Takeda Pharmaceutical Co. Ltd. · TSE:4502
Takeda Pharmaceutical — Q4 2022 Earnings Presentation
64 slides from Takeda Pharmaceutical's earnings presentation, May 11, 2022
Slide 1: Committed to Growth & Shareholder Returns
TSE: 4502 Committed to Growth & Shareholder Returns FY2022 Earnings Announcement May 11th, 2023
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
Introduction Christophe Weber President & CEO Pipeline Update Andy Plump President, R&D AGENDA Financials Costa Saroukos Chief Financial Officer Q&A Session
Slide 4: 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 Perseverance, with Integrity at
Slide 5: FY2022 Business Highlights: Executing Strategy & Delivering Results
FY2022 Business Highlights: Executing Strategy & Delivering Results Delivered or Exceeded Management Guidance Advances in Innovative Pipeline Build Driven by Growth & Launch Products Confidence in Long-Term Growth Profile • Core Revenue growth +3.5% at CER1,2 • First approvals for dengue vaccine QDE
Slide 6: FY2023 Outlook: Dividend Increase Reflects Deleveraging Progress
FY2023 Outlook: Dividend Increase Reflects Deleveraging Progress & Underscores Confidence in Future Growth Profile Growth & Launch Product Momentum Expected Anticipated Pipeline Milestones Including to Largely Offset LOE Impact on Revenue Significant Lifecycle Extensions • Core Revenue expected to d
Slide 7: Committed to Growth & Shareholder Returns
Committed to Growth & Shareholder Returns Near-term Medium-term Long-term (FY2024-2025) (FY2026 - early 2030s) (FY2030s and beyond) Return to sales, profit & margin growth Continued expansion of Growth & Launch Products Further launches from innovative late-stage pipeline Limited Loss of Exclusivity
Slide 8: Agenda
Introduction Christophe Weber President & CEO Pipeline Update Andy Plump President, R&D AGENDA Financials Costa Saroukos Chief Financial Officer Q&A Session
Slide 9: Continued Forward Momentum In FY2022
Continued Forward Momentum In FY2022 ENTYVIO SC • Filed for Ulcerative Colitis (UC) in the U.S.; Approved for UC in Japan TAKHZYRO • Approved for HAE patients 2 years and older in the U.S.; Filed for Pediatric expansion in EU GROWTH & LAUNCH LIVTENCITY • After review with regulatory bodies, will not
Slide 10: Driven By Disciplined Decision Making And Pipeline Prioritization
…Driven By Disciplined Decision Making And Pipeline Prioritization Pipeline Changes In FY221 New To Phase 1 New To Phase 2 New To Phase 3 New Regulatory Filings TAK-647 TAK-920 TAK-227 TAK-279 fazirsiran maralixibat ENTYVIO® ENTYVIO® VOCINTI® ADCETRIS® NASH2 Alzheimer’s Disease Celiac Disease Psoria
Slide 11: Promising Late-stage Development Programs With Upcoming Inflections
Promising Late-stage Development Programs With Upcoming Inflections FY22 FY23 FY24 FY25-27 Psoriasis Psoriatic Arthritis Psoriasis Psoriatic Arthritis Psoriasis Ph2 Readout Ph2b Readout Ph3 Start Ph3 Start Target Filling TAK-279 GASTROINTESTINAL Crohn’s Disease, Ulcerative Colitis, SLE, Others AND I
Slide 12: TAK-279: Phase 2B Indicates Potential For Best-in-class Oral Psoriasis Treatment
TAK-279: Phase 2B Indicates Potential For Best-in-class Oral Treatment Option For Psoriasis Patients achieving PASI 75, 90 or 100 at Week 121 Summary 100% • Robust efficacy: 33% of patients on 30mg 90% PASI 75 PASI 90 PASI 100 % patients achieving PASI scores achieving clear skin at 12 weeks (PASI 1
Slide 13: Data-driven Decisions Will Further Inform Mid-stage Pipeline Development
Data-driven Decisions Will Further Inform Mid-stage Pipeline Development FY22 FY23 FY24 Comments GASTROINTESTINAL Recent addition with strong data in TAK-227 Celiac disease gluten challenge model.1 AND INFLAMMATION Narcolepsy Narcolepsy Advanced to Ph2b after meeting pre- TAK-861 Ph2b started (NT1 a
Slide 14: Important Near-Term LCM Expansions Represent Significant Growth Opportunities
Important Near-Term LCM Expansions Represent Significant Growth Opportunities FY22 FY23 FY24 ENTYVIO ENTYVIO maralixibat Filed SC UC (US)1 Target Filing SC CD (US) Target Filing ALGS, PFIC (Japan) GASTROINTESTINAL AND INFLAMMATION ENTYVIO ALOFISEL Filed SC CD (Japan) Target Filing Perianal Fistulas
Slide 15: Agenda
Introduction Christophe Weber President & CEO Pipeline Update Andy Plump AGENDA President, R&D Financials Costa Saroukos Chief Financial Officer Q&A Session
Slide 16: Excellent FY22 Results with Record Core OP; Raising Dividend in FY23
Excellent FY22 Results with Record Core OP of 1.19trn; Raising Dividend in FY23 FY2022 (APR-MAR) • Core Revenue JPY 4,027.5B (USD 30.3B)1,2 grew +3.5% at CER3 driven by Growth & Launch Products +19% TOPLINE • Reported Revenue grew +12.8% as FX and business momentum more than offset sale of diabetes
Slide 17: FY2022: Delivered or Exceeded Management Guidance for Growth
FY2022: Delivered or Exceeded Management Guidance for Growth FY2022 GUIDANCE FY2022 GROWTH AT CER RESULTS CORE REVENUE Low-single-digit % growth +3.5% Strong topline performance driven by Growth & Launch Products, at CER more than offsetting impact of VELCADE generics CORE OPERATING PROFIT High-sing
Slide 18: Business Momentum Driving Strong Core Profit Growth and Margin Expansion
Business Momentum Driving Strong Core Profit Growth and Margin Expansion FY2022 FINANCIAL RESULTS (SUMMARY) (BN YEN, except EPS) REPORTED CORE FY2022 ACTUAL % CHANGE FY2022 ACTUAL % CHANGE CER % CHANGE REVENUE 4,027.5 +12.8% 4,027.5 +17.7% +3.5% OPERATING PROFIT 490.5 +6.4% 1,188.4 +24.4% +9.1% Marg
Slide 19: Core Revenue Growth +3.5% at CER Driven by Growth & Launch Products
Core Revenue Growth +3.5% at CER Driven by Growth & Launch Products FY2022 REVENUE VS PRIOR YEAR R EP OR T ED R EVENU E C OR E R EVENU E (BN JPY) +12.8% +17.7% 4,027.5 4,027.5 +486.6 +486.6 3,569.0 +3.5% -133.0 3,420.5 -15.5 +271.2 +271.2 -150.8 -150.8 Mainly VELCADE in the U.S. FY2021 Sale of Japan
Slide 20: Growth & Launch Products Grew +19% at CER in FY2022
Growth & Launch Products Grew +19% at CER in FY2022 FY2022 REVENUE PLASMA-DERIVED THERAPIES (PDT) GI RARE DISEASES IMMUNOLOGY ONCOLOGY NEUROSCIENCE OTHER % of Sales: 27% % of Sales: 18% % of Sales: 17% % of Sales: 11% % of Sales: 16% % of Sales: 11% Growth: +9% Growth: +5% Growth: +15% Growth: -14%
Slide 21: Core Operating Profit Growth +9.1% at CER, Reflecting OPEX Discipline
Core Operating Profit Growth +9.1% at CER, Reflecting OPEX Discipline FY2022 OPERATING PROFIT VS PRIOR YEAR R EP OR T ED OP ER A T ING P R OF IT C OR E OP ER A T IN G P R OF IT (BN JPY) +24.4% +6.4% 1,188.4 490.5 460.8 +35.7 +145.8 +38.0 +9.1% -131.4 +87.4 +87.4 955.2 FY2021 Gain on sale of Business
Slide 22: Net Debt/Adjusted EBITDA at Low 2x Excluding Nimbus Impact
Net Debt/Adjusted EBITDA at Low 2x Excluding Nimbus Impact CHANGE IN NET DEBT Excludes pass-through cash (BN JPY) balance of JPY 125.8B Free Cash Flow 446.2 3,716.1 (837.3 excluding Nimbus) 3,233.8 518.7 103.5 26.9 279.4 977.2 81.7 633.7 Includes ~JPY 478.0B of translational FX impact 21.0 from conv
Slide 23: 100% of Debt at Fixed-Rate with ~2% Weighted Average Interest
100% of Debt at Fixed-Rate with ~2% Weighted Average Interest MATURITY LADDER AS OF 31 MARCH 2023 (AS ADJUSTED)1 1,000 800 REFINANCED REFINANCED BILLION JPY 600 HYBRID 400 PAID IN FY22 200 PAID IN FY22 - ‖ ‖ ‖ ‖ ‖ FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 FY 29 FY 30 FY 31 FY 32 FY 40 FY 45 FY 50 FY
Slide 24: FY2023 Outlook: Core Operating Profit >JPY 1trn Despite LOE
FY2023 Outlook: Core Operating Profit >JPY 1trn Despite LOE and Coronavirus Vaccines Impact; Dividend Increase to Underscore Confidence in Future Growth Profile • Growth & Launch products momentum expected to largely offset Loss of Exclusivity revenue impact • Year-on-year revenue and profit growth
Slide 25: Expansion of Growth & Launch Products Expected to Largely Offset LOE Impact
Expansion of Growth & Launch Products Expected to Largely Offset LOE Impact; Additional Headwinds from Lower Coronavirus Vaccines Expectations & FX FY2023 REVENUE FORECAST -4.7% (BN JPY) ~330.0 4,027.5 3,840.0 Coronavirus vaccines generated JPY 58.9B revenue in FY2022, but revenue expected to declin
Slide 26: Revenue Headwinds Also Impacting Core Operating Profit Outlook
Revenue Headwinds Also Impacting Core Operating Profit Outlook; OPEX Discipline to Limit Margin Impact While Still Investing for Growth FY2023 CORE OPERATING PROFIT FORECAST (BN JPY) -14.6% 1,188.4 1,015.0 +4.0% increase on CER basis FY2022 Growth and LOE Impact & R&D investment Other OPEX Fx FY2023
Slide 27: Updating Capital Allocation Policy to Reflect Deleveraging Achievement
Updating Capital Allocation Policy to Reflect Deleveraging Achievement Guided by our vision to discover and deliver life-transforming treatments, and with a focus on maintaining solid investment grade credit ratings, we will allocate capital to maximize value for patients and shareholders. • Strateg
Slide 28: Committed to Growth & Shareholder Returns
Committed to Growth & Shareholder Returns Near-term Medium-term Long-term (FY2024-2025) (FY2026 - early 2030s) (FY2030s and beyond) Return to sales, profit & margin growth Continued expansion of Growth & Launch Products Further launches from innovative late-stage pipeline Limited Loss of Exclusivity
Slide 29: Q&A Session
Q&A SESSION C H RI S T O PH E WE BE R A N D Y PL U MP C O S T A S A RO U K O S RA MO N A S E Q U E I RA Representative Director; Director; President, Director; President, President & CEO Research & Development Chief Financial Officer Global Portfolio Division JULIE KIM MI L A N O FU RU T A GI L E S
Slide 30: Appendix
APPENDIX
Slide 31: ENTYVIO Growth Continues to Drive Expansion of GI Franchise
G A ST R OENT ER OL OG Y ( G I) ENTYVIO Growth Continues to Drive Expansion of GI Franchise GI PORTFOLIO FY2022 Revenue JPY 702.7B (+15% growth) FY 2022 R E V E N UE FY2023 Forecast JPY 788.0B (+15% growth) (BN JPY) • Growth across all markets driven by continued patient growth in bio-naïve, amid so
Slide 32: ENTYVIO: Continuing Evidence Generation And Indication Expansion
ENTYVIO: Continuing Evidence Generation And Indication Expansion PHASE 3 PUBLISHED/PRESENTED FILED APPROVED ENTYVIO® ENTYVIO® IV, H2H vs. adalimumab (VARSITY)1 IV (Global) ENTYVIO® ENTYVIO® Ulcerative colitis SC (US) SC (EU, JP) ENTYVIO® IV, Pediatric (Global) ENTYVIO® IV (Global) ENTYVIO® ENTYVIO®
Slide 33: Any Biosimilar That Seeks to Launch Prior to 2032 Would Need to Address Patents
Any Biosimilar That Seeks to Launch Prior to 2032 Would Need to Address Potential Infringement and/or the Validity of All Relevant Patents • Takeda has granted patents that cover various aspects of ENTYVIO, including formulation, dosing regimens and process for manufacturing. These patents are expec
Slide 34: Now Treating Over 4,000 Patients Globally with TAKHZYRO
R A R E D ISEA SES Now Treating Over 4,000 Patients Globally with TAKHZYRO; LIVTENCITY Strong Launch Performance in U.S. & Rapid Geographical Expansion FY2022 Revenue JPY 151.8B (+25% growth) RARE DISEASES PORTFOLIO FY 2022 R E V E N UE FY2023 Forecast JPY 158.0B (+7% growth) • TAKHZYRO growth fuele
Slide 35: PDT Portfolio Continues to Deliver Outstanding Growth
P L A SM A - D ER IVED T H ER A P IES PDT Portfolio Continues to Deliver Outstanding Growth PDT IMMUNOLOGY PORTFOLIO Immunoglobulin Albumin FY 2022 R E V E N UE FY2022 Revenue JPY 522.2B (+16% growth) FY2022 Revenue JPY 121.4B (+19% growth) FY2023 Forecast +10-20% growth FY2023 Forecast +5-15% growt
Slide 36: Oncology Growth Impacted by VELCADE Generics
O NC OL OG Y Oncology Growth Impacted by VELCADE Generics; Portfolio Excluding VELCADE Grew +5% at CER ONCOLOGY PORTFOLIO FY 2022 R E V E N UE (BN JPY) • U.S. continues to have approximately 50% class share in 2L+ NSCLC with Exon20 500 -14% insertion mutations; 1L study on track for FY2024 readout •
Slide 37: Neuroscience Franchise Showing Strong Growth
N EU R OSC IENC E Neuroscience Franchise Showing Strong Growth N EURO SCIENCE P O RTFOL IO FY2022 Revenue JPY 459.3B (+18% growth) FY 2022 R E V E N UE FY2023 Forecast JPY 283.0B (-38% decline) (BN JPY) • U.S. growth in FY2022 driven by the expanding ADHD adult population and by lower U.S. supply of
Slide 38: FY2023: Multiple Potential Approvals For NMEs And Indication Expansions
FY2023: Multiple Potential Approvals For NMEs And Indication Expansions UC U.S. approval ENTYVIO SC CD Japan approval U.S. approval QDENGA Dengue vaccine Endemic countries TAK-755 cTTP U.S. approval KEY POTENTIAL fruquintinib mCRC U.S. approval REGULATORY TAKHZYRO Pediatric HAE EU approval APPROVALS
Slide 39: Consolidated Development Pipeline by Phase
Consolidated Development Pipeline by Phase PHASE 1 (15 NMEs + 1 LCM) PHASE 2 (17 NMEs + 1 LCM) TAK-105 TAK-647 TAK-279 TAK-101 TAK-951 Nausea & vomiting NASH1 Psoriasis Celiac Disease Nausea & vomiting GASTROINTESTINAL AND INFLAMMATION TAK-279 TAK-227 zamaglutenase Psoriatic Arthritis Celiac Disease
Slide 40: Consolidated Development Pipeline by Phase
Consolidated Development Pipeline by Phase PHASE 3 (7 NMEs + 23 LCMs) FILED (3 NME + 17 LCMs) fazirsiran ENTYVIO® ENTYVIO® ALOFISEL® maralixibat ENTYVIO® ENTYVIO® AATD Liver Disease Pediatric UC GvHD Prophylaxis Perianal Fistulas ALGS (JP) SC UC (US) SC UC (JP) GASTROINTESTINAL in CD (US) AND INFLAM
Slide 41: Clinical Development Pipeline Changes Since Q3
Clinical Development Pipeline Changes Since Q3 New To Phase 1 New To Phase 2 New To Phase 3 New Regulatory Filings TAK-647 TAK-279 fazirsiran ENTYVIO® ADCETRIS® NASH1 Psoriasis AATD Liver Disease SC UC (US) FL HL Stage III (EU) TAK-279 maralixibat ADCETRIS® fruquintinib Psoriatic Arthritis ALGS (JP)
Slide 42: Key Regulatory Decisions And Phase 3 Readouts In FY22
Key Regulatory Decisions And Phase 3 Readouts In FY22 EU approval1 QDENGA Dengue vaccine Endemic country approval1 KEY POTENTIAL LIVTENCITY Post-transplant R/R CMV EU approval REGULATORY APPROVALS Regional approvals2 EXKIVITY 2L EGFR exon20 insertion+ mNSCLC (post-platinum chemo) EU filing withdrawn
Slide 43: Glossary of Abbreviations
Glossary of Abbreviations Regional Abbreviations: EMA European Medicines Agency MG myasthenia gravis POGD post-operative gastrointestinal dysfunction CN: China; EU: Europe; JP: Japan; US: United States of America EU-M4all EU-Medicines for all MLD metachromatic leukodystrophy PRIME Priority medicines
Slide 44: Financial Appendix
FINANCIAL APPENDIX Definition of Non-IFRS Measures Definition of Core Financial Measures, Constant Exchange Rate change, and Free Cash Flow A-1 Definition of EBITDA/Adjusted EBITDA and Net Debt A-2 Reconciliations and Other Financial Information FY2022 Reported Results with Actual and CER % Change A
Slide 45: Definition of Core Financial Measures, CER, and Free Cash Flow
Definition of Core Financial Measures, Constant Exchange Rate change, and Free Cash Flow Core Revenue represents revenue adjusted to exclude significant items unrelated to Takeda’s core operations. Core Operating Profit represents net profit adjusted to exclude income tax expenses, the share of prof
Slide 46: Definition of EBITDA/Adjusted EBITDA and Net Debt
Definition of EBITDA/Adjusted EBITDA and Net Debt We present EBITDA and Adjusted EBITDA because we believe that these measures are useful to investors as they are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. We further
Slide 47: FY2022 Reported Results with Actual and CER % Change
FY2022 Reported Results with Actual and CER % Change vs. PY (Billion JPY) FY2021 FY2022 ACTUAL % CHANGE CER % CHANGE*1 Revenue 3,569.0 4,027.5 458.5 12.8% (0.8)% Cost of sales (1,106.8) (1,244.1) (137.2) (12.4)% 0.1% Gross profit 2,462.2 2,783.4 321.2 13.0% (1.1)% Margin 69.0 % 69.1 % 0.1 pp (0.2) p
Slide 48: FY2022 Q4 Reported Results with Actual and CER % Change
FY2022 Q4 (Jan-Mar) Reported Results with Actual and CER % Change FY2021 Q4 FY2022 Q4 vs. PY (Billion JPY) (Jan-Mar) (Jan-Mar) ACTUAL % CHANGE CER % CHANGE*1 Revenue 873.3 956.2 82.9 9.5% (1.2)% Cost of sales (308.4) (309.8) (1.4) (0.5)% 8.9% Gross profit 564.9 646.4 81.5 14.4% 3.1% Margin 64.7 % 67
Slide 49: FY2022 Core Results with Actual and CER % Change
FY2022 Core Results with Actual and CER % Change vs. PY (Billion JPY) FY2021 FY2022 ACTUAL % CHANGE CER % CHANGE*1 Revenue 3,420.5 4,027.5 606.9 17.7% 3.5% Cost of sales (1,060.6) (1,208.4) (147.8) (13.9)% (1.4)% Gross profit 2,359.9 2,819.1 459.2 19.5% 4.5% Margin 69.0 % 70.0 % 1.0 pp 0.6 pp SG&A e
Slide 50: FY2022 Q4 Core Results with Actual and CER % Change
FY2022 Q4 (Jan-Mar) Core Results with Actual and CER % Change vs. PY FY2021 Q4 FY2022 Q4 (Billion JPY) (Jan-Mar) (Jan-Mar) ACTUAL % CHANGE CER % CHANGE*1 Revenue 857.9 956.2 98.3 11.5% 0.6% Cost of sales (295.9) (306.7) (10.8) (3.7)% 6.0% Gross profit 561.9 649.4 87.5 15.6% 4.1% Margin 65.5 % 67.9 %
Slide 51: FY2022 Reconciliation from Reported to Core
FY2022 Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY) REPORTED Amortization of Impairment of Other CORE intangible intangible operating income/ Others assets assets expenses Revenue 4,027.5 4,027.5 Cost of sales (1,244.1) 35.7 (1,208.4) Gross profit 2,783.4 35.7 2,81
Slide 52: FY2022 Q4 Reconciliation from Reported to Core
FY2022 Q4 (Jan-Mar) Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY) REPORTED Amortization of Impairment of Other CORE intangible intangible operating income/ Others assets assets expenses Revenue 956.2 956.2 Cost of sales (309.8) 3.0 (306.7) Gross profit 646.4 3.0 649
Slide 53: FY2021 Reconciliation from Reported to Core
FY2021 Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY) REPORTED Other Irish CORE Amortization of Impairment of Sale of Japan TEVA JV related operating Tax intangible intangible diabetes accounting Others income/ Assessment assets assets portfolio adjustments expenses
Slide 54: FY2021 Q4 Reconciliation from Reported to Core
FY2021 Q4 (Jan-Mar) Reconciliation from Reported to Core REPORTED TO CORE ADJUSTMENTS (Billion JPY) REPORTED Other Irish CORE Amortization of Impairment of Sale of Japan TEVA JV related operating Tax intangible intangible diabetes accounting Others income/ Assessment assets assets portfolio adjustme
Slide 55: Free Cash Flow
Free Cash Flow (Billion JPY) FY2021 FY2022 Change versus the previous year Net profit 230.2 317.0 86.9 37.7% Depreciation, amortization and impairment loss 637.7 728.8 91.1 Decrease (increase) in trade working capital 206.3 (88.8) (295.1) Income taxes paid (147.7) (198.4) (50.7) Tax refunds and inte
Slide 56: FY2022 Net Debt to Adjusted EBITDA
FY2022 Net Debt to Adjusted EBITDA NET DEBT/ADJUSTED EBITDA RATIO NET INCREASE (DECREASE) IN CASH Change versus the (Billion JPY) FY2022 (Billion JPY) FY2021 FY2022 previous year Cash and cash equivalents*1 407.7 Net cash from operating activities 1,123.1 977.2 (145.9) (13.0)% Book value debt on con
Slide 57: FY2021 Net Debt to Adjusted EBITDA
FY2021 Net Debt to Adjusted EBITDA NET DEBT/ADJUSTED EBITDA RATIO NET INCREASE (DECREASE) IN CASH (Billion JPY) FY2021 (Billion JPY) FY2020 FY2021 vs. PY Cash and cash equivalents*1 642.2 Net cash from operating activities 1,010.9 1,123.1 112.2 11.1 % Book value debt on consolidated statements of (4
Slide 58: FY2022 and FY2021 Net Profit to Adjusted EBITDA Bridge
FY2022 and FY2021 Net Profit to Adjusted EBITDA Bridge (Billion JPY) FY2021 FY2022 Change versus the previous year Net profit 230.2 317.0 86.9 37.7% Income tax expenses 72.4 58.1 Depreciation and amortization 583.2 664.4 Interest expense, net 117.8 111.5 EBITDA 1,003.6 1,151.0 147.4 14.7% Impairment
Slide 59: CAPEX, Depreciation and Amortization and Impairment Losses
CAPEX, Depreciation and Amortization and Impairment Losses FY2023 (Billion JPY) FY2021 FY2022 vs. PY Forecast Capital expenditures*1 186.0 633.7 447.7 240.6% 480.0 - 530.0*3 Tangible assets 123.3 140.7 17.4 14.1% Intangible assets 62.8 493.0 430.2 685.3% *1 Cash flow base Depreciation and amortizati
Slide 60: FY2022 Results vs. Forecast (Oct. 2022)
FY2022 Results vs. Forecast (Oct. 2022) FY2022 FY2022 (BN JPY) Forecast vs. Forecast Variances Actual (October 27, 2022) Revenue 3,930.0 4,027.5 97.5 2.5 % Business momentum and FX benefit R&D expenses (620.0) (633.3) (13.3) (2.1)% Mainly due to FX Amortization of intangible assets (480.0) (485.1) (
Slide 61: FY2023 Detailed Forecast
FY2023 Detailed Forecast FY2022 FY2023 (BN JPY) Forecast vs. PY Variances Actual (May 11, 2023) (4.7)% Growth & Launch Products momentum largely offsetting LOE impact (e.g. VYVANSE, Revenue 4,027.5 3,840.0 (187.5) AZILVA), with additional headwinds from lower coronavirus vaccines revenue and FX R&D
Slide 62: FY2023 Reconciliation from Reported Operating Profit to Core Operating Profit Forecast
FY2023 Reconciliation from Reported Operating Profit to Core Operating Profit Forecast REPORTED TO CORE ADJUSTMENTS Other (Billion JPY) REPORTED Amortization of Impairment of CORE operating intangible intangible income assets assets (expenses) Revenue 3,840.0 3,840.0 Cost of sales Gross Profit SG&A
Slide 63: FX Rates and FY2023 Currency Sensitivity
FX Rates and FY2023 Currency Sensitivity Average Exchange Rates vs. JPY Impact of depreciation of yen from April 2023 to March 2024 (100 million JPY) Core FY2021 FY2022 FY2023 Operating Revenue Net Profit Operating Actual Actual Assumption Profit (IFRS) (IFRS) Profit (Apr-Mar) (Apr-Mar) (Apr-Mar) (I
Slide 64: © 2023 Takeda Pharmaceutical Company Limited. All rights reserved.
© 2023 Takeda Pharmaceutical Company Limited. All rights reserved.
Takeda Pharmaceutical Company — Q4 2022 Earnings Presentation on 6ix