The original disclosure in Japanese was released on November 9, 2021 at 15:00 (GMT+8)
Consolidated Financial Statements for the Second Quarter Ended September 30, 2021 FY2022 (April 1, 2021 - March 31, 2022) [UNAUDITED]
November 9, 2021 | ||
Company name: | Takara Bio Inc. | |
Stock exchange listings: | Tokyo Stock Exchange (1st section) | |
Code number: | 4974 | |
URL: | https://www.takara-bio.co.jp | |
Company representative: | Koichi Nakao, President & | CEO |
Contact: | Takuya Kakemi, Executive Officer, Head of Corporate | |
Management Division | ||
Tel. (077) 565-6970 | ||
Scheduled date of quarterly statement filing: | November 12, 2021 | |
Scheduled date of starting delivery of dividends: | - | |
Supplementary documents of the financial results: | Yes | |
Financial results information meeting: | Yes |
Notes: 1. The accompanying financial statements have been prepared in accordance with accounting principles and practices generally accepted in Japan.
2. Amounts are rounded down to the nearest million yen.
1. Results for the six months ended September 30, 2021 (Apr. 1, 2021 - Sep. 30, 2021)
- Consolidated operating results
(Percentages indicate changes from the same period of the previous fiscal year.)
Six months ended | Six months ended | |||||||||
Sep. 30, 2021 | Sep. 30, 2020 | |||||||||
Net sales | (Millions of yen) | (%) | (Millions of yen) | (%) | ||||||
31,551 | 81.4 | 17,393 | 5.7 | |||||||
Operating profit | 14,105 | 277.5 | 3,736 | 23.1 | ||||||
Ordinary profit | 14,241 | 272.8 | 3,820 | 29.0 | ||||||
Net income (loss) attributable to owners of | 10,009 | 340.1 | 2,274 | 9.6 | ||||||
parent | ||||||||||
Net income per share (in yen) | 83.12 | 18.89 | ||||||||
Fully diluted net income per share (in yen) | - | - | ||||||||
(Note) Comprehensive income | 12,390 | 670.4 | 1,608 | 36.0 | ||||||
(2) Consolidated financial position | ||||||||||
As of Sep. 30, 2021 | As of Mar 31, 2021 | |||||||||
Total assets | (Millions of yen) | (Millions of yen) | ||||||||
104,777 | 89,750 | |||||||||
Net assets | 84,766 | 74,302 | ||||||||
Equity ratio (%) | 80.7 | 82.7 | ||||||||
Net assets per share (in yen) | 702.51 | 616.05 | ||||||||
(Reference) Equity | 84,592 | 74,181 | ||||||||
2. Dividends | ||||||||||
Annual dividends per share in yen | ||||||||||
Year ended | Year ended | Year ending | ||||||||
Mar. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2022 (Forecast) | ||||||||
First quarter end | - | - | ||||||||
Second quarter end | 0.00 | 0.00 | ||||||||
Third quarter end | - | - | ||||||||
Year end | 16.00 | 24.00 | ||||||||
Annual | 16.00 | 24.00 |
(Note) Revision of dividend payment forecast since the most recently announced payment forecast: Yes
The original disclosure in Japanese was released on November 9, 2021 at 15:00 (GMT+8)
3. Forecast for the year ending March 31, 2022 (Apr. 1, 2021 - Mar. 31, 2022)
(Percentages indicated changes from the same period of the previous fiscal year.)
Year ending Mar. 31, 2022 | ||
Net sales | (Millions of yen) | (%) |
59,300 | 28.7 | |
Operating profit | 20,000 | 43.3 |
Ordinary profit | 20,200 | 42.7 |
Net income attributable to owners of the parent | 14,100 | 47.7 |
Net income per share (in yen) | 117.09 |
[Note] Revision of financial forecast since the most recently announced payment forecast: Yes
- Others
-
Changes in subsidiaries during the six months ended September 30, 2021 (Changes in specified subsidiaries resulting in change of scope) : No Newly included: - (Name)
Excluded: - (Name) - Application of special accounting methods to the consolidated quarterly financial statements: No
- Changes in accounting policies, changes in accounting estimates, and retrospective restatement
- Changes based on revisions of accounting standard: Yes
- Changes in accounting policies other than 1): No
- Changes in accounting estimates: No
- Restatement: No
-
Changes in subsidiaries during the six months ended September 30, 2021 (Changes in specified subsidiaries resulting in change of scope) : No Newly included: - (Name)
NOTE: For details, please refer to "(4) Notes to Consolidated Quarterly Financial Statements (Changes in Accounting Policies)" of "2. Consolidated Quarterly Financial Statements and Primary Notes" on page 9 of the attached material.
- Number of outstanding shares (Common stock)
- Number of outstanding shares at year end (Treasury stocks are included)
As of September 30, 2021 | 120,415,600 | ||
As of March 31, | 2021 | 120,415,600 | |
2) | Number of treasury stocks at year end | - | |
As of September 30, 2021 | |||
As of March 31, 2021 | - | ||
3) | Average number of outstanding shares | 120,415,600 | |
As of September 30, 2021 | |||
As of September 30, 2020 | 120,415,600 |
- These quarterly financial statements are not subject to auditing.
-
Comment regarding appropriate use of earnings forecasts and other special notes
Forward-looking statements contained in this document are determined by the Takara Bio Company based on information currently available to the Company and include a number of uncertainties. Actual results could differ from these forecasts due to changes in conditions that occur in the future. For information regarding the above, please refer to "1. Qualitative Information for the six months ended September 30, 2021 (4) Qualitative Information Regarding Consolidated Forecasts", on page 2 of the attached document.
The original disclosure in Japanese was released on November 9, 2021 at 15:00 (GMT+8)
Contents of the attached document | |
1. Overview of Financial Results for the six months ended September 30, 2021…………………………………………….... | 2 |
(1) Overview of Financial Results……………………………………………………….………….………….…………..... | 2 |
(2) Overview of Financial Position………………………………………………...…………………………...……............. | 2 |
(3) Overview of Cash Flows…………………………………………………………….…………………………….……... | 2 |
(4) Qualitative Information Regarding Consolidated Forecasts..……………………………………………………………. | 2 |
2. Consolidated Quarterly Financial Statements and Primary Notes........................................................................................... | 4 |
(1) Consolidated Quarterly Balance Sheets……………………………………………………………………….................. | 4 |
(2) Consolidated Quarterly Statements of Profit or Loss and Consolidated Quarterly Statements of Comprehensive Income......... | 6 |
(Consolidated Quarterly Statements of Profit or Loss) | |
(For the six months Ended September 30, 2021)…………………………………………………………………...... | 6 |
(Consolidated Quarterly Statements of Comprehensive Income) | |
(For the six months Ended September 30, 2021)…………………………………………………………………….. | 7 |
(3) Consolidated Quarterly Statements of Cash Flows ………………………………………………………………………. | 8 |
(4) Notes to Consolidated Quarterly Financial Statements…………………………………………………………………... | 9 |
(Notes on Premise of Going Concern) …………………………………………………………………………………. | 9 |
(Notes in case of Changes in Marked Amount of Shareholders' Equity)………………………………………………. | 9 |
(Changes in Subsidiaries during the six months ended September 30, 2021) …………………………………………. | 9 |
(Changes in Accounting Policies) ………………………………………………..…………..…………..………….…. | 9 |
(Additional Information)………………………………………………..…………..…………..…………..…………... | 9 |
(Segment Information)……………………………………………………………………………..……………….…... | 9 |
(Significant Subsequent Events) ……………………………………………………………………………………….. | 9 |
3. Supplementary Information………………………………………………………………………………………………….. 11
- Trends in Key Indicators for Business Management…………………………………………………………………….. 11
- Comparative Consolidated Statement of Income ……………………………………………………………………….. 12
- Comparative Statement of Income Relating to Consolidated Financial Forecasts………………………………………. 13
- 1 -
The original disclosure in Japanese was released on November 9, 2021 at 15:00 (GMT+8)
1. Overview of Financial Results for the six months ended September 30, 2021
(1) Overview of Financial Results
The outlook for the global economy in the second quarter of the current fiscal year is uncertain due to the prolonged trade friction between the U.S. and China and the impact of the new Coronavirus disease (COVID-19).
Against these circumstances, Takara Bio (the Group) is promoting initiatives to advance the development of fundamental biologics development technologies and become a biologis development company that continuously creates new modalities through the Reagents and Instruments and CDMO business under the six-yearLong-Term Management Plan FY2026, which ends in fiscal 2026, and the three-yearMedium-Term Management Plan FY2023, which ends in fiscal 20231.
In the second quarter of the fiscal year under review, although sales of Gene Therapy decreased year on year, sales of Reagents, Instruments, and CDMO increased year on year. Especially in Reagents, in addition to PCR test-related products for the new Coronavirus, sales of reagents for general research, which are on a recovery trend, increased. Net sales increased to ¥31,551 million (up 81.4% year on year). Cost of sales increased to ¥8,056 million (up 44.7% year on year) due to an improvement in the cost of sales ratio in CDMO, and gross profit increased to ¥23,495 million (up 98.6% year on year). Selling, general and administrative (SG&A) expenses were ¥9,389 million (up 16.1% year on year), mainly due to an increase in personnel expenses and R&D expenses. Operating income was ¥14,105 million (up 277.5% year on year).
As a result of the increase in operating income, ordinary income increased to ¥14,241 million (up 272.8% year on year), income before income taxes and others increased to ¥14,203 million (up 332.8% year on year), and net income attributable to owners of the parent increased to ¥10,009 million (up 340.1% year on year).
Since our group is a single segment, the disclosure by segment is omitted.
(2) Overview of Financial Position
Total assets at the end of the second quarter under review were ¥104,777 million, an increase of ¥15,027 million from the end of the previous fiscal year. This was mainly due to an increase of ¥6,596 million in cash and deposits and an increase of ¥5,702 million in property, plant and equipment resulting from interior finishing work for a new office building of Takara Bio USA, Inc. and our acquisition of manufacturing facilities.
Total liabilities at the end of the second quarter under review were ¥20,011 million, an increase of ¥4,563 million from the end of the previous fiscal year. This was mainly due to an increase of ¥4,345 million in other current liabilities.
Total net assets at the end of the second quarter under review were ¥84,766 million, an increase of ¥10,464 million from the end of the previous fiscal year. This was mainly due to an increase of ¥8,082 million in retained earnings and an increase of ¥2,304 million in foreign currency translation adjustments due to the yen's depreciation.
(3) Overview of Cash Flows
Net cash provided by operating activities amounted to ¥9,914 million, an increase of ¥4,360 million from the same period of the previous fiscal year. This was mainly due to attributable to income before income taxes and others of ¥14,203 million, cash inflow from depreciation and amortization of ¥1,670 million, income taxes paid of ¥3,854 million, and cash outflow from an increase in inventories of ¥1,076 million.
Net cash used in investing activities amounted to ¥10,686 million, an increase of ¥8,268 million from the same period of the previous fiscal year. This was mainly due to payments into time deposits of ¥10,340 million, purchase of tangible and intangible fixed assets of ¥5,367 million, and proceeds from subsidies received of ¥3,349 million and withdrawal of time deposits of ¥1,702 million.
Net cash used in financing activities amounted to ¥1,992 million, an increase of ¥962 million from the same period of the previous fiscal year, mainly due to cash dividends paid of ¥1,922 million.
As a result of the above, the balance of cash and cash equivalents at the end of the second quarter of the current fiscal year, including the effect of exchange rate changes on cash and cash equivalents, decreased by ¥2,195 million from the end of the previous fiscal year to ¥21,113 million.
(4) Qualitative Information Regarding Consolidated Forecasts
The financial forecast and dividend forecast announced in the first quarter financial results report on August 3, 2021 have been
1 FY2026 and FY2023 refer to the fiscal year ending March 2026 and 2023, respectively.
- 2 -
The original disclosure in Japanese was released on November 9, 2021 at 15:00 (GMT+8)
revised. For details, please refer to "Notice of Revision of Financial Forecast and Dividend Forecast (Dividend Increase)" announced today (November 9, 2021).
For comparison of the revised consolidated financial forecasts with the previous fiscal year's results and the previous financial forecasts, please refer to the "Comparative Statement of Income Relating to Consolidated Financial Forecasts" on page 13.
- 3 -
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original document
- Permalink
Disclaimer
Takara Bio Inc. published this content on 09 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2021 06:12:12 UTC.