Consolidated Financial Results for the First Quarter of the Fiscal Year Ending February 28, 2021
[Japanese GAAP]
July 9, 2020
Company name:

Hisamitsu Pharmaceutical Co., Inc.

Stock exchange listing:Tokyo, Nagoya, Fukuoka

Securities code:

4530

URL:

https://www.hisamitsu.co.jp/

Representative:

NAKATOMI Kazuhide, President & CEO

Contact

TAKAO Shinichiro, Managing Director & Executive Officer, Head of Investor Relations Department

TEL:+81-3-5293-1704

Scheduled date of filing quarterly securities report:
Scheduled date of dividend payment:―July 10, 2020

Preparation of supplementary materials for quarterly financial results:

Yes

Holding of quarterly financial results meeting:Yes (for institutional investors and analysts)(Amounts are rounded down to the nearest millions of yen)

1. Consolidated Financial Results for the First Quarter of the Fiscal Year Ending February 28, 2021
(March 1, 2020 to May 31, 2020)(1) Consolidated Operating Results(Percentages represent year-on-year changes)
Net sales

Operating profit

Profit attributable toowners of parent

Ordinary profit

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%Three months ended May 31, 2020

24,882

△14.9

1,078

△61.2

418

△85.4

113

△94.1

Three months ended May 31, 201929,233

△12.8

2,778

△36.3

2,863

△35.6

1,913

△44.6

(Note) Comprehensive income:Three months ended May 31, 2020

2,333 millions of yen ( ―%)Three months ended May 31, 2019

△1,933 millions of yen ( ―%)Diluted profit pershareProfit per shareyenyen

Three months ended May 31, 2020

1.39

1.39

Three months ended May 31, 2019

23.15

23.13

(2) Consolidated Financial Position
Total assets

Shareholders’equity ratio

Net assetsMillions of yen

Millions of yen%

As of May 31, 2020

297,085249,709

83.4

As of February 29, 2020

307,401

250,746

80.9(Reference) Shareholders’ equity:

As of May 31, 2020

247,859 millions of yen

As of February 29, 2020

248,784 millions of yen

2. Dividends
Annual dividends
First quarter

Second quarter

Third quarter

Fiscal year end

Total

yen

yen

yen

yenyenYear ended February 29, 2020

―

41.50

―

41.50

83.00

Year ending February 28, 2021
Year ending February 28, 2021
(Forecast)

―
41.75

―

41.75

83.50

(Note) Revisions to the most recently announced dividends forecast:Yes

3. Consolidated Earnings Forecast for the Fiscal Year Ending February 28, 2021 (March 1, 2020 to February 28, 2021)(Percentages represent year-on-year changes)

Net sales

Full year

Operating profit

Profit attributable toowners of parent

Ordinary profit

Profit per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%yen

127,000△9.9

12,900△43.2

14,800△42.3

10,600△43.3

129.80(Note) Revisions to the most recently announced consolidated forecast:

Yes*Notes(1) Changes in significant subsidiaries during the period(Chages in specified subsidiaries resulting in changes in scope of consolidation): None(2) Apprication of special accounting methods for preparation of quarterly consolidated financial statements: Yes(3) Changes in accounting policies, changes in accounting estimates, and restatement
1) Changes in accounting policies due to revision of accounting standards
2) Changes in accounting policies other than 1) above
3) Changes in accounting estimates
4) Restatement: None: None: None: None

(4) The number of shares outstanding (common stock)1) Total number of shares outstanding at the end of the period (including treasury stock)
As of May 31, 2020
: 85,164,895 shares
As of February 29, 2020
: 85,164,895 shares2) Total number of treasury stock at the end of the period
As of May 31, 2020
: 3,491,500 shares
As of February 29, 2020
: 3,501,350 shares
3) Average number of shares outstanding during the period
Three months ended May 31, 2020
: 81,666,808 shares
Three months ended May 31, 2019
: 82,664,055 shares*Quarterly financial results reports are not subjected to quarterly review.
*Explanation for appropriate use of financial forecasts and other special notes
Among this document, the forecasts based on the plan may changes due to uncertain factors. Therefore, the actual
operating results may differ from the company's view.
Financial settlement briefings for institutional investors and analysts will be held on July 9, 2020. Presentation materials offinancial results will be posted promptly on the company’s website after the financial settlement briefings.

Quarterly Consolidated Financial Statements(1) Quarterly Consolidated Balance sheets(Millions of yen)

Prior Fiscal Year End(As of Feb. 29, 2020)

Current First Quarter(As of May. 31, 2020)

AssetsCurrent assets
Cash and deposits

107,051

101,158

Notes and accounts receivable - trade49,23237,898

Securities

34,87833,995Merchandise and finished goods

8,816

10,910

505

542

6,137

6,751

Work in process
Raw materials and supplies
Other

2,952

4,797

Allowance for doubtful accounts

△325

△273

209,251

195,780

Buildings and structures, net

14,93914,829Other, net

23,657

23,143

Total property, plant and equipment

38,59637,973

48

43

Other

1,4211,527

Total intangible assets

1,469

1,570

Investment securities

48,37952,526

Other

9,918

9,449

Total current assets
Non-current assets
Property, plant and equipment

Intangible assets
Sales rights

Investments and other assets

Allowance for doubtful accounts

△214

△214

Total investments and other assets

58,083

61,761

98,150101,305

307,401

297,085

Total non-current assets
Total assets

(Millions of yen)

Prior Fiscal Year End(As of Feb. 29, 2020)

Current First Quarter(As of May. 31, 2020)

Liabilities
Current liabilities
Notes and accounts payable - trade

10,4888,813

Electronically recorded obligations - operating

8,536

7,992

Short-term loans payable

1,209

1,211

Income taxes payable

5,745

513

Provision for sales returns
Provision for bonuses

127

93

1,558

383

Other

13,39012,038

Total current liabilities

41,05531,046Long-term loans payable

368

349

Net defined benefit liability

7,600

7,650

Non-current liabilities

Other

7,630

8,328

Total non-current liabilities

15,59816,32956,65447,376

8,473

8,473

Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus

2,272

2,284

Retained earnings

230,929

227,653

Treasury shares△11,730△11,699

Total shareholders' equity

229,945

226,711

Accumulated other comprehensive income
Valuation difference on available-for-sale securities

12,047

15,362

Revaluation reserve for land

3,790

3,790

Foreign currency translation adjustment

2,700

1,652

Remeasurements of defined benefit plans

299

341

18,83821,147

Share acquisition rights

Total accumulated other comprehensive income

491

472

Non-controlling interests

1,470

1,378

Total net assets
Total liabilities and net assets

250,746

249,709

307,401

297,085

(2) Quarterly Consolidated Statements of Income and Comprehensive Income
Quarterly Consolidated Statements of Income(Millions of yen)

Prior Fiscal Year
Current Fiscal Year
(Mar. 1, 2019 – May. 31, 2019) (Mar. 1, 2020 – May. 31 2020)

Net sales

29,23324,882

Cost of sales

10,901

9,672

Gross profit

18,331

15,210

Selling, general and administrative expenses

15,552

14,132

Operating profit

2,778

1,078

Interest income

256235

Dividend income

6769

Non-operating income

Other12975

Total non-operating income453379

32Non-operating expenses
Interest expenses
Foreign exchange losses

178

737

Share of loss of entities accounted for using equity method

165

272

Other

2227

Total non-operating expenses

368

1,040

2,863

418

Gain on sales of investment securities―

1

Total extraordinary income―

1

Ordinary profit
Extraordinary income

Extraordinary losses
Loss on disposal of non-current assets

10

Total extraordinary losses

102,862

418

887

334

1,974

8461

△291,913

113

Profit before income taxes
Income taxes
ProfitProfit (loss) attributable to non-controlling interests
Profit attributable to owners of parent

Quarterly Consolidated Statements of comprehensive income(Millions of yen)

Prior Fiscal Year
Current Fiscal Year
(Mar. 1, 2019 – May. 31, 2019) (Mar. 1, 2020 – May. 31 2020)

Profit1,974

84△3,993

3,379

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment60△1,107

Remeasurements of defined benefit plans, net of tax

32

48

Share of other comprehensive income of entities accounted forusing equity method△7△71△3,9082,249△1,9332,333△2,005

2,42271△88

Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests