Kaken Pharmaceutical : Reference Data of Financial Statements Fiscal 2023

Consolidated Financial Results for Fiscal 2023

(Reference Data of Consolidated Financial Results)

May 14, 2024

KAKEN PHARMACEUTICAL CO., LTD.

Corporate Communications

Tel: [phone]

Email: [e-mail]

1. Summary of Consolidated Financial Statements for Fiscal 2023
				(amounts are rounded down to the nearest million Yen)
	FY	FY	FY	Change		Plan	Change
	2021	2022	2023	Yen	%	2024	Yen	%
Net sales	76,034	72,984	72,044	(940)	98.7%	75,100	3,055	104.2%
Operating profit	17,064	7,998	9,513	1,514	118.9%	7,400	(2,113)	77.8%
Ratio to net sales	22.4%	11.0%	13.2%			9.9%
Ordinary profit	17,542	8,727	9,951	1,223	114.0%	7,800	(2,151)	78.4%
Ratio to net sales	23.1%	12.0%	13.8%			10.4%
Profit	9,549	5,440	8,025	2,585	147.5%	5,600	(2,425)	69.8%
Ratio to net sales	12.6%	7.5%	11.1%			7.5%
Per share profit (Yen)	251.43	144.80	212.67			147.88
ROE	7.0%	4.0%	5.7%
Comprehensive income	9,563	5,475	11,684	6,208	213.4%

Capital expenditures	3,510	1,968	2,304	335	117.1%	3,000	695	130.2%
R&D expenses	8,420	15,789	12,543	(3,246)	79.4%	15,700	3,156	125.2%
Depreciation and amortization	2,481	2,546	2,596	49	102.0%	2,600	3	100.2%

Number of employees

1,164

1,130

1,135

5

2. Consolidated Net Sales by Segment

(amounts are rounded down to the nearest million Yen)

	FY	FY	FY	Change
	2021	2022	2023	Yen		%
Pharmaceuticals,
medical devices &	73,623	70,562	69,613	(948)		98.7%
agrochemicals
Real estate business	2,410	2,422	2,430	8		100.4%
Total	76,034	72,984	72,044	(940)		98.7%

1	KAKEN PHARMACEUTICAL CO., LTD.

3. Summary of Consolidated Balance Sheet

(amounts are rounded down to the nearest million Yen)

	As of		As of		As of		YoY
	March 31,	Ratio	March 31,	Ratio	March 31,	Ratio	Increase
	2022		2023		2024		(Decrease)
Total assets	165,181	100.0%	166,328	100.0%	171,623	100.0%	5,294
Current assets	110,613	67.0%	109,903	66.1%	106,974	62.3%	(2,928)
Non-current assets	54,567	33.0%	56,425	33.9%	64,648	37.7%	8,223
Total liabilities	26,855	16.3%	29,491	17.7%	27,868	16.2%	(1,623)
Current liabilities	19,049	11.5%	20,838	12.5%	19,024	11.1%	(1,814)
Non-current liabilities	7,806	4.7%	8,653	5.2%	8,843	5.2%	190
Total net assets	138,325	83.7%	136,836	82.3%	143,755	83.8%	6,918
Capital stock	23,853	14.4%	23,853	14.3%	23,853	13.9%	0
Capital surplus	11,406	6.9%	11,406	6.9%	11,462	6.7%	55
Retained earnings	126,347	76.5%	126,135	75.8%	128,506	74.9%	2,370
Treasury stock	(28,714)	▲ 17.4%	(30,026)	▲ 18.1%	(28,613)	▲ 16.7%	1,413
Net unrealized holding	4,551	2.8%	4,724	2.8%	7,184	4.2%	2,460
gain on securitiess
Remeasurements of	301	0.2%	165	0.1%	1,363	0.8%	1,198
defined benefit plans
Non-controlling interests	578	0.4%	578	0.3%	0	-	(578)

4. Summary of Consolidated Statements of Cash Flows

(amounts are rounded down to the nearest million Yen)

	FY	FY	FY	Change
	2021	2022	2023
Net cash provided by (used in) operating activities	13,336	9,253	2,577	(6,675)
Net cash provided by (used in) investing activities	(7,888)	(2,627)	(5,854)	(3,227)
Net cash provided by (used in) financing activities	(8,129)	(6,990)	(5,658)	1,331
Cash and cash equivalents at end of year	74,625	74,260	65,325	(8,935)

2	KAKEN PHARMACEUTICAL CO., LTD.

5. Summary of Non-consolidated Financial Statements for Fiscal 2023
				(amounts are rounded down to the nearest million Yen)
	FY	FY	FY	Change		Plan	Change
	2021	2022	2023	Yen	%	2024	Yen	%
Net sales	75,946	72,886	71,955	(930)	98.7%	75,000	3,044	104.2%
Operating profit	17,429	8,365	9,784	1,418	117.0%	7,500	(2,284)	76.7%
Ratio to net sales	23.0%	11.5%	13.6%			10.0%
Ordinary profit	17,866	8,930	10,220	1,289	114.4%	7,900	(2,320)	77.3%
Ratio to net sales	23.5%	12.3%	14.2%			10.5%
Profit	9,897	6,765	8,483	1,717	125.4%	5,700	(2,783)	67.2%
Ratio to net sales	13.0%	9.3%	11.8%			7.6%
Per share profit (Yen)	260.61	180.07	224.79			150.52
Capital expenditures	3,510	1,968	2,304	335	117.0%	3,000	695	130.2%
R&D expenses	8,189	15,410	12,427	(2,983)	80.6%	15,700	3,272	126.3%
Depreciation and amortization	2,480	2,546	2,596	49	102.0%	2,600	3	100.2%
Export volume	6,822	7,115	6,353	(761)	89.3%
Pharmaceuticals	4,430	4,294	3,260	(1,033)	75.9%
Agrochemicals	2,392	2,821	3,092	271	109.6%
Number of employees	1,152	1,117	1,124	7

6. Non-consolidated Net Sales by Segment

(amounts are rounded down to the nearest million Yen)

	FY	FY	FY	Change		Plan	Change
	2021	2022	2023	Yen		%	2024	Yen		%
Pharmaceuticals & medical	68,030	64,405	63,458	(946)		98.5%	66,220	2,761		104.4%
devices
Agrochemicals	5,505	6,058	6,066	7		100.1%	6,340	273		104.5%
Real estate business	2,410	2,422	2,430	8		100.4%	2,440	9		100.4%
Total	75,946	72,886	71,955	(930)		98.7%	75,000	3,044		104.2%

3	KAKEN PHARMACEUTICAL CO., LTD.

7. Sales of Main Pharmaceuticals and Medical Devices (Non-consolidated)

(amounts are rounded down to the nearest million Yen)

	FY	FY	Change	Plan	Change
	2022	2023	(%)	2024	(%)
Onychomycosis treatment	17,985	17,116	95.2%	17,200	100.5%
Clenafin
Anti-osteoarthritis agent	17,062	18,040	105.7%	19,000	105.3%
Artz
Post-operativeanti-adhesive	7,790	6,995	89.8%	6,800	97.2%
Seprafilm
Wound-healing agent	2,759	2,626	95.2%	2,600	99.0%
Fiblast
Primary axillary
hyperhidrosis treatment	1,257	1,812	144.1%	2,200	121.4%
Ecclock
Periodontal regenerative agent	891	898	100.7%	900	100.2%
Regroth
Lumbar disc herniation treatment	392	382	97.5%	400	104.7%
Hernicore
Generic products (total)	8,201	7,992	97.4%	8,100	101.4%

8. Projects under Development

As of May 14, 2024

Development	Planned	Development	Remarks
Code	Indication	Stage (*)
KAR	Head lice	P III	In-licensed from Arbor Pharmaceuticals, LLC.
Product name in the US: Sklice®
KP-001	Refractory vascular	P III	Development project transferred through succession
malformations	from ARTham Therapeutics Inc.
KP-483	Solid tumors	P I	Product discovered in-house
(Immuno-oncology)
NM26-2198	Atopic dermatitis	P I	Co-development with Numab Therapeutics AG
KP-910	Peripheral neuropathic	P I	Product discovered in-house
pain
Seladelpar	Primary biliary	P I	In-licensed from CymaBay Therapeutics, Inc.
cholangitis
Tildacerfont	Congenital adrenal	P I	In-licensed from Spruce Biosciences, Inc.
hyperplasia
KP-001 (USA)	Refractory vascular	P I	Development project transferred through succession
malformations	from ARTham Therapeutics Inc.

(*) The development stage includes the preparatory period for clinical trials.

BBI-4000: Discontinued development for the planned indication of primary palmoplantar hyperhidrosis by the results of P I clinical trial.

4	KAKEN PHARMACEUTICAL CO., LTD.