ASK A HD
REPORT2023

Integrated Report April 1, 2022 March 31, 2023
ASKA Pharmaceutical Holdings Co., Ltd.

Total Healthcare Company
with a Strong Foundation
as a Specialty Pharma CompanyOctober 2023

VisionA Total Healthcare Company with a Strong Foundation as aSpecialty Pharma Company
ASKA Pharmaceutical Holdings Co., Ltd. was established in April 2021, marking a major step forward.
Under the five-year Medium-Term Management Plan 2025, we will implement seven strategies based on
the three foundations of “specialty,” “ability to create,” and “social contribution.” In doing so, we aimto become a total healthcare company that focuses on prevention, testing and diagnostics, treatment,and prognosis.

Corporate Message

For a Healthy Tomorrow and Future.
We will use our accumulated expertise and knowledge in specialty areas to build a society wherewomen can shine even more brightly, and to improve animal welfare. Based on our business as aspecialty pharma company, we will promote environmental, social and governance (ESG) initiatives,
and take on the challenge of helping to realize a prosperous society, while the animal health businessand testing business exercise synergies.

Corporate Philosophy

Contribute toward the improvement of people’s healthand progress in society through the development ofinnovative products
Since our founding in 1920 as a pioneer in hormone preparations, we have unerringly continued on ourjourney, while always keeping in mind our essential mission as a company that is directly linked to lifeand health. Backed by the drug discovery capabilities we have developed over our century-longhistory, we will adapt to the changing times and environment as we continue contributing to society by
responding to diverse needs.

History of Value Creation

2021 –
Aim for further growth

Since our founding in 1920 as a pioneer in hormone preparations, we have unerringly continued on

ASKA Pharmaceutical Holdings’ Medium-Term Management
Plan 2025 was launched in 2021. In conjunction with theshift to a holding company structure, the Company not only
aims to build a flexible organization that is capable of swift
decision-making, but also to achieve further sustainablegrowth for the entire Group by further strengthening its
governance structure.

our journey, while always keeping in mind our essential mission as a company that is directly linked
to life and health. In 2021, we transitioned to a holding company structure, and took a new step
toward the next 100 years. We will continue to respond to the changing times and environment,

2005 – 2021

and contribute to society as we evolve into a total healthcare company.

Formation of ASKA Pharmaceutical Co., Ltd.

1955 – 2005

Became a company that makes
wide-ranging contributions to society

1920 – 1955

After the postwar reconstruction period, the company worked
to modernize its management through organizational reforms,
expansion of its sales and production systems, reorganizationof its research functions, and reinforcement of its advertisingactivities. In addition to entering the field of veterinary
pharmaceuticals, the company also strived to diversify its
business and worked toward corporate growth in the midst ofan era of rapid economic growth.

Took our first step as a pharmaceutical company
In 1920, Yasohachi Yamaguchi established Teikoku Hormone
Research Institute. It began the research, development,
manufacture and sales of hormone preparations based on theunique idea of creating useful medicines from animal organs.
Although the company experienced hardships such as theGreat Kanto Earthquake, and the loss of its head office andfactory during the Second World War, it was rebuilt under anew organizational structure, and listed its shares on theTokyo Stock Exchange in 1955.
Launched in 1921
Male gonadal hormone agent

Launched in 1922
Hypothyroidism agent

SPERMATINTHYRADIN

Launched in 1981
Benign prostatic hyperplasia
and prostate cancer agent

In 2005, ASKA Pharmaceutical Co., Ltd. was established to develop
and market new drugs, specializing in the three priority areas of internal
medicine, obstetrics and gynecology (Ob/Gyn), and urology with theaim of becoming a competitive specialty pharma company. The company
took on challenges for the next stage, such as strengthening efforts
for generic drugs that meet the needs of the times.
Launched in 2011
Hyperlipidemic agent

Launched in 2014
Antihypertensive agent

Launched in 2016
Hepatic encephalopathy agent

LIPIDILCANDESARTAN “ASKA”

RIFXIMA

Launched in 2014
Endometriosis, uterine fibroids,and prostate cancer agent

Launched in 2016
Infertility agent

Launched in 2018
Dysmenorrhea agent

LUTEUM

FREWELL “ASKA”

LEUPRORELIN “ASKA”

Launched in 1986
Gastritis and gastric ulcer agent

Launched in 2019
Uterine fibroids andendometriosis agent

FY2022RELUMINA¥60,461 million

2022

Launched in 2021
Hair hormone levelmeasurement kit

Dihydrotestosterone

Launched in 2021
Feline hyperthyroidism agent

THYLOBLOCK

Enforcement of Revised
Act on the Promotionof Women’s Active
Engagement inProfessional Life

45,849ALTATPROSTAL1986

Launched in 1999
Low-dose oral contraceptive

ANGE

2016

Enforcement ofEqual Employment
Opportunity Act

Launched in 1926
Posterior pituitary hormone agent

24,3901975

ATONIN23,537

Enforcement of Act onthe Promotion of Women’s
Active Engagementin Professional LifeInternational
Women’s Year

Launched in 2022
Canine hyperadrenocorticism agent

Trilostane tablet “ASKA”

1945

12,409

Women’s suffragein Japan

1992
4,929

Net sales (Millions of yen)

(FY)

1920

Line item
Fiscal year-end

0.038

4.115

294

1929

1940

1950

Sales profit
Six-month settlement period(Two six-month periods were combined
for the data for years 1930-1937)

Product proceeds

Eight-monthsettlement period

Product proceeds
Twenty-four-monthsettlement period

Four-month settlement period

Launched in 2022
Dysmenorrhea agent

Enforcement ofChildcare Leave Act*940

DroEthi “ASKA”

Launched in 2023
Hair and nail stresshormone level test kit

Cortisol*C urrently Act on Childcare
Leave/Caregiver Leave

1960

1970

1980

1990

Net sales
Ten-month settlement period

2000

2010

Net sales
Six-month settlement period

Consolidated accounting(Merged with Grelan Pharmaceutical Co., Ltd. in October 2005)

2020

ASKA Animal Health

Animal HealthBusiness

ASKA PharmaceuticalPharmaceuticalBusiness

ASKA Pharma Medical

TestingBusinessMedium-Term
Management Plan 2025

Numerical Targets
Net sales: ¥70 billion Operating profit margin: 8% ROE: 8%Four Visions
Expand business scope centered on
pharmaceutical productsImprove business operations bypromoting open innovation

Become the top domestic company in ourspecialty areas for pharmaceutical productsContinue to be a company that istrusted by society

Seven Strategies
Enhance corporate value by strengthening initiatives in the specialty areas

Continuously create new drugs through advanced drug discovery

Overseas operations

Provide new value to realize total healthcare

Improve operational efficiency, cut costs, and reinforce our financial base

Foster an organizational culture that emphasizes thorough compliance andaccountability

Develop human resources to realize growth strategies

The Foundation for the Medium-Term Management PlanSpecialty

Ability to create

Social contribution

Medium-TermManagement Plan 2025

Humanresources
development

Creation ofinnovative
products

Contribution towomen’s healthContribution toanimal health
Promotion ofproper useof products

Our 11 material issues
Employeeengagement

Stable supply ofhigh-quality
products(most important issues)

Expandingaccessto healthcare
Corporate
governance

Securecompliance withlaws andregulations,enforcement ofcompliance

Environmental
protection
and continuous
reductionof environmental
impactASKA Pharmaceutical
ASKA Animal Health¥ 6.6 billon

ASKA Pharmaceutical Holdings
Net sales in FY2022¥

60.4 billion

ASKA Pharmaceutical

53.5 billion¥

ASKA Pharma Medical¥ 0.2 billon

ASKA Pharmaceutical
Social Issues We Aim to Help Resolve

ASKA Pharmaceutical

Leading company
No. 1 domestic share in theObstetrics and Gynecology market

Share of Thyroid Products Market

95%

ASKA Pharmaceutical

Net sales in FY2022 (YOY)20.5% UPUterine fibroids and endometriosis agent “RELUMINA”
We accelerate market penetration.

ASKA Pharmaceutical

The generic drug launchedsolely by ASKA

Significant sales growth

Dysmenorrhea agent “DroEthi”

We provide a new option for patients suffering from dysmenorrhea.

ASKA Pharmaceutical

Knowing yourself,
is protecting yourself
Health Lab Mint+ for Women’s healthASKA Pharmaceutical

Sales of Thyroid-Related
Pharmaceuticals
Sales growth rate roughly

2-3%per year

Domestic thyroid pharmaceutical market share of 95% with
THYRADIN, MERCAZOLE, etc.

ASKA Pharmaceutical

Strongly recommended inClinical Practice Guidelines
for Liver Cirrhosis

Hepatic encephalopathy agent “RIFXIMA”
We contribute to unmet medical needs.

ASKA Pharmaceutical* Image of the completed plant

The new plant in Vietnam (Hataphar)

ASKA Pharmaceutical

We solve women’s health challenges with FemTech.

ASKA Pharmaceutical

Broad health support

ASKA Animal HealthContributing to the Creation of a Society WherePeople and Animals Can Coexist

ASKA Pharma Medical

ASKA Animal Health

6.6 billion¥ 0.2 billon¥

ASKA
Pharmaceutical
Holdings’
Net sales inFY2022¥

ASKA Pharmaceutical¥ 53.5 billon

60.4 billion

ASKA Pharma Medical
Contributing to a Healthy Society through Cutting-Edge
Measurement Technologies

We create synergies withASKA Pharmaceutical and ASKA Animal Health.

Financial HighlightsAchieved record sales in FY2022
Net sales¥

Cost of sales¥

SG&Aexpenses
Operating Profit

60.4 billion (Increased 6.8% YOY, achieved record sales)
31.8 billion (Improved 0.7 percentage points YOY)¥¥

23.4 billion (Increased 8.9 % YOY)

5.1 billion(Increased 6.5 % YOY)For a Healthy Tomorrow and Future.