Takeda Pharmaceutical Co. Ltd. · TSE:4502
Takeda Pharmaceutical — FY2024 Earnings Presentation
71 slides from Takeda Pharmaceutical's earnings presentation, May 8, 2025
Slide 1: Committed to Growth & Shareholder Returns
TSE: 4502 Committed to Growth & Shareholder Returns FY2024 Earnings Announcement May 8th, 2025
Slide 2: Important Notice
Important Notice For the purposes of this notice, “presentation” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this presentation. This presentation (i
Slide 3: Agenda
Opening Remarks & Business Highlights Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Closing Remarks Christophe Weber, President & CEO Q&A Question & Answer Session
Slide 4: FY2024: Topline Growth & Margin Expansion Despite VYVANSE Generic Impact
FY2024: Topline Growth & Margin Expansion Despite VYVANSE Generic Impact, with Accelerated Progress in our Late-Stage Innovative Pipeline • Growth & Launch Products more than offset VYVANSE generic erosion to deliver Core Revenue growth • Steady execution of Efficiency Program to deliver Core Operat
Slide 5: Strong Momentum of Growth & Launch Products +14.7% at CER
Strong Momentum of Growth & Launch Products +14.7% at CER Balanced Portfolio Across 6 Key Business Areas PLASMA-DERIVED GI RARE DISEASES THERAPIES (PDT) ONCOLOGY VACCINES NEUROSCIENCE % of Sales: 30% % of Sales: 16% % of Sales: 23% % of Sales: 12% % of Sales: 1% % of Sales: 12% Growth at CER: +7% Gr
Slide 6: Takeda's Global Manufacturing is Centered in U.S., Europe, Japan & Singapore
Takeda’s Global Manufacturing is Centered in U.S., Europe, Japan & Singapore • Tariff exposure is determined by revenue contribution of imports, manufacturing location / country of origin, and transfer pricing policy. • Based on current assumptions, Takeda believes our likely potential exposure to U
Slide 7: FY2025 a Pivotal Year as we Prepare for Late-Stage Pipeline Launches
FY2025 a Pivotal Year as we Prepare for Late-Stage Pipeline Launches Rusfertide (TAK-121) Oveporexton (TAK-861) Zasocitinib (TAK-279) Polycythemia Vera Narcolepsy Type 1 Psoriasis Delivering rapid, consistent & sustained On track to be first-in-class orexin Highly selective TYK2 inhibitor with hemat
Slide 8: FY2025 Outlook: Final Year of Significant VYVANSE Generic Headwind
FY2025 Outlook: Final Year of Significant VYVANSE Generic Headwind; Preparing for New Product Launches from Late-Stage Pipeline (BN YEN, except EPS) REPORTED CORE CORE CHANGE AT CER FY2025 FORECAST FY2025 FORECAST FY2025 MANAGEMENT GUIDANCE REVENUE 4,530.0 4,530.0 Broadly Flat OPERATING PROFIT 475.0
Slide 9: Agenda
Opening Remarks & Business Highlights Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Closing Remarks Christophe Weber, President & CEO Question & Answer Session
Slide 10: FY2024 Results: Topline Growth & Strong Cash Flow Generation
FY2024 Results: Topline Growth & Strong Cash Flow Generation FY2024 (APR -MAR) FINANCIAL RESULTS (SUMMARY) 1 (BN YEN, except EPS) REPORTED CORE ACTUAL % ACTUAL % CER2 % CHANGE FY2024 FY2023 CHANGE FY2024 FY2023 CHANGE REVENUE 4,581.6 4,263.8 +7.5% 4,579.8 4,263.8 +7.4% +2.8% OPERATING PROFIT 342.6 2
Slide 11: FY2024 Results: Delivered Guidance for Revenue & Core O.P. Growth
FY2024 Results: Delivered Guidance for Revenue & Core O.P. Growth MANAGEMENT GUIDANCE FOR FY2024 CORE GROWTH AT CER ORIGINAL GUIDANCE LATEST GUIDANCE FY2024 [MAY 2024] [JANUARY 2025] RESULTS CORE REVENUE Flat to slightly declining Low-single digit % increase +2.8% CORE OPERATING PROFIT Approx 10% de
Slide 12: Efficiency Program Captured ~JPY 200.0B Annualized Savings to Date
Efficiency Program Captured ~JPY 200.0B Annualized Savings to Date • Structural changes impacting approximately Restructuring Costs Annualized Savings 3,000 positions to date JPY 128.1B ~JPY 200.0B Organizational • Optimizing org agility including spans & layers booked in FY24 captured to date Agili
Slide 13: FY2024 Revenue: Growth & Launch Products More Than Offset LOE Impact
FY2024 Revenue: Growth & Launch Products More Than Offset Loss of Exclusivity Impact Including VYVANSE FY2024 REVENUE VS PRIOR YEAR (BN JPY) +7.5% 4,579.8 4,581.6 +2.8% at CER 1.7 Recognition of 195.0 deferred revenue related to divestiture of Takeda Teva JV 4,263.8 Includes VYVANSE, AZILVA & ADDERA
Slide 14: FY2024 Core Operating Profit: Growth & Launch Products More Than Offset LOE Impact
FY2024 Core Operating Profit: Growth & Launch Products More Than Offset LOE Impact, with OPEX Benefitting from Efficiency Program FY2024 CORE OPERATING PROFIT VS PRIOR YEAR (BN JPY) +10.2% +4.9% at CER 1,162.6 56.1 1,054.9 Gross Profit Impact Overall reduction in OPEX FY2023 Growth & Launch LOE impa
Slide 15: FY2024 Reported Operating Profit: Increase Reflects Growth in Core Operating Profit
FY2024 Reported Operating Profit: Increase Reflects Growth in Core Operating Profit and Lower Impairment Compared to Prior Year FY2024 REPORTED OPERATING PROFIT VS PRIOR YEAR (BN JPY) +60.0% 342.6 18.9 Lower litigation expense, favorable pre-launch inventory and other items partially offset by highe
Slide 16: FY2024 Adj. Free Cash Flow: Strong Result of JPY 769.0B
FY2024 Adj. Free Cash Flow: Strong Result of JPY 769.0B Exceeding Forecast FY2024 CASH FLOW (BN JPY) Adjusted Free Cash Flow 769.0 57.6 Total liquidity of JPY 1.1T (USD 7.1B)1 200.8 including JPY 700B from undrawn committed line of credit, 147.0 Level 1 debt investment, 2.1 2.1 27.5 and excluding pa
Slide 17: Leverage Ratio Improved by 0.3x in FY2024
Leverage Ratio Improved by 0.3x in FY2024 FY2024 CHANGE IN ADJUSTED NET DEBT (BN JPY) Adjusted Free Cash Flow 769.0 4,091.3 3,975.5 203.5 95.3 51.9 1,057.2 302.5 2.1 147.0 200.8 57.6 2024 Operating Divestments Tangible Intangible Pass-through Dividend Share Net Interest Other3 2025 March 31st Cash f
Slide 18: Prepaid Syndicated Loans in Q4; Maturity Ladder
Prepaid Syndicated Loans in Q4 with Cash On-hand & Short-term Funding; Short-term Funding to be Re-financed in FY2025 MATURITY LADDER AS OF MARCH 31, 2025 800 To be re-financed with Leverage Neutral Debt in FY25 600 PAID IN CP/ SHORT TERM LOAN BILLION JPY Q4 HYBRID BONDS1 REFINANCED 400 PAID HYBRID
Slide 19: FY2025 Outlook: Final Year of Significant VYVANSE Generic Headwind
FY2025 Outlook: Final Year of Significant VYVANSE Generic Headwind; Preparing for New Product Launches from Late-Stage Pipeline (BN YEN, except EPS) REPORTED CORE CORE CHANGE AT CER FY2025 FORECAST VS. PRIOR YEAR FY2025 FORECAST VS. PRIOR YEAR FY2025 MANAGEMENT GUIDANCE REVENUE 4,530.0 -1.1% 4,530.0
Slide 20: Core Revenue Expected to be Broadly Flat at CER
Core Revenue Expected to be Broadly Flat at CER, with Growth & Launch Products Momentum Offsetting Carry-over of VYVANSE Generic Impact FY2025 REVENUE FORECAST (BN JPY) -1.1% Broadly Flat at CER 4,581.6 4,579.8 1.7 Includes VYVANSE, 4,530.0 ADDERALL XR, MOTEGRITY Includes ~JPY 130.0B headwind from M
Slide 21: Core O.P. Expected to be Broadly Flat at CER
Core O.P. Expected to be Broadly Flat at CER, with Efficiency Program Savings, & Investments in R&D, DD&T, and Launch Preparation for Late-stage Pipeline FY2025 CORE OPERATING PROFIT FORECAST (BN JPY) -1.9% Broadly Flat at CER 1,162.6 1,140.0 Launch investment for rusfertide, oveporexton, and zasoci
Slide 22: Reported Operating Profit Forecast Reflects Lower Restructuring Expenses
Reported Operating Profit Forecast Reflects Lower Restructuring Expenses and Conclusion of VYVANSE Amortization in January 2026 FY2025 REPORTED OPERATING PROFIT FORECAST (BN JPY) +38.7% 475.0 Primarily reflects lower restructuring expenses 342.6 expected in FY25 Includes conclusion of VYVANSE amorti
Slide 23: Committed to Growth & Shareholder Returns
Committed to Growth & Shareholder Returns Guided by our vision to discover and deliver life-transforming treatments, and supported by our balance sheet (maintaining solid investment grade credit ratings; targeting 2x adjusted net debt / adjusted EBITDA), we will allocate capital to deliver sustainab
Slide 24: Agenda
Opening Remarks & Business Highlights Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Closing Remarks Christophe Weber, President & CEO Question & Answer Session
Slide 25: Key FY24 Pipeline Achievements: Advancing Late-Stage Pipeline
Key FY24 Pipeline Achievements: Advancing Late-Stage Pipeline KEY REGULATORY APPROVALS MAJOR GLOBAL NME MILESTONES zasocitinib zasocitinib Psoriasis Psoriatic Arthritis Phase 3 Pivotal Studies Complete Enrollment Phase 3 Start U.S. Crohn’s EU mCRC (Sub-Cutaneous) Japan mCRC oveporexton TAK-360 NT1 (
Slide 26: FY25 is a Pivotal Year with Three Anticipated Phase 3 Data Readouts
FY25 is a Pivotal Year with Three Anticipated Phase 3 Data Readouts Rusfertide Oveporexton Zasocitinib VERIFY Study The First Light Study Polycythemia Vera The Radiant Light Study ASCO Plenary Session 2025 Narcolepsy Type 1 H1 FY25 Positive Phase 3 Data Phase 3 Readout LATITUDE-PsO-3004 Narcolepsy T
Slide 27: ASCO Plenary Session: Rusfertide VERIFY Study Met Primary and Key Secondary Endpoints
ASCO Plenary Session: Rusfertide Phase 3 VERIFY Study Met Primary and All Four Key Secondary Endpoints in Phlebotomy-Dependent Patients with Polycythemia Vera (PV) Rusfertide Phase 3 key data Rusfertide addresses key unmet needs in PV Primary Endpoint 100 % Clinical responders* wks 20-32 • Uncontrol
Slide 28: Data Driven Decisions FY24: Continuing Focus on Most Promising Programs
Data Driven Decisions FY24: Continuing Focus on Most Promising Programs New to Phase 1 New to Phase 2 New to Phase 3 TAK-004 TAK-360 TAK-360 zasocitinib oveporexton Nausea & Vomiting IH NT21 Psoriatic arthritis NT1 zasocitinib elritercept mezagitamab mezagitamab Ulcerative Colitis AA MF ITP IgAN2 mi
Slide 29: Accelerating the Development of Life Transforming Medicines
Accelerating the Development of Life Transforming Medicines which have the Potential to Generate Significant Value FY25 FY26 FY27 - 29 Psoriasis Psoriasis Head-to-Head vs. deucravacitinib Start Target Filing Psoriatic Arthritis Target Filing zasocitinib (TAK-279) Crohn’s UC Ph2b Readout Ph2b Readout
Slide 30: Agenda
Opening Remarks & Business Highlights Christophe Weber, President & CEO Financial Highlights Milano Furuta, Chief Financial Officer AGENDA Pipeline Update Andy Plump, President, R&D Closing Remarks Christophe Weber, President & CEO Question & Answer Session
Slide 31: Foundations in Place to Support New Chapter of Growth for Takeda
Foundations in Place to Support New Chapter of Growth for Takeda Topline Growth Robust Late-stage Operational Commitment to Outlook Pipeline Efficiency Shareholder Returns • Continued momentum of • Accelerating late-stage • Capturing efficiencies across • Strong cashflow outlook Growth & Launch Prod
Slide 32: Better Health for People, Brighter Future for the World
Better Health for People, Brighter Future for the World Our vision is to discover and deliver life-transforming treatments, guided by our commitment to: We are guided by our values of Takeda-ism which incorporate Integrity, Fairness, Honesty, and PATIENT PEOPLE PLANET • Responsibly translate • Accel
Slide 33: Q&A Session
Q&A SESSION C H R I ST O P H E W E B E R AND Y P L U M P M I L A N O FU R U T A Representative Director; Director; President, Director; President & CEO Research & Development Chief Financial Officer JULIE KIM G I L E S P L A T FO R D T E R E SA B I T E T T I President, President, Plasma-Derived Pres
Slide 34: Appendix
APPENDIX
Slide 35: ENTYVIO Growth Momentum Building with Expansion of ENTYVIO PEN
G A ST RO E N TE RO LO GY (G I) ENTYVIO Growth Momentum Building with Expansion of ENTYVIO PEN GI PORTFOLIO FY2024 Revenue JPY 914.1B (+8.5% growth) FY 2 0 2 4 R E V E N U E • ENTYVIO maintains share leadership even as IBD treatment options increase (BN JPY) • In the U.S., ENTYVIO remains the #1 bra
Slide 36: Sustained TAKHZYRO Momentum; LIVTENCITY Strong Market Penetration
R A R E D ISE A SES Sustained TAKHZYRO Momentum with Double-Digit Growth and >6,000 patients treated; LIVTENCITY Strong Market Penetration in the U.S. & Rapid Geo Expansion RARE DISEASES PORTFOLIO FY2024 Revenue JPY 223.2B (+18.9% growth) FY 2 0 2 4 R E V E N U E • 7 years in the market, TAKHZYRO co
Slide 37: PDT Portfolio Continues to Deliver Outstanding Growth
PLA SMA - D ERIVED T H ER A PIES PDT Portfolio Continues to Deliver Outstanding Growth Fueled By Sales of Immunoglobulin Products PDT PORTFOLIO Immunoglobulin Albumin FY 2 0 2 4 R E V E N U E FY24 Revenue JPY 757.8B (+11.5% growth) FY24 Revenue JPY 141.4B (+1.1% growth) (BN JPY) • Strong demand glob
Slide 38: Steady Growth Across Key Brands in Oncology Marketed Portfolio
O N C O LO G Y Steady Growth Across Key Brands in Oncology Marketed Portfolio ONCOLOGY PORTFOLIO FY 2 0 2 4 R E V E N U E FY2024 Revenue JPY 48.0B (+351% growth) (BN JPY) • Approved or launched in more than 20 countries in FY24; growth driven by strong uptake in the U.S. • Reimbursement received in
Slide 39: QDENGA Demand Continues to Exceed Expectations
V A C C IN E S QDENGA Demand Continues to Exceed Expectations VACCINES PORTFOLIO FY 2 0 2 4 R E V E N U E FY2024 Revenue JPY 35.6B (+259% growth) (BN JPY) • Strong global demand: now available in 29 countries, including 19 European countries with travel recommendations to support use of QDENGA to he
Slide 40: VYVANSE U.S. Loss of Exclusivity Impact from August 2023
N E UR O SC IE N CE VYVANSE U.S. Loss of Exclusivity Impact from August 2023 NEUROSCIENCE PORTFOLIO FY2024 Revenue JPY 350.6B (-21.6% change) FY 2 0 2 4 R E V E N U E (BN JPY) VYVANSE U.S. Weekly Volume (million units)2 • U.S. revenue declined -29.2% at CER in FY2024, impacted by Loss of Exclusivity
Slide 41: Maximizing Potential of Marketed Portfolio Through LCM Expansions
Maximizing Potential of Marketed Portfolio Through LCM Expansions FY24 FY25 FY26 LIVMARLI (maralixibat) ENTYVIO IV Approved ALGS, PFIC (Japan) Target Filing Crohn’s/UC Peds (US, EU) GASTROINTESTINAL AND INFLAMMATION ADZYNMA ADZYNMA ADZYNMA Approved cTTP (EU); Filed cTTP (China) iTTP Proof-of-concept
Slide 42: FY24 Report Card for NME Approvals and Indication Expansions
FY24 Report Card for NME Approvals and Indication Expansions ENTYVIO SC Crohn’s disease U.S. approval QDENGA Dengue vaccine Additional endemic countries1 ADZYNMA cTTP EU approval KEY POTENTIAL EU approval FRUZAQLA mCRC REGULATORY JP approval APPROVALS LIVTENCITY Refractory post-transplant CMV infect
Slide 43: Preparing for an Exciting FY25: Potential Key Phase 3 NME Readouts
Preparing for an Exciting FY25: Potential Key Phase 3 NME Readouts and Indication Expansions oveporexton Narcolepsy type 1 Phase 3 readout KEY PIVOTAL zasocitinib Psoriasis Phase 3 readout READOUTS mirvetuximab Platinum resistant ovarian cancer Pivotal readout1 ADCETRIS Frontline Hodgkin lymphoma (B
Slide 44: Consolidated Development Pipeline by Phase
Consolidated Development Pipeline by Phase PHASE 1 (2 NMEs) PHASE 2 (8 NMEs + 2 LCM) GASTROINTESTINAL TAK-004 zasocitinib zasocitinib TAK-101 TAK-227 ADZYNMA® Nausea & Vomiting Crohn’s Disease Ulcerative Colitis Celiac Disease Celiac Disease iTTP AND INFLAMMATION danavorexton TAK-341 TAK-594 NEUROSC
Slide 45: Consolidated Development Pipeline by Phase
Consolidated Development Pipeline by Phase PHASE 3 (6 NMEs + 11 LCMs) FILED (16 LCMs) zasocitinib zasocitinib mezagitamab mezagitamab ADZYNMA® maralixibat maralixibat Psoriasis Psoriatic Arthritis ITP IgAN1 cTTP (EU) ALGS (JP) PFIC (JP) GASTROINTESTINAL AND INFLAMMATION fazirsiran ENTYVIO® IV ENTYVI
Slide 46: Zasocitinib (TAK-279): Best-in-class potential due to high selectivity
Zasocitinib (TAK-279): Best-in-class potential due to high selectivity, once daily oral administration PHASE 2b START PHASE 2b READOUT PHASE 3 FILING Ph2b March 2023 Ph3 Start FY2023 Target FY2026 Psoriasis H2H vs. deucravacitinib Start FY2025 Psoriatic Arthritis Ph2b September 2023 Ph3 Start FY2024
Slide 47: Continuing Evidence Generation and Indication Expansion
Continuing Evidence Generation and Indication Expansion PHASE 3 PHASE 3b / 4 PUBLISHED APPROVED ENTYVIO® IV ENTYVIO® IV (VERDICT) ENTYVIO® IV (VARSITY) ENTYVIO® IV Pediatric (Global) (Global)3,4 ENT vs. ada1 (Global) Ulcerative colitis ENTYVIO® SC ENTYVIO® IV (EXIGEM) ENTYVIO® SC Pediatric (Global)
Slide 48: Diverse and Experienced Takeda Executive Team
Diverse and Experienced Takeda Executive Team CEO Business Units Business Functions Business Partner C H R I ST O P H E W E B E R 1 JULIE KIM AND Y P L U M P G AB R I E L E R I C C I M I L ANO FU R U T A L AU R E N D U P R E Y Representative Director; President, Director; President, Chief Data & Dir
Slide 49: Glossary of Abbreviations
Glossary of Abbreviations Regional Abbreviations: CN: China; EU: Europe; JP: Japan; U.S.: United States of America AA anemia-associated GI gastrointestinal NMPA (China’s) National Medical Products Administration AATD α1-antitrypsin deficiency GvHD graft versus host disease NT1 or 2 narcolepsy type 1
Slide 50: Financial Appendix
Exhibit 99.1 FINANCIAL APPENDIX Definition of Non-IFRS Measures Definition and Explanation of Non-IFRS Measures and U.S. Dollar Convenience Translations A-1 Reconciliations and Other Financial Information FY2024 Reported Results with CER % Change A-4 FY2024 Q4 (Jan-Mar) Reported Results with CER % C
Slide 51: Definition and Explanation of Non-IFRS Measures
Definition and Explanation of Non-IFRS Measures and U.S. Dollar Convenience Translations Core Financial Measures Takeda’s Core Financial Measures, particularly Core Revenue, Core Operating Profit, Core Net Profit for the Year attributable to owners of the Company and Core EPS, exclude revenue from d
Slide 52: Free Cash Flow and Adjusted Free Cash Flow
Free Cash Flow and Adjusted Free Cash Flow Takeda defines Free Cash Flow as cash flows from operating activities less acquisition of property, plant and equipment (“PP&E”). Takeda defines Adjusted Free Cash Flow as cash flows from operating activities, subtracting payments for acquisition of PP&E, i
Slide 53: Net Debt and Adjusted Net Debt
Net Debt and Adjusted Net Debt Takeda defines Net Debt as the book value of bonds and loans on consolidated statements of financial position adjusted only for cash and cash equivalents, and Adjusted Net Debt first by calculating the sum of the current and non-current portions of bonds and loans as s
Slide 54: FY2024 Reported Results with CER % Change
FY2024 Reported Results with CER % Change vs. PY (Million USD, except EPS) (Billion JPY, except EPS) FY2023 FY2024 AER CER FY2024 Convenience Amount of Change % CHANGE % CHANGE USD Translation Revenue 4,263.8 4,581.6 317.8 7.5% 2.9% 30,564 Cost of sales (1,426.7) (1,580.2) (153.5) (10.8)% (6.5)% (10
Slide 55: FY2024 Q4 Reported Results with CER % Change
FY2024 Q4 (Jan-Mar) Reported Results with CER % Change vs. PY (Million USD, except EPS) FY2023 Q4 FY2024 Q4 AER CER (Billion JPY, except EPS) FY2024 Q4 (Jan-Mar) (Jan-Mar) (Jan-Mar) Convenience Amount of Change % CHANGE % CHANGE USD Translation Revenue 1,050.9 1,053.4 2.5 0.2% (2.0)% 7,027 Cost of s
Slide 56: FY2024 Core Results with CER % Change
FY2024 Core Results with CER % Change vs. PY (Million USD, except EPS) (Billion JPY, except EPS) FY2023 FY2024 AER CER FY2024 Convenience Amount of Change % CHANGE % CHANGE USD Translation Revenue 4,263.8 4,579.8 316.1 7.4% 2.8% 30,553 Cost of sales (1,426.3) (1,581.8) (155.5) (10.9)% (6.6)% (10,552
Slide 57: FY2024 Q4 Core Results with CER % Change
FY2024 Q4 (Jan-Mar) Core Results with CER % Change vs. PY (Million USD, except EPS) FY2023 Q4 FY2024 Q4 AER CER (Billion JPY, except EPS) FY2024 Q4 (Jan-Mar) (Jan-Mar) (Jan-Mar) Convenience Amount of Change % CHANGE % CHANGE USD Translation Revenue 1,050.9 1,051.7 0.8 0.1% (2.1)% 7,016 Cost of sales
Slide 58: FY2024 Reconciliation from Reported to Core
FY2024 Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY, except EPS and number of shares) REPORTED Amortization of Impairment of Other CORE Teva JV related intangible intangible operating income/ Others adjustment assets assets expenses Revenue 4,581.6 (1.7) 4,579.8 Cos
Slide 59: FY2024 Q4 Reconciliation from Reported to Core
FY2024 Q4 (Jan-Mar) Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY, except EPS and number of shares) REPORTED Amortization of Impairment of Other CORE Teva JV related intangible intangible operating income/ Others adjustment assets assets expenses Revenue 1,053.4 (1.7
Slide 60: FY2023 Reconciliation from Reported to Core
FY2023 Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY, except EPS and number of shares) REPORTED Amortization of Impairment of Other CORE intangible intangible operating income/ Others assets assets expenses Revenue 4,263.8 4,263.8 Cost of sales (1,426.7) 0.4 (1,426.3
Slide 61: FY2023 Q4 Reconciliation from Reported to Core
FY2023 Q4 (Jan-Mar) Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY, except EPS and number of shares) REPORTED Amortization of Impairment of Other CORE intangible intangible operating income/ Others assets assets expenses Revenue 1,050.9 1,050.9 Cost of sales (382.5) 0
Slide 62: FY2024 Adjusted Free Cash Flow
FY2024 Adjusted Free Cash Flow (Million USD) (Billion JPY) FY2023 FY2024 vs. PY FY2024 Convenience USD Translation Net profit 144.2 108.1 (36.1) (25.0)% 721 Depreciation, amortization and impairment losses 878.0 867.9 (10.1) 5,790 Decrease (increase) in trade working capital (110.5) (101.0) 9.5 (674
Slide 63: FY2024 Adjusted Net Debt to Adjusted EBITDA
FY2024 Adjusted Net Debt to Adjusted EBITDA NET DEBT/ADJUSTED EBITDA RATIO NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (Billion JPY) FY2024 (Billion JPY) FY2023 FY2024 vs. PY Book value of bonds and loans on consolidated statements of Net cash from operating activities (Operating Cash Flow)
Slide 64: FY2023 Adjusted Net Debt to Adjusted EBITDA
FY2023 Adjusted Net Debt to Adjusted EBITDA NET DEBT/ADJUSTED EBITDA RATIO NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (Billion JPY) FY2023 (Billion JPY) FY2022 FY2023 vs. PY Book value of bonds and loans on consolidated statements of Net cash from operating activities (Operating Cash Flow)
Slide 65: FY2024 Net Profit to Adjusted EBITDA Bridge
FY2024 Net Profit to Adjusted EBITDA Bridge (Billion JPY) FY2023 FY2024 vs. PY Net profit 144.2 108.1 (36.1) (25.0)% Income tax expenses (benefit) (91.4) 66.9 Depreciation and amortization 728.0 761.4 Interest expense, net 108.2 117.7 EBITDA 889.0 1,054.2 165.1 18.6 % Impairment losses 150.0 106.5 O
Slide 66: FY2024 CAPEX, Depreciation and Amortization and Impairment Losses
FY2024 CAPEX, Depreciation and Amortization and Impairment Losses (Billion JPY) FY2023 FY2024 vs. PY FY2025 Forecast Capital expenditures*1 480.7 347.8 (132.9) (27.6)% 270.0 - 320.0 Tangible assets 175.4 200.8 25.4 14.5 % Intangible assets 305.3 147.0 (158.3) (51.8)% Depreciation and amortization 72
Slide 67: FY2024 Actual vs. Forecast (Jan. 2025)
FY2024 Actual vs. Forecast (Jan. 2025) FY2024 Forecast FY2024 (BN JPY) Actual vs. Forecast Variances (January 30, 2025) Revenue 4,590.0 4,581.6 (8.4) (0.2)% Mainly FX headwind Cost of sales (1,585.0) (1,580.2) 4.8 0.3% Mainly FX benefit Gross Profit 3,005.0 3,001.3 (3.7) (0.1)% SG&A expenses (1,115.
Slide 68: FY2025 Full Year Detailed Forecast
FY2025 Full Year Detailed Forecast FY2024 FY2025 Forecast (BN JPY) (May 8, 2025) vs. PY Variances Actual LOE impact (mainly VYVANSE), pricing and FX headwinds, partially offset by Growth & Revenue 4,581.6 4,530.0 (51.6) (1.1)% Launch Products Cost of sales (1,580.2) (1,540.0) 40.2 2.5% Less impact f
Slide 69: FY2025 Reconciliation from Reported Operating Profit to Core Operating Profit Forecast
FY2025 Full Year Reconciliation from Reported Operating Profit to Core Operating Profit Forecast REPORTED TO CORE ADJUSTMENTS (Billion JPY) REPORTED Amortization of Impairment of CORE Other operating intangible intangible income (expenses) assets assets Revenue 4,530.0 4,530.0 Cost of sales (1,540.0
Slide 70: FY2025 Full Year FX Rates Assumptions and Currency Sensitivity
FY2025 Full Year FX Rates Assumptions and Currency Sensitivity vs. Forecast Average Exchange Rates vs. JPY Impact of depreciation of yen from April 2025 to March 2026 (100 million JPY) Core FY2023 FY2024 FY2025 Full Year Operating Revenue Net Profit Operating Actual Actual Assumption Profit (IFRS) (
Slide 71: Takeda Investor Relations
Takeda Investor Relations: takeda.ir.contact@takeda.com © 2025 Takeda Pharmaceutical Company Limited. All rights reserved.
Takeda Pharmaceutical Company — FY2024 Earnings Presentation on 6ix