Materials for the Briefing on Financial Results for the First Quarter of the Fiscal Year Ending March 2027 | Astellas Pharma Inc. (4503) timely disclosure

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Improvement

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Scale

1351

¥100 million

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Conditional

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Contents of this document

Earnings presentationFirst quarter of the fiscal year ending March 20279 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥6,409 100 million+26.7%

Operating profit¥1,845 100 million+94.9%

Ordinary income¥1,865 100 million+106.3%

Net income¥1,418 100 million+107.2%

Operating profit margin28.8 %

Selling, general and administrative expenses¥2,151 100 million

Results for the three months of the current quarterFor the first quarter of fiscal 2026, revenue of ¥640.9 billion, operating profit of ¥184.5 billion, profit before tax of ¥186.5 billion and quarterly profit of ¥141.8 billion were reported

Full-year earnings forecast

Revenue

¥22,200 100 million

Cost of sales

¥4,450 100 million

Selling, general and administrative expenses

¥8,000 100 million

Research and development costs

¥3,550 100 million

Core operating profit

¥6,200 100 million

Operating profit

¥3,950 100 million

Income before taxes

¥3,850 100 million

Net income

¥3,000 100 million

What the company explained in this material

Self-assessment against the planThe company's self-assessment against its own plan.

Progress toward the full-year forecast is in line with expectations

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Impact of foreign exchange movements on revenue¥600 100 million
Impact of foreign exchange movements on core operating profit¥255 100 million
SMT-driven cost reductions (total of selling, general and administrative expenses, research and development expenses and cost of sales)¥80 100 million
SMT-driven optimization of selling, general and administrative expenses¥30 100 million
Increase in pipeline development costs¥40 100 million
Increase in development costs for key strategic products’ LCM¥20 100 million
SMT-driven optimization of research and development expenses¥30 100 million

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

Assumed average exchange rates for fiscal 2026

Dollar¥150

Euro¥180

Foreign exchange sensitivity

¥1 depreciation against the dollarApproximately ¥8.1 billion increase in revenue and approximately ¥2.3 billion increase in core operating profit

¥1 depreciation against the euroApproximately ¥3.8 billion increase in revenue and approximately ¥1.7 billion increase in core operating profit

New initiatives

Launch of the Phase III EV-309 trial of PADCEV in bladder-sparing therapy
Initiation of enrollment in the Phase III trial of setidegrasib for non-small cell lung cancer
Initiation of enrollment in the Phase III trial of ASP2138 for gastric and gastroesophageal junction adenocarcinoma
Expansion of the Primary Focus from targeted protein degradation to induced proximity
Cost optimization through the use of AI and digital technologies and the launch of global capability centers

Key KPIsA metric the company considers important as a management benchmark.

Revenue from key strategic products¥1,603 100 million
Year on year against the same period last year+43%
PADCEV revenue¥755 100 million
Year on year against the same period last year+36%
IZERVAY revenue¥272 100 million
Year on year against the same period last year+70%
VYLOY revenue¥211 100 million
Year on year against the same period last year+51%
VEOZAH revenue¥149 100 million
Year on year against the same period last year+55%
XOSPATA revenue¥216 100 million
Year on year against the same period last year+27%
Revenue from products other than key strategic products¥2,766 100 million
Year on year against the same period last year+19%

Medium-term management plan targets

Recurring cost optimization

Target value¥2,000 100 million

Target fiscal yearFY2026–FY2030

Fiscal 2027 cost optimization

Target value¥450 100 million

Fiscal 2026 cost optimization

Target value¥400 100 million

Financial targets

Gross Debt/EBITDA

Target value1.0–1.5x

Annual Dividend

Annual dividend per share¥80 (fiscal 2026 forecast)

Acquisition of treasury shares

The company will flexibly conduct share repurchases when surplus funds arise. The amount, number of shares and period covered by the repurchase authorization have not been disclosed

Contents of this document
Item	Details
Document type	Earnings presentation
Fiscal Period Covered	First quarter of the fiscal year ending March 2027
Net Sales	¥6,409 100 million (YoY +26.7%)
Operating profit	¥1,845 100 million (YoY +94.9%)
Ordinary income	¥1,865 100 million (YoY +106.3%)
Net income	¥1,418 100 million (YoY +107.2%)
Operating profit margin	28.8 %
Selling, general and administrative expenses	¥2,151 100 million
Results for the three months of the current quarter	For the first quarter of fiscal 2026, revenue of ¥640.9 billion, operating profit of ¥184.5 billion, profit before tax of ¥186.5 billion and quarterly profit of ¥141.8 billion were reported
Full-year earnings forecast	Revenue ¥22,200 100 million / Cost of sales ¥4,450 100 million / Selling, general and administrative expenses ¥8,000 100 million / Research and development costs ¥3,550 100 million / Core operating profit ¥6,200 100 million / Operating profit ¥3,950 100 million / Income before taxes ¥3,850 100 million / Net income ¥3,000 100 million
Self-assessment against the plan	Progress toward the full-year forecast is in line with expectations
Breakdown of Factors Affecting the Change	Factors Impact of foreign exchange movements on revenue / Amount ¥600 100 million, Factors Impact of foreign exchange movements on core operating profit / Amount ¥255 100 million, Factors SMT-driven cost reductions (total of selling, general and administrative expenses, research and development expenses and cost of sales) / Amount ¥80 100 million, Factors SMT-driven optimization of selling, general and administrative expenses / Amount ¥30 100 million, Factors Increase in pipeline development costs / Amount ¥40 100 million, Factors Increase in development costs for key strategic products’ LCM / Amount ¥20 100 million, Factors SMT-driven optimization of research and development expenses / Amount ¥30 100 million
Key KPIs	Indicator name Revenue from key strategic products / Value ¥1,603 100 million / Year on year against the same period last year +43%, Indicator name PADCEV revenue / Value ¥755 100 million / Year on year against the same period last year +36%, Indicator name IZERVAY revenue / Value ¥272 100 million / Year on year against the same period last year +70%, Indicator name VYLOY revenue / Value ¥211 100 million / Year on year against the same period last year +51%, Indicator name VEOZAH revenue / Value ¥149 100 million / Year on year against the same period last year +55%, Indicator name XOSPATA revenue / Value ¥216 100 million / Year on year against the same period last year +27%, Indicator name Revenue from products other than key strategic products / Value ¥2,766 100 million / Year on year against the same period last year +19%
Assumptions Underlying the Business Outlook	Assumed average exchange rates for fiscal 2026 Dollar ¥150 / Euro ¥180 / Foreign exchange sensitivity ¥1 depreciation against the dollar Approximately ¥8.1 billion increase in revenue and approximately ¥2.3 billion increase in core operating profit / ¥1 depreciation against the euro Approximately ¥3.8 billion increase in revenue and approximately ¥1.7 billion increase in core operating profit
Medium-term management plan targets	Recurring cost optimization Target value ¥2,000 100 million / Target fiscal year FY2026–FY2030 / Fiscal 2027 cost optimization Target value ¥450 100 million / Fiscal 2026 cost optimization Target value ¥400 100 million
Financial targets	Gross Debt/EBITDA Target value 1.0–1.5x / Actual value Not disclosed
Annual Dividend	Annual dividend per share ¥80 (fiscal 2026 forecast) / Interim and Year-End Breakdown Not disclosed
Acquisition of treasury shares	The company will flexibly conduct share repurchases when surplus funds arise. The amount, number of shares and period covered by the repurchase authorization have not been disclosed
New initiatives	Launch of the Phase III EV-309 trial of PADCEV in bladder-sparing therapy, Initiation of enrollment in the Phase III trial of setidegrasib for non-small cell lung cancer, Initiation of enrollment in the Phase III trial of ASP2138 for gastric and gastroesophageal junction adenocarcinoma, Expansion of the Primary Focus from targeted protein degradation to induced proximity, Cost optimization through the use of AI and digital technologies and the launch of global capability centers

Items this document does not state (12)

Gross Profit MarginProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

Strong growth in key strategic products and cost optimization contributed to performance, while favorable foreign exchange movements also provided a boost. Cost optimization through SMT is being advanced in selling, general and administrative expenses, research and development expenses and cost of sales.

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