIMA

5,397

5,864

8.7%

6,117

4.3%

Sales grew as the Guideline penetrated

Brand-name

MERCAZOLE

1,486

1,521

2.3%

1,510-0.7%

Progress as expected

AMLODIPINE

901840-6.7%

806-4.1%

Progress as expected

RELUMINA

8,839

9,906

12.1%

11,251

13.6%

Continued penetration activities inendometriosis market

DroEthi

3,671

6,125

66.8%

5,990-2.2%

As the market continued to expand, newprescriptions increased more than expected

AGFREWELL

3,489

3,303-5.4%

3,101-6.1%

Sales volume increased but sales are lower
than expected.

Brand-name

LUTEUM

1,251

2,029

62.1%

2,106

3.8%

Shipment restrictions lifted, External factors
etc. continued to have an impact on sales.

Brand-name

ANGE

784

725-7.5%

790

9.0%

Decreased due to switch to other companies’
products

Brand-name

MAGSENT * 2

626

706

12.7%

665-5.8%

Reflected the NHI drug price increase in sales

4,999

4,430-11.4%3,962-10.6%

Transition to other drugs lasted longer thaninitially expected

GenericUrology

Products(generic name)

FY2022
Apr - Mar

(Millions of yen)

Brand-nameGeneric

Generic(levothyroxine)(rifaximin)(thiamazole)(amlodipine)(relugolix)(norethisterone/ethinylestradiol)(drospirenone/ethinylestradiol)(progesterone)(levonorgestrel/ethinylestradiol)(magnesium sulfate)

LEUPRORELIN * 3(leuprorelin)* 1 Including compounding agents* 3 1.88mg formulation is only for gynecological indications but combined with 3.75mg formulation* 2 Total value of magnesium sulfate preparation

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Sales by Major Business Field (Animal Health Business)(Millions of yen)

Business field

FY2022 Apr - Mar
ActualFY2023 Apr - Mar
ActualFY2024 Apr - Mar

YOY

Forecast

YOY

Feed additives
Mixed feed
Feed materials

4,152

4,042-2.7%

4,031-0.2%

Veterinary
pharmaceuticals

2,370

2,487

4.9%

2,534

1.9%

Major factors for increases/decreases
 In FY2023, Although sales of feed additives decreased due to market conditions, sales of veterinary antibiotics andproducts for companion animals increased.
 In FY2024, Veterinary pharmaceutical is projected to grow.

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Forecast of Consolidated Financial Results for FY2024
FY2023 Apr - Mar
ActualFY2024 Apr - Mar
ForecastNet sales

62,84363,000156

0.2％

Operating profit

6,500

6,700

199

3.1％

Ordinary profit

6,522

6,700

177

2.7％

Profit attributable to owners ofparent

7,545

5,000-2,545-33.7％(Millions of yen)

YOY
Actual +/-YOY
Growth +/-Major factors for increases/decreases
 Despite the impact of annual NHI drug price revisions, the Group’s main business, pharmaceutical business is projected toincrease, thanks in part to the contributions of growth in obstetrics and gynecological products such as RELUMINA.
 Operating profit and ordinary profit are expected to increase due to a decrease in amortization and other expenses,
despite a projected increase in expenses, mainly R&D expenses. Projected profit attributable to owners of parent is down
33.7% YoY due to the rebound from the gain on sales of investment securities that occurred in FY2023.

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Sales Proportion of Brand-name Drugs to Generic Drugs■ Brand-name drugs ■ Generic drugs
FY2022

48.7%FY2023

47.0%

51.3%

53.0%

The product mix improved due to growth in RELUMINA, RIFXIMA, and THYRADIN, resulting in a 1.7
percentage point increase in the ratio of brand-name drugs to sales.
8R&D Status
Trend of R&D expenses（Millions of yen）
Forecast(Forecast)

5,575(Forecast)

4,227

4,728

As of May 10, 2024
Development code (Generic name) / Indication
LF111 (drospirenone)
Contraception

Phase
Preparing filing(Option agreement)
Treatment for PMS/PMDD
AKP-022 (Relugolix combination tablet)
Uterine fibroids

PhⅡ(IIT *1)
PhⅠ/Ⅱ ongoingTRM-270 (adhesion barrier)(Gastroenterology and Ob/Gyn)

PhⅢ*2

L-105 (rifaximin)
Hepatic encephalopathy (pediatrics)

Approved

AKP-009 (ludaterone acetate)
Benign prostatic hyperplasia
AKP-017 (transnasal teststerone)(Urology)

FY2022

FY2023

FY2024

PhⅡ*3
Preparing
Development*1 Investigator-initiated clinical trial*2 A clinical trial for Ob/Gyn field was initiated in November 2023.
*3 PhI trial is being conducted again.

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