February 5, 2024

Supplementary Documents of Consolidated
Financial Results for the Third Quarter ofFY2023 (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
3Q FY2023 (Consolidated)✓ 48.8 billion yen, increased 3.3% YOY
Net sales

The pharmaceuticals business remained strong, with record-high sales.

25.1 billion yen, improved 1.1 percentage points YOY✓
Cost of sales
Improved product mix and other factors due to growth in Brand-name drugs etc.
SG&A
expenses✓ 18.1 billion yen, increased 0.4 percentage points YOY

Operatingprofit✓ 5.5 billion yen, increased 9.6% YOY

Impacted by an increase in business activity expenses due to the normalization of economicactivities.
Despite increases in SG&A and R&D expenses, the increased sales and gross profit boosted
profits.

FY2023 Consolidated Financial Forecast
Performance
forecast✓ Net sales 62.0 billion yen, up 2.5% YOY✓ Operating profit 5.4 billion yen, up 5.7% YOY2Statements of Income (Consolidated)(Millions of yen)

FY2022 Apr - Dec
ActualFY2023 Apr - Dec
ActualActual +/-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%

Major factors for increases
 The Group business continued to show a favorable trend following the previous fiscal year, despite theuncertain business environment caused by such factors as ongoing high prices of resources and materials
and rising costs due to the depreciation of the yen on international currency markets.
Profit attributable to owners of parent increased due to a gain on sales of investment securities, which wasrecorded as extraordinary income in the second quarter.

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Net Sales by Business (Consolidated)(Millions of yen)

FY2022 Apr - Dec
ActualFY2023 Apr - Dec
ActualBreakdown

Actual +/-Growth +/-Pharmaceuticalbusiness

41,916

43,603

89.3%

1,686

4.0%

Animal healthbusiness

5,187

5,096

10.4%

-90

-1.7%

1551240.3%-31-19.9%

47,25948,824100.0%

1,564

3.3%

Other businesses
TotalMajor factors for increases/decreases
 The pharmaceutical business showed favorable trends overall, despite the impact of the periodical NHI drug pricerevisions. Sales of “RELUMINA" continued to increase, and sales of "DroEthi", launched in June 2022, significantly
increased following the previous year. Also, "THYRADIN" and "RIFXIMA“ showed growth.
 In the animal health business, which sells veterinary pharmaceuticals and feed additives, sales maintained the samelevel as the previous year despite the impact of rising costs of raw materials.

4Sales of Main Products (Pharmaceutical Business)
Area

Category

Internal Medicine

FY2023

ActualYOY

Forecast

Reference
YOY

Previous
Forecast

Notes

8,464

7,558

-10.7%

9,497-11.4%

9,268

Sales volume remained although theNHI drug price decreased

Brand-name

THYRADIN

6,031

6,104

1.2%

7,720

-0.2%

7,833

Progress as expected

Brand-nameRIFXIMA

4,230

4,572

8.1%

5,762

6.8%

5,578

Sales grew as the Guideline penetrated

Brand-name

MERCAZOLE

1,163

1,180

1.4%

1,489

0.2%

1,513

Progress as expected

AMLODIPINE

710

655

-7.7%

821-8.8%844

Progress as expected

RELUMINA

6,995

7,873

12.6%

10,23415.8%

10,128Continued penetration activities inendometriosis market

DroEthi

2,538

4,604

81.4%

6,096

66.0%

4,165

Significantly more progress than
expected

AGFREWELL

2,718

2,556

-5.9%

3,253-6.8%

3,407

Sales volume increased although theNHI drug price decreased

Brand-name

LUTEUM9181,505

63.9%

2,050

63.8%

1,363

Growth due to external factors, etc.

Brand-name

ANGE

626

562-10.3%

691-11.9%799

Decreased due to switch to othercompanies’ products

Brand-name

MAGSENT * 2

484

562

16.2%

715

14.1%

750

Reflected the NHI drug price increase in
the figures

3,930

3,476

-11.5%

4,381-12.4%

4,828

Generic

Brand-name

Obstetrics and Gynecology

ActualFY2023Apr – Dec

CANDESARTAN * 1AGUrology

Products(generic name)

FY2022
Apr - Dec

(Millions of yen)

Generic

Generic(candesartan)(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

Switch to other products progressedmore than initially expected
5Sales by Major Business Field (Animal Health Business)(Millions of yen)

Business field

Feed additives
Mixed feedFeed materials
Veterinary
pharmaceuticals(livestock and fisheries +*CA)

FY2022 Apr – Dec
ActualFY2023 Apr - Dec
ActualYOY

FY2023
Forecast

Reference
YOY

Previous forecast

3,258

3,014-7.5

3,848-7.3%

3,832

1,832

1,957

6.8

2,515

6.1%

2,490

Major factors for increases/decreases
 The feed additives market shows trends toward a bottoming out of the market, but uncertain conditions continue.
 Sales of veterinary pharmaceuticals showed a favorable trend, centering on TRILOSTANE TABLETS " ASKA," launchedlast year, and hormone agents.
* Companion Animal
6

Sales Proportion of Brand-name Drugs■ Brand-name drugs ■ Generic drugs
3Q FY2022

3Q FY2023

51.7%

53.2%

The product mix improved due to growth in RELUMINA, RIFXIMA, and THYRADIN, resulting in a 1.5 percentage point
increase in the ratio of brand-name drugs to sales despite the significant growth in DroEthi, a generic drug.

7

R&D Status
Trend of R&D expenses（Millions of yen）
(Forecast)
Forecast

4,227

4,581

(Forecast)

3,598

3,429
3Q Actual

As of February 5, 2024
Development code (Generic name) / Indication
LF111 (drospirenone)
Contraception

PhⅢ(Option agreement)
Treatment for PMS/PMDD

PhⅡ(IIT *1)

AKP-022 (Relugolix combination tablet)
Uterine fibroids

PhⅠ/Ⅱ

TRM-270 (adhesion barrier)(Gastroenterology and Ob/Gyn)

PhⅢ*2

L-105 (rifaximin)
Hepatic encephalopathy (pediatrics)

Filed

AKP-009 (ludaterone acetate)
Benign prostatic hyperplasia

PhⅡ*3

AKP-017 (transnasal teststerone)(Urology)

FY2021

FY2022

FY2023Phase

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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Net Sales/Operating Profit by Quarter (Past Actual)(Millions of yen)

Net sales
15,947

13,714

14,221

13,689Operating Profit

14,256

15,702

2Q

1,188

3Q

FY20204Q

13,202

1,664

1,469

1,215
118

-167
1Q

14,903

2,162

2,020

1,830
898

15,26912,428

11,831

1,048

17,087

1Q

2Q

3Q

FY2021

4Q

67
1Q

2Q

3Q

4Q

FY2022

Both sales and profits tend to be low in 4Q due to restrained purchases before NHI drug price revisions and expenses incurred in 4Q.

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