- Five-Year Business Highlights
- Quarter Business Highlights
FY2022 Overview
During the fiscal year ended March 2023, the global economy was still dominated by lingering uncertainties about the future mainly due to policy interest rates raised to control inflation and heightened geopolitical risks resulting from the prolonged war in Ukraine, despite the gradual decrease in the impact of the COVID-19 pandemic and the consequent gradual economic recovery. Just as the global economy did, the Japanese economy also saw growing uncertainties about the future mainly due to the continued high prices of energy resources and raw materials caused by the ongoing war in Ukraine, despite signs of the normalization of social and economic activities in the wake of the relaxation of COVID-19 activity restrictions. The Japanese pharmaceutical industry, to which our corporate group belongs, is still in a difficult business environment, with various government measures promoted to encourage the use of generic pharmaceuticals and to control national medical expenditure, such as annual drug price revisions. Our Functional Food business has also faced a harsh situation caused mainly by sharp rises in transportation costs and raw material prices, despite strong demand for functional foods against a backdrop of heightened health awareness among the general public. Even in such a situation, the Nippon Shinyaku Group’s sales revenue for the fiscal year ended March 2023 was 144,175 million yen, an increase of 4.9% year on year. This increase can be explained by sales of Uptravi, a treatment for pulmonary arterial hypertension (PAH) and chronic thromboembolic pulmonary hypertension (CTEPH), the royalty income from overseas sales of the same product, and growth in sales of Viltepso, a treatment for Duchenne muscular dystrophy (DMD). For the same period, operating income was 30,049 million yen, a decrease of 8.8% year on year, and profit before tax was 30,489 million yen, a decrease of 8.4% year on year. Net profit attributable to owners of the parent was 22,812 million yen, a decrease of 8.7% year on year. The factors behind the results include a relative decrease from FY2022, when income from the sale of priority review vouchers was recorded.
Principal Financial Data
Fiscal year (millions of yen) |
2019/3 (JGAAP) | 2020/3 (JGAAP) | 2021/3 (JGAAP) | 2022/3 (JGAAP) | 2023/3 (IFRS) | 2024/3 (forecast) |
---|---|---|---|---|---|---|
Net sales / Sales revenue | 114,716 | 116,637 | 121,885 | 137,547 | 144,175 | 147,000 |
Pharmaceuticals | 100,223 | 101,643 | 106,478 | 120,650 | 121,988 | 125,000 |
Functional food | 14,492 | 14,994 | 15,406 | 16,897 | 22,187 | 22,000 |
Operating income | 20,644 | 21,668 | 26,134 | 28,299 | 30,049 | 33,500 |
Ordinary income | 21,540 | 22,442 | 26,760 | 29,773 | - | - |
Net income attributable to owners of the parent / Profit attributable to owners of the parent | 16,302 | 16,866 | 20,702 | 23,044 | 22,812 | 26,000 |
Depreciation and amortization | 3,418 | 3,468 | 3,550 | 2,933 | 5,041 | 5,400 |
Capital investment | 1,242 | 2,500 | 2,583 | 4,264 | 7,982 | 9,000 |
R&D expenses | 16,701 | 13,994 | 16,104 | 26,386 | 24,135 | 29,500 |
Total assets | 168,763 | 175,017 | 197,028 | 210,052 | 237,451 | |
Net assets/Total equity | 135,190 | 145,760 | 162,543 | 176,767 | 195,933 | |
Liabilities | 33,573 | 29,257 | 34,485 | 33,285 | 41,518 |
Net Sales
Sales revenue for the fiscal year ended March 2023 was 144,175 million yen, an increase of 4.9% year on year. This increase can be explained by sales of Uptravi, a treatment for pulmonary arterial hypertension (PAH) and chronic thromboembolic pulmonary hypertension (CTEPH), the royalty income from overseas sales of the same product, and growth in sales of Viltepso, a treatment for Duchenne muscular dystrophy (DMD).
Operating income
Net income attributable to owners of the parent
Operating income was 30,049 million yen, a decrease of 8.8% year on year, and profit before tax was 30,489 million yen, a decrease of 8.4% year on year. Net profit attributable to owners of the parent was 22,812 million yen, a decrease of 8.7% year on year. The factors behind the results include a relative decrease from FY2022, when income from the sale of priority review vouchers was recorded.
R&D expenses
Principal Financial Indicators
Fiscal year (yen) | 2019/3 (JGAAP) | 2020/3 (JGAAP) | 2021/3 (JGAAP) | 2022/3 (JGAAP) | 2023/3 (IFRS) | |
---|---|---|---|---|---|---|
Earnings per share (EPS) | 242.04 | 250.42 | 307.37 | 342.14 | 338.7 | |
Net assets per share | 2,003.39 | 2,160.11 | 2,409.01 | 2,620.02 | 2,904.49 | |
Dividend per share | 70 | 86 | 99 | 110 | 114 | |
Equity ratio | 80.0 | 83.1 | 82.4 | 84.0 | 82.4 | |
Return on equity (ROE) | 12.5 | 12.0 | 13.5 | 13.6 | 12.1 | |
Payout ratio | 28.9 | 34.3 | 32.2 | 32.2 | 33.7 |
EPS / ROE
- Earnings per share (EPS)
- Return on equity (ROE)
Dividend per share / Payout ratio
- Dividend per share
- Payout ratio
Cash Flows
Fiscal year (millions of yen) | 2019/3 (JGAAP) | 2020/3 (JGAAP) | 2021/3 (JGAAP) | 2022/3 (JGAAP) | 2023/3 (IFRS) | |
---|---|---|---|---|---|---|
Cash flow from operating activities | 15,310 | 12,737 | 21,388 | 16,018 | 26,170 | |
Cash flow from investing activities | 511 | △2,339 | △1,564 | △6,359 | △17,631 | |
Cash flow from financing activities | △3,708 | △5,660 | △6,199 | △6,801 | △9,605 |
Eleven-Year Financial Data
Eleven-Year financial data from here.