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    4552   JP3701000006

JCR PHARMACEUTICALS CO., LTD.

(4552)
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JCR Pharmaceuticals : Financial Summary Consolidated Financial Results for the Year ended June 30, 2021 (FY2021) (Japanese Standard)

09/16/2021 | 01:32am EDT
(Percentage shows year-on-yearchanges.)

Translation - Original Text in Japanese

JCR Pharmaceuticals Co., Ltd. (4552)

Financial Summary

Consolidated Financial Results for the Year ended June 30, 2021 (FY2021)

(Japanese standard)

July 29, 2021

Listed company name: JCR Pharmaceuticals Co., Ltd.

Listed stock exchange: Tokyo Stock Exchange

Code number:

4552

URL: https://www.jcrpharm.co.jp/

Representative:

(Title) Representative Director, Chairman and President

(Name) Shin Ashida

Person in charge of inquires:

(Title) Corporate Officer, Executive Director, Administration Division

(Name) Yutaka Honda

TEL: 0797(32)1995

Scheduled date to file quarterly report: August 12, 2021

Scheduled date to commence dividend payments: -

Preparation of supplemental information for this financial summary: None

IR Conference: None

(Fractions smaller than one million yen omitted)

1. Consolidated Financial Results for 1Q FY2021 (April 1, 2021 to June 30, 2021)

(1) Consolidated Operating Results (Cumulative)

Net sales

Operating income

Ordinary income

Profit attributable to

owners of parent

Three Months Ended

million yen

%

million yen

%

million yen

%

million yen

%

June 30, 2021

9,813

89.4

2,984

280.3

3,000

247.6

1,532

99.8

June 30, 2020

5,181

0.5

784

70.2

862

84.8

767

107.4

(Reference)

Comprehensive income: Three months ended June 30, 2021: 1,476 million yen (92.3%)

Three months ended June 30, 2020: 767 million yen (215.2%)

Ernings per Share

Erningsper Share

(basic)

(diluted)

Three Months Ended

yen

yen

June 30, 2021

12.40

12.34

June 30, 2020

6.22

6.19

(Note)

We conducted a 4-for-1 stock split on October 1, 2020. Calculations of "Earnings per share (basic)" and "Earnings per share

(diluted)" are based on the assumption that the stock split was implemented at the beginning of the previous fiscal year.

  1. Consolidated Financial Conditions

Total assets

Net assets

Equity ratio

AS of

million yen

million yen

%

June 30, 2021

76,262

39,113

50.4

March 31, 2021

73,784

38,557

51.3

(Reference)

Shareholders' equity: As of Jun. 30, 2021: 38,404 million yen

As of Mar. 31, 2021: 37,864 million yen

2. Dividends

Dividend per share

1st quarter

2nd quarter

3rd quarter

Year-end

Annual

yen

yen

yen

yen

yen

FY2020

-

18.00

-

7.50

-

FY2021

-

FY2021 (Forecast)

8.00

-

8.00

16.00

(Notes) 1. No revisions were made to the most recently announced dividend forecast.

2.

We conducted a 4-for-1 stock split on October 1, 2020. The year-end dividend per share shown for the fiscal year ended March

31, 2021 reflects the impact of this stock split, and the annual dividend is presented as "-". If the stock split is assumed to have

been implemented at the beginning of the previous fiscal year, the 2nd quarter-end dividend per share for the fiscal year ended

March 31, 2021 would be 4.50 yen and the annual dividend per share would be 12.00 yen.

2. Breakdown of the year-end dividend for the fiscal year ended March 31, 2021 Ordinary dividend: 7.00 yen

Commemorative dividend: 0.50 yen

3. Consolidated Forecasts for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)

(Percentage figures for the fiscal year represent the changes from the previous year.)

Profit

Earnings per

Net sales

Operating income

Ordinary income

attributable to owners

share

of the parent

million yen

%

million yen

%

million yen

%

million yen

%

yen

Year ending

49,000

62.9

18,700

126.1

18,700

120.3

13,300

92.9

107.68

March 31, 2022

(Notes) No revisions were made to the most recently announced financial results forecast.

Translation - Original Text in Japanese

JCR Pharmaceuticals Co., Ltd. (4552)

*Note

  1. Changes in significant subsidiaries during the period (changes in specified subsidiaries resulting in the change in consolidation scope): None
  2. Application of specific accounting practices for preparing quarterly consolidated financial statements: None
  3. Changes in accounting policy, changes in accounting estimates and restatements
    1. Changes in accounting policy due to the revision of accounting standards, etc. :Yes

2.

Changes in accounting policy other than 1.

: None

3.

Changes in accounting estimates

: None

4.

Restatements

: None

(Note) For details, please refer to "2. Quarterly consolidated financial statements and important notes, (3) Notes to quarterly consolidated financial statements, (Changes in accounting policy)" on page 9 of the attached material.

  1. Number of shares outstanding (common stocks)
    1. Number of outstanding shares
      as of the end of the period (including treasury stock)
    2. Number of treasury stock as of the end of the period
    3. Average number of shares during the period (quarterly

As of June 30, 2021

129,686,308 shares

As of March 31, 2021

129,686,308 shares

As of June 30, 2021

6,060,744 shares

As of March 31, 2021

6,071,644 shares

As of June 30, 2021

123,623,198 shares

As of June 30, 2020

123,324,858 shares

cumulative amount)

(Note) We conducted a 4-for-1 stock split on October 1, 2020. Calculations for "Average number of shares during the period" are based on the assumption that the stock split was implemented at the beginning of the previous fiscal year.

  • The quarterly financial statements are outside of the scope of quarterly review by a certified public accountant or an audit firm.
  • Explanation on the appropriate use of forecasts of financial results and other comments

(Note on forward-looking statements, etc.)

Forward-looking statements, such as forecasts of financial results, contained in this document are based on information currently available to the Company and certain assumption that are judged as rational. The Company does not assure the achievement of these forecasts. In addition, actual financial results may differ significantly from forecasts due to various reasons. For assumptions underlying forecasts of financial results and notes regarding the appropriate use of forecasts of financial results, please refer to "1. Qualitative information for quarterly financial statements, (3) Explanation on projections such as forecasts of consolidated financial results" on page 4 of the attached material.

Translation - Original Text in Japanese

JCR Pharmaceuticals Co., Ltd. (4552)

Table of Contents for Attached Material

1.

Qualitative information for quarterly financial statements .................................................................................................

2

(1) Explanation on financial results ..............................................................................................................................

2

(2)

Explanation on financial status ...............................................................................................................................

4

(3) Explanation on projections such as forecasts of consolidated financial results ......................................................

4

2.

Quarterly consolidated financial statements and important notes.......................................................................................

5

(1)

Quarterly consolidated balance sheets ....................................................................................................................

5

(2) Quarterly consolidated statements of income and quarterly consolidated statements of comprehensive income...

7

(Quarterly consolidated statements of income) ........................................................................................................

7

(Quarterly consolidated statements of comprehensive income) ...............................................................................

8

(3)

Notes to Consolidated Financial Statements .....................................................................................................................

9

(Notes on going concern assumption) ......................................................................................................................

9

(Notes on any significant changes in the amount of shareholders' equity) ..............................................................

9

(Changes in accounting policy) ................................................................................................................................

9

(Concerning quarterly consolidated statements of income) .....................................................................................

9

1

Translation - Original Text in Japanese

JCR Pharmaceuticals Co., Ltd. (4552)

1. Qualitative information for quarterly financial statements

  1. Explanation on financial results
  1. Financial results for 1Q FY2021

Net sales amounted to 9,813 million yen (up 89.4% year on year).

Sales of our mainstay products, such as our recombinant human growth hormone product GROWJECT®, increased year on year due to an increase in sales volume, despite an NHI price revision in April 2021.

In addition, total net sales rose year on year as a result of sales launches for stock solution for AstraZeneca K.K.'s COVID-19 vaccine and IZCARGO® for I.V. infusion 10mg, which was added to the NHI price list in May 2021.

Profits increased year on year at every level, with operating income of 2,984 million yen (up 280.3%), ordinary income of 3,000 million yen (up 247.6%), and quarterly profit attributable to owners of parent of 1,532 million yen (up 99.8%).

In May 2021, we terminated an agreement concluded for first right of refusal pertaining to certain products currently in the preclinical stage of development upon mutual agreement of the parties. This resulted in a loss on contract termination of 1,000 million yen, which has been recorded as an extraordinary loss.

As a result of proactive R&D activities, R&D expenses totaled 1,754 million yen (up 620 million yen, or 54.7%, year on year).

Previous quarterly consolidated results

Current quarterly consolidated results

(cumulative)

(cumulative)

Rate of change

(April 1, 2020 to June 30, 2020)

(April 1, 2021 to June 30, 2021)

Amount (million yen)

Amount (million yen)

%

Net sales

5,181

9,813

89.4

Operating income

784

2,984

280.3

Ordinary income

862

3,000

247.6

Profit attributable to owners of the parent

767

1,532

99.8

[2] Main components of sales

Previous quarterly consolidated results

Current quarterly consolidated results

(cumulative)

(cumulative)

Rate of change

(April 1, 2020 to June 30, 2020)

(April 1, 2021 to June 30, 2021)

Amount (million yen)

Amount (million yen)

%

Human growth hormone product

3,302

3,311

0.3

GROWJECT®

Regenerative medical products

235

813

244.6

TEMCELL® HS Inj.

Treatment for renal anemia

1,508

1,603

6.3

Epoetin Alfa BS Inj. [JCR]

903

644

(28.7)

Darbepoetin Alfa BS Inj. [JCR]

604

958

58.5

Treatment for Fabry disease

112

154

37.4

Agalsidase Beta BS I.V. Infusion [JCR]

Treatment for mucopolysaccharidosis type II

224

IZCARGO for I.V. Infusion

AZD1222 stock solution

3,671

Income from contractual payment

10

10

0.0

2

Translation - Original Text in Japanese

JCR Pharmaceuticals Co., Ltd. (4552)

  1. Status of R&D

[Treatments for lysosomal storage disorders]

  • In treatments for lysosomal storage disorders, a priority field for development, we are currently conducting development of new drugs that employ our unique blood-brain barrier (BBB) technology, J-Brain Cargo®
  • For pabinafusp alfa (development code: JR-141/ IZCARGO® for I.V. infusion 10mg), our BBB-penetrating product for the treatment of patients with Hunter syndrome, we commenced sales in Japan in May 2021. Furthermore, we filed for marketing approval of JR-141 in Brazil with the Brazilian Health Regulatory Agency (ANVISA) in December 2020. In other regions, JR-141 received orphan drug designation from the U.S. Food and Drug Administration (FDA) in October 2018 and the European Medicines Agency (EMA) in February 2019. Moreover, in February 2021, JR-141 received FDA Fast Track designation along with approval to begin a Phase III clinical trial. In addition to the U.S., we are preparing to start studies in Brazil and Europe as a global clinical trial.
  • For our BBB-penetrating product candidate for the treatment of patients with mucopolysaccharidosis type I (MPS I) (development code: JR-171), we started a Phase I/II clinical trial in Japan and Brazil in October 2020 as our first global clinical trial, and received approval to begin clinical trials in the U.S. JR-171 received orphan drug designation from the U.S. Food and Drug Administration (FDA) in February 2021 and the European Medicines Agency (EMA) in March 2021
  • We have also been successively conducting R&D into other treatments for lysosomal storage disorders that employ J - Brain Cargo®, including a treatment for Pompe disease (development code: JR-162), a treatment for Sanfilippo syndrome type A (development code: JR-441), a treatment for Sly syndrome (development code: JR-443), and a treatment for Sanfilippo syndrome type B (development code: JR-446). We will also develop each of these treatments globally.

[Regenerative medicine products]

  • In July 2019, we commenced Phase I/II clinical trial of TEMCELL® HS Inj. for the additional indication of neonatal hypoxic ischemic encephalopathy (HIE) (development code: JR-031HIE).
  • In February 2019, we commenced Phase I/II clinical trial of an allogeneic regenerative medical product using dental pulp stem cells (DPCs) for the indication of acute cerebral infarction with Teijin Limited.(development code: JTR- 161/JR-161).

[Human growth hormone product]

  • In July 2018, we started a Phase III clinical trial for an additional indication for GROWJECT® in patients with short stature homeobox-containing gene (SHOX) deficiency.
  • In March 2021, we initiated a Phase II clinical trial of a recombinant long-acting growth hormone (development code: JR-142).

3

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

Disclaimer

JCR Pharmaceuticals Co. Ltd. published this content on 16 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 September 2021 05:31:00 UTC.


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Financials
Sales 2022 49 433 M 432 M 432 M
Net income 2022 14 671 M 128 M 128 M
Net cash 2022 10 290 M 90,0 M 90,0 M
P/E ratio 2022 24,4x
Yield 2022 0,54%
Capitalization 357 B 3 128 M 3 125 M
EV / Sales 2022 7,02x
EV / Sales 2023 8,65x
Nbr of Employees 732
Free-Float 45,2%
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Number of Analysts 11
Last Close Price 2 890,00 JPY
Average target price 3 624,55 JPY
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Managers and Directors
Shin Ashida Chairman & President
Hiroyuki Sonoda MD, GM-Research & Head-Corporate Strategy
Yutaka Honda Executive Officer & General Manager-Administration
Toshihiro Ishikiriyama Independent Outside Director
Takashi Suetsuna Independent Outside Director
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