Five-Year Business Highlights

FY2023 Overview

During the consolidated fiscal year under review, the outlook for the global economy remains uncertain, with growing risks of an economic downturn due to monetary tightening in various countries and heightened geopolitical risks, including the situations in Ukraine and the Middle East. As for the Japanese economy, while there have been improvements in the employment and income environment and in inbound consumption, the outlook remains uncertain due to rising prices of energy resources and raw materials and rising commodity prices due to the weak yen. The Japanese pharmaceutical industry, to which the Nippon Shinyaku Group belongs, is still in a difficult business environment, with various government measures aimed at controlling medical expenses, such as promoting the use of generic drugs and revising drug prices every year. 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 2024 was 148,255 million yen, an increase of 2.8% 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 said product, and growth in sales of Viltepso, a treatment for Duchenne muscular dystrophy (DMD). Operating income was 33,295 million yen, an increase of 10.8% year on year, and profit before tax was 33,616 million yen, an increase of 10.3% year on year. Net income attributable to owners of the parent was 25,851 million yen, an increase of 13.3% year on year. The factors behind the results include an increase in sales revenue and a decrease in the ratio of cost to sales caused by an improvement in the sales mix