January 29, 2016 These financial statements have been prepared for reference only in accordance with accounting principles and practices generally accepted in Japan.
Code number: 7459 http://www.medipal.co.jp
Representative: Shuichi Watanabe, President and CEO Phone: +81-3-3517-5171 Contact: Mamoru Tsuchishio, Manager of Corporate Communications Department
Filing of Quarterly Report (scheduled): February 10, 2016 Start of Distribution of Dividends (scheduled): -
Preparation of Supplementary Materials for the Quarterly Financial Results: Yes
Presentation Meeting for Quarterly Financial Results: Yes (For institutional investors and analysts)
(All amounts are rounded down to the nearest million yen.)
-
Consolidated Results for the Third Quarter of the Fiscal Year Ending March 31, 2016 (April 1, 2015 to December 31, 2015)
Sales and Income (Percentages represent change compared with the corresponding period of the previous fiscal year.)
Net sales (¥ million)
Year-on-year change (%)
Operating income
(¥ million)
Year-on-year change (%)
Ordinary income
(¥ million)
Year-on-year change (%)
Nine months ended December 31, 2015
Nine months ended December 31, 2014
2,292,008
2,169,703
5.6
(2.0)
31,920
23,839
33.9
(8.1)
41,384
32,395
27.7
(15.6)
Note: Comprehensive income: Nine months ended December 31, 2015: ¥36,134 million (17.8%);
Nine months ended December 31, 2014: ¥30,680 million (16.1%)
Net income attributable to owners of the parent (¥ million)
Year-on-year change (%)
Earnings per share (¥)
Earnings per share (diluted) (¥)
Nine months ended December 31, 2015
Nine months ended December 31, 2014
22,169
17,407
27.4
(15.8)
97.90
76.99
-
-
Financial Position
-
Cash Dividends
Dividends per share (¥)
1st Quarter
2nd Quarter
3rd Quarter
Year-end
Full year
Year ended March 31, 2015
-
12.00
-
12.00
24.00
Year ending March 31, 2016
-
13.00
-
Year ending March 31, 2016 (est.)
13.00
26.00
Note: Revisions to projected dividends during the third quarter: None
-
Forecast of Consolidated Results for the Fiscal Year Ending March 31, 2016 (April 1, 2015 - March 31, 2016)
(Percentages represent change compared to the previous fiscal year)
Net sales
Operating income
Ordinary income
Net income attributable to owners of the parent
Earnings per share
(¥ million)
(%)
(¥ million)
(%)
(¥ million)
(%)
(¥ million)
(%)
(¥)
Fiscal year
3,033,000
5.6
38,000
15.9
51,000
14.7
26,400
11.4
116.59
Note: Revisions to forecast of consolidated results during the three months ended December 31, 2015: No
*Notes Changes in significant subsidiaries during the period (changes in specified subsidiaries during the period accompanied by change in scope of consolidation): None
New: - companies ( - ) Excluded: - companies ( - )
Application of accounting methods specific to preparation of the quarterly consolidated financial statements:
None
Changes in accounting policies and changes in/restatements of accounting estimates
Changes in accounting policies due to revisions of accounting standards: Yes
Changes in accounting policies other than (a) above: None
Changes in accounting estimates: None
Restatements: None
Note: For details, please see "2. Summary Information (Notes) (3) Summary of Changes in Accounting Policies and Changes in/Restatements of Accounting Estimates" on page 4 of the attached materials.
Number of shares issued and outstanding (common stock)
Nine months ended December 31, 2015
244,524,496
Year ended March 31, 2015
244,524,496
Nine months ended December 31, 2015
18,084,853
Year ended March 31, 2015
18,082,826
Nine months ended December 31, 2015
226,440,672
Nine months ended December 31, 2014
226,108,539
Number of shares at the end of the period (including treasury stock)
Number of treasury shares at the end of the period
Average number of shares outstanding (cumulative with earlier quarters)
Qualitative Information on Quarterly Financial Results
Description of Results of Operations
Description of Financial Position
Description of Future Outlook including Projected Consolidated Results
Summary Information (Notes)
Summary of Changes in Significant Subsidiaries during the Period
Summary of Accounting Methods Specific to Preparation of the Quarterly Consolidated Financial Statements
Summary of Changes in Accounting Policies and Changes in/Restatements of Accounting Estimates
Quarterly Consolidated Financial Statements
Quarterly Consolidated Balance Sheets
Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income
Notes to the Quarterly Consolidated Financial Statements (Notes Regarding Assumptions of Going Concern)
-
Description of Results of Operations
During the third quarter of the fiscal year ending March 31, 2016, the nine months ended December 31, 2015, Japan's economy continued to recover gradually due to factors such as the effects of the government's economic policies and improvements in employment and income as well as corporate earnings, despite concerns about a downturn in overseas economies.
In these economic conditions, the MEDIPAL Group launched the 2017 MEDIPAL Medium-Term Vision, "Change the Oroshi - Innovate and Create," for the three years ending March 31, 2017, and implemented measures in line with this vision in each of its businesses. The MEDIPAL Group will aim for the growth of the Group and further enhancement of its corporate value. To accomplish these objectives, the MEDIPAL Group will further strengthen the logistics and sales functions it has cultivated to innovate in existing businesses, and will also diversify its earnings by creating new businesses with the effective use of assets, human resources and funds as well as use of external resources.
For the nine months ended December 31, 2015, consolidated net sales were ¥2,292,008 million (a 5.6 percent increase compared with the same period of the previous fiscal year), operating income was ¥31,920 million (a
33.9 percent increase), ordinary income was ¥41,384 million (a 27.7 percent increase) and net income attributable to owners of the parent was ¥22,169 million (a 27.4 percent increase).
A summary of results by principal business segments follows below.
Prescription Pharmaceutical Wholesale BusinessIn the market for prescription pharmaceuticals, sales grew steadily due to promotion of the use of generic drugs and expanding demand for new hepatitis C treatments and new drugs eligible for the price premium to promote the development of new drugs and eliminate off-label use. In addition, the MEDIPAL Group worked to secure profits by making clear progress in negotiating purchase prices with customers while also reducing selling, general and administrative expenses, partly through greater efficiency in logistics operations.
In this business, the MEDIPAL Group has been taking various measures to fully utilize its wholesale functions, with the idea of optimizing and raising the efficiency of the overall supply chain from pharmaceutical manufacturers to patients as social infrastructure that supports safe, secure medical treatment.
In strengthening its distribution infrastructure, the MEDIPAL Group is aiming for the nationwide expansion of high-quality, high-function and disaster-ready ALCs.1 Three new ALCs are under construction in Higashi-ku, Fukuoka-shi, Tsukubo-gun in Okayama, and Misato-shi in Saitama, in addition to the six currently in operation
in major metropolitan areas. The MEDIPAL Group is also establishing FLCs2 in areas where ALCs are already operating. Furthermore, the MEDIPAL Group is promoting PRESUS®,3 a new operations support system it developed for dispensing pharmacies. This system offers advantages such as prevention of stock-outs and improvement of operating efficiency through linkage with ALCs.
To strengthen sales, the MEDIPAL Group is appointing highly skilled and knowledgeable Assist Representatives (ARs)4 with medical representative (MR) certifications to undertake new promotional activities.
In addition, the MEDIPAL Group is operating a new business in which it provides Post-Marketing Surveillance (PMS) services under contract with pharmaceutical companies using its nationwide operating bases and its ARs and other human resources.
As a result, sales of the Prescription Pharmaceutical Wholesale Business were ¥1,606,236 million (a 4.8 percent increase compared with the same period of the previous fiscal year), and operating income was ¥17,721 million (a 49.1 percent increase).
Definition of Terms:
Area Logistics Center (ALC): A state-of-the-art logistics center that supplies prescription pharmaceuticals, medical supplies and other items primarily to dispensing pharmacies, hospitals and clinics.
Front Logistics Center (FLC): A combined sales and logistics base that is located near customers and supports stable supplies of products in coordination with ALCs.
PRESUS® (Pharmacy Real-time Support System): An all-in-one system for conducting automated ordering, inventory management, etc., using demand forecasting through linkage with ALCs to support the operations of dispensing pharmacies.
Assist Representative (AR): An internal designation given to Marketing Specialists (salespeople for the Prescription Pharmaceutical Wholesale Business), pharmacists and others who have passed the Medical Representative (MR) qualification exam.
Total assets (¥ million) | Net assets (¥ million) | Net worth ratio (%) | |
As of December 31, 2015 As of March 31, 2015 | 1,569,490 1,454,800 | 486,584 457,604 | 26.4 26.8 |
(Reference) Net worth: As of December 31, 2015: ¥414,080 million; As of March 31, 2015: ¥390,059 million
This summary of quarterly consolidated results is exempt from the quarterly review procedures based on the Financial Instruments and Exchange Act. Review procedures for the quarterly financial statements based on the Financial Instruments and Exchange Act had not been completed at the time of disclosure of this summary of quarterly consolidated results.
The projected results are based on information at the time of this announcement. Actual results may differ from figures in the projection owing to a wide range of factors. See page 4 of the attached materials for items regarding the projected results.
Table of Contents of Attached Materials
2 2 4 4 | |
4 4 4 4 | |
Quarterly Consolidated Statements of Income Quarterly Consolidated Statements of Comprehensive Income (Notes in the Event of Significant Changes in Shareholders' Equity) (Segment Information) | 5 5 7 7 8 9 9 9 9 |
1
1. Qualitative Information on Quarterly Financial Results2
Medipal Holdings Corporation issued this content on 29 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 February 2016 03:59:15 UTC
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