Supplementary Materials for

Consolidated Financial Results for

the 2nd Quarter of Fiscal Year 2022. 12 (IFRS)

Notes: 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 materially differ from these forecasts due to potential risks and uncertainties.

  1. Amounts shown in this report are rounded to the nearest 0.1 billion yen. Variance and % are calculated based on the amounts shown.
  2. Exchange rates used for each period are as follows.

QTR

(Yen)

Actual*

Actual*

FY2021

FY2022

1-3

4-6

7-9

10-12

1-3

4-6

7-9

10-12

QTR

QTR

QTR

QTR

QTR

QTR

QTR

QTR

CHF

117.08

120.11

119.88

123.26

125.78

134.34

EUR

127.65

131.87

129.78

130.02

130.43

138.07

USD

105.83

109.44

110.08

113.66

116.17

129.58

SGD

79.47

82.12

81.39

83.75

85.92

94.09

*Market average exchange rate

YTD

Actual*

Actual*

Actual*

Assumption

FY2020

FY2021

FY2022

FY2022

1-12

1-3

1-6

1-9

1-12

1-3

1-6

1-9

1-12

1-12

Full-year

YTD

YTD

YTD

Full-year

YTD

YTD

YTD

Full-year

Full-year

CHF

113.72

117.08

118.60

119.03

120.10

125.78

130.15

122.00

EUR

121.69

127.65

129.76

129.77

129.83

130.43

134.35

130.00

USD

106.80

105.83

107.63

108.45

109.75

116.17

122.87

112.00

SGD

77.41

79.47

80.80

81.00

81.69

85.92

90.04

84.00

*Market average exchange rate

Period-end

Actual

Actual

Actual

FY2020

FY2021

FY2022

31 Dec.

31 Mar.

30 Jun.

30 Sep.

31 Dec.

31 Mar.

30 Jun.

30 Sep.

31 Dec.

CHF

117.10

117.14

120.02

119.76

125.95

131.93

142.99

EUR

126.89

129.30

131.48

129.85

130.31

135.92

142.62

USD

103.19

110.37

110.52

111.97

115.07

121.82

136.60

SGD

77.98

81.87

82.15

82.27

85.09

90.07

98.01

Chugai Pharmaceutical Co., Ltd. (4519) Supplementary Materials for Consolidated Financial Results for the 2nd quarter of FY2022(IFRS)

1

Reconciliation of IFRS results to Core results

(Billions of yen)

FY2021

FY2022

1-6

1-6

IFRS results

Intangible

Others

Core results

IFRS results

Intangible

Others

Core results

assets

assets

Revenues

390.2

-

-

390.2

596.2

-

(91.9)

504.3

Sales

304.2

-

-

304.1

452.8

-

-

452.8

Royalties and other operating income

86.1

-

-

86.1

51.4

-

-

51.4

Other revenue

-

-

-

-

91.9

-

(91.9)

-

Cost of sales

(123.4)

1.5

-

(121.9)

(194.2)

0.6

-

(193.7)

Gross profit

266.8

1.5

-

268.4

401.9

0.6

(91.9)

310.6

Operatingexpenses

(106.2)

1.6

2.0

(102.5)

(115.0)

0.2

5.6

(109.2)

Marketing and distribution

(33.8)

-

(0.2)

(34.0)

(35.3)

-

0.2

(35.1)

Research and development

(63.3)

1.6

1.9

(59.9)

(67.7)

0.2

1.8

(65.8)

General and administration

(9.1)

-

0.4

(8.7)

(12.0)

-

3.7

(8.3)

Operating profit

160.7

3.1

2.0

165.8

286.9

0.7

(86.3)

201.4

Financing costs

(0.0)

-

-

(0.0)

(0.0)

-

-

(0.0)

Other financial income (expense)

0.6

-

-

0.6

2.4

-

-

2.4

Other expense

(0.0)

-

-

(0.0)

(2.4)

-

-

(2.4)

Profitbefore taxes

161.3

3.1

2.0

166.4

286.9

0.7

(86.3)

201.4

Income taxes

(43.1)

(0.9)

(0.6)

(44.7)

(82.8)

(0.2)

26.3

(56.7)

Net income

118.1

2.2

1.4

121.7

204.2

0.5

(59.9)

144.7

Attributable to

Chugai shareholders

118.1

2.2

1.4

121.7

204.2

0.5

(59.9)

144.7

Non-controlling interests

-

-

-

-

-

-

-

-

Core results

Chugai discloses its results on a Core basis from 2013 in conjunction with its transition to IFRS. Core results are the results after adjusting non-recurring items recognized by Chugai to IFRS results. Chugai's recognition of non-recurring items may differ from that of Roche due to the difference in the scale of operations, the scope of business and other factors. Core results are used by Chugai as an internal performance indicator, for explaining the status of recurring profits both internally and externally, and as the basis for payment-by-results.

The table above shows the reconciliation of IFRS results into Core results. The detail is as below.

Intangible assets

Amortization (1.5 billion yen in 2021 and 0.6 billion yen in 2022)

Impairment (1.6 billion yen in 2021 and 0.2 billion in 2022)

Others

Lump sum income related to settlement agreement etc.(None in 2021 and -90.7 billion yen in 2022) Restructuring expenses etc. (2.0 billion yen in 2021 and 4.5 billion yen in 2022)

Chugai Pharmaceutical Co., Ltd. (4519) Supplementary Materials for Consolidated Financial Results for the 2nd quarter of FY2022(IFRS)

2

IFRS results (QTR)

(Billions of yen)

Actual

Actual

FY2021

FY2022

1-3

4-6

7-9

10-12

1-3

Change

4-6

Change

7-9

Change

10-12

Change

QTR

QTR

QTR

QTR

QTR

(%)

QTR

(%)

QTR

(%)

QTR

(%)

Revenues

168.8

221.4

287.3

322.3

360.6

+113.6

235.6

+6.4

Sales

130.3

173.9

234.5

264.1

242.7

+86.3

210.1

+20.8

Domestic

94.9

108.5

159.2

156.3

161.7

+70.4

112.1

+3.3

Overseas

35.4

65.3

75.3

107.8

81.0

+128.8

98.0

+50.1

Royalties and other operating income

38.6

47.5

52.7

58.1

25.9

(32.9)

25.5

(46.3)

Royalty and profit-sharing income

36.6

46.7

52.1

51.8

25.2

(31.1)

25.2

(46.0)

Other operating income

2.0

0.8

0.6

6.4

0.7

(65.0)

0.3

(62.5)

Other revenue

-

-

-

-

91.9

-

-

-

Cost of sales

(55.3)

(68.1)

(104.2)

(110.6)

(114.4)

+106.9

(79.8)

+17.2

(% of Sales)

42.4

39.2

44.4

41.9

47.1

-

38.0

-

Gross profit

113.5

153.4

183.1

211.7

246.1

+116.8

155.8

+1.6

(% of Revenues)

67.2

69.3

63.7

65.7

68.2

-

66.1

-

Operating expenses

(49.5)

(56.6)

(60.9)

(72.6)

(59.1)

+19.4

(55.8)

(1.4)

(% of Revenues)

29.3

25.6

21.2

22.5

16.4

-

23.7

-

Marketing and distribution

(15.9)

(17.9)

(18.5)

(24.3)

(16.8)

+5.7

(18.5)

+3.4

(% of Revenues)

9.4

8.1

6.4

7.5

4.7

-

7.9

-

Research and development

(29.7)

(33.6)

(36.2)

(37.8)

(33.9)

+14.1

(33.8)

+0.6

(% of Revenues)

17.6

15.2

12.6

11.7

9.4

-

14.3

-

General and administration

(3.9)

(5.2)

(6.3)

(10.5)

(8.5)

+117.9

(3.5)

(32.7)

(% of Revenues)

2.3

2.3

2.2

3.3

2.4

-

1.5

-

Operating profit

64.0

96.7

122.2

139.1

187.0

+192.2

99.9

+3.3

(% of Revenues)

37.9

43.7

42.5

43.2

51.9

-

42.4

-

Financing costs

(0.0)

(0.0)

(0.0)

(0.0)

(0.0)

0.0

(0.0)

0.0

Other financial income (expense)

0.3

0.3

0.3

(0.9)

1.6

+433.3

0.8

+166.7

Other expense

-

(0.0)

(2.8)

0.3

(2.4)

-

-

-

Profit before taxes

64.2

97.0

119.7

138.4

186.2

+190.0

100.7

+3.8

(% of Revenues)

38.0

43.8

41.7

42.9

51.6

-

42.7

-

Income taxes

(16.8)

(26.3)

(33.7)

(39.6)

(54.4)

+223.8

(28.3)

+7.6

Net income

47.4

70.7

86.0

98.8

131.8

+178.1

72.4

+2.4

(% of Revenues)

28.1

31.9

29.9

30.7

36.6

-

30.7

-

Attributable to

Chugai shareholders

47.4

70.7

86.0

98.8

131.8

+178.1

72.4

+2.4

Non-controlling interests

-

-

-

-

-

-

-

-

Earnings per share

Basic (yen)

28.84

43.02

52.31

60.11

80.14

+177.9

44.00

+2.3

Diluted (yen)

28.82

42.99

52.28

60.08

80.09

+177.9

43.99

+2.3

Other financial income (expense) includes net amount of FX related gains/losses.

Chugai Pharmaceutical Co., Ltd. (4519) Supplementary Materials for Consolidated Financial Results for the 2nd quarter of FY2022(IFRS)

3

IFRS results (YTD)

(Billions of yen)

Actual

Actual

Actual

FY2020

FY2021

FY2022

1-12

1-3

1-6

1-9

1-12

1-3

Change

1-6

Change

1-9

Change

1-12

Change

YTD

YTD

YTD

YTD

YTD

YTD

(%)

YTD

(%)

YTD

(%)

YTD

(%)

Revenues

786.9

168.8

390.2

677.5

999.8

360.6

+113.6

596.2

+52.8

Sales

633.3

130.3

304.1

538.7

802.8

242.7

+86.3

452.8

+48.9

Domestic

409.1

94.9

203.4

362.6

518.9

161.7

+70.4

273.8

+34.6

Overseas

224.2

35.4

100.7

176.0

283.9

81.0

+128.8

179.0

+77.8

Royalties and other operating income

153.6

38.6

86.1

138.8

196.9

25.9

(32.9)

51.4

(40.3)

Royalty and profit-sharing income

129.6

36.6

83.3

135.4

187.2

25.2

(31.1)

50.4

(39.5)

Other operating income

24.1

2.0

2.8

3.4

9.8

0.7

(65.0)

1.0

(64.3)

Other revenue

-

-

-

-

-

91.9

-

91.9

-

Cost of sales

(273.5)

(55.3)

(123.4)

(227.6)

(338.1)

(114.4)

+106.9

(194.2)

+57.4

(% of Sales)

43.2

42.4

40.6

42.2

42.1

47.1

-

42.9

-

Gross profit

513.5

113.5

266.8

449.9

661.6

246.1

+116.8

401.9

+50.6

(% of Revenues)

65.3

67.2

68.4

66.4

66.2

68.2

-

67.4

-

Operating expenses

(212.3)

(49.5)

(106.2)

(167.1)

(239.7)

(59.1)

+19.4

(115.0)

+8.3

(% of Revenues)

27.0

29.3

27.2

24.7

24.0

16.4

-

19.3

-

Marketing and distribution

(72.6)

(15.9)

(33.8)

(52.2)

(76.6)

(16.8)

+5.7

(35.3)

+4.4

(% of Revenues)

9.2

9.4

8.7

7.7

7.7

4.7

-

5.9

-

Research and development

(117.9)

(29.7)

(63.3)

(99.5)

(137.3)

(33.9)

+14.1

(67.7)

+7.0

(% of Revenues)

15.0

17.6

16.2

14.7

13.7

9.4

-

11.4

-

General and administration

(21.8)

(3.9)

(9.1)

(15.3)

(25.8)

(8.5)

+117.9

(12.0)

+31.9

(% of Revenues)

2.8

2.3

2.3

2.3

2.6

2.4

-

2.0

-

Operating profit

301.2

64.0

160.7

282.8

421.9

187.0

+192.2

286.9

+78.5

(% of Revenues)

38.3

37.9

41.2

41.7

42.2

51.9

-

48.1

-

Financing costs

(0.1)

(0.0)

(0.0)

(0.0)

(0.0)

(0.0)

0.0

(0.0)

0.0

Other financial income (expense)

(1.5)

0.3

0.6

0.9

0.1

1.6

+433.3

2.4

+300.0

Other expense

(1.5)

-

(0.0)

(2.8)

(2.5)

(2.4)

-

(2.4)

-

Profit before taxes

298.2

64.2

161.3

280.9

419.4

186.2

+190.0

286.9

+77.9

(% of Revenues)

37.9

38.0

41.3

41.5

41.9

51.6

-

48.1

-

Income taxes

(83.5)

(16.8)

(43.1)

(76.8)

(116.4)

(54.4)

+223.8

(82.8)

+92.1

Net income

214.7

47.4

118.1

204.2

303.0

131.8

+178.1

204.2

+72.9

(% of Revenues)

27.3

28.1

30.3

30.1

30.3

36.6

-

34.3

-

Attributable to

Chugai shareholders

214.7

47.4

118.1

204.2

303.0

131.8

+178.1

204.2

+72.9

Non-controlling interests

-

-

-

-

-

-

-

-

-

Earnings per share

Basic (yen)

130.66

28.84

71.86

124.17

184.29

80.14

+177.9

124.14

+72.8

Diluted (yen)

130.53

28.82

71.81

124.09

184.17

80.09

+177.9

124.08

+72.8

Other financial income (expense) includes net amount of FX related gains/losses.

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)" presents the amount after the stock split.

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Chugai Pharmaceutical Co. Ltd. published this content on 21 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 July 2022 07:13:04 UTC.