Tsumura & Co. · TSE:4540
Tsumura & — Q2 FY2014 Earnings Presentation
33 slides from Tsumura &'s earnings presentation, November 2013
Slide 1: ARR S
ARR S 16 sno YOS 2014 3 2 2013 11 8
Slide 2: 2014 2012/00/00
2014 3 2 2 2012/00/00
Slide 3: Q2 consolidated results summary
2014 3 2 2013 2Q 54,100 53,398 701 1.3% 2,349 4.6% 11,200 10,366 833 7.4% 667 6.0% 11,400 10,965 434 3.8% 10 0.1% 7,400 7,069 330 4.5% 184 2.7% 2013 2Q 2012 2Q 20.7% 19.4% 21.6% 0.4% (1 ) 32 32 30 2.0% 4.2% 93.4% 3
Slide 4: Sales and profit overview
2 53,398 1.3% +4.6% • 17 15.2 • 9.3 10,366 7.4% 6.0% 19.4% 1.3pt 2.2pt • 34.8% 0.6pt 1.3pt P7 • 45.8% 0.7pt 0.9pt 10,965 3.8% 0.1% • 7,069 4.5% +2.7% 4
Slide 5: Hospital and general practitioner sales
129 Hospital (HP) General practitioner (GP) 100 100 20% 80% • HP • • MR 2 HP4.1% GP3.9% 5
Slide 6: Operating profit change factors
+2,349 1,499 1,518 11,034 10,366 129 +15.2 +443 +182 +465 +50 +378 +1,518 2012 2Q 2013 2Q 6
Slide 7: Cost of sales ratio
34.2 2013 2Q 34.8 0.6pt 0.6pt 34.0% 2012 2Q 33.5 2013 2Q 34.8 1.3pt 1.8pt 1.0pt 1.5pt 1.3pt 7
Slide 8: Balance sheet
2013 B/S 2012 2Q 355 406 30 8 13 51 68 82 11 3 0 14 83 91 4 4 0 8 203 232 15 1 13 29 8
Slide 9: Balance sheet and equity ratio
B/S +59.7 1,704 1,764 30.0 9.6 1,248 +50.5 1,185 +28.1 +16.7 2012 2013 2Q 68.6% 69.7% 2012 2013 2Q 9
Slide 10: Cash flow
19 17 7 33 +8 137 23 1 107 2012 2013 2Q 10
Slide 11: 1. 2. 3. 2012/00/00
1. 2. 3. 11 2012/00/00
Slide 12: >>> >>> >>> XDD DD DD DDDDDDD
>>> >>> >>> >>> >>> XDD DD DD DDDDDDD 12
Slide 13: >> >> >>> >>> >>> DDDD >> >>>>
>> >> >>> >>> >>> DDDD >> >>>> VW 13
Slide 14: 1. 1. 2. 1,000 44% 18,000 7,385 40%
1. 1. 2. 5 129 5 630 1,000 282 44% 18,000 7,385 40% 14
Slide 15: MR activity trends
1. MR 100 HP MR 6.2 5.8 4.3 4.6 3.0 2.5 2.6 2.0 2.2 1.4 1.5 1.6 1.0 1.1 0.6 0.8 4-9 10-3 4-6 7-9 10-12 1-3 4-6 7-9 2011 2012 2013 15
Slide 16: 1. MR 3,988 4,251 3,321 3,269 2,152 2011 2011 2012 2012 2013 16
1. MR 171 171 159 140 106 3,988 4,251 3,321 3,269 2,152 2011 2011 2012 2012 2013 16
Slide 17: 1. 10,905 7,144 7,511 6,731 2,678 2,219 1,980 1,050 1,518 519 2011 2011 2012
1. 10 10,905 7,144 7,511 6,731 2,678 2,219 1,980 1,050 1,518 519 2011 2011 2012 2012 2013 17
Slide 18: 1. 25.4% 7.8% 1,756 1,619 1,496 1,400 2009/10-2010/9 10/10-2011/9 2011/10-2012/9 2012/10-2013/9 18
1. 12 3 25.4% 7.8% 1,756 1,619 1,496 1,400 2009/10-2010/9 2010/10-2011/9 2011/10-2012/9 2012/10-2013/9 18
Slide 19: 2. 2012 3.6% 2011 2013 8.9% 2013 2012 2016 2013 2015 2015 19
2. 2012 3.6% 2011 2013 8.9% 2013 8 3 12 2 2012 8 3 12 2 2016 2013 2015 2015 19
Slide 20: 2. 2011 2012 2011 103.6% 2013 108.9% 130% 109.4% 120% 103.6% 112% 108.9% 102.1%
2. 2011 2012 2011 103.6% 2013 108.9% 130% 109.4% 120% 103.6% 112% 108.9% 102.1% 2012 2013 2014 2015 2016 2015 20 2011 20
Slide 21: 2. 2013 • • • •
2. 2013 11 • • • • 21
Slide 22: 2. * 2012 2013 2014 2015 2016 * * 2012 95 2013 24 2013
2. * 105 1 2 2012 2013 2014 2015 2016 * 5 11 * 10 12 3 2012 95 2013 24 2013 81 2013 153 2013 105 22
Slide 23: 2. +47 2006 2006 2007 08 2009 2010 2011 2012 2013 23
2. 237 241 +47 2006 100 190 156 100 117 110 110 2006 2007 2008 2009 2010 2011 2012 2013 23
Slide 24: 2. 2012 2013 20% 80% 100% 78% 24
2. 2012 2013 47 9 20% 38 80% 47 100% 100 20 20 78% 8 11 1 20 24
Slide 25: 2. 2006 2006 2007 2008 09 2010 2011 2012 2013 25
2. 430 2006 100 312 235 132 146 100 94 109 2006 2007 2008 2009 2010 2011 2012 2013 25
Slide 26: 2. 2006 2006 2007 08 2009 2010 2011 2012 2013 * 185 * 26
2. 271 2006 100 200 197 188 185 100 100 106 106 2006 2007 2008 2009 2010 2011 2012 2013 * 185 * 26
Slide 27: 3. • • 30.3% 31.6% 31.5% 28.4% 27.7% 22.3% 17.8% 23 8.1% 9.1% 17
3. • • 30.3% 31.6% 31.5% 28.4% 27.7% 22.3% 17.8% 30 30 32 32 23 8.1% 9.1% 17 13 28 30 30 32 8 10 23 10 17 6 7 2005 2006 2007 2008 2009 2010 2011 2012 2013 27
Slide 28: 2014 2012/00/00
2014 3 28 2012/00/00
Slide 29: Full-year forecast
2014 3 ( 2013 3 2014 3 105,638 112,000 6,361 6.0% 23,124 24,700 1,575 6.8% 24,310 25,100 789 3.2% 15,373 16,300 926 6.0% 2013 3 2014 3 21.9% 22.1% (1 ) 62 64 EPS 217.98 231.12 ROE 14.1% 13.3% 29
Slide 30: 2012/00/00
30 2012/00/00
Slide 31: Sales by product
10 2013 2012 2Q 2Q 1 4,811 4,460 351 7.9% 2 3,551 3,414 137 4.0% 3 3,267 3,000 266 8.9% 4 3,258 3,021 236 7.8% 5 2,127 1,947 179 9.2% 6 2,126 2,060 66 3.2% 7 1,900 1,894 6 0.3% 8 1,733 1,681 52 3.1% 9 1,726 1,710 15 0.9% 10 1,256 1,336 80 6.0% 583 535 47 9.0% 129 49,857 48,330 1,527 3.2% 5 13,821 12
Slide 32: Clinical studies list
(DB-RCT & ) 2009 1 2011 6 (2013 4 ) (DKT ) ( ) 2009 1 2011 6 (2013 4 ) (DKT ) TJ-100 JDDW1 2012 (2012 10 ) 2010 2 2011 5 (DKT ) (2012 11 ) 2011 1 2012 12 (DKT ) JAPAN-PD STUDY ( ) (ECRIN) 2012 8 2014 8 2012 6 2014 5 TJ-43 2011 2 2013 2 HP G-PRIDE STUDY (PPI ) ( ) 2011 8 2012 9 DDW 2013 (2013 2 5 ) T
Slide 33: TEL 03-6361-7101
TEL 03-6361-7101 • • • 33