Appendix to the Consolidated Financial Summary FY2023 Second-Half

May 10th, 2024

JCR Pharmaceuticals Co., Ltd.

[Securities code]4552, Prime. TSE

Note : This document has been translated from a part of the Japanese original for reference purposes only.

In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

Contents

Consolidated Financial Results

2

Breakdown of Net Sales - Consolidated

3

Financial Status - Consolidated

4

Cash Flows - Consolidated

5

Consolidated Financial Results FY2024(forecast)

6

Breakdown of Net Sales - Consolidated FY2024(forecast)

7

＜Reference＞

Net Sales Trends by Product

8

Composition of Net Sales by Item

9

Trends in Sales Breakdown - Consolidated

10

Net Sales Trends (Excluding AZD1222 Stock Solution)

11

Trends in Composition Ratio of Cost/Expense

12

Correlation between R&D Expenses (before Deducting) and Main R&D Pipeline

13

Net Sales Trends by Product FY2024 Forecast

14

Net Sales Trends (Excluding AZD1222 Stock Solution) FY2024 Forecast

15

IZCARGO® Prescription Status

16

GROWJECT® Market Trends

17

GROWJECT® Market Trends

18

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

1

Consolidated Financial Results

（Unit: million yen)

FY2022

FY2023

Consolidated

Year-on-year

Full-year

Progress

results

results

Difference

Ratio

forecast

rate

(Revised)

◆ Operating income 7,531 million yen

Year-on-year: +2,556 million yen

Net sales

34,343

42,871

+8,528

＋24.8%

45,400

94.4%

Cost of sales

8,886

11,620

+2,733

＋30.8%

12,400

93.7%

Gross profit

25,456

31,251

+5,794

＋22.8%

33,000

94.7%

Selling, general and

20,480

23,719

+3,238

+15.8%

22,500

105.4%

administrative expenses

SG&A

11,678

12,484

+806

＋6.9%

12,800

97.5%

R&D expenses

8,802

11,234

+2,431

＋27.6%

9,700

115.8%

Operating profit

4,975

7,531

+2,556

＋51.4%

10,500

71.7%

Non-operating income

541

1,056

+515

+95.2%

ー

ー

Non-operating expenses

99

1,324

＋1,225

+ 1236.6%

ー

ー

Ordinary profit

5,418

7,264

+1,846

+34.1%

10,000

72.6%

Extraordinary income

10

0

(9)

(94.0)%

ー

ー

Extraordinary losses

16

20

+4

+26.3%

ー

ー

Profit before income taxes

5,412

7,244

+1,831

＋33.8%

ー

ー

FY2022

Net sales Cost of sales

SG&A

R&D expenses

FY2023

4,975

+ 8,528

△ 2,733

△ 806

  • 2,431

7,531

（Unit: million yen)

Income taxes

1,625

1,707

+82

+5.1%

ー

ー

Profit attributable to owners of

3,772

5,507

+1,735

＋46.0%

7,300

75.4%

parent

(Reference) R&D expenses before

9,480

12,787

3,307

+34.9%

11,700

109.3%

deducting contribution amount by

collaborative R&D destinations

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

Net sales

FY2022

FY2023

YoY Ratio

Cost of sales ratio

25.9%

27.1%

+1.2%

Cost of sales ratio

32.0%

32.8%

+0.8%

*Excluding Income from

contractual payment

R&D expense ratio

25.6%

26.2%

+0.6%

Operating profit ratio

14.5%

17.6%

+3.1%

2

Breakdown of Net Sales - Consolidated

（Unit: million yen)

FY2022

FY2023

Year-on-year

Full year

Progress

results

results

forecast

rate

Difference Ratio

(Revised)

◆Net sales 42,871 million yen

Year-on-year;+8,528 million

GROWJECT®

12,261

17,913

+5,652

+46.1%

19,500

91.9%

IZCARGO®*

4,414

5,171

+757

+17.2%

5,200

99.4%

TEMCELL®HS Inj.

3,404

3,236

(168)

(4.9)%

3,300

98.1%

Treatments for renal

4,696

4,652

(44)

(0.9)%

5,000

93.0%

anemia

Epoetin Alfa BS Inj.

2,710

1,994

(716)

(26.4)%

2,200

90.6%

[JCR]

Darbepoetin Alfa BS Inj.

1,986

2,658

+672

+33.8%

2,800

94.9%

[JCR]

Agalsidase Beta BS I.V.

964

1,661

+697

+72.2%

1,400

118.6%

Infusion [JCR]

Total Core Products

25,741

32,636

+6,895

+26.8%

34,400

94.9%

Income from contractual

6,546

7,413

+867

+13.3%

8,100

91.5%

payment

Other*

123

2,820

+2,697

+2192.7%

2,900

97.2%

AZD1222 stock solution

1,931

ー

(1,931)

(100.0)%

ー

ー

FY2022

GROWJECT®

IZCARGO®

TEMCELL®

Epoetin Alfa

Darbepoetin Alfa

Agalsidase Beta

Income from contractual payment

Other

AZD1222

FY2023

34,343

  • 5,652
    • 757
      (168)

(716)

+672

+697

+ 867

+ 2,697

(1,931)

42,871

Total Net Sales

34,343

42,871

+8,528

+24.8%

45,400

94.4%

（Unit: million yen)

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

* Sales of IZCARGO® related to NPS is included in Other

3

On 13 May 2024, the Progress rate for Total Net Sales was corrected. Correction is indicated by underlining.

Financial Status - Consolidated

（Unit: million yen）

End-Mar.

End-Mar.

Change

2023

2024

・Main

Increase/decrease

Total

+9,779

•

Cash and deposits

+5,477

Current

47,802

57,581

•

Accounts receivable -

assets

trade, and contract

assets

+3,797

•

Inventories

+2,419

Total

(2,490)

Non-

•

Property, plant and

current

47,135

44,644

assets

equipment

(2,640)

Total

94,937

102,226

+7,288

Current liabilities

Non- current liabilities

Total liabilities

Total net assets

Total

End-Mar.

End-Mar.

Change

2023

2024

・Main

Increase/decrease

Total

(5,626)

•

Income taxes

35,762

30,135

payable

+1,623

•

Short-term

borrowings

(7,850)

Total

+8,853

6,761

15,615

•

Long-term

+8,850

borrowings

42,523

45,750

Total

+3,226

52,413

56,475

Total

+4,061

94,937

102,226

+7,288

Equity ratio

54.2%

54.2%

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

On 13 May 2024, the change in total liabilities was corrected. Correction is indicated by underlining.

4

Cash Flows - Consolidated

Operating Activities

Investing Activities

Financing Activities

Cash and Cash Equivalents at

End of Period

18,756

13,278

9,312

1,948

(2,690) (2,031)

(5,500)

(15,002)

FY2022FY2023

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

(Unit: million yen)

FY2022

FY2023

Year-on-year

Profit before income taxes

5,412

7,244

＋1,831

Depreciation

1,997

3,197

＋1,199

Decrease (increase) in trade receivables and

3,269

(3,390)

(6,659)

accounts receivable - other

Decrease (increase) in inventories

(3,877)

(2,437)

＋1,439

Increase (decrease) in trade payables and

(2,162)

(281)

+1,880

accounts payable - other

Income taxes paid

(8,279)

1,982

＋10,261

Other

(1,859)

2.998

＋4,857

Operating Activities

(5,500)

9,312

14,813

Capital investment(property,plant and equipment)

(8,560)

(2,096)

＋6,463

Purchase of shares of subsidiaries and associates

(6,717)

(600)

+6,117

Other

275

5

(269)

Investing Activities

(15,002)

(2,690)

＋12,312

Bollowings

4,700

500

(4,200)

Dividends paid/ treasury shares

(2,729)

(2,485)

＋244

Other

(22)

(46)

(24)

Financing Activities

1,948

(2,031)

(3,980)

Net increase (decrease) in cash and cash

(17,454)

5,477

＋22,932

equivalents

Cash and Cash Equivalents at End of Period

13,278

18,756

+5,477

FY2022

FY2023

Depreciation

1,997

3,197

Capital investment (after subsidy deduction)

4,330

2,096

5

Consolidated Financial Results FY2024 forecast

（Unit: million yen）

FY2023

FY2024(forecast)

Consolidated

results

forecast

Year-on-year

Difference

Ratio

Net sales

42,871

41,300

(1,571)

(3.7)%

Cost of sales

11,620

10,400

(1,220)

(10.5)%

Gross profit

31,251

30,900

(351)

(1.1)%

Selling, general and

23,719

25,500

+1,781

+7.5%

administrative expenses

SG&A

12,484

12,500

+16

+ 0.1%

R&D expenses

11,234

13,000

+1,766

+ 15.7%

Operating profit

7,531

5,400

(2,131)

(28.3)%

Ordinary profit

7,264

4,600

(2,664)

(36.7)%

Profit attributable to owners of

5,507

3,700

(1,807)

(32.8)%

parent

(Reference) R&D expenses

before deducting contribution

12,787

15,062

+2,275

+17.8%

amount by collaborative R&D

destinations

Net sales

FY2023

FY2024

YoY

(forecast)

Ratio

Cost of sales ratio

27.1%

25.2%

(1.9)%

Cost of sales ratio

32.8%

31.3%

(1.4)%

*Excluding Income from

contractual payment

R&D expense ratio

26.2%

31.5%

+5.3%

Operating profit ratio

17.6%

13.1%

(4.5)%

On 13 May 2024, the year-on-year ratio changes in the cost of sales, gross profit, operating profit, ordinary profit and profit attributable to owners of parent/Profit were corrected. Corrections are indicated by underlining.

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

6

Breakdown of Net Sales - Consolidated

FY2024 forecast

（Unit: million yen）

FY2023

FY2024(forecast)

results

forecast

Year-on-year

Difference

Ratio

GROWJECT®

17,913

18,300

+387

+2.2%

IZCARGO®*

5,171

5,700

+529

+10.2%

TEMCELL®HS Inj.

3,236

2,800

(436)

(13.5)%

4,200

Treatments for renal anemia

4,652

(452)

(9.7)%

Epoetin Alfa BS Inj. [JCR]

1,994

2,200

+206

+10.3%

Darbepoetin Alfa BS Inj. [JCR]

2,658

2,000

(658)

(24.8)%

Agalsidase Beta BS I.V.

1,661

1,100

(561)

(33.8)%

Infusion [JCR]

Total Core Products

32,636

32,100

(536)

(1.6)%

Income from contractual

7,413

8,100

+687

+9.3%

payment

Other*

2,820

1,100

(1,720)

(61.0)%

Total Net Sales

42,871

41,300

(1,571)

(3.7)%

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

* Sales of IZCARGO® related to NPS is included in Other

7

On 13 May 2024, some of the FY2024 forecast, year-on-year difference, and ratio were corrected. Corrections are indicated by underlining.

Net Sales Trends by Product

Recombinant human growth hormone product

17,913

GROWJECT®

13,256

12,945

12,261

NHI

NHI

price

price

NHI price

revision

revision

revision

(8.1)%

(5.3)%

FY2020

FY2021

FY2022

FY2023

（Unit: million yen）

Recombinant therapeutic enzyme for mucopolysaccharidosis II (MPS II)

IZCARGO® I.V. infusion 10mg

From April 24, 2023: Co-promotion with Sumitomo Pharma Co., Ltd.

4,414

5,171

3,003

FY2021

FY2022

FY2023

*Excluding sales of IZCARGO® related to NPS

Human somatic stem cell-processed products

Human (allogenic) bone marrow-derived mesenchymal stem cells

TEMCELL® HS Inj.

3,497

3,404

3,236

2,441

FY2020

FY2021

FY2022

FY2023

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

Recombinant erythropoietin product

Epoetin Alfa BS Inj. [JCR]

Long-actingerythropoiesis-stimulating agent

Darbepoetin Alfa BS Inj. [JCR]

Epoetin Alfa

Darbepoetin Alfa

3,809

2,998

1,986

2,658

NHI price

NHI price

3,278 NHI price

Epo (7.0)%

Epo (2.6)%

2,876

revision

2,710

revision

1,994

revision

Darbe (12.3)％

Darbe (12.2)％

FY2020

FY2021

FY2022

FY2023

Recombinant treatment for Fabry disease

Agalsidase Beta BS I.V. Infusion [JCR]

Apr. 2022: Sales transferred to Sumitomo Pharma

1,661

964

711

470

NHI price

NHI price

NHI price

revision

revision

revision

(5.2)%

(4.4)%

FY2020

FY2021

FY2022

FY2023

8

Composition of Net Sales by Item

6%

17%

Total net sales

42%

4%

42,871

million yen

6%

5%12%

8%

FY2023

● GROWJECT®

17,913 million yen

● IZCARGO®

5,171 million yen

● TEMCELL®HS Inj.

3,236 million yen

● Epoetin Alfa BS Inj. [JCR]

1,994 million yen

● Darbepoetin Alfa BS Inj. [JCR] 2,658 million yen

● Agalsidase Beta BS I.V. Infusion [JCR]

1,661 million yen

● Income from contractual payment

7,413 million yen

● Other

2,820 million yen

*Excluding sales of IZCARGO® related to NPS

Copyright © 2024 JCR Pharmaceuticals Co., Ltd. All rights reserved.

On 13 May 2024, the sales composition percentage for 'Other' was corrected. Correction is indicated by underlining.

9

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

JCR Pharmaceuticals Co. Ltd. published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 13:42:24 UTC.