NIPPON SHINYAKU CO., LTD. Outline of Consolidated Financial Results
for the 2nd Quarter Ended September 30, 2023
November 15, 2023
NIPPON SHINYAKU CO., LTD.
2Q FY2023 Summary
◆ Revenue | ： | 73,314 million yen | （ + | 3.1% ） |
◆ Operating profit | ： | 20,878 million yen | （ + | 9.0% ） |
◆ Profit before tax | ： | 21,146 million yen | （ + | 9.0% ） |
◆ Profit attributable | ： | 16,176 million yen | （ + | 6.3% ） |
to owners of parent |
Revenue | Operating profit | Profit before tax |
（Million yen）
Profit attributable to owners of parent
2
Segmental Review - Pharmaceuticals -
Revenues from the licensing
of industrial property rights
60,499
-3,020
+4,110
-601
60,988+489
（Million yen） | 1H FY2022 | 1H FY2023 | YoY Change | |||
Results | Ratio | Results | Ratio | Amt | % | |
Ethical drugs | 41,023 | 67.8% | 38,003 | 62.3% | -3,020 | -7.4% |
Revenues from the licensing of | 14,469 | 23.9% | 18,580 | 30.5% | +4,110 | +28.4% |
industrial property rights | ||||||
Profit in co-promotion | 5,005 | 8.3% | 4,404 | 7.2% | -601 | -12.0% |
Revenue | 60,499 | 100.0% | 60,988 | 100.0% | +489 | +0.8% |
Despite the effect of price revision by MHLW* and generic products, revenue of consolidated pharmaceuticals segment increased by 0.8% due to increase of sales of "Viltepso" and "Uptravi",
and royalty revenue from Uptravi's overseas sales.
*MHLW : Ministry of Health, Labour and Welfare
3
Segmental Review - Functional Food -
10,637 | ||||||
+1,127 | ||||||
+97 | ||||||
+315 | ||||||
+147 | ||||||
-0 | ||||||
12,325 | +1,688 | |||||
（Million yen） | 1H FY2022 | 1H FY2023 | YoY Change | |||
Results | Ratio | Results | Ratio | Amt | % | |
Protein preparations | 7,360 | 69.2% | 8,487 | 68.9% | +1,127 | +15.3% |
Preservatives | 1,424 | 13.4% | 1,522 | 12.3% | +97 | +6.9% |
Supplements | 671 | 6.3% | 987 | 8.0% | +315 | +46.9% |
Health food ingredients | 511 | 4.8% | 659 | 5.4% | +147 | +28.9% |
Others | 668 | 6.3% | 668 | 5.4% | -0 | -0.1% |
Revenue | 10,637 | 100.0% | 12,325 | 100.0% | +1,688 | +15.9% |
Revenue of consolidated functional food segment increased by 15.9% through
sales increase of protein preparations and supplements.
4
Operating profit
19,161
+2,178
+2,671 | |||||||
-668 | |||||||
-2,825 | |||||||
-209 | |||||||
+570 | |||||||
20,878 | +1,716 | ||||||
（Million yen） | 1H FY2022 | 1H FY2023 | YoY Change | ||||
Results | Ratio | Results | Ratio | Amt | % | ||
Revenue | 71,136 | 100.0% | 73,314 | 100.0% | +2,178 | +3.1% | |
(Pharmaceuticals) | (60,499) | (85.0%) | (60,988) | (83.2%) | (+489) | (+0.8%) | |
(Functional Food) | (10,637) | (15.0%) | (12,325) | (16.8%) | (+1,688) | (+15.9%) | |
Cost of sales | 27,991 | 39.3% | 25,320 | 34.5% | -2,671 | -9.5% | |
SG&A expenses | 16,284 | 22.9% | 16,952 | 23.1% | +668 | +4.1% | |
R&D expenses | 9,691 | 13.6% | 12,517 | 17.1% | +2,825 | +29.2% | |
Other income | 2,805 | 3.9% | 2,596 | 3.5% | -209 | -7.5% | |
(Foreign exchange gain) | (2,521) | (3.5%) | (2,261) | (3.1%) | (-260) | (-10.3%) | |
Other expenses | 813 | 1.2% | 242 | 0.3% | -570 | -70.2% | |
Operating profit | 19,161 | 26.9% | 20,878 | 28.5% | +1,716 | +9.0% | |
5 | |||||||
Profit attributable to owners of parent
15,222
+1,716 | |||||
+28 | |||||
+2 | |||||
-793 | |||||
16,176 | +954 | ||||
（Million yen） | 1H FY2022 | 1H FY2023 | YoY Change | ||
Results | Results | Amt | % | ||
Operating profit | 19,161 | 20,878 | +1,716 | +9.0% | |
Finance income | 297 | 326 | +28 | +9.5% | |
Finance costs | 60 | 57 | -2 | -4.5% | |
Profit before tax | 19,398 | 21,146 | +1,747 | +9.0% | |
Income tax expense, etc | 4,176 | 4,970 | +793 | +19.0% | |
Profit attributable to | 15,222 | 16,176 | +954 | +6.3% | |
owners of parent | |||||
6
Business Forecast for FY2023
FY2022 | FY2023 | YoY Change | ||||
(Million yen) | 1H | FY | 1H | FY | Amt | ％ |
Results | Results | Results | Forecasts | |||
Revenue | 71,136 | 144,175 | 73,314 | 147,000 | +2,825 | +2.0% |
(Pharmaceuticals) | (60,499) | (121,988) | (60,988) | (125,000) | +3,012 | +2.5% |
(Functional Food) | (10,637) | (22,187) | (12,325) | (22,000) | -187 | -0.8% |
Operating profit | 19,161 | 30,049 | 20,878 | 33,500 | +3,451 | +11.5% |
Profit before tax | 19,398 | 30,489 | 21,146 | 34,000 | +3,511 | +11.5% |
Profit attributable to | 15,222 | 22,812 | 16,176 | 26,000 | +3,188 | +14.0% |
owners of parent | ||||||
Exchange rate | FY2022 | FY2023 | ||||
1H | FY | 1H | 2H | |||
(JPY) | ||||||
Actual rate | Actual rate | Actual rate | Forecast rate | |||
1USD | 134.0円 | 135.5円 | 141.0円 | 140.0円 | ||
We expect royalty revenue from Uptravi's overseas sales and revenue of
consolidated functional food segment to exceed the previous projection. Therefore, we have revised our annual forecasts of Revenue, Operating profit, Profit before tax, and Profit attributable to owners of parent.
7
Segmental Forecast - Pharmaceuticals -
FY2022 | FY2023 | YoY Change | |||||
(Million yen) | 1H | FY | 1H | FY | Amt | % | |
Results | Results | Results | Forecasts | ||||
Ethical drugs | 41,023 | 81,753 | 38,003 | 78,200 | -3,553 | -4.3% | |
Revenues from the licensing of | 14,469 | 30,714 | 18,580 | 38,000 | +7,286 | +23.7% | |
industrial property rights | |||||||
Profit in co-promotion | 5,005 | 9,520 | 4,404 | 8,800 | -720 | -7.6% | |
Revenue | 60,499 | 121,988 | 60,988 | 125,000 | +3,012 | +2.5% | |
Despite the effect of price revision by MHLW* and launch of generic products, we predict revenue of consolidated pharmaceuticals segment to increase, due to increase of sales of "Viltepso" and "Uptravi", and royalty
revenue from Uptravi's overseas sales.
8
Segmental Forecast - Functional Food -
FY2022 | FY2023 | YoY Change | |||||
(Million yen) | 1H | FY | 1H | FY | Amt | % | |
Results | Results | Results | Forecasts | ||||
Protein preparations | 7,360 | 15,383 | 8,487 | 14,800 | -583 | -3.8% | |
Preservatives | 1,424 | 2,905 | 1,522 | 3,000 | +95 | +3.3% | |
Supplements | 671 | 1,428 | 987 | 1,900 | +472 | +33.0% | |
Health food ingredients | 511 | 1,118 | 659 | 1,100 | -18 | -1.6% | |
Others | 668 | 1,351 | 668 | 1,200 | -151 | -11.2% | |
Revenue | 10,637 | 22,187 | 12,325 | 22,000 | -187 | -0.8% | |
We predict revenue of consolidated functional food segment to
decrease due to the effect of sales price reduction of several products.
9
Forecast of Consolidated Statements of Income
FY2022 | FY2023 | YoY Change | ||||||
(Million yen) | 1H | FY | 1H | FY | Amt | % | ||
Results | Results | Results | Forecasts | |||||
Revenue | 71,136 | 144,175 | 73,314 | 147,000 | +2,825 | +2.0% | ||
(Pharmaceuticals) | (60,499) | (121,988) | (60,988) | (125,000) | (+3,012) | (+2.5%) | ||
(Functional Food) | (10,637) | (22,187) | (12,325) | (22,000) | (-187) | (-0.8%) | ||
Cost of sales | 27,991 | 55,980 | 25,320 | 49,000 | -6,980 | -12.5% | ||
SG&A expenses | 16,284 | 34,812 | 16,952 | 36,000 | +1,188 | +3.4% | ||
R&D expenses | 9,691 | 24,135 | 12,517 | 29,500 | +5,365 | +22.2% | ||
Other income | 2,805 | 1,908 | 2,596 | 1,400 | -508 | -26.7% | ||
Other expenses | 813 | 1,106 | 242 | 400 | -706 | -63.8% | ||
Operating profit | 19,161 | 30,049 | 20,878 | 33,500 | +3,451 | +11.5% | ||
Finance income | 297 | 575 | 326 | 600 | +25 | +4.3% | ||
Finance costs | 60 | 136 | 57 | 100 | -36 | -26.5% | ||
Profit before tax | 19,398 | 30,489 | 21,146 | 34,000 | +3,511 | +11.5% | ||
Income tax expense, etc | 4,176 | 7,676 | 4,970 | 8,000 | +324 | +4.2% | ||
Profit attributable to owners | 15,222 | 22,812 | 16,176 | 26,000 | +3,188 | +14.0% | ||
of parent | ||||||||
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Nippon Shinyaku Co. Ltd. published this content on 06 December 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 December 2023 05:06:15 UTC.
