Worth reading
83Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-8.6
% (year-on-year change in consolidated net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFirst quarter of the fiscal year ending May 20279 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥11,894 million-8.6%
Operating profit¥712 million-28.7%
Ordinary income¥808 million-23.2%
Net income¥700 million+0.6%
Results for the three months of the current quarterNet sales: ¥11,894 million; EBITDA: ¥1,687 million; operating profit: ¥712 million; ordinary profit: ¥808 million; net income attributable to owners of the parent: ¥700 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Above budget and progressing smoothly against the budgetBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Changes in net sales, product mix, etc.¥-291 million
- Foreign exchange impact¥-80 million
- Depreciation¥67 million
- Impact of inventory valuation and other factors¥-172 million
- Personnel expenses¥-79 million
- Research and development costs¥134 million
- Utilities expenses¥-3 million
- Other expenses, etc.¥138 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Foreign exchange160.1 Yen/Dollar
New initiatives
- Establishment of a jointly invested company and acquisition of shares to take over Kyorin Pharmaceutical’s generic drug business
- Designation of NPC-29 as a pioneering drug
- Repurchase of up to 1.25 million treasury shares, for a total purchase price of up to ¥2 billion, followed by cancellation of the shares acquired
Key KPIsA metric the company considers important as a management benchmark.
- EBITDA¥1,687 millionYear on year against the same period last year-17.3%
- EPS¥24.66Year on year against the same period last year+6.1%
- Operating cash flow¥2,828 millionYear on year against the same period last year+64.5%
- Free cash flow¥2,730 millionYear on year against the same period last yearDouble
Segment results
APIs
Net Sales¥5,367 million
Year on year against the same period last year-10.8%
Drug products
Net Sales¥6,496 million
Year on year against the same period last year-6.4%
Health Foods
Net Sales¥30 million
Year on year against the same period last year-38.9%
Number of employees
Employees included among the assets to be transferred from Kyorin Pharmaceutical: approximately 130 at the head office, approximately 170 at the Inami Plant, approximately 40 at the Takaoka Plant and approximately 40 at the Drug Discovery Research Center, all as of March 2026Capital expenditures
¥278 million
Acquisition of treasury shares
¥2 billion (maximum)
Number of Shares1.25 million shares
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | First quarter of the fiscal year ending May 2027 |
| Net Sales | ¥11,894 million (YoY -8.6%) |
| Operating profit | ¥712 million (YoY -28.7%) |
| Ordinary income | ¥808 million (YoY -23.2%) |
| Net income | ¥700 million (YoY +0.6%) |
| Results for the three months of the current quarter | Net sales: ¥11,894 million; EBITDA: ¥1,687 million; operating profit: ¥712 million; ordinary profit: ¥808 million; net income attributable to owners of the parent: ¥700 million |
| Self-assessment against the plan | Above budget and progressing smoothly against the budget |
| Segment results | APIs Net Sales ¥5,367 million / yoy_pct ¥-10.8 million / Profit Not disclosed / Drug products Net Sales ¥6,496 million / yoy_pct ¥-6.4 million / Profit Not disclosed / Health Foods Net Sales ¥30 million / yoy_pct ¥-38.9 million / Profit Not disclosed |
| Breakdown of Factors Affecting the Change | Factors Changes in net sales, product mix, etc. / Amount ¥-291 million, Factors Foreign exchange impact / Amount ¥-80 million, Factors Depreciation / Amount ¥67 million, Factors Impact of inventory valuation and other factors / Amount ¥-172 million, Factors Personnel expenses / Amount ¥-79 million, Factors Research and development costs / Amount ¥134 million, Factors Utilities expenses / Amount ¥-3 million, Factors Other expenses, etc. / Amount ¥138 million |
| Key KPIs | Indicator name EBITDA / Value ¥1,687 million / Year on year against the same period last year ¥-17.3 million, Indicator name EPS / Value ¥24.66 / Year on year against the same period last year ¥6.1, Indicator name Operating cash flow / Value ¥2,828 million / Year on year against the same period last year ¥64.5 million, Indicator name Free cash flow / Value ¥2,730 million / Year on year against the same period last year Double |
| Number of employees | Employees included among the assets to be transferred from Kyorin Pharmaceutical: approximately 130 at the head office, approximately 170 at the Inami Plant, approximately 40 at the Takaoka Plant and approximately 40 at the Drug Discovery Research Center, all as of March 2026 |
| Assumptions Underlying the Business Outlook | Item Foreign exchange / Value 160.1 Yen/Dollar |
| Acquisition of treasury shares | Amount ¥2 billion (maximum) / Number of Shares 1.25 million shares / Period Not disclosed |
| Capital expenditures | ¥278 million |
| New initiatives | Establishment of a jointly invested company and acquisition of shares to take over Kyorin Pharmaceutical’s generic drug business, Designation of NPC-29 as a pioneering drug, Repurchase of up to 1.25 million treasury shares, for a total purchase price of up to ¥2 billion, followed by cancellation of the shares acquired |
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesFull-year earnings forecastProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioOrders 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.Revenue declined due to inventory adjustments by some customers, shifts in shipping and order timing, product discontinuations, tighter OTC regulations and the decline in inbound demand. In addition to lower revenue, operating profit was affected by an increase in inventory write-downs and higher raw material costs resulting from the weaker yen. Net income increased, supported by factors including the sale of some cross-held shares.
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