Exhibit Number | ||||||||
1. | ||||||||
99.1 |
TAKEDA PHARMACEUTICAL COMPANY LIMITED | ||||||||
Date: October 30, 2023 | By: | /s/ Norimasa Takeda | ||||||
Norimasa Takeda Chief Accounting Officer and Corporate Controller |
Page | |||||
[Financial Appendix] | |||||
[Cover] | |||||
[Document Filed] | Quarterly Securities Report | ||||
[Applicable Law] | Article 24-4-7, paragraph 1 of the Financial Instruments and Exchange Act of Japan | ||||
[Filed with] | Director, Kanto Local Finance Bureau | ||||
[Filing Date] | October 30, 2023 | ||||
[Fiscal period] | The second quarter of 147th Business Term (from July 1, 2023 to September 30, 2023) | ||||
[Company Name] | Takeda Pharmaceutical Company Limited | ||||
[Title and Name of Representative] | Christophe Weber, Representative Director, President & Chief Executive Officer | ||||
[Address of Head Office] | 1-1, Doshomachi 4-chome, Chuo-ku, Osaka | ||||
(The above address is the registered head office location and the ordinary business operations are conducted at the “Nearest Place of Contact”) | |||||
[Telephone Number] | Not applicable | ||||
[Name of Contact Person] | Not applicable | ||||
[Nearest Place of Contact] | 1-1, Nihonbashi-Honcho 2-chome, Chuo-ku, Tokyo | ||||
(Global Headquarters) | |||||
[Telephone Number] | +81-3-3278-2111 (Main telephone number) | ||||
[Name of Contact Person] | Norimasa Takeda, Chief Accounting Officer & Corporate Controller, Global Finance | ||||
[Place for public inspection] | Takeda Pharmaceutical Company Limited (Global Headquarters) | ||||
(1-1, Nihonbashi Honcho 2-chome, Chuo-ku, Tokyo) | |||||
Tokyo Stock Exchange, Inc. | |||||
(2-1, Nihonbashi Kabutocho, Chuo-ku, Tokyo) | |||||
Nagoya Stock Exchange, Inc. | |||||
(8-20, Sakae 3-chome, Naka-ku, Nagoya) | |||||
Fukuoka Stock Exchange | |||||
(14-2, Tenjin 2-chome, Chuo-ku, Fukuoka) | |||||
Sapporo Stock Exchange | |||||
(14-1, Minamiichijonishi 5-chome, Chuo-ku, Sapporo) |
JPY (millions), unless otherwise indicated | ||||||||||||||||||||
Six-month period ended September 30, | Six-month period ended September 30, | For the year ended March 31, | ||||||||||||||||||
Term | 2022 | 2023 | 2023 | |||||||||||||||||
Revenue | 1,974,771 | 2,101,707 | 4,027,478 | |||||||||||||||||
<Three-month period ended September 30> | 1,002,307 | 1,043,089 | ||||||||||||||||||
Profit before tax | 220,022 | 39,053 | 375,090 | |||||||||||||||||
Net profit for the period | 166,753 | 41,436 | 317,038 | |||||||||||||||||
Net profit (loss) attributable to owners of the Company | 166,756 | 41,365 | 317,017 | |||||||||||||||||
<Three-month period ended September 30> | 61,742 | (48,030) | ||||||||||||||||||
Total comprehensive income for the period | 1,163,590 | 824,964 | 911,574 | |||||||||||||||||
Total equity | 6,713,489 | 7,071,024 | 6,354,672 | |||||||||||||||||
Total assets | 14,588,847 | 14,871,889 | 13,957,750 | |||||||||||||||||
Basic earnings (loss) per share (JPY) | 107.62 | 26.51 | 204.29 | |||||||||||||||||
<Three-month period ended September 30> | 39.77 | (30.68) | ||||||||||||||||||
Diluted earnings per share (JPY) | 106.88 | 26.29 | 201.94 | |||||||||||||||||
Ratio of equity attributable to owners of the Company to total assets (%) | 46.0 | 47.5 | 45.5 | |||||||||||||||||
Net cash from operating activities | 305,234 | 291,305 | 977,156 | |||||||||||||||||
Net cash used in investing activities | (121,920) | (327,109) | (607,102) | |||||||||||||||||
Net cash used in financing activities | (267,593) | (198,433) | (709,148) | |||||||||||||||||
Cash and cash equivalents at the end of the period | 798,137 | 318,051 | 533,530 | |||||||||||||||||
Billion JPY or percentage | ||||||||||||||||||||||||||||||||
FY2022 H1 | FY2023 H1 | Change versus the same period of the previous fiscal year | ||||||||||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||||||||
Amount of Change | % Change | % Change | ||||||||||||||||||||||||||||||
Revenue | 1,974.8 | 2,101.7 | 126.9 | 6.4 | % | 1.4 | % | |||||||||||||||||||||||||
Cost of sales | (598.3) | (664.7) | (66.4) | 11.1 | % | 6.0 | % | |||||||||||||||||||||||||
Selling, general and administrative expenses | (480.2) | (501.1) | (20.9) | 4.3 | % | (0.8) | % | |||||||||||||||||||||||||
Research and development expenses | (297.8) | (346.7) | (48.9) | 16.4 | % | 9.6 | % | |||||||||||||||||||||||||
Amortization and impairment losses on intangible assets associated with products | (273.6) | (369.7) | (96.0) | 35.1 | % | 25.8 | % | |||||||||||||||||||||||||
Other operating income | 13.5 | 9.9 | (3.6) | (26.7) | % | (27.6) | % | |||||||||||||||||||||||||
Other operating expenses | (83.4) | (110.2) | (26.9) | 32.2 | % | 27.1 | % | |||||||||||||||||||||||||
Operating profit | 255.0 | 119.2 | (135.7) | (53.2) | % | (50.6) | % | |||||||||||||||||||||||||
Finance income and (expenses), net | (33.6) | (81.8) | (48.2) | 143.7 | % | 147.9 | % | |||||||||||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | (1.4) | 1.6 | 3.0 | ― | ― | |||||||||||||||||||||||||||
Profit before tax | 220.0 | 39.1 | (181.0) | (82.3) | % | (79.8) | % | |||||||||||||||||||||||||
Income tax (expenses) benefit | (53.3) | 2.4 | 55.7 | ― | (86.0) | % | ||||||||||||||||||||||||||
Net profit for the period | 166.8 | 41.4 | (125.3) | (75.2) | % | (77.8) | % |
Billion JPY or percentage | ||||||||||||||||||||||||||||||||
FY2022 H1 | FY2023 H1 | Change versus the same period of the previous fiscal year | ||||||||||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||||||||
Revenue: | Amount of Change | % Change | % Change | |||||||||||||||||||||||||||||
Japan | 261.4 | 228.5 | (32.8) | (12.6) | % | (12.8) | % | |||||||||||||||||||||||||
United States | 1,032.5 | 1,104.8 | 72.2 | 7.0 | % | 0.1 | % | |||||||||||||||||||||||||
Europe and Canada | 409.0 | 460.0 | 51.0 | 12.5 | % | 3.4 | % | |||||||||||||||||||||||||
Asia (excluding Japan) | 105.7 | 123.3 | 17.6 | 16.6 | % | 14.4 | % | |||||||||||||||||||||||||
Latin America | 83.3 | 92.1 | 8.8 | 10.6 | % | 15.8 | % | |||||||||||||||||||||||||
Russia/CIS | 37.8 | 31.1 | (6.7) | (17.8) | % | (4.5) | % | |||||||||||||||||||||||||
Other*1 | 45.1 | 62.0 | 16.9 | 37.4 | % | 44.0 | % | |||||||||||||||||||||||||
Total | 1,974.8 | 2,101.7 | 126.9 | 6.4 | % | 1.4 | % |
Billion JPY or percentage | ||||||||||||||||||||||||||||||||
FY2022 H1 | FY2023 H1 | Change versus the same period of the previous fiscal year | ||||||||||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||||||||
Revenue: | Amount of Change | % Change | % Change | |||||||||||||||||||||||||||||
GI | 546.4 | 596.9 | 50.5 | 9.2 | % | 3.0 | % | |||||||||||||||||||||||||
Rare Diseases | 362.2 | 381.0 | 18.7 | 5.2 | % | 1.9 | % | |||||||||||||||||||||||||
Rare Hematology | 155.7 | 152.7 | (3.0) | (1.9) | % | (5.7) | % | |||||||||||||||||||||||||
Rare Genetics and Other | 206.5 | 228.2 | 21.7 | 10.5 | % | 7.6 | % | |||||||||||||||||||||||||
PDT Immunology | 314.0 | 388.4 | 74.4 | 23.7 | % | 17.2 | % | |||||||||||||||||||||||||
Oncology | 225.3 | 225.2 | (0.1) | (0.1) | % | (3.0) | % | |||||||||||||||||||||||||
Neuroscience | 302.3 | 330.7 | 28.4 | 9.4 | % | 3.2 | % | |||||||||||||||||||||||||
Other | 224.6 | 179.6 | (44.9) | (20.0) | % | (23.1) | % | |||||||||||||||||||||||||
Total | 1,974.8 | 2,101.7 | 126.9 | 6.4 | % | 1.4 | % |
Billion JPY or percentage | ||||||||||||||||||||||||||||||||
FY2022 H1 | FY2023 H1 | Change versus the same period of the previous fiscal year | ||||||||||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||||||||
Amount of Change | % change | % change | ||||||||||||||||||||||||||||||
Core Revenue | 1,974.8 | 2,101.7 | 126.9 | 6.4 | % | 1.4 | % | |||||||||||||||||||||||||
Core Operating Profit | 625.2 | 588.8 | (36.4) | (5.8) | % | (9.5) | % | |||||||||||||||||||||||||
Core EPS (JPY) | 288 | 261 | (27) | (9.4) | % | (14.4) | % |
Name of Bond (Face Value if Denominated in Foreign Currency) | Issuance | Maturity | Carrying Amount (Billion JPY) | |||||||||||||||||
Unsecured US dollar denominated senior notes (USD 1,301 million) | June 2015 | June 2025 ~ June 2045 | 194.8 | |||||||||||||||||
Unsecured US dollar denominated senior notes (USD 3,000 million) | September 2016 | September 2026 | 430.0 | |||||||||||||||||
Unsecured Euro denominated senior notes (EUR 3,000 million) | November 2018 | November 2026 ~ November 2030 | 472.0 | |||||||||||||||||
Unsecured US dollar denominated senior notes (USD 2,250 million) | November 2018 | November 2023 ~ November 2028 | 333.9 | |||||||||||||||||
Hybrid bonds (subordinated bonds) | June 2019 | June 2079 | 499.2 | |||||||||||||||||
Unsecured US dollar denominated senior notes (USD 7,000 million) | July 2020 | March 2030 ~ July 2060 | 1,036.7 | |||||||||||||||||
Unsecured Euro denominated senior notes (EUR 3,600 million) | July 2020 | July 2027 ~ July 2040 | 565.8 | |||||||||||||||||
Unsecured JPY denominated senior bonds | October 2021 | October 2031 | 249.5 | |||||||||||||||||
Commercial paper | September 2023 | December 2023 | 150.0 | |||||||||||||||||
Total | 3,931.9 |
Name of Loan (Face Value if Denominated in Foreign Currency) | Execution | Maturity | Carrying Amount (Billion JPY) | |||||||||||||||||
Syndicated loans | April 2016 | April 2026 | 100.0 | |||||||||||||||||
Syndicated loans | April 2017 | April 2027 | 113.5 | |||||||||||||||||
Syndicated loans (USD 1,500 million) | April 2017 | April 2027 | 223.4 | |||||||||||||||||
Syndicated loans | April 2023 | April 2030 | 100.0 | |||||||||||||||||
Bilateral loans | March 2016 ~ March 2023 | April 2024 ~ March 2029 | 210.0 | |||||||||||||||||
Other | 0.5 | |||||||||||||||||||
Total | 747.4 |
Billion JPY | ||||||||||||||
FY2022 H1 | FY2023 H1 | |||||||||||||
Net cash from (used in) operating activities | 305.2 | 291.3 | ||||||||||||
Net cash from (used in) investing activities | (121.9) | (327.1) | ||||||||||||
Net cash from (used in) financing activities | (267.6) | (198.4) | ||||||||||||
Net increase (decrease) in cash and cash equivalents | (84.3) | (234.2) | ||||||||||||
Cash and cash equivalents at the beginning of the year | 849.7 | 533.5 | ||||||||||||
Effects of exchange rate changes on cash and cash equivalents | 32.7 | 18.8 | ||||||||||||
Cash and cash equivalents at the end of the period | 798.1 | 318.1 |
Class | Total number of shares authorized to be issued (Shares) | |||||||
Common stock | 3,500,000,000 | |||||||
Total | 3,500,000,000 |
Class | Number of shares outstanding (As of September 30, 2023) | Number of shares outstanding as of the filling date (October 30, 2023) | Stock exchange on which the Company is listed | Description | ||||||||||||||||||||||
Common stock | 1,582,373,225 | 1,582,373,225 | Tokyo (Prime Market), Nagoya (Premier Market), Fukuoka, Sapporo, and New York | The number of shares per one unit of shares is 100 shares. | ||||||||||||||||||||||
Total | 1,582,373,225 | 1,582,373,225 | — | — |
Date | Change in the total number of issued shares (Thousand of shares) | Balance of the total number of issued shares (Thousand of shares) | Change in share capital JPY (millions) | Balance of share capital JPY (millions) | Change in capital reserve JPY (millions) | Balance of capital reserve JPY (millions) | ||||||||||||||||||||||||||||||||
From July 1, 2023 to September 30, 2023 (Note1) | 45 | 1,582,373 | 92 | 1,676,503 | 92 | 1,668,515 |
As of September 30, 2023 | ||||||||||||||||||||
Name | Address | Number of Shares Held (Thousands of Shares) | Percentage of Total Number of Shares Issued (Excluding Treasury Stocks) (%) | |||||||||||||||||
The Master Trust Bank of Japan, Ltd. (Trust account) | 11-3, Hamamatsucho 2-chome, Minato-ku, Tokyo | 261,049 | 16.58 | |||||||||||||||||
Custody Bank of Japan, Ltd. (Trust account) | 8-12, Harumi 1-chome, Chuo-ku, Tokyo | 85,912 | 5.46 | |||||||||||||||||
The Bank of New York Mellon as depositary bank for depositary receipt holders (Standing proxy: Sumitomo Mitsui Banking Corporation) | 240 Greenwich Street, 8th Floor West, New York, NY 10286 U.S.A. (1-2, Marunouchi 1-chome, Chiyoda-ku, Tokyo) | 70,909 | 4.50 | |||||||||||||||||
JP Morgan Chase Bank 385632 (Standing proxy: Settlement & Clearing Services Department, Mizuho Bank, Ltd.) | 25 Bank Street, Canary Wharf, London, E14 5JP, United Kingdom (15-1, Konan 2-chome, Minato-ku, Tokyo) | 54,800 | 3.48 | |||||||||||||||||
State Street Bank West Client-Treaty 505234 (Standing proxy: Settlement & Clearing Services Department, Mizuho Bank, Ltd.) | 1776 Heritage Drive, North Quincy, MA 02171, U.S.A. (15-1, Konan 2-chome, Minato-ku, Tokyo) | 32,706 | 2.08 | |||||||||||||||||
JPMorgan Securities Japan Co., Ltd. | 7-3, Marunouchi 2-chome, Chiyoda-ku, Tokyo | 32,250 | 2.05 | |||||||||||||||||
Nippon Life Insurance Company (Standing proxy: The Master Trust Bank of Japan, Ltd.) | 6-6, Marunouchi 1-chome, Chiyoda-ku, Tokyo (11-3, Hamamatsucho 2-chome, Minato-ku, Tokyo) | 24,752 | 1.57 | |||||||||||||||||
SMBC Nikko Securities Inc. | 3-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo | 21,879 | 1.39 | |||||||||||||||||
SSBTC Client Omnibus Account (Standing proxy: The Hongkong and Shanghai Banking Corporation Limited Tokyo Branch | One Congress Street, Suite 1, Boston MA USA 02111 (11-1, Nihombashi 3-chome, Chuo-ku, Tokyo) | 21,590 | 1.37 | |||||||||||||||||
JP Morgan Chase Bank 385781 (Standing proxy: Settlement & Clearing Services Department, Mizuho Bank, Ltd.) | 25 Bank Street, Canary Wharf, London, E14 5JP, United Kingdom (15-1, Konan 2-chome, Minato-ku, Tokyo) | 20,711 | 1.32 | |||||||||||||||||
Total | 626,558 | 39.78 | ||||||||||||||||||
As of September 30, 2023 | |||||||||||||||||||||||
Classification | Number of shares (Shares) | Number of voting rights (Units) | Description | ||||||||||||||||||||
Shares without voting rights | — | — | — | ||||||||||||||||||||
Shares with restricted voting rights (Treasury stock and other) | — | — | — | ||||||||||||||||||||
Shares with restricted voting rights (Others) | — | — | — | ||||||||||||||||||||
Shares with full voting rights (Treasury stock and other) | (Treasury stock) Common stock | 7,511,300 | — | — | |||||||||||||||||||
(Crossholding stock) Common stock | 287,000 | — | — | ||||||||||||||||||||
Shares with full voting rights (Others) | Common stock | 1,573,171,200 | 15,731,712 | — | |||||||||||||||||||
Shares less than one unit | Common stock | 1,403,725 | — | Shares less than one unit (100 shares) | |||||||||||||||||||
Number of issued shares | 1,582,373,225 | — | — | ||||||||||||||||||||
Total number of voting rights | — | 15,731,712 | — |
As of September 30, 2023 | ||||||||||||||||||||||||||||||||
Name of shareholders | Address | Number of shares held under own name (Shares) | Number of shares held under the name of others (Shares) | Total shares held (Shares) | Percentage of total issued shares issued (%) | |||||||||||||||||||||||||||
(Treasury stock) | ||||||||||||||||||||||||||||||||
Takeda Pharmaceutical Company Limited | 1-1, Doshomachi 4-chome, Chuo-ku, Osaka | 7,511,300 | — | 7,511,300 | 0.47 | |||||||||||||||||||||||||||
(Crossholding stock) | ||||||||||||||||||||||||||||||||
Amato Pharmaceutical Products, Ltd. | 5-3, Shinsenri Higashi-machi 1-chome, Toyonaka-city, Osaka | 275,000 | — | 275,000 | 0.02 | |||||||||||||||||||||||||||
Watanabe Chemical, Co., Ltd. | 6-1, Hiranomachi 3-chome, Chuo-ku, Osaka-city, Osaka | 12,000 | — | 12,000 | 0.00 | |||||||||||||||||||||||||||
Total | 7,798,300 | — | 7,798,300 | 0.49 |
JPY (millions, except per share data) | |||||||||||||||||||||||||||||
Six-month Period Ended September 30, | Three-month Period Ended September 30, | ||||||||||||||||||||||||||||
Note | 2022 | 2023 | 2022 | 2023 | |||||||||||||||||||||||||
Revenue | 4 | 1,974,771 | 2,101,707 | 1,002,307 | 1,043,089 | ||||||||||||||||||||||||
Cost of sales | (598,327) | (664,696) | (305,445) | (343,582) | |||||||||||||||||||||||||
Selling, general and administrative expenses | (480,214) | (501,065) | (248,734) | (252,952) | |||||||||||||||||||||||||
Research and development expenses | (297,752) | (346,687) | (154,145) | (183,946) | |||||||||||||||||||||||||
Amortization and impairment losses on intangible assets associated with products | 5 | (273,643) | (369,665) | (142,366) | (240,242) | ||||||||||||||||||||||||
Other operating income | 13,476 | 9,874 | 7,997 | 5,670 | |||||||||||||||||||||||||
Other operating expenses | 6 | (83,359) | (110,240) | (55,177) | (77,379) | ||||||||||||||||||||||||
Operating profit (loss) | 254,953 | 119,230 | 104,438 | (49,342) | |||||||||||||||||||||||||
Finance income | 75,707 | 24,312 | 14,782 | 9,359 | |||||||||||||||||||||||||
Finance expenses | (109,272) | (106,095) | (53,803) | (58,022) | |||||||||||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | (1,366) | 1,607 | (869) | 2,025 | |||||||||||||||||||||||||
Profit (loss) before tax | 220,022 | 39,053 | 64,549 | (95,980) | |||||||||||||||||||||||||
Income tax (expenses) benefit | 7 | (53,269) | 2,382 | (2,817) | 48,009 | ||||||||||||||||||||||||
Net profit (loss) for the period | 166,753 | 41,436 | 61,732 | (47,971) | |||||||||||||||||||||||||
Attributable to: | |||||||||||||||||||||||||||||
Owners of the Company | 166,756 | 41,365 | 61,742 | (48,030) | |||||||||||||||||||||||||
Non-controlling interests | (3) | 71 | (10) | 59 | |||||||||||||||||||||||||
Net profit (loss) for the period | 166,753 | 41,436 | 61,732 | (47,971) | |||||||||||||||||||||||||
Earnings per share (JPY) | |||||||||||||||||||||||||||||
Basic earnings (loss) per share | 8 | 107.62 | 26.51 | 39.77 | (30.68) | ||||||||||||||||||||||||
Diluted earnings (loss) per share | 8 | 106.88 | 26.29 | 39.48 | (30.68) | ||||||||||||||||||||||||
JPY (millions) | ||||||||||||||||||||||||||
Six-month Period Ended September 30, | Three-month Period Ended September 30, | |||||||||||||||||||||||||
2022 | 2023 | 2022 | 2023 | |||||||||||||||||||||||
Net profit (loss) for the period | 166,753 | 41,436 | 61,732 | (47,971) | ||||||||||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||||||||
Items that will not be reclassified to profit or loss: | ||||||||||||||||||||||||||
Changes in fair value of financial assets measured at fair value through other comprehensive income | 5,284 | 6,537 | 5,464 | (7,654) | ||||||||||||||||||||||
Remeasurement of defined benefit pension plans | 13,395 | 2,644 | 2,862 | 2,954 | ||||||||||||||||||||||
18,679 | 9,181 | 8,326 | (4,701) | |||||||||||||||||||||||
Items that may be reclassified subsequently to profit or loss: | ||||||||||||||||||||||||||
Exchange differences on translation of foreign operations | 1,035,192 | 779,220 | 312,421 | 185,281 | ||||||||||||||||||||||
Cash flow hedges | (33,200) | (2,015) | (7,727) | 9,006 | ||||||||||||||||||||||
Hedging cost | (22,749) | (2,579) | 4,666 | (10,438) | ||||||||||||||||||||||
Share of other comprehensive loss of investments accounted for using the equity method | (1,085) | (279) | (445) | (88) | ||||||||||||||||||||||
978,158 | 774,347 | 308,915 | 183,761 | |||||||||||||||||||||||
Other comprehensive income for the period, net of tax | 996,837 | 783,528 | 317,241 | 179,061 | ||||||||||||||||||||||
Total comprehensive income for the period | 1,163,590 | 824,964 | 378,973 | 131,090 | ||||||||||||||||||||||
Attributable to: | ||||||||||||||||||||||||||
Owners of the Company | 1,163,535 | 824,843 | 378,964 | 131,027 | ||||||||||||||||||||||
Non-controlling interests | 55 | 121 | 9 | 62 | ||||||||||||||||||||||
Total comprehensive income for the period | 1,163,590 | 824,964 | 378,973 | 131,090 |
JPY (millions) | |||||||||||||||||
Note | As of March 31, 2023 | As of September 30, 2023 | |||||||||||||||
ASSETS | |||||||||||||||||
Non-current assets: | |||||||||||||||||
Property, plant and equipment | 1,691,229 | 1,894,136 | |||||||||||||||
Goodwill | 4,790,723 | 5,301,017 | |||||||||||||||
Intangible assets | 4,269,657 | 4,402,421 | |||||||||||||||
Investments accounted for using the equity method | 99,174 | 103,112 | |||||||||||||||
Other financial assets | 279,683 | 313,252 | |||||||||||||||
Other non-current assets | 63,325 | 59,672 | |||||||||||||||
Deferred tax assets | 366,003 | 336,211 | |||||||||||||||
Total non-current assets | 11,559,794 | 12,409,822 | |||||||||||||||
Current assets: | |||||||||||||||||
Inventories | 986,457 | 1,155,866 | |||||||||||||||
Trade and other receivables | 649,429 | 755,327 | |||||||||||||||
Other financial assets | 20,174 | 15,756 | |||||||||||||||
Income taxes receivable | 32,264 | 32,739 | |||||||||||||||
Other current assets | 160,868 | 178,219 | |||||||||||||||
Cash and cash equivalents | 533,530 | 318,051 | |||||||||||||||
Assets held for sale | 15,235 | 6,108 | |||||||||||||||
Total current assets | 2,397,956 | 2,462,066 | |||||||||||||||
Total assets | 13,957,750 | 14,871,889 |
LIABILITIES AND EQUITY | |||||||||||||||||
LIABILITIES | |||||||||||||||||
Non-current liabilities: | |||||||||||||||||
Bonds and loans | 9 | 4,042,741 | 4,404,363 | ||||||||||||||
Other financial liabilities | 534,269 | 574,874 | |||||||||||||||
Net defined benefit liabilities | 127,594 | 134,953 | |||||||||||||||
Income taxes payable | 24,558 | 4,025 | |||||||||||||||
Provisions | 55,969 | 14,958 | |||||||||||||||
Other non-current liabilities | 65,389 | 71,354 | |||||||||||||||
Deferred tax liabilities | 270,620 | 228,719 | |||||||||||||||
Total non-current liabilities | 5,121,138 | 5,433,247 | |||||||||||||||
Current liabilities: | |||||||||||||||||
Bonds and loans | 9 | 339,600 | 274,841 | ||||||||||||||
Trade and other payables | 649,233 | 421,078 | |||||||||||||||
Other financial liabilities | 185,537 | 307,543 | |||||||||||||||
Income taxes payable | 232,377 | 130,218 | |||||||||||||||
Provisions | 508,360 | 657,657 | |||||||||||||||
Other current liabilities | 566,689 | 576,279 | |||||||||||||||
Liabilities held for sale | 144 | — | |||||||||||||||
Total current liabilities | 2,481,940 | 2,367,617 | |||||||||||||||
Total liabilities | 7,603,078 | 7,800,864 |
JPY (millions) | |||||||||||||||||
Note | As of March 31, 2023 | As of September 30, 2023 | |||||||||||||||
EQUITY | |||||||||||||||||
Share capital | 1,676,345 | 1,676,503 | |||||||||||||||
Share premium | 1,728,830 | 1,711,109 | |||||||||||||||
Treasury shares | (100,317) | (51,246) | |||||||||||||||
Retained earnings | 1,541,146 | 1,446,018 | |||||||||||||||
Other components of equity | 1,508,119 | 2,287,969 | |||||||||||||||
Equity attributable to owners of the Company | 6,354,122 | 7,070,352 | |||||||||||||||
Non-controlling interests | 549 | 673 | |||||||||||||||
Total equity | 6,354,672 | 7,071,024 | |||||||||||||||
Total liabilities and equity | 13,957,750 | 14,871,889 |
JPY (millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note | Equity attributable to owners of the Company | Non- controlling interests | Total equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share capital | Share premium | Treasury shares | Retained earnings | Other components of equity | Total equity attributable to owners of the Company | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange differences on translation of foreign operations | Changes in fair value of financial assets measured at fair value through other comprehensive income | Cash flow hedges | Hedging cost | Remeasurements of defined benefit pension plans | Total other components of equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of April 1, 2022 | 1,676,263 | 1,708,873 | (116,007) | 1,479,716 | 984,141 | 22,068 | (65,901) | (6,135) | — | 934,173 | 5,683,019 | 504 | 5,683,523 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Effect of hyperinflation | (1,960) | 4,121 | 4,121 | 2,161 | 2,161 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restated opening balance | 1,676,263 | 1,708,873 | (116,007) | 1,477,756 | 988,263 | 22,068 | (65,901) | (6,135) | — | 938,294 | 5,685,180 | 504 | 5,685,684 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net profit for the period | 166,756 | — | 166,756 | (3) | 166,753 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 1,034,071 | 5,262 | (33,200) | (22,749) | 13,395 | 996,779 | 996,779 | 58 | 996,837 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) for the period | — | — | — | 166,756 | 1,034,071 | 5,262 | (33,200) | (22,749) | 13,395 | 996,779 | 1,163,535 | 55 | 1,163,590 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions with owners: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of new shares | 67 | 67 | — | 133 | 133 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of treasury shares | (5) | (27,051) | — | (27,057) | (27,057) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal of treasury shares | 0 | 0 | — | 1 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends | 10 | (138,217) | — | (138,217) | (138,217) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers from other components of equity | 23,906 | (10,510) | (13,395) | (23,906) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 29,335 | — | 29,335 | 29,335 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of share-based awards | (42,725) | 42,745 | — | 19 | 19 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total transactions with owners | 67 | (13,329) | 15,694 | (114,311) | — | (10,510) | — | — | (13,395) | (23,906) | (135,786) | — | (135,786) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2022 | 1,676,330 | 1,695,544 | (100,313) | 1,530,200 | 2,022,333 | 16,819 | (99,101) | (28,884) | — | 1,911,167 | 6,712,929 | 560 | 6,713,489 |
JPY (millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Note | Equity attributable to owners of the Company | Non- controlling interests | Total equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share capital | Share premium | Treasury shares | Retained earnings | Other components of equity | Total equity attributable to owners of the Company | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exchange differences on translation of foreign operations | Changes in fair value of financial assets measured at fair value through other comprehensive income | Cash flow hedges | Hedging cost | Remeasurements of defined benefit pension plans | Total other components of equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of April 1, 2023 | 1,676,345 | 1,728,830 | (100,317) | 1,541,146 | 1,606,128 | 12,470 | (87,352) | (23,127) | — | 1,508,119 | 6,354,122 | 549 | 6,354,672 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net profit for the period | 41,365 | — | 41,365 | 71 | 41,436 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income (loss) | 778,851 | 6,577 | (2,015) | (2,579) | 2,644 | 783,478 | 783,478 | 50 | 783,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive income (loss) for the period | — | — | — | 41,365 | 778,851 | 6,577 | (2,015) | (2,579) | 2,644 | 783,478 | 824,843 | 121 | 824,964 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transactions with owners: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of new shares | 158 | 158 | — | 315 | 315 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquisition of treasury shares | (2,355) | — | (2,355) | (2,355) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disposal of treasury shares | 0 | 0 | — | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dividends | 10 | (140,121) | — | (140,121) | (140,121) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in ownership | — | — | 3 | 3 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Transfers from other components of equity | 3,628 | (985) | (2,644) | (3,628) | — | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based compensation | 33,606 | — | 33,606 | 33,606 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of share-based awards | (51,485) | 51,426 | — | (60) | (60) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Total transactions with owners | 158 | (17,721) | 49,071 | (136,493) | — | (985) | — | — | (2,644) | (3,628) | (108,613) | 3 | (108,611) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
As of September 30, 2023 | 1,676,503 | 1,711,109 | (51,246) | 1,446,018 | 2,384,979 | 18,062 | (89,367) | (25,706) | — | 2,287,969 | 7,070,352 | 673 | 7,071,024 |
JPY (millions) | |||||||||||||||||
Six-month Period Ended September 30, | |||||||||||||||||
Notes | 2022 | 2023 | |||||||||||||||
Cash flows from operating activities: | |||||||||||||||||
Net profit for the period | 166,753 | 41,436 | |||||||||||||||
Depreciation and amortization | 326,110 | 354,197 | |||||||||||||||
Impairment losses | 35,950 | 126,703 | |||||||||||||||
Equity-settled share-based compensation | 29,335 | 33,977 | |||||||||||||||
Loss on sales and disposal of property, plant and equipment | 145 | 304 | |||||||||||||||
Gain on divestment of business and subsidiaries | (640) | (294) | |||||||||||||||
Change in fair value of financial assets and liabilities associated with contingent consideration arrangements, net | 446 | (150) | |||||||||||||||
Finance (income) and expenses, net | 33,565 | 81,783 | |||||||||||||||
Share of loss (profit) of investments accounted for using the equity method | 1,366 | (1,607) | |||||||||||||||
Income tax expenses (benefit) | 53,269 | (2,382) | |||||||||||||||
Changes in assets and liabilities: | |||||||||||||||||
Increase in trade and other receivables | (5,915) | (73,081) | |||||||||||||||
Increase in inventories | (15,778) | (77,938) | |||||||||||||||
Decrease in trade and other payables | (137,260) | (49,679) | |||||||||||||||
Increase (decrease) in provisions | (12,939) | 17,163 | |||||||||||||||
Increase (decrease) in other financial liabilities | (48,068) | 34,178 | |||||||||||||||
Other, net | (11,887) | (74,375) | |||||||||||||||
Cash generated from operations | 414,451 | 410,234 | |||||||||||||||
Income taxes paid | (115,432) | (129,040) | |||||||||||||||
Tax refunds and interest on tax refunds received | 6,215 | 10,111 | |||||||||||||||
Net cash from operating activities | 305,234 | 291,305 | |||||||||||||||
Cash flows from investing activities: | |||||||||||||||||
Interest received | 1,456 | 5,102 | |||||||||||||||
Dividends received | 2,415 | 147 | |||||||||||||||
Acquisition of property, plant and equipment | (71,423) | (83,804) | |||||||||||||||
Proceeds from sales of property, plant and equipment | 97 | 8,337 | |||||||||||||||
Acquisition of intangible assets | (67,562) | (255,476) | |||||||||||||||
Acquisition of investments | (4,694) | (2,264) | |||||||||||||||
Proceeds from sales and redemption of investments | 18,400 | 631 | |||||||||||||||
Proceeds from sales of business, net of cash and cash equivalents divested | — | 365 | |||||||||||||||
Other, net | (609) | (148) | |||||||||||||||
Net cash used in investing activities | (121,920) | (327,109) | |||||||||||||||
JPY (millions) | |||||||||||||||||
Six-month Period Ended September 30, | |||||||||||||||||
Notes | 2022 | 2023 | |||||||||||||||
Cash flows from financing activities: | |||||||||||||||||
Net increase in short-term loans and commercial papers | — | 110,000 | |||||||||||||||
Proceeds from issuance of bonds and long-term loans | — | 100,000 | |||||||||||||||
Repayments of bonds and long-term loans | (26,900) | (246,091) | |||||||||||||||
Proceeds from the settlement of cross currency interest rate swaps related to bonds | — | 60,063 | |||||||||||||||
Acquisition of treasury shares | (26,929) | (2,326) | |||||||||||||||
Interest paid | (52,719) | (49,711) | |||||||||||||||
Dividends paid | (140,007) | (139,811) | |||||||||||||||
Repayments of lease liabilities | (20,996) | (21,613) | |||||||||||||||
Other, net | (42) | (8,943) | |||||||||||||||
Net cash used in financing activities | (267,593) | (198,433) | |||||||||||||||
Net decrease in cash and cash equivalents | (84,278) | (234,237) | |||||||||||||||
Cash and cash equivalents at the beginning of the year | 849,695 | 533,530 | |||||||||||||||
Effects of exchange rate changes on cash and cash equivalents | 32,720 | 18,759 | |||||||||||||||
Cash and cash equivalents at the end of the period | 798,137 | 318,051 | |||||||||||||||
JPY (millions) | |||||||||||
Six-month Period Ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Sales of pharmaceutical products | 1,914,400 | 2,060,682 | |||||||||
Out-licensing and service income | 60,371 | 41,026 | |||||||||
Total | 1,974,771 | 2,101,707 | |||||||||
JPY (millions) | |||||||||||
Three-month period ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Sales of pharmaceutical products | 975,506 | 1,026,882 | |||||||||
Out-licensing and service income | 26,801 | 16,208 | |||||||||
Total | 1,002,307 | 1,043,089 | |||||||||
JPY (millions) | |||||||||||
Six-month Period Ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Gastroenterology: | |||||||||||
ENTYVIO | 346,616 | 391,709 | |||||||||
GATTEX/REVESTIVE | 48,434 | 58,890 | |||||||||
TAKECAB/VOCINTI (1) | 54,695 | 58,779 | |||||||||
DEXILANT | 37,990 | 23,165 | |||||||||
PANTOLOC/CONTROLOC (2) | 22,206 | 22,882 | |||||||||
ALOFISEL | 1,135 | 1,527 | |||||||||
Others | 35,314 | 39,915 | |||||||||
Total Gastroenterology | 546,391 | 596,867 | |||||||||
Rare Diseases: | |||||||||||
Rare Hematology: | |||||||||||
ADVATE | 62,368 | 62,704 | |||||||||
ADYNOVATE/ADYNOVI | 34,397 | 33,484 | |||||||||
FEIBA | 21,295 | 19,809 | |||||||||
VONVENDI | 5,899 | 7,434 | |||||||||
RECOMBINATE | 6,175 | 5,992 | |||||||||
Others | 25,584 | 23,299 | |||||||||
Total Rare Hematology | 155,718 | 152,721 |
JPY (millions) | |||||||||||
Six-month Period Ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Rare Genetics and Other: | |||||||||||
TAKHZYRO | 72,827 | 87,092 | |||||||||
ELAPRASE | 42,414 | 45,671 | |||||||||
REPLAGAL | 34,308 | 36,205 | |||||||||
VPRIV | 23,339 | 24,330 | |||||||||
LIVTENCITY | 4,228 | 8,325 | |||||||||
Others | 29,392 | 26,626 | |||||||||
Total Rare Genetics and Other | 206,508 | 228,250 | |||||||||
Total Rare Diseases | 362,226 | 380,971 | |||||||||
PDT Immunology: | |||||||||||
immunoglobulin | 245,055 | 309,158 | |||||||||
albumin | 51,765 | 58,947 | |||||||||
Others | 17,157 | 20,274 | |||||||||
Total PDT Immunology | 313,977 | 388,379 | |||||||||
Oncology: | |||||||||||
ADCETRIS | 41,715 | 54,271 | |||||||||
LEUPLIN/ENANTONE | 53,657 | 48,778 | |||||||||
NINLARO | 48,819 | 46,343 | |||||||||
ICLUSIG | 23,216 | 27,011 | |||||||||
ALUNBRIG | 9,710 | 13,712 | |||||||||
EXKIVITY | 1,439 | 3,467 | |||||||||
VELCADE | 20,829 | 2,907 | |||||||||
Others | 25,906 | 28,674 | |||||||||
Total Oncology | 225,291 | 225,163 | |||||||||
Neuroscience: | |||||||||||
VYVANSE/ELVANSE | 211,235 | 226,269 | |||||||||
TRINTELLIX | 49,798 | 50,968 | |||||||||
Others | 41,281 | 53,464 | |||||||||
Total Neuroscience | 302,314 | 330,701 | |||||||||
Other: | |||||||||||
AZILVA (1) | 37,185 | 23,681 | |||||||||
FOSRENOL | 7,526 | 8,138 | |||||||||
Others | 179,860 | 147,809 | |||||||||
Total Other | 224,572 | 179,628 | |||||||||
Total | 1,974,771 | 2,101,707 |
JPY (millions) | |||||||||||
Three-month period ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Gastroenterology: | |||||||||||
ENTYVIO | 178,349 | 199,721 | |||||||||
GATTEX/REVESTIVE | 26,518 | 31,800 | |||||||||
TAKECAB/VOCINTI (1) | 27,057 | 28,947 | |||||||||
DEXILANT | 15,660 | 11,127 | |||||||||
PANTOLOC/CONTROLOC (2) | 10,869 | 11,723 | |||||||||
ALOFISEL | 517 | 661 | |||||||||
Others | 17,038 | 19,344 | |||||||||
Total Gastroenterology | 276,009 | 303,323 | |||||||||
Rare Diseases: | |||||||||||
Rare Hematology: | |||||||||||
ADVATE | 30,262 | 28,876 | |||||||||
ADYNOVATE/ADYNOVI | 16,886 | 16,117 | |||||||||
FEIBA | 10,761 | 7,957 | |||||||||
VONVENDI | 2,978 | 3,678 | |||||||||
RECOMBINATE | 2,954 | 2,963 | |||||||||
Others | 12,746 | 11,755 | |||||||||
Total Rare Hematology | 76,587 | 71,346 | |||||||||
Rare Genetics and Other: | |||||||||||
TAKHZYRO | 38,778 | 45,763 | |||||||||
ELAPRASE | 20,220 | 22,822 | |||||||||
REPLAGAL | 16,708 | 18,226 | |||||||||
VPRIV | 11,474 | 12,447 | |||||||||
LIVTENCITY | 2,014 | 4,264 | |||||||||
Others | 14,806 | 13,459 | |||||||||
Total Rare Genetics and Other | 103,999 | 116,980 | |||||||||
Total Rare Diseases | 180,586 | 188,326 | |||||||||
PDT Immunology: | |||||||||||
immunoglobulin | 133,233 | 163,574 | |||||||||
albumin | 29,774 | 28,160 | |||||||||
Others | 9,108 | 10,131 | |||||||||
Total PDT Immunology | 172,115 | 201,865 | |||||||||
Oncology: | |||||||||||
ADCETRIS | 21,751 | 27,151 | |||||||||
LEUPLIN/ENANTONE | 25,664 | 24,175 | |||||||||
NINLARO | 25,071 | 25,311 | |||||||||
ICLUSIG | 11,961 | 14,415 | |||||||||
ALUNBRIG | 5,167 | 7,088 | |||||||||
EXKIVITY | 737 | 1,335 | |||||||||
VELCADE | 4,348 | 1,090 | |||||||||
Others | 13,110 | 14,139 | |||||||||
Total Oncology | 107,809 | 114,704 |
JPY (millions) | |||||||||||
Three-month period ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Neuroscience: | |||||||||||
VYVANSE/ELVANSE | 111,263 | 103,099 | |||||||||
TRINTELLIX | 28,364 | 26,649 | |||||||||
Others | 20,270 | 23,904 | |||||||||
Total Neuroscience | 159,897 | 153,652 | |||||||||
Other: | |||||||||||
AZILVA (1) | 17,629 | 5,008 | |||||||||
FOSRENOL | 3,325 | 3,975 | |||||||||
Others | 84,937 | 72,236 | |||||||||
Total Other | 105,891 | 81,219 | |||||||||
Total | 1,002,307 | 1,043,089 |
JPY (millions) | |||||||||||
Six-month Period Ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Japan | 261,353 | 228,528 | |||||||||
U.S. | 1,032,526 | 1,104,762 | |||||||||
Europe and Canada | 408,964 | 459,968 | |||||||||
Asia (excluding Japan) | 105,718 | 123,276 | |||||||||
Latin America | 83,258 | 92,069 | |||||||||
Russia/CIS | 37,817 | 31,090 | |||||||||
Other | 45,135 | 62,014 | |||||||||
Total | 1,974,771 | 2,101,707 | |||||||||
“Other” includes the Middle East, Oceania and Africa. This disaggregation provides revenue attributable to countries or regions based on the customer location. | |||||||||||
JPY (millions) | |||||||||||
Three-month period ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Japan | 120,818 | 103,705 | |||||||||
U.S. | 531,468 | 550,372 | |||||||||
Europe and Canada | 203,391 | 235,631 | |||||||||
Asia (excluding Japan) | 59,622 | 62,448 | |||||||||
Latin America | 42,973 | 48,352 | |||||||||
Russia/CIS | 20,451 | 13,727 | |||||||||
Other | 23,583 | 28,855 | |||||||||
Total | 1,002,307 | 1,043,089 | |||||||||
“Other” includes the Middle East, Oceania and Africa. This disaggregation provides revenue attributable to countries or regions based on the customer location. | |||||||||||
Six-month Period Ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Net profit for the period attributable to owners of the Company | |||||||||||
Net profit for the period attributable to owners of the Company (million JPY) | 166,756 | 41,365 | |||||||||
Net profit used for calculation of earnings per share (million JPY) | 166,756 | 41,365 | |||||||||
Weighted average number of ordinary shares outstanding during the period (thousands of shares) [basic] | 1,549,479 | 1,560,613 | |||||||||
Dilutive effect (thousands of shares) | 10,723 | 12,706 | |||||||||
Weighted average number of ordinary shares outstanding during the period (thousands of shares) [diluted] | 1,560,202 | 1,573,319 | |||||||||
Earnings per share | |||||||||||
Basic earnings per share (JPY) | 107.62 | 26.51 | |||||||||
Diluted earnings per share (JPY) | 106.88 | 26.29 | |||||||||
Three-month Period Ended September 30, | |||||||||||
2022 | 2023 | ||||||||||
Net profit for the period attributable to owners of the Company | |||||||||||
Net profit (loss) for the period attributable to owners of the Company (million JPY) | 61,742 | (48,030) | |||||||||
Net profit (loss) used for calculation of earnings per share (million JPY) | 61,742 | (48,030) | |||||||||
Weighted average number of ordinary shares outstanding during the period (thousands of shares) [basic] | 1,552,407 | 1,565,296 | |||||||||
Dilutive effect (thousands of shares) | 11,326 | — | |||||||||
Weighted average number of ordinary shares outstanding during the period (thousands of shares) [diluted] | 1,563,733 | 1,565,296 | |||||||||
Earnings per share | |||||||||||
Basic earnings (loss) per share (JPY) | 39.77 | (30.68) | |||||||||
Diluted earnings (loss) per share (JPY) | 39.48 | (30.68) |
Instrument | Issuance | Redemption date | Principal Amount in contractual currency | Type of redemption | ||||||||||||||||||||||
USD Unsecured Senior Notes | September 2016 | September 23, 2023 | USD1,000 million | Maturity redemption | ||||||||||||||||||||||
Instrument | Execution | Maturity | Principal Amount in contractual currency | ||||||||||||||||||||
Syndicated loans | April 2023 | April 2030 | JPY 100,000 million | ||||||||||||||||||||
Instrument | Execution | Repayment date | Principal Amount in contractual currency | Type of repayment | ||||||||||||||||||||||
Syndicated loans | April 2016 | April 26, 2023 | JPY 100,000 million | Maturity repayment | ||||||||||||||||||||||
Dividends declared and paid | Total dividends declared and paid JPY (millions) | Dividends per share (JPY) | Record date | Effective date | ||||||||||||||||||||||
April 1, 2022 to September 30, 2022 | ||||||||||||||||||||||||||
Q1 2022 | 140,365 | 90.00 | March 31, 2022 | June 30, 2022 | ||||||||||||||||||||||
April 1, 2023 to September 30, 2023 | ||||||||||||||||||||||||||
Q1 2023 | 140,475 | 90.00 | March 31, 2023 | June 29, 2023 | ||||||||||||||||||||||
Dividends declared | Total dividends declared JPY (millions) | Dividends per share (JPY) | Record date | Effective date | ||||||||||||||||||||||
Q3 2023 | 148,037 | 94.00 | September 30, 2023 | December 1, 2023 |
JPY (millions) | |||||||||||||||||||||||
As of September 30, 2023 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||
Assets: | |||||||||||||||||||||||
Financial assets measured at fair value through profit or loss | |||||||||||||||||||||||
Derivatives | — | 8,338 | 7,321 | 15,659 | |||||||||||||||||||
Investments in convertible notes | — | — | 10,785 | 10,785 | |||||||||||||||||||
Investments in debt instruments | — | — | 1,113 | 1,113 | |||||||||||||||||||
Financial assets associated with contingent consideration arrangements | — | — | 25,039 | 25,039 | |||||||||||||||||||
Derivatives for which hedge accounting is applied | — | 64,683 | — | 64,683 | |||||||||||||||||||
Financial assets measured at fair value through OCI | |||||||||||||||||||||||
Trade and other receivables | — | 84,152 | — | 84,152 | |||||||||||||||||||
Equity instruments | 91,317 | — | 95,969 | 187,286 | |||||||||||||||||||
Total | 91,317 | 157,173 | 140,227 | 388,717 | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Financial liabilities measured at fair value through profit or loss | |||||||||||||||||||||||
Derivatives | — | 6,709 | 7,321 | 14,030 | |||||||||||||||||||
Financial liabilities associated with contingent consideration arrangements | — | — | 8,481 | 8,481 | |||||||||||||||||||
Derivatives for which hedge accounting is applied | — | 39,939 | — | 39,939 | |||||||||||||||||||
Total | — | 46,648 | 15,802 | 62,450 |
JPY (millions) | |||||||||||
Six-month Period Ended September 30, 2023 | |||||||||||
Financial assets associated with contingent consideration arrangements | Equity instruments | ||||||||||
As of the beginning of the period | 23,806 | 83,236 | |||||||||
Changes recognized as finance income or finance expenses | (1,360) | — | |||||||||
Changes in fair value of financial assets measured at fair value through OCI and exchange differences on translation of foreign operations | 2,594 | 14,093 | |||||||||
Purchases | — | 363 | |||||||||
Sales | — | (1) | |||||||||
Transfers to Level 1 | — | (5,008) | |||||||||
Acquisition from conversion of convertible notes | — | 3,286 | |||||||||
As of the end of the period | 25,039 | 95,969 |
JPY (millions) | |||||
Six-month Period Ended September 30, 2023 | |||||
As of the beginning of the period | 8,139 | ||||
Changes in the fair value during the period | (121) | ||||
Foreign currency translation differences | 463 | ||||
As of the end of the period | 8,481 |
JPY (millions) | |||||||||||
As of September 30, 2023 | |||||||||||
Carrying amount | Fair value | ||||||||||
Bonds | 3,781,851 | 3,306,007 | |||||||||
Long-term loans | 747,026 | 741,196 |
(a) | Total amount of interim dividends | JPY 148,037,012,490 | ||||||
(b) | Interim dividend per share | JPY 94.00 | ||||||
(c) | Effective date/ Payment start date | December 1, 2023 |
FINANCIAL APPENDIX |
Definition of Non-IFRS Measures | ||||||||
Definition of Core Financial Measures, Constant Exchange Rate Change, Free Cash Flow, and U.S. Dollar Convenience Translations | A-1 | |||||||
Definition of EBITDA/Adjusted EBITDA and Net Debt | A-2 | |||||||
Reconciliations and Other Financial Information | ||||||||
FY2023 H1 Reported Results with CER % Change | A-3 | |||||||
FY2023 Q2 (Jul-Sep) Reported Results with CER % Change | A-4 | |||||||
FY2023 H1 Core Results with CER % Change | A-5 | |||||||
FY2023 Q2 (Jul-Sep) Core Results with CER % Change | A-6 | |||||||
FY2023 H1 Reconciliation from Reported to Core | A-7 | |||||||
FY2023 Q2 (Jul-Sep) Reconciliation from Reported to Core | A-8 | |||||||
FY2022 H1 Reconciliation from Reported to Core | A-9 | |||||||
FY2022 Q2 (Jul-Sep) Reconciliation from Reported to Core | A-10 | |||||||
FY2023 H1 Free Cash Flow | A-11 | |||||||
FY2023 H1 Net Debt to Adjusted EBITDA | A-12 | |||||||
FY2022 Net Debt to Adjusted EBITDA | A-13 | |||||||
FY2023 H1 Net Profit to Adjusted EBITDA Bridge | A-14 | |||||||
FY2023 H1 Net Profit to Adjusted EBITDA LTM Bridge | A-15 | |||||||
FY2023 H1 CAPEX, Depreciation and Amortization and Impairment Losses | A-16 | |||||||
FY2023 Full Year Detailed Forecast | A-17 | |||||||
FY2023 Full Year Reconciliation from Reported Operating Profit to Core Operating Profit Forecast | A-18 | |||||||
FY2023 Full Year FX Rates Assumptions and Currency Sensitivity | A-19 | |||||||
Important Notice | ||||||||
Important Notice, Forward-Looking Statements | A-20 |
Definition of Core Financial Measures, Constant Exchange Rate Change, Free Cash Flow, and U.S. Dollar Convenience Translations |
Definition of EBITDA/Adjusted EBITDA and Net Debt |
FY2023 H1 Reported Results with CER % Change |
(Billion JPY, except EPS) | FY2022 H1 | FY2023 H1 | vs. PY | (Million USD, except EPS) FY2023 H1 Convenience USD Translation | ||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||
Amount of Change | % CHANGE | % CHANGE | ||||||||||||||||||||||||
Revenue | 1,974.8 | 2,101.7 | 126.9 | 6.4% | 1.4% | 14,065 | ||||||||||||||||||||
Cost of sales | (598.3) | (664.7) | (66.4) | (11.1)% | (6.0)% | (4,448) | ||||||||||||||||||||
Gross profit | 1,376.4 | 1,437.0 | 60.6 | 4.4% | (0.5)% | 9,617 | ||||||||||||||||||||
Margin | 69.7 | % | 68.4 | % | (1.3) pp | (1.4) pp | 68.4 | % | ||||||||||||||||||
SG&A expenses | (480.2) | (501.1) | (20.9) | (4.3)% | 0.8% | (3,353) | ||||||||||||||||||||
R&D expenses | (297.8) | (346.7) | (48.9) | (16.4)% | (9.6)% | (2,320) | ||||||||||||||||||||
Amortization of intangible assets associated with products | (240.8) | (253.9) | (13.1) | (5.4)% | 1.5% | (1,699) | ||||||||||||||||||||
Impairment losses on intangible assets associated with products | (32.8) | (115.8) | (82.9) | (252.5)% | (226.2)% | (775) | ||||||||||||||||||||
Other operating income | 13.5 | 9.9 | (3.6) | (26.7)% | (27.6)% | 66 | ||||||||||||||||||||
Other operating expenses | (83.4) | (110.2) | (26.9) | (32.2)% | (27.1)% | (738) | ||||||||||||||||||||
Operating profit | 255.0 | 119.2 | (135.7) | (53.2)% | (50.6)% | 798 | ||||||||||||||||||||
Margin | 12.9 | % | 5.7 | % | (7.2) pp | (6.6) pp | 5.7 | % | ||||||||||||||||||
Finance income | 75.7 | 24.3 | (51.4) | (67.9)% | (68.3)% | 163 | ||||||||||||||||||||
Finance expenses | (109.3) | (106.1) | 3.2 | 2.9% | 1.9% | (710) | ||||||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | (1.4) | 1.6 | 3.0 | ― | ― | 11 | ||||||||||||||||||||
Profit before tax | 220.0 | 39.1 | (181.0) | (82.3)% | (79.8)% | 261 | ||||||||||||||||||||
Income tax (expenses) benefit | (53.3) | 2.4 | 55.7 | ― | 86.0% | 16 | ||||||||||||||||||||
Net profit for the period | 166.8 | 41.4 | (125.3) | (75.2)% | (77.8)% | 277 | ||||||||||||||||||||
Non-controlling interests | 0.0 | (0.1) | (0.1) | ― | ― | (0) | ||||||||||||||||||||
Net profit attributable to owners of the Company | 166.8 | 41.4 | (125.4) | (75.2)% | (77.8)% | 277 | ||||||||||||||||||||
Basic EPS (JPY or USD) | 107.62 | 26.51 | (81.12) | (75.4)% | (78.0)% | 0.18 | ||||||||||||||||||||
When comparing results to the same period of the previous fiscal year, the amount of change and percentage change based on Actual Exchange Rates are presented in “AER” (which is presented in accordance with IFRS) and percentage change based on Constant Exchange Rate (which is a non-IFRS measure) is presented in “CER”. Please refer to A-1 Definition of Core Financial Measures, Constant Exchange Rate Change, Free Cash Flow, and U.S. Dollar Convenience Translations, for the definition of the “Constant Exchange Rate change”. | ||||||||||||||||||||||||||
% change versus prior year is presented as positive when favorable to profits, and negative when unfavorable to profits. |
FY2023 Q2 (Jul-Sep) Reported Results with CER % Change |
(Billion JPY, except EPS) | FY2022 Q2 (Jul-Sep) | FY2023 Q2 (Jul-Sep) | vs. PY | (Million USD, except EPS) FY2023 Q2 (Jul-Sep) Convenience USD Translation | ||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||
Amount of Change | % CHANGE | % CHANGE | ||||||||||||||||||||||||
Revenue | 1,002.3 | 1,043.1 | 40.8 | 4.1% | (0.8)% | 6,980 | ||||||||||||||||||||
Cost of sales | (305.4) | (343.6) | (38.1) | (12.5)% | (7.3)% | (2,299) | ||||||||||||||||||||
Gross profit | 696.9 | 699.5 | 2.6 | 0.4% | (4.3)% | 4,681 | ||||||||||||||||||||
Margin | 69.5 | % | 67.1 | % | (2.5) pp | (2.5) pp | 67.1 | % | ||||||||||||||||||
SG&A expenses | (248.7) | (253.0) | (4.2) | (1.7)% | 3.4% | (1,693) | ||||||||||||||||||||
R&D expenses | (154.1) | (183.9) | (29.8) | (19.3)% | (12.4)% | (1,231) | ||||||||||||||||||||
Amortization of intangible assets associated with products | (123.8) | (130.7) | (6.9) | (5.6)% | 1.1% | (875) | ||||||||||||||||||||
Impairment losses on intangible assets associated with products | (18.6) | (109.5) | (90.9) | (489.0)% | (444.0)% | (733) | ||||||||||||||||||||
Other operating income | 8.0 | 5.7 | (2.3) | (29.1)% | (31.4)% | 38 | ||||||||||||||||||||
Other operating expenses | (55.2) | (77.4) | (22.2) | (40.2)% | (35.9)% | (518) | ||||||||||||||||||||
Operating profit | 104.4 | (49.3) | (153.8) | ― | ― | (330) | ||||||||||||||||||||
Margin | 10.4 | % | (4.7) | % | (15.2) pp | (14.4) pp | (4.7) | % | ||||||||||||||||||
Finance income | 14.8 | 9.4 | (5.4) | (36.7)% | (25.7)% | 63 | ||||||||||||||||||||
Finance expenses | (53.8) | (58.1) | (4.2) | (7.8)% | (16.1)% | (389) | ||||||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | (0.9) | 2.0 | 2.9 | ― | ― | 14 | ||||||||||||||||||||
Profit before tax | 64.5 | (96.0) | (160.5) | ― | ― | (642) | ||||||||||||||||||||
Income tax (expenses) benefit | (2.8) | 48.0 | 50.8 | ― | ― | 321 | ||||||||||||||||||||
Net profit for the period | 61.7 | (48.0) | (109.7) | ― | ― | (321) | ||||||||||||||||||||
Non-controlling interests | 0.0 | (0.1) | (0.1) | ― | ― | (0) | ||||||||||||||||||||
Net profit attributable to owners of the Company | 61.7 | (48.0) | (109.8) | ― | ― | (321) | ||||||||||||||||||||
Basic EPS (JPY or USD) | 39.77 | (30.68) | (70.46) | ― | ― | (0.21) | ||||||||||||||||||||
When comparing results to the same period of the previous fiscal year, the amount of change and percentage change based on Actual Exchange Rates are presented in “AER” (which is presented in accordance with IFRS) and percentage change based on Constant Exchange Rate (which is a non-IFRS measure) is presented in “CER”. Please refer to A-1 Definition of Core Financial Measures, Constant Exchange Rate Change, Free Cash Flow, and U.S. Dollar Convenience Translations, for the definition of the “Constant Exchange Rate change”. | ||||||||||||||||||||||||||
% change versus prior year is presented as positive when favorable to profits, and negative when unfavorable to profits. |
FY2023 H1 Core Results with CER % Change |
(Billion JPY, except EPS) | FY2022 H1 | FY2023 H1 | vs. PY | (Million USD, except EPS) FY2023 H1 Convenience USD Translation | ||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||
Amount of Change | % CHANGE | % CHANGE | ||||||||||||||||||||||||
Revenue | 1,974.8 | 2,101.7 | 126.9 | 6.4% | 1.4% | 14,065 | ||||||||||||||||||||
Cost of sales | (571.6) | (664.8) | (93.3) | (16.3)% | (10.9)% | (4,449) | ||||||||||||||||||||
Gross profit | 1,403.2 | 1,436.9 | 33.7 | 2.4% | (2.4)% | 9,616 | ||||||||||||||||||||
Margin | 71.1 | % | 68.4 | % | (2.7) pp | (2.7) pp | 68.4 | % | ||||||||||||||||||
SG&A expenses | (480.5) | (501.4) | (20.9) | (4.3)% | 0.8% | (3,356) | ||||||||||||||||||||
R&D expenses | (297.5) | (346.7) | (49.2) | (16.5)% | (9.7)% | (2,320) | ||||||||||||||||||||
Operating profit | 625.2 | 588.8 | (36.4) | (5.8)% | (9.5)% | 3,940 | ||||||||||||||||||||
Margin | 31.7 | % | 28.0 | % | (3.6) pp | (3.4) pp | 28.0 | % | ||||||||||||||||||
Finance income | 32.6 | 24.0 | (8.6) | (26.4)% | (27.2)% | 161 | ||||||||||||||||||||
Finance expenses | (100.8) | (87.8) | 13.0 | 12.9% | 18.9% | (588) | ||||||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | 2.7 | 2.3 | (0.4) | (14.4)% | (13.7)% | 15 | ||||||||||||||||||||
Profit before tax | 559.6 | 527.2 | (32.4) | (5.8)% | (8.8)% | 3,528 | ||||||||||||||||||||
Income tax (expenses) benefit | (112.9) | (119.4) | (6.6) | (5.8)% | (11.0)% | (799) | ||||||||||||||||||||
Net profit for the period | 446.7 | 407.8 | (38.9) | (8.7)% | (13.8)% | 2,729 | ||||||||||||||||||||
Non-controlling interests | 0.0 | (0.1) | (0.1) | ― | ― | (0) | ||||||||||||||||||||
Net profit attributable to owners of the Company | 446.7 | 407.7 | (39.0) | (8.7)% | (13.8)% | 2,728 | ||||||||||||||||||||
Basic EPS (JPY or USD) | 288 | 261 | (27) | (9.4)% | (14.4)% | 1.75 | ||||||||||||||||||||
When comparing results to the same period of the previous fiscal year, the amount of change and percentage change based on Actual Exchange Rates are presented in “AER” (which is presented in accordance with IFRS) and percentage change based on Constant Exchange Rate (which is a non-IFRS measure) is presented in “CER”. Please refer to A-1 Definition of Core Financial Measures, Constant Exchange Rate Change, Free Cash Flow, and U.S. Dollar Convenience Translations, for the definition of the “Constant Exchange Rate change”. | ||||||||||||||||||||||||||
% change versus prior year is presented as positive when favorable to profits, and negative when unfavorable to profits. |
FY2023 Q2 (Jul-Sep) Core Results with CER % Change |
(Billion JPY, except EPS) | FY2022 Q2 (Jul-Sep) | FY2023 Q2 (Jul-Sep) | vs. PY | (Million USD, except EPS) FY2023 Q2 (Jul-Sep) Convenience USD Translation | ||||||||||||||||||||||
AER | CER | |||||||||||||||||||||||||
Amount of Change | % CHANGE | % CHANGE | ||||||||||||||||||||||||
Revenue | 1,002.3 | 1,043.1 | 40.8 | 4.1% | (0.8)% | 6,980 | ||||||||||||||||||||
Cost of sales | (293.3) | (343.6) | (50.3) | (17.1)% | (11.7)% | (2,299) | ||||||||||||||||||||
Gross profit | 709.0 | 699.5 | (9.5) | (1.3)% | (5.9)% | 4,681 | ||||||||||||||||||||
Margin | 70.7 | % | 67.1 | % | (3.7) pp | (3.7) pp | 67.1 | % | ||||||||||||||||||
SG&A expenses | (248.8) | (253.1) | (4.3) | (1.7)% | 3.3% | (1,694) | ||||||||||||||||||||
R&D expenses | (154.0) | (183.9) | (29.9) | (19.4)% | (12.6)% | (1,231) | ||||||||||||||||||||
Operating profit | 306.1 | 262.4 | (43.7) | (14.3)% | (17.3)% | 1,756 | ||||||||||||||||||||
Margin | 30.5 | % | 25.2 | % | (5.4) pp | (5.1) pp | 25.2 | % | ||||||||||||||||||
Finance income | 8.9 | 9.2 | 0.3 | 3.2% | 21.6% | 61 | ||||||||||||||||||||
Finance expenses | (50.0) | (44.5) | 5.6 | 11.1% | 12.7% | (298) | ||||||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | 1.7 | 1.5 | (0.2) | (11.6)% | (11.1)% | 10 | ||||||||||||||||||||
Profit before tax | 266.7 | 228.7 | (38.0) | (14.3)% | (16.8)% | 1,530 | ||||||||||||||||||||
Income tax (expenses) benefit | (44.2) | (54.3) | (10.1) | (22.9)% | (42.9)% | (363) | ||||||||||||||||||||
Net profit for the period | 222.5 | 174.4 | (48.2) | (21.6)% | (28.6)% | 1,167 | ||||||||||||||||||||
Non-controlling interests | 0.0 | (0.1) | (0.1) | ― | ― | (0) | ||||||||||||||||||||
Net profit attributable to owners of the Company | 222.5 | 174.3 | (48.2) | (21.7)% | (28.6)% | 1,167 | ||||||||||||||||||||
Basic EPS (JPY or USD) | 143 | 111 | (32) | (22.3)% | (29.2)% | 0.75 | ||||||||||||||||||||
When comparing results to the same period of the previous fiscal year, the amount of change and percentage change based on Actual Exchange Rates are presented in “AER” (which is presented in accordance with IFRS) and percentage change based on Constant Exchange Rate (which is a non-IFRS measure) is presented in “CER”. Please refer to A-1 Definition of Core Financial Measures, Constant Exchange Rate Change, Free Cash Flow, and U.S. Dollar Convenience Translations, for the definition of the “Constant Exchange Rate change”. | ||||||||||||||||||||||||||
% change versus prior year is presented as positive when favorable to profits, and negative when unfavorable to profits. |
FY2023 H1 Reconciliation from Reported to Core |
(Billion JPY, except EPS and number of shares) | REPORTED | REPORTED TO CORE ADJUSTMENTS | CORE | |||||||||||||||||
Amortization of intangible assets | Impairment of intangible assets | Other operating income/ expenses | Others | |||||||||||||||||
Revenue | 2,101.7 | 2,101.7 | ||||||||||||||||||
Cost of sales | (664.7) | (0.1) | (664.8) | |||||||||||||||||
Gross profit | 1,437.0 | (0.1) | 1,436.9 | |||||||||||||||||
SG&A expenses | (501.1) | (0.3) | (501.4) | |||||||||||||||||
R&D expenses | (346.7) | 0.0 | (346.7) | |||||||||||||||||
Amortization of intangible assets associated with products | (253.9) | 253.9 | — | |||||||||||||||||
Impairment losses on intangible assets associated with products | (115.8) | 115.8 | — | |||||||||||||||||
Other operating income | 9.9 | (9.9) | — | |||||||||||||||||
Other operating expenses | (110.2) | 110.2 | — | |||||||||||||||||
Operating profit | 119.2 | 253.9 | 115.8 | 100.4 | (0.5) | 588.8 | ||||||||||||||
Margin | 5.7 | % | 28.0% | |||||||||||||||||
Finance income and (expenses), net | (81.8) | 18.0 | (63.8) | |||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | 1.6 | 0.7 | 2.3 | |||||||||||||||||
Profit before tax | 39.1 | 253.9 | 115.8 | 100.4 | 18.1 | 527.2 | ||||||||||||||
Income tax (expenses) benefit | 2.4 | (54.1) | (25.6) | (16.5) | (25.6) | (119.4) | ||||||||||||||
Non-controlling interests | (0.1) | (0.1) | ||||||||||||||||||
Net profit attributable to owners of the Company | 41.4 | 199.8 | 90.1 | 83.8 | (7.5) | 407.7 | ||||||||||||||
EPS (JPY) | 27 | 261 | ||||||||||||||||||
Number of shares (millions) | 1,561 | 1,561 |
FY2023 Q2 (Jul-Sep) Reconciliation from Reported to Core |
(Billion JPY, except EPS and number of shares) | REPORTED | REPORTED TO CORE ADJUSTMENTS | CORE | |||||||||||||||||
Amortization of intangible assets | Impairment of intangible assets | Other operating income/ expenses | Others | |||||||||||||||||
Revenue | 1,043.1 | 1,043.1 | ||||||||||||||||||
Cost of sales | (343.6) | (0.0) | (343.6) | |||||||||||||||||
Gross profit | 699.5 | (0.0) | 699.5 | |||||||||||||||||
SG&A expenses | (253.0) | (0.2) | (253.1) | |||||||||||||||||
R&D expenses | (183.9) | 0.0 | (183.9) | |||||||||||||||||
Amortization of intangible assets associated with products | (130.7) | 130.7 | — | |||||||||||||||||
Impairment losses on intangible assets associated with products | (109.5) | 109.5 | — | |||||||||||||||||
Other operating income | 5.6 | (5.6) | — | |||||||||||||||||
Other operating expenses | (77.3) | 77.3 | — | |||||||||||||||||
Operating profit | (49.3) | 130.7 | 109.5 | 71.7 | (0.2) | 262.4 | ||||||||||||||
Margin | (4.7) | % | 25.2% | |||||||||||||||||
Finance income and (expenses), net | (48.7) | 13.4 | (35.3) | |||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | 2.0 | (0.5) | 1.5 | |||||||||||||||||
Profit before tax | (96.0) | 130.7 | 109.5 | 71.7 | 12.7 | 228.7 | ||||||||||||||
Income tax (expenses) benefit | 48.0 | (27.8) | (24.3) | (10.1) | (40.1) | (54.3) | ||||||||||||||
Non-controlling interests | (0.1) | (0.1) | ||||||||||||||||||
Net profit attributable to owners of the Company | (48.0) | 102.9 | 85.3 | 61.6 | (27.4) | 174.3 | ||||||||||||||
EPS (JPY) | (31) | 111 | ||||||||||||||||||
Number of shares (millions) | 1,565 | 1,565 |
FY2022 H1 Reconciliation from Reported to Core |
(Billion JPY, except EPS and number of shares) | REPORTED | REPORTED TO CORE ADJUSTMENTS | CORE | |||||||||||||||||
Amortization of intangible assets | Impairment of intangible assets | Other operating income/ expenses | Others | |||||||||||||||||
Revenue | 1,974.8 | 1,974.8 | ||||||||||||||||||
Cost of sales | (598.3) | 26.8 | (571.6) | |||||||||||||||||
Gross profit | 1,376.4 | 26.8 | 1,403.2 | |||||||||||||||||
SG&A expenses | (480.2) | (0.3) | (480.5) | |||||||||||||||||
R&D expenses | (297.8) | 0.3 | (297.5) | |||||||||||||||||
Amortization of intangible assets associated with products | (240.8) | 240.8 | — | |||||||||||||||||
Impairment losses on intangible assets associated with products | (32.8) | 32.8 | — | |||||||||||||||||
Other operating income | 13.5 | (13.5) | — | |||||||||||||||||
Other operating expenses | (83.4) | 83.4 | — | |||||||||||||||||
Operating profit | 255.0 | 240.8 | 32.8 | 69.9 | 26.7 | 625.2 | ||||||||||||||
Margin | 12.9 | % | 31.7% | |||||||||||||||||
Finance income and (expenses), net | (33.6) | (34.7) | (68.3) | |||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | (1.4) | 4.0 | 2.7 | |||||||||||||||||
Profit before tax | 220.0 | 240.8 | 32.8 | 69.9 | (4.0) | 559.6 | ||||||||||||||
Income tax (expenses) benefit | (53.3) | (51.5) | (7.0) | (13.1) | 12.0 | (112.9) | ||||||||||||||
Non-controlling interests | 0.0 | 0.0 | ||||||||||||||||||
Net profit attributable to owners of the Company | 166.8 | 189.3 | 25.8 | 56.8 | 8.0 | 446.7 | ||||||||||||||
EPS (JPY) | 108 | 288 | ||||||||||||||||||
Number of shares (millions) | 1,549 | 1,549 |
FY2022 Q2 (Jul-Sep) Reconciliation from Reported to Core |
(Billion JPY, except EPS and number of shares) | REPORTED | REPORTED TO CORE ADJUSTMENTS | CORE | |||||||||||||||||
Amortization of intangible assets | Impairment of intangible assets | Other operating income/ expenses | Others | |||||||||||||||||
Revenue | 1,002.3 | 1,002.3 | ||||||||||||||||||
Cost of sales | (305.4) | 12.1 | (293.3) | |||||||||||||||||
Gross profit | 696.9 | 12.1 | 709.0 | |||||||||||||||||
SG&A expenses | (248.7) | (0.1) | (248.8) | |||||||||||||||||
R&D expenses | (154.1) | 0.2 | (154.0) | |||||||||||||||||
Amortization of intangible assets associated with products | (123.8) | 123.8 | — | |||||||||||||||||
Impairment losses on intangible assets associated with products | (18.6) | 18.6 | — | |||||||||||||||||
Other operating income | 8.0 | (8.0) | — | |||||||||||||||||
Other operating expenses | (55.2) | 55.2 | — | |||||||||||||||||
Operating profit | 104.4 | 123.8 | 18.6 | 47.2 | 12.1 | 306.1 | ||||||||||||||
Margin | 10.4 | % | 30.5% | |||||||||||||||||
Finance income and (expenses), net | (39.0) | (2.1) | (41.1) | |||||||||||||||||
Share of profit (loss) of investments accounted for using the equity method | (0.9) | 2.6 | 1.7 | |||||||||||||||||
Profit before tax | 64.5 | 123.8 | 18.6 | 47.2 | 12.6 | 266.7 | ||||||||||||||
Income tax (expenses) benefit | (2.8) | (26.5) | (3.9) | (9.1) | (1.9) | (44.2) | ||||||||||||||
Non-controlling interests | 0.0 | 0.0 | ||||||||||||||||||
Net profit attributable to owners of the Company | 61.7 | 97.3 | 14.7 | 38.0 | 10.7 | 222.5 | ||||||||||||||
EPS (JPY) | 40 | 143 | ||||||||||||||||||
Number of shares (millions) | 1,552 | 1,552 |
FY2023 H1 Free Cash Flow | ||||||||||||||||||||
(Billion JPY) | FY2022 H1 | FY2023 H1 | vs. PY | (Million USD) FY2023 H1 Convenience USD Translation | ||||||||||||||||
Net profit | 166.8 | 41.4 | (125.3) | (75.2) | % | 277 | ||||||||||||||
Depreciation, amortization and impairment loss | 362.1 | 480.9 | 118.8 | 3,218 | ||||||||||||||||
Decrease (increase) in trade working capital | (159.0) | (200.7) | (41.7) | (1,343) | ||||||||||||||||
Income taxes paid | (115.4) | (129.0) | (13.6) | (864) | ||||||||||||||||
Tax refunds and interest on tax refunds received | 6.2 | 10.1 | 3.9 | 68 | ||||||||||||||||
Other | 44.6 | 88.6 | 44.0 | 593 | ||||||||||||||||
Net cash from operating activities (Operating Cash Flow) | 305.2 | 291.3 | (13.9) | (4.6) | % | 1,949 | ||||||||||||||
Adjustment for cash temporarily held by Takeda on behalf of third parties*1 | 116.8 | (30.2) | (147.1) | (202) | ||||||||||||||||
Acquisition of PP&E | (71.4) | (83.8) | (12.4) | (561) | ||||||||||||||||
Proceeds from sales of PP&E | 0.1 | 8.3 | 8.2 | 56 | ||||||||||||||||
Acquisition of intangible assets | (67.6) | (255.5) | (187.9) | (1,710) | ||||||||||||||||
Acquisition of investments | (4.7) | (2.3) | 2.4 | (15) | ||||||||||||||||
Proceeds from sales and redemption of investments | 18.4 | 0.6 | (17.8) | 4 | ||||||||||||||||
Proceeds from sales of business, net of cash and cash equivalents divested | — | 0.4 | 0.4 | 2 | ||||||||||||||||
Free Cash Flow | 296.9 | (71.1) | (368.0) | — | (476) | |||||||||||||||
*1 Adjustment refers to changes in cash balance that is temporarily held by Takeda on behalf of third parties related to vaccine operations and the trade receivables sales program. | ||||||||||||||||||||
FY2023 H1 Net Debt to Adjusted EBITDA | |||||||||||||||||||||||
NET DEBT/ADJUSTED EBITDA RATIO | NET INCREASE (DECREASE) IN CASH | ||||||||||||||||||||||
(Billion JPY) | FY2023 H1 | (Billion JPY) | FY2022 H1 | FY2023 H1 | vs. PY | ||||||||||||||||||
Cash & cash equivalents and Level 1 debt investments*1 | 162.0 | Net cash from operating activities | 305.2 | 291.3 | (13.9) | (4.6) | % | ||||||||||||||||
Book value debt on consolidated statements of financial position | (4,679.2) | Acquisition of PP&E | (71.4) | (83.8) | |||||||||||||||||||
Hybrid bond 50% equity credit | 250.0 | Proceeds from sales of PP&E | 0.1 | 8.3 | |||||||||||||||||||
FX adjustment*2 | 216.7 | Acquisition of intangible assets | (67.6) | (255.5) | |||||||||||||||||||
Gross debt*3 | (4,212.5) | Acquisition of investments | (4.7) | (2.3) | |||||||||||||||||||
Net cash (debt) | (4,050.5) | Proceeds from sales and redemption of investments | 18.4 | 0.6 | |||||||||||||||||||
Proceeds from sales of business, net of cash and cash equivalents divested | — | 0.4 | |||||||||||||||||||||
Net debt/Adjusted EBITDA ratio | 2.9x | Net increase in short-term loans and commercial papers | — | 110.0 | |||||||||||||||||||
Proceeds from long-term loans | — | 100.0 | |||||||||||||||||||||
Adjusted EBITDA | 1,406.2 | Repayment of long-term loans | (0.1) | (100.2) | |||||||||||||||||||
Repayment of bonds | (26.8) | (145.9) | |||||||||||||||||||||
Proceeds from the settlement of cross currency interest rate swaps related to bonds | — | 60.1 | |||||||||||||||||||||
Purchase of treasury shares | (26.9) | (2.3) | |||||||||||||||||||||
Interest paid | (52.7) | (49.7) | |||||||||||||||||||||
Dividends paid | (140.0) | (139.8) | |||||||||||||||||||||
Others | (17.8) | (25.5) | |||||||||||||||||||||
Net increase (decrease) in cash | (84.3) | (234.2) | (150.0) | (177.9) | % | ||||||||||||||||||
*1 Represents cash & cash equivalents, excluding cash temporarily held by Takeda on behalf of third parties related to vaccine operations and to the trade receivables sales program, and debt investments classified as Level 1 in the fair value hierarchy being recorded as Other Financial Assets. For the calculation of net debt, starting from the quarter ended June 30, 2023, debt investments classified as Level 1 in the fair value hierarchy being recorded as Other Financial Assets are included in the items deducted from gross debt. Had the same methodology been used for the calculation of net debt as of March 31, 2023 and prior periods, net debt would have remained unchanged. | |||||||||||||||||||||||
*2 FX adjustment refers to change from month-end rate to average rate used for non-JPY debt calculation outstanding at the beginning of the period to match with adjusted EBITDA (which is calculated based on average rates). New non-JPY debt incurred and existing non-JPY debt redeemed during the reporting period are translated to JPY at relevant spot rates as of the relevant date. | |||||||||||||||||||||||
*3 Bonds and loans of current and non-current liabilities. JPY 250.0 billion reduction in debt due to JPY 500.0 billion hybrid bond issuance in June 2019, given that the hybrid bond qualifies for 50% equity credit for leverage purposes. Includes non-cash adjustments related to debt amortization and FX impact. | |||||||||||||||||||||||
FY2022 Net Debt to Adjusted EBITDA | |||||||||||||||||||||||
NET DEBT/ADJUSTED EBITDA RATIO | NET INCREASE (DECREASE) IN CASH | ||||||||||||||||||||||
(Billion JPY) | FY2022 | (Billion JPY) | FY2021 | FY2022 | vs. PY | ||||||||||||||||||
Cash and cash equivalents*1 | 407.7 | Net cash from operating activities | 1,123.1 | 977.2 | (145.9) | (13.0) | % | ||||||||||||||||
Book value debt on consolidated statements of financial position | (4,382.3) | Acquisition of PP&E | (123.3) | (140.7) | |||||||||||||||||||
Hybrid bond 50% equity credit | 250.0 | Proceeds from sales of PP&E | 1.8 | 1.0 | |||||||||||||||||||
FX adjustment*2 | 8.5 | Acquisition of intangible assets | (62.8) | (493.0) | |||||||||||||||||||
Gross debt*3 | (4,123.9) | Acquisition of investments | (8.3) | (10.2) | |||||||||||||||||||
Net cash (debt) | (3,716.1) | Proceeds from sales and redemption of investments | 16.9 | 22.3 | |||||||||||||||||||
Acquisition of business, net of cash and cash equivalents acquired | (49.7) | — | |||||||||||||||||||||
Upfront payment related to the acquisition of TAK-279*4 | 400.4 | Proceeds from sales of business, net of cash and cash equivalents divested | 28.2 | 8.0 | |||||||||||||||||||
Net cash (debt) excluding upfront payment related to the acquisition of TAK-279 | (3,315.7) | Net decrease in short-term loans and commercial papers | (0.0) | 40.0 | |||||||||||||||||||
Proceeds from long-term loans | — | 75.0 | |||||||||||||||||||||
Repayment of long-term loans | (414.1) | (75.2) | |||||||||||||||||||||
Net debt/Adjusted EBITDA ratio | 2.6 | x | Proceeds from issuance of bonds | 249.3 | — | ||||||||||||||||||
Net debt/Adjusted EBITDA ratio excluding upfront payment related to the acquisition of TAK-279 | 2.3 | x | Repayment of bonds | (396.0) | (281.5) | ||||||||||||||||||
Purchase of treasury shares | (77.5) | (26.9) | |||||||||||||||||||||
Interest paid | (108.2) | (108.6) | |||||||||||||||||||||
Adjusted EBITDA | 1,421.8 | Dividends paid | (283.7) | (279.4) | |||||||||||||||||||
Others | (41.1) | (47.0) | |||||||||||||||||||||
Net increase (decrease) in cash | (145.3) | (339.1) | (193.8) | (133.4) | % | ||||||||||||||||||
*1 Includes short-term investments which mature or become due within one year from the reporting date and excludes cash temporarily held by Takeda on behalf of third parties related to vaccine operations and the trade receivables sales program. | |||||||||||||||||||||||
*2 FX adjustment refers to change from month-end rate to average rate used for non-JPY debt calculation outstanding at the beginning of the period to match with adjusted EBITDA (which is calculated based on average rates). New non-JPY debt incurred and existing non-JPY debt redeemed during the reporting period are translated to JPY at relevant spot rates as of the relevant date. | |||||||||||||||||||||||
*3 Bonds and loans of current and non-current liabilities. JPY 250.0 billion reduction in debt due to JPY 500.0 billion hybrid bond issuance in June 2019, given that the hybrid bond qualifies for 50% equity credit for leverage purposes. Includes non-cash adjustments related to debt amortization and FX impact. | |||||||||||||||||||||||
*4 This represents the portion of the USD 4.0 billion upfront payment related to the acquisition of TAK-279 paid in February 2023 (such portion totaling USD 3.0 billion), converted to JPY using the Japanese yen – U.S. dollar exchange rate of 133.48, which is applicable to translation of foreign currency denominated cash as of March 31, 2023. | |||||||||||||||||||||||
FY2023 H1 Net Profit to Adjusted EBITDA Bridge | ||||||||||||||
(Billion JPY) | FY2022 H1 | FY2023 H1 | vs. PY | |||||||||||
Net profit | 166.8 | 41.4 | (125.3) | (75.2) | % | |||||||||
Income tax expenses | 53.3 | (2.4) | ||||||||||||
Depreciation and amortization | 326.1 | 354.2 | ||||||||||||
Interest expense, net | 57.5 | 54.0 | ||||||||||||
EBITDA | 603.7 | 447.2 | (156.5) | (25.9) | % | |||||||||
Impairment losses | 36.0 | 126.7 | ||||||||||||
Other operating expense (income), net, excluding depreciation and amortization and other miscellaneous expenses (non-cash item) | 65.4 | 89.6 | ||||||||||||
Finance expense (income), net, excluding interest income and expense, net | (24.0) | 27.8 | ||||||||||||
Share of loss on investments accounted for under the equity method | 1.4 | (1.6) | ||||||||||||
Other adjustments: | 55.5 | 32.5 | ||||||||||||
Non-core expense related to COVID-19 | 5.6 | — | ||||||||||||
Impact on profit related to fair value step up of inventory in Shire acquisition | 21.9 | — | ||||||||||||
Other costs*1 | 28.0 | 32.5 | ||||||||||||
Adjusted EBITDA | 737.9 | 722.2 | (15.6) | (2.1) | % | |||||||||
*1 Includes adjustments for non-cash equity-based compensation expense and other one time non-cash expense. | ||||||||||||||
FY2023 H1 Net Profit to Adjusted EBITDA LTM Bridge | ||||||||||||||||||||
(Billion JPY) | FY2022 Full Year (Apr - Mar) | FY2022 H1 (Apr - Sep) | FY2023 H1 (Apr - Sep) | FY2023 H1 LTM*1 (Oct - Sep) | ||||||||||||||||
Net profit | 317.0 | 166.8 | 41.4 | 191.7 | ||||||||||||||||
Income tax expenses | 58.1 | 53.3 | (2.4) | 2.4 | ||||||||||||||||
Depreciation and amortization | 664.4 | 326.1 | 354.2 | 692.5 | ||||||||||||||||
Interest expense, net | 111.5 | 57.5 | 54.0 | 107.9 | ||||||||||||||||
EBITDA | 1,151.0 | 603.7 | 447.2 | 994.5 | ||||||||||||||||
Impairment losses | 64.4 | 36.0 | 126.7 | 155.1 | ||||||||||||||||
Other operating expense (income), net, excluding depreciation and amortization and other miscellaneous expenses (non-cash item) | 109.0 | 65.4 | 89.6 | 133.3 | ||||||||||||||||
Finance expense (income), net, excluding interest income and expense, net | (4.7) | (24.0) | 27.8 | 47.1 | ||||||||||||||||
Share of loss on investments accounted for under the equity method | 8.6 | 1.4 | (1.6) | 5.7 | ||||||||||||||||
Other adjustments: | 93.5 | 55.5 | 32.5 | 70.5 | ||||||||||||||||
Non-core expense related to COVID-19 | 9.9 | 5.6 | — | 4.3 | ||||||||||||||||
Impact on profit related to fair value step up of inventory in Shire acquisition | 24.9 | 21.9 | — | 3.0 | ||||||||||||||||
Other costs*2 | 58.7 | 28.0 | 32.5 | 63.1 | ||||||||||||||||
Adjusted EBITDA | 1,421.8 | 737.9 | 722.2 | 1,406.2 | ||||||||||||||||
*1 LTM represents Last Twelve Months (October 2022 - September 2023). Calculated by subtracting FY2022 H1 from FY2022 Full Year and adding FY2023 H1. | ||||||||||||||||||||
*2 Includes adjustments for non-cash equity-based compensation expense and other one time non-cash expense. | ||||||||||||||||||||
FY2023 H1 CAPEX, Depreciation and Amortization and Impairment Losses |
(Billion JPY) | FY2022 H1 | FY2023 H1 | vs. PY | FY2023 Revised Forecast (October 26, 2023) | ||||||||||||||||
Capital expenditures*1 | 139.0 | 339.3 | 200.3 | 144.1% | 480.0 - 530.0*3 | |||||||||||||||
Tangible assets | 71.4 | 83.8 | 12.4 | 17.3% | ||||||||||||||||
Intangible assets | 67.6 | 255.5 | 187.9 | 278.1% | ||||||||||||||||
Depreciation and amortization | 326.1 | 354.2 | 28.1 | 8.6% | 680.0 | |||||||||||||||
Depreciation of tangible assets*2 (A) | 73.4 | 84.8 | 11.4 | 15.5% | ||||||||||||||||
Amortization of intangible assets (B) | 252.7 | 269.4 | 16.7 | 6.6% | ||||||||||||||||
Of which Amortization associated with products (C) | 240.8 | 253.9 | 13.1 | 5.4% | 500.0 | |||||||||||||||
Of which Amortization excluding intangible assets associated with products (D) | 11.9 | 15.5 | 3.6 | 30.2% | ||||||||||||||||
Depreciation and amortization (excluding intangible assets associated with products) (A)+(D) | 85.3 | 100.3 | 15.0 | 17.6% | 180.0 | |||||||||||||||
Impairment losses | 36.0 | 126.7 | 90.8 | 252.4% | ||||||||||||||||
Impairment losses associated with products | 32.8 | 115.8 | 82.9 | 252.5% | 120.0 | |||||||||||||||
Amortization and impairment losses on intangible assets associated with products | 273.6 | 369.7 | 96.0 | 35.1% | 620.0 | |||||||||||||||
*1 Cash flow base | ||||||||||||||||||||
*2 Including depreciation of investment properties | ||||||||||||||||||||
*3 FY2023 Revised Forecast reflects expenditures related to the acquisition of TAK-279 from Nimbus (JPY 134.1 billion) and in-licensing of fruquintinib from HUTCHMED (JPY 55.1 billion). |
FY2023 Full Year Detailed Forecast |
(BN JPY) | FY2023 Original Forecast (May 11, 2023) | FY2023 Revised Forecast (October 26, 2023) | vs. Original Forecast | Reason for Variances | |||||||||||||||||||
REPORTED | Revenue | 3,840.0 | 3,980.0 | 140.0 | 3.6 | % | Predominantly due to change in FX rate assumptions | ||||||||||||||||
R&D expenses | (643.0) | (680.0) | (37.0) | (5.8) | % | Updated for FX | |||||||||||||||||
Amortization of intangible assets associated with products | (480.0) | (500.0) | (20.0) | (4.2) | % | Updated for FX | |||||||||||||||||
Impairment losses on intangible assets associated with products | (50.0) | (120.0) | (70.0) | (140.0) | % | Revised to reflect impairment losses already booked in H1 (e.g. ALOFISEL, EXKIVITY) | |||||||||||||||||
Other operating income | 14.0 | 14.0 | — | — | % | ||||||||||||||||||
Other operating expenses | (150.0) | (180.0) | (30.0) | (20.0) | % | Revised to include provisions booked in H1 that were not in the original forecast | |||||||||||||||||
Operating profit | 349.0 | 225.0 | (124.0) | (35.5) | % | Predominantly due to impairment and provisions listed above; also updated for FX | |||||||||||||||||
Finance income (expenses), net | (165.0) | (157.0) | 8.0 | 4.8 | % | ||||||||||||||||||
Profit before tax | 185.0 | 70.0 | (115.0) | (62.2) | % | Reflects items impacting Reported Operating Profit | |||||||||||||||||
Net profit attributable to owners of the Company | 142.0 | 93.0 | (49.0) | (34.5) | % | Updated tax rate assumption, reflects JPY 63.5B tax expense reduction booked in H1 | |||||||||||||||||
Basic EPS (JPY) | 91 | 59 | (31) | (34.5) | % | ||||||||||||||||||
Core Revenue*1 | 3,840.0 | 3,980.0 | 140.0 | 3.6 | % | Predominantly due to change in FX rate assumptions | |||||||||||||||||
Core Operating Profit*1 | 1,015.0 | 1,015.0 | — | — | % | ||||||||||||||||||
Core EPS (JPY) | 434 | 447 | 13 | 3.1 | % | Updated core tax rate assumption | |||||||||||||||||
Free cash flow | 400.0 to 500.0 | 400.0 to 500.0 | FY2023 Revised Forecast reflects expenditures related to the acquisition of TAK-279 from Nimbus (JPY 134.1 BN) and in-licensing of fruquintinib from HUTCHMED (JPY 55.1 BN) | ||||||||||||||||||||
CAPEX (cash flow base) | (480.0) to (530.0) | (480.0) to (530.0) | |||||||||||||||||||||
Depreciation and amortization (excl. intangible assets associated with products) | (170.0) | (180.0) | (10.0) | (5.9) | % | Updated for FX | |||||||||||||||||
Cash tax rate on adjusted EBITDA (excl. divestitures) | Mid-to-high teen % | Mid-to-high teen % | |||||||||||||||||||||
USD/JPY | 131 | 137 | 6 | 4.6 | % | ||||||||||||||||||
EUR/JPY | 141 | 145 | 4 | 2.8 | % |
FY2023 Full Year Reconciliation from Reported Operating Profit to Core Operating Profit Forecast |
(Billion JPY) | REPORTED | REPORTED TO CORE ADJUSTMENTS | CORE | |||||||||||||||||
Amortization of intangible assets | Impairment of intangible assets | Other operating income (expenses) | Others | |||||||||||||||||
Revenue | 3,980.0 | 3,980.0 | ||||||||||||||||||
Cost of sales | ||||||||||||||||||||
Gross Profit | ||||||||||||||||||||
SG&A and R&D expenses | 4.0 | |||||||||||||||||||
Amortization of intangible assets associated with products | (500.0) | 500.0 | — | |||||||||||||||||
Impairment losses on intangible assets associated with products | (120.0) | 120.0 | — | |||||||||||||||||
Other operating income | 14.0 | (14.0) | — | |||||||||||||||||
Other operating expenses | (180.0) | 180.0 | — | |||||||||||||||||
Operating profit | 225.0 | 500.0 | 120.0 | 166.0 | 4.0 | 1,015.0 |
FY2023 Full Year FX Rates Assumptions and Currency Sensitivity |
Average Exchange Rates vs. JPY | Impact of depreciation of yen from October 2023 to March 2024 (100 million JPY) | |||||||||||||||||||||||||
FY2022 H1 Actual (Apr-Sep) | FY2023 H1 Actual (Apr-Sep) | FY2023 Assumption (Apr-Mar) | Revenue (IFRS) | Operating Profit (IFRS) | Net Profit (IFRS) | Core Operating Profit (non-IFRS) | ||||||||||||||||||||
USD | 131 | 140 | 137 | 1% depreciation | 95.2 | 3.5 | (0.5) | 24.8 | ||||||||||||||||||
1 yen depreciation | 69.5 | 2.6 | (0.4) | 18.1 | ||||||||||||||||||||||
EUR | 138 | 153 | 145 | 1% depreciation | 27.4 | (18.8) | (15.3) | (14.3) | ||||||||||||||||||
1 yen depreciation | 18.9 | (12.9) | (10.5) | (9.9) | ||||||||||||||||||||||
RUB | 2.1 | 1.6 | 1.6 | 1% depreciation | 2.1 | 1.1 | 0.9 | 1.3 | ||||||||||||||||||
CNY | 19.7 | 19.8 | 19.8 | 9.9 | 5.8 | 4.4 | 5.8 | |||||||||||||||||||
BRL | 26.3 | 28.5 | 28.5 | 5.4 | 3.3 | 2.5 | 3.3 |
[9T'F!S%T89-#A(2"%!.2&1$%A)18()(%CGG8*(Q&)/Q3P:#!<)$&P,B
MR"2;:(*Q33!@ R8;BPP7=#F?+M_I0O_?5]-S-[L[N]SI)'0Z?>_SU+-WNSNS
M,]/5U=75U=T_$D(((8000@@AA!!"""&$$$(((8000@@AA!!"""&$$$(((800
M0@@AA!!"""&$$$(((8000@@AA!!"""&$$$(((8000@@AA!!"""&$$$(((800
M0@@AA!!"""&$$$(((8000@@AA!!"""&$$$(((<2R@'-N,&1"1T?'%,A^D!,A
MY^&]J_%Z"^0>R!S($Y!G(,]&Y"G(XY '(7?AF)OP>CGD;,B1^']/O&X)&8V_
M5_<_*83HJZ"B#D:%W1QR,.02R'V05R!?0,HAK?C.8@/G;X040CZ!/ ^Y#7(6
M/J(QF8C7E?VE"B%^*%#Y!D&F0LZ$W MY!U)JM;8/@FMKA>1 _@:Y&7(49!-\
MM)*_)2'$H@ 5:VW(=,@U$'H+)4$U7#1TM+6YCJ8FUUY?[]IK:B"U75(+:6AT
M'2TMSK6W^R-Z#^Z!9$&>A/P",@5OK^IO60C1'5!IED?EV09R$82M<875L!Y
M ]!65NY:OOC2-;[QIJO[TY-N_IV_OWLR7\]CO_
M:1>