Consolidated Financial Statements
for the fiscal year ended December 31, 2022
Otsuka Holdings Co., Ltd.
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Financial Information
1. Basis of Preparation of Consolidated Financial Statements
The consolidated financial statements of Otsuka Holdings Co., Ltd. (hereinafter referred to as the "Company") are prepared in accordance with International Financial Reporting Standards (hereinafter referred to as "IFRS") pursuant to the provision of Article 93 of the Ordinance on Terminology, Forms, and Preparation Methods of Consolidated Financial Statements (Ordinance of the Ministry of Finance No. 28 of 1976; hereinafter referred to as the "Ordinance on Consolidated Financial Statements").
2. Audit Certification
In accordance with the provision of Article 193-2, paragraph (1) of the Financial Instruments and Exchange Act, the consolidated financial statements for the fiscal year ended December 31, 2022 were audited by KPMG AZSA LLC.
3. Special Effort to Ensure the Appropriateness of Consolidated Financial Statements and Others, and Development of a System for Preparing Consolidated Financial Statements Appropriately in Accordance with IFRS
The Company has been making special effort to ensure the appropriateness of consolidated financial statements and others, and developing a system for preparing consolidated financial statements and others appropriately in accordance with IFRS. The details are as follows:
- In order to develop a system that ensures a proper understanding of the contents of accounting standards, etc. and an adequate response to changes in accounting standards and others, the Company has joined the Financial Accounting Standards Foundation, regularly provides internal training, subscribes to professional journals published by the Japanese Institute of Certified Public Accountants, attends seminars hosted by the Financial Accounting Standards Foundation and auditing firms, etc., and makes other efforts.
- With regard to application of IFRS, the Company keeps up on accounting standards by obtaining press releases and standards published by the International Accounting Standards Board. In addition, the Company has developed the group's accounting policies and accounting guidelines in accordance with IFRS and practices accounting procedures based on these policies and guidelines to prepare appropriate consolidated financial statements in accordance with IFRS.
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1. Consolidated Financial Statements
- Consolidated Financial Statements
- Consolidated Statements of Financial Position
(Millions of yen) | ||||
Note | FY2021 | FY2022 | ||
(As of December 31, 2021) | (As of December 31, 2022) | |||
Assets | ||||
Current assets | ||||
Cash and cash equivalents | 6, 33 | 410,684 | 471,634 | |
Trade and other receivables | 7, 33 | 380,191 | 423,426 | |
Inventories | 8 | 180,350 | 223,507 | |
Income taxes receivable | 8,543 | 2,954 | ||
Other financial assets | 9, 33 | 20,074 | 17,481 | |
Other current assets | 10 | 48,036 | 52,934 | |
Subtotal | 1,047,880 | 1,191,939 | ||
Assets held for sale | 11 | 1,508 | 91 | |
Total current assets | 1,049,389 | 1,192,030 | ||
Non-current assets | ||||
Property, plant and equipment | 12, 20 | 487,089 | 510,674 | |
Goodwill | 13 | 295,735 | 335,442 | |
Intangible assets | 13 | 522,662 | 579,786 | |
Investments accounted for using the equity method | 15 | 227,790 | 241,743 | |
Other financial assets | 9, 33 | 173,956 | 177,421 | |
Deferred tax assets | 16 | 31,936 | 53,460 | |
Other non-current assets | 10, 23 | 32,355 | 12,156 | |
Total non-current assets | 1,771,526 | 1,910,685 | ||
Total assets | 2,820,915 | 3,102,716 | ||
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(Millions of yen) | ||||
Note | FY2021 | FY2022 | ||
(As of December 31, 2021) | (As of December 31, 2022) | |||
Liabilities and equity | ||||
Liabilities | ||||
Current liabilities | ||||
Trade and other payables | 17, 33 | 170,103 | 198,356 | |
Bonds and borrowings | 18, 33 | 32,877 | 26,440 | |
Lease liabilities | 20 | 17,096 | 17,717 | |
Other financial liabilities | 19, 33 | 1,988 | 3,307 | |
Income taxes payable | 10,490 | 28,340 | ||
Provisions | 22 | 9,542 | 763 | |
Contract liabilities | 25 | 12,458 | 13,376 | |
Other current liabilities | 21 | 213,302 | 250,891 | |
Subtotal | 467,859 | 539,193 | ||
Liabilities directly associated with assets held for sale | 11 | 50 | - | |
Total current liabilities | 467,910 | 539,193 | ||
Non-current liabilities | ||||
Bonds and borrowings | 18, 33 | 102,754 | 93,775 | |
Lease liabilities | 20 | 59,726 | 56,229 | |
Other financial liabilities | 19, 33 | 24,815 | 30,515 | |
Net defined benefit liabilities | 23 | 14,075 | 16,011 | |
Provisions | 22 | 1,358 | 1,507 | |
Contract liabilities | 25 | 57,771 | 50,736 | |
Deferred tax liabilities | 16 | 27,560 | 29,410 | |
Other non-current liabilities | 21 | 19,753 | 22,787 | |
Total non-current liabilities | 307,815 | 300,975 | ||
Total liabilities | 775,725 | 840,168 | ||
Equity | ||||
Equity attributable to owners of the Company | ||||
Share capital | 24 | 81,690 | 81,690 | |
Capital surplus | 24 | 506,724 | 506,579 | |
Treasury shares | 24 | (45,572) | (44,858) | |
Retained earnings | 24 | 1,482,197 | 1,553,219 | |
Other components of equity | 24 | (14,046) | 128,775 | |
Total equity attributable to owners of the Company | 2,010,994 | 2,225,407 | ||
Non-controlling interests | 34,195 | 37,140 | ||
Total equity | 2,045,189 | 2,262,547 | ||
Total liabilities and equity | 2,820,915 | 3,102,716 | ||
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(ii) Consolidated Statements of Income
(Millions of yen) | ||||
FY2021 | FY2022 | |||
Note | (Fiscal year ended | (Fiscal year ended | ||
December 31, 2021) | December 31, 2022) | |||
Revenue | 5, 25 | 1,498,276 | 1,737,998 | |
Cost of sales | 26 | (495,030) | (569,501) | |
Gross profit | 1,003,245 | 1,168,496 | ||
Selling, general and administrative expenses | 22, 26 | (622,326) | (724,129) | |
Share of profit of investments accounted for using the | 15 | 8,508 | 5,780 | |
equity method | ||||
(232,299) | (275,230) | |||
Research and development expenses | 26 | |||
Impairment losses | 14 | (6,479) | (41,521) | |
Other income | 27 | 11,348 | 23,445 | |
Other expenses | 28 | (7,499) | (6,518) | |
Operating profit | 154,497 | 150,323 | ||
Finance income | 29 | 13,981 | 28,693 | |
Finance expenses | 29 | (4,840) | (6,063) | |
Profit before tax | 163,638 | 172,954 | ||
Income tax expenses | 16 | (34,429) | (35,534) | |
Profit for the year | 129,209 | 137,419 | ||
Attributable to: | ||||
Owners of the Company | 31 | 125,463 | 134,019 | |
Non-controlling interests | 31 | 3,745 | 3,400 | |
Profit for the year | ||||
129,209 | 137,419 | |||
Earnings per share: | ||||
Basic earnings per share (Yen) | 231.32 | 247.01 | ||
Diluted earnings per share (Yen) | 231.15 | 246.99 |
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Otsuka Holdings Co. Ltd. published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 May 2023 07:57:10 UTC.