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    4519   JP3519400000

CHUGAI PHARMACEUTICAL CO., LTD.

(4519)
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Chugai Pharmaceutical : CONSOLIDATED FINANCIAL STATEMENTS (IFRS)(Non-Audited)(for the second quarter of the fiscal year 2021)

07/26/2021 | 03:08am EDT

NOTICE: For the convenience of capital market participants, Chugai makes efforts to provide English translations of the information disclosed in Japanese, provided that the Japanese original prevails over its English translation in the case of any discrepancy found between documentation.

CONSOLIDATED FINANCIAL STATEMENTS (IFRS) (Non-Audited)

(for the second quarter of the fiscal year 2021)

Name of Company:

Chugai Pharmaceutical Co., Ltd.

July 26, 2021

Stock Listing:

Tokyo Stock Exchange

Security Code No.:

4519 (URL https://www.chugai-pharm.co.jp/english)

Representative:

Osamu Okuda, President & CEO

Contact:

Toshiya Sasai, Head of Corporate Communications Department

Phone:

+81-(0)3-3273-0554

Date of Submission of Quarterly Marketable Securities Filings: July 29, 2021

Date on which Dividend Payments to Commence: August 30, 2021

Supplementary Materials Prepared for the Quarterly Financial Statements: Yes

Presentation Held to Explain the Quarterly Financial Statements: Yes (for institutional investors, securities analysts and the media)

(Note: Amounts of less than one million yen are rounded.)

1. Consolidated results for the second quarter of FY 2021 (January 1, 2021-June 30, 2021)

(1) Consolidated operating results

Revenues

% change

Operating profit

% change

Net income

% change

First six months of FY 2021

¥390,229 million

6.0

¥160,679 million

14.3

¥118,137 million

15.5

First six months of FY 2020

¥368,120 million

14.9

¥140,629 million

47.9

¥102,293 million

47.7

Net income

Total

attributable to

% change comprehensive % change

Chugai

income

shareholders

First six months of FY 2021

¥118,137 million

15.5

¥120,997 million

18.8

First six months of FY 2020

¥102,293 million

47.7

¥101,835 million

50.7

Earnings per share

Earnings per share

(Basic)

(Diluted)

First six months of FY 2021

¥71.86

¥71.81

First six months of FY 2020

¥62.26

¥62.18

Notes: 1. Percentages represent changes compared with the same period of the previous fiscal year.

  1. 2. Effective July 1, 2020, Chugai Pharmaceutical Co., Ltd. ("Chugai") implemented a three-for-one stock split of its common stock. "Earnings per share (Basic)" and "Earnings per share (Diluted)" are calculated based on the assumption that the stock split was implemented at the beginning of the previous fiscal year.

  2. Consolidated results (balance sheet)

Equity attributable

Ratio of equity

Total assets

Total equity

to Chugai

attributable to

shareholders

Chugai shareholders

As of Jun. 30, 2021

¥1,275,767 million

¥1,052,058 million

¥1,052,058 million

82.5%

As of Dec. 31, 2020

¥1,235,498 million

¥980,003 million

¥980,003 million

79.3%

Core earnings
per share
Revenues ¥390,229 million ¥800,000 million

2. Dividends

Annual dividends per share

End of first

End of second

End of third

End of fiscal year

Total

quarter

quarter

quarter

FY ended Dec. 2020

¥75.00

¥30.00

FY ending Dec. 2021

¥30.00

FY ending Dec. 2021

¥30.00

¥60.00

(Forecast)

Notes: 1. Whether the most recent dividend forecast has been revised: No

2. Effective July 1, 2020, Chugai implemented a three-for-one stock split of its common stock. The dividend for the second quarter of the fiscal year 2020 presents the amount prior to the stock split. The annual dividends per share for the fiscal year ended December 31, 2020 is not stated because the amounts cannot be simply combined due to the implementation of the stock split. The annual dividend per share is ¥165 when calculated based on the assumption of no stock split, and ¥55 when calculated with the stock split taken into account.

3. Consolidated forecasts for FY 2021 (January 1, 2021-December 31, 2021)

First six months of FY 2021 (Results)

FY ending Dec. 2021 (Forecast)

% change

Core operating

% change

Core net income

% change

profit

+48.8

¥165,817 million

+51.8

¥121,733 million

+52.5

+1.7

¥320,000 million

+3.9

¥232,000 million

+5.7

Core dividend

payout ratio %

First six months of FY

¥73.99

+52.5

2021 (Results)

FY ending Dec. 2021

¥141.00

+5.7

42.6

(Forecast)

Notes: 1. Percentages shown for forecasts of revenues, Core operating profit, Core net income and Core EPS represent changes compared with the same period of the previous fiscal year. Percentages for results represent the percentage of forecast levels that have been achieved to date.

  1. Whether the most recent forecasts for consolidated figures have been revised: No
  2. The figures for the consolidated forecasts and actuals are calculated based on Core basis indicators established by Chugai and used on a consistent basis. Core EPS is diluted earnings per share attributable to Chugai shareholders on a Core basis.

4. Others

  1. Changes in the state of material subsidiaries during the period (Changes in the state of specific subsidiaries with change in scope of consolidation): None
  2. Changes in accounting policies and changes in accounting estimates
    1. Changes in accounting policies required by IFRS: None
    2. Changes in accounting policies other than those in (a) above: None
    3. Changes in accounting estimates: None
  1. Number of shares issued (common stock):
    1. Number of shares issued at the end of the period (including treasury stock)
    2. Number of treasury stock at the end of the period
    3. Average number of shares issued during the period (six months)

As of Jun. 30, 2021

As of Jun. 30, 2021

First six months of FY 2021

1,679,057,667

34,848,947

1,644,048,643

As of Dec. 31, 2020

As of Dec. 31, 2020

First six months of FY 2020

1,679,057,667

35,186,586

1,643,072,220

Note: Effective July 1, 2020, Chugai implemented a three-for-one stock split of its common stock. The number of shares issued (common stock) is calculated based on the assumption that the stock split was implemented at the beginning of the previous fiscal year.

Notes:

The quarterly financial statements are not subject to quarterly reviews.

Explanation of the appropriate use of performance forecasts and other related items

  1. Portions of this report that refer to performance forecasts or any other future events are believed to be reasonable under information available at the time of the forecasts. Actual results may differ from these forecasts due to potential risks and uncertainties.
  2. The forecast which is published for shareholders and investors is based on the internal management indicator Core basis under International Financial Reporting Standards ("IFRS"). The difference between IFRS results and Core results will be explained at each event and presentation.
  3. For the specifics of the forecasts, please refer to "Consolidated Forecasts and Other forward-looking Statements" on page 6 of the attached document.
  4. Chugai is scheduled to hold a tele-conference as noted below. The presentation materials, the verbal recording, the Q&A, and other related documents will be posted on the Chugai's website following the conclusion of the conference.
    Tele-conference for institutional investors, securities analysts and the media (Japanese only): July 26, 2021, Monday (Japan time). The English translation of the presentation materials will be posted on the website on the next business day.

Index of the Attachment

1. Qualitative Information .................................................................................................................................................

2

(1)

Consolidated operating results ...................................................................................................................................

2

(2)

Consolidated financial position ..................................................................................................................................

5

(3)

Consolidated forecasts and other forward-looking statements ................................................................................

6

2. Interim Condensed Consolidated Financial Statements and Major Notes ..............................................................

7

(1)

Interim condensed consolidated income statement and interim condensed consolidated statement of

comprehensive income ................................................................................................................................................

7

(2)

Interim condensed consolidated balance sheet ...........................................................................................................

9

(3)

Interim condensed consolidated statement of cash flows ...........................................................................................

10

(4)

Interim condensed consolidated statement of changes in equity ................................................................................

11

(5)

Notes regarding the going concern assumption ..........................................................................................................

12

(6)

Notes regarding the interim condensed consolidated financial statements ................................................................

12

- 1 -

Chugai Pharmaceutical Co., Ltd. (4519) CONSOLIDATED FINANCIAL STATEMENTS (2nd quarter of FY 2021)

1. Qualitative Information

(1) Consolidated operating results in billions of yen

First six months of

First six months of

% change

FY 2021.12

FY 2020.12

(Jan. 1, 2021-Jun. 30, 2021)

(Jan. 1, 2020- Jun. 30, 2020)

Core results

Revenues

390.2

368.1

+6.0

Sales

304.1

305.7

(0.5)

Royalties and other operating

86.1

62.5

+37.8

income

Cost of sales

(121.9)

(131.2)

(7.1)

Gross profit

268.4

236.9

+13.3

Marketing and distribution

(34.0)

(32.3)

+5.3

Research and development

(59.9)

(52.9)

+13.2

General and administration

(8.7)

(8.0)

+8.8

Operating profit

165.8

143.7

+15.4

Net income

121.7

104.5

+16.5

IFRS results

Revenues

390.2

368.1

+6.0

Operating profit

160.7

140.6

+14.3

Net income

118.1

102.3

+15.4

Consolidated financial highlights (IFRS results)

Revenues for the six months under review were ¥390.2 billion (an increase of 6.0% year on year), operating profit for the six months under review was ¥160.7 billion (an increase of 14.3% year on year), and net income for the six months under review was ¥118.1 billion (an increase of 15.4% year on year). These results include non-Core items, such as amortization of intangible assets of ¥1.5 billion, impairment loss of intangible assets of ¥1.6 billion, and restructuring expenses etc. of ¥2.0 billion, which are excluded from the Core results that Chugai adopts to manage recurring business activities.

Consolidated financial highlights (Core results)

Revenues for the six months under review were ¥390.2 billion (an increase of 6.0% year on year), due to a significant increase in royalties and other operating income, even as both domestic and overseas sales remained comparable with the results for the same period of the previous fiscal year.

Of revenues, sales were ¥304.1 billion (a decrease of 0.5% year on year). Within domestic sales the sales of the mainstay products, Tecentriq, Kadcyla, and Hemlibra continued to increase steadily and the market penetration of a new product Enspryng progressed, while there was a decrease mainly due to the effects of the NHI drug price revisions and market penetration of generic drugs. Overseas sales remained comparable with the results for the same period of the previous fiscal year since the exports of Alecensa and Hemlibra to Roche increased while the export of Actemra decreased significantly. Royalties and other operating income amounted to ¥86.1 billion (an increase of 37.8% year on year), mainly due to an increase in royalties for Hemlibra and its profit-sharing income, despite a decrease in other operating income resulting from one-time income. Furthermore, cost to sales ratio was 40.1%, a 2.8 percentage point improvement year on year. As a result, gross profit amounted to ¥268.4 billion (an increase of 13.3% year on year).

Operating expenses were ¥102.5 billion (an increase of 10.0% year on year). Marketing and distribution expenses were ¥34.0 billion (an increase of 5.3% year on year). Research and development expenses amounted to ¥59.9 billion (an increase of 13.2% year on year) due to an increase in expenses associated with the progress of projects, etc. General and administration expenses amounted to ¥8.7 billion (an increase of 8.8% year on year). As a result, Core operating profit was ¥165.8 billion (an increase of 15.4% year on year) and Core net income was ¥121.7 billion (an increase of 16.5% year on year).

- 2 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Chugai Pharmaceutical Co. Ltd. published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 07:07:02 UTC.


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