Kyowa Kirin Co., Ltd. · TSE:4151
Kyowa Kirin — Q1 2026 Earnings Presentation
44 slides from Kyowa Kirin's earnings presentation, Sep 16, 2026
Slide 1: Results Presentation Fiscal 2026 First Quarter
Results Presentation Fiscal 2026 First Quarter
Slide 2: Agenda
Agenda 01 Management Focus & Q1 2026 Highlights Chairman Masashi Miyamoto 02 Financial Review President and Chief Executive Officer (CEO) Abdul Mullick 03 Commercial update Chief Medical Officer (CMO) Yoshifumi Torii 04 Business update Chief Financial Officer (CFO) Koji Igarashi 05 R&D update © Kyow
Slide 3: Forward-looking statements
This document contains forward-looking statements regarding the outlook, targets, plans, and other future-related matters of the Company (including its consolidated subsidiaries in Japan and overseas). These statements are based on our reasonable judgments using current information and forecasts but
Slide 4: Q1 2026 Highlights (Executive Summary)
Q1 2026 Highlights (Executive Summary) ◼ Management Focus ◼ Q1 Financial Results ⚫ Revenue of JPY 118.5 billion (+13% YoY) and Core Operating Profit of JPY 20.0 billion (+78% YoY). ⚫ Performance is tracking in line with the full-year plan ◼ Revision of FY2026 Plans ⚫ Core Operating Profit revised up
Slide 5: Vision 2030
Vision 2030 Provide pharmaceuticals for unmet medical needs Kyowa Kirin will realize the successful creation and delivery of life-changing We are focused on developing medicines value* that ultimately makes people for diseases where there is a clear smile, as a Japan-based Global patient need for ne
Slide 6: Our Strategy for Creating Life-changing Value - Story for Vision 2030
Our Strategy for Creating Life-changing Value - Story for Vision 2030 Amid significant environmental changes, Kyowa Kirin is formulating the Story for Vision 2030 to ensure the steady realization of its vision By enhancing clarity around the vision and linking strategies and challenges more organica
Slide 7: Our Strategy to Deliver Life-changing value: Building on Strengths, Driving Growth
Our Strategy to Deliver Life-changing value: Building on Strengths, Driving Growth As a unique J-GSP with strong expertise across therapeutic areas and modalities, we are expanding our business globally through our proven commercialization Focus on Strengths Proven Disease areas Modalities Commercia
Slide 8: Key Priorities Under the New C-Suite Executive Team
Key Priorities Under the New C-Suite Executive Team To realize Life-changing value and achieve the financial targets of “Vision 2030 and beyond : Our Growth Story” we clarify the growth pillars as follows: 1 Maximize the value of our key products ⚫ Continue robust growth of Crysvita and Poteligeo, w
Slide 9: Engagement with key stakeholders
Engagement with key stakeholders In an increasingly challenging world, facing environmental and geopolitical instability and an ever- evolving healthcare landscape, connecting with stakeholders is a vital part of our success to create and deliver life-changing value. Suppliers / Employees Distributo
Slide 10: Financial Review
Financial Review © Kyowa Kirin Co., Ltd. 9
Slide 11: Summary of FY26 Q1 Results
Summary of FY26 Q1 Results Q1 results showed increases in both revenue and profit, tracking in line with the full-year plan (Billion JPY / Rounded) FY2025 FY2026 FY 2026 Change Progress Jan-Mar Jan-Mar Rev. Plans 520.0→ Revenue 104.7 118.5 +13.7 23% [Overseas Ratio] [73%] [77%] (+13%) 520.0 [77%] Gr
Slide 12: YoY Analysis ~Revenue~ by Region
YoY Analysis ~Revenue~ by Region In addition to the growth of global strategic products, mainly in North America and EMEA, sales increased due to increased tech-licensing revenue Rocatinlimab upfront deferred revenue Temporary FY25 Q1 2.0 billion yen (Billion JPY) factors FY26 Q1 9.7 billion yen（+7.
Slide 13: YoY Analysis ~Revenue~ by Product
YoY Analysis ~Revenue~ by Product Revenue growth driven by Crysvita and Poteligeo, along with increased tech-licensing revenue (Billion JPY) Despite weak performance in North America (–3%) due to Crysvita factors such as channel inventory destocking, sales FY25 Q1 104.7 +3.2 increased in EMEA (+21%)
Slide 14: YoY Analysis ~Core Operating Profit~
YoY Analysis ~Core Operating Profit*1~ Core operating profit up on global products, Tech-licensing income, and reduced rocatinlimab development costs (Billion JPY) FY25 Q1 11.2 Gross Profit Gross profit increased due to higher revenue. +5.8 The gross profit margin declined by 2 points, from 77% to 7
Slide 15: YoY Analysis ~Profit~
YoY Analysis ~Profit~ Although impairment losses related to rocatinlimab were recorded, profit increased due to an increase in core operating profit (Billion JPY) FY25 Q1 6.2 Amortization of Core Increased amortization of sales rights due to the launch of KOMZIFTI in +8.8 intangible assets the U.S.
Slide 16: Summary of Revised FY26 Plans
Summary of Revised FY26 Plans The full-year forecast has been revised upward for core operating profit, while net profit remains unchanged and is still expected to increase year on year FY2025 FY2026 ( Billion Yen / Rounded ) Change Results Rev. Plans Revenue 496.8 520.0→ 520.0 +23.2 [Overseas sales
Slide 17: Earnings Forecast Update
Earnings Forecast Update Core operating profit will increase due to cost reductions from the discontinuation of the rocatinlimab clinical program, while net profit is expected to remain unchanged due to closing costs and other expenses. (Billion JPY) Profit (initial forecast) 75.0 Gross Profit Cost
Slide 18: Commercial Update
Commercial Update Coordinated Actions to Maximize Patient Access to Global Strategic Products © Kyowa Kirin Co., Ltd. 17
Slide 19: Crysvita 2026 Key Actions & Q1 Topics
Crysvita 2026 Key Actions & Q1 Topics 2026 KEY ACTIONS 2026 Q1 TOPICS ◼ NA: ◼ NA: YTD Sales rev. YoY, in Yen -3%, in local currency -3% Continue investments in people and operations to support patient identification, customer Negative impacts from seasonal factors (destocking of inventory) made Q1 s
Slide 20: Poteligeo 2026 Key Actions & Q1 Topics
Poteligeo 2026 Key Actions & Q1 Topics 2026 KEY ACTIONS 2026 Q1 TOPICS ◼ Global: Support the Poteligeo franchise in MF/SS through aligned global execution and ◼ Global: YTD Sales rev. YoY +23%, annual plan progress rate 22% continued use of clinical and real-world evidence to reinforce long-term val
Slide 21: KOMZIFTI (ziftomenib) 2026 Key Actions & Q1 Topics
KOMZIFTI (ziftomenib) 2026 Key Actions & Q1 Topics KEY ACTIONS IN 2026 ※ KOMZIFTI revenue is expected to be Kyowa Kirin P/L Image Unit: Billions of yen disclosed following Kura Oncology's earnings Items FY2025 2026 Q1 ◼ KOMZIFTI’s efficacy, safety profile, and ease of use support its positioning as
Slide 22: Business Update
Business Update © Kyowa Kirin Co., Ltd. 21
Slide 23: Taking Another Step Forward Toward Creating Innovative Life-changing value
Taking Another Step Forward Toward “Creating Innovative Life-changing value” From Vision 2030 and Beyond: Our Growth Story Creating Innovative Delivering Life-changing value Pursuing Operational Excellence Life-changing value to Patients with Super Team ◼ Leverage our strengths in advanced ◼ Further
Slide 24: Further Strengthening Drug Discovery Capabilities
Further Strengthening Drug Discovery Capabilities — Consolidating Domestic Research Sites and Relocating to a New Research Facility in Yokohama Research Development New Yokohama Site TRP1 FRP2 TRP FRP Drug discovery Clinical Trials Drug Discovery Incubation Research Research Development Research Pha
Slide 25: R&D Update
R&D Update © Kyowa Kirin Co., Ltd. 24
Slide 26: Development Pipeline: News Flow
Development Pipeline: News Flow New information highlighted in orange As of May 7, 2026 Product Indication Event Status P3 (KOMET-017) Ongoing Ziftomenib Already marketed as KOMZIFTITM AML (1L Combo) P1 (KOMET-007) Ongoing OTL-203 MPS-I (Hurler Syndrome) Registrational Study (P3 Equivalent) Ongoing
Slide 27: Appendix
Appendix © Kyowa Kirin Co., Ltd. 26
Slide 28: Revenue of Major Items
Revenue of Major Items (Units are billion JPY, rounded) FY2025 FY2026 FY2026 YoY Change Key Reason Progress Product Name, etc. Jan-Mar Jan-Mar Rev. Plans* 42.4 45.7 +3.2 (+8%) 235.4 19% Japan 2.8 3.4 +0.7 (+24%) 14.7 23% North Crysvita America 24.1 23.5 -0.6 (-3%) Market Penetration EMEA 14.8 17.9 +
Slide 29: Impact on Business Performance
Source: Kyowa Kirin, “Discontinuation of Clinical Trials for Rocatinlimab,” disclosed on March 4, 2026. Impact on Business Performance • Short-term profit increase due to elimination of SG&A and R&D expenses related to rocatinlimab • Certain negative profit impact expected in the medium to long term
Slide 30: Impact on Mid- to Long-term Financial Targets and Future Management Policy
Source: Kyowa Kirin, “Discontinuation of Clinical Trials for Rocatinlimab,” disclosed on March 4, 2026. Impact on Mid- to Long-term Financial Targets and Future Management Policy ◼ No changes to the mid- to long-term financial targets announced in “Vision 2030 and beyond : Our Growth Story" publishe
Slide 31: Change in Core Performance Metrics from FY2026
Source: Kyowa Kirin, “FY2025 Financial Results Briefing,” disclosed on Feb 9, 2026. (Updated 2026 Plans) Change in Core Performance Metrics from FY2026 Background Reviewing performance management post 2021-2025 Mid-term Business Plan, we change core performance metrics anticipating the impact of IFR
Slide 32: Impacts arising from the adoption of IFRS 18
[Ref.] Impacts arising from the adoption of IFRS 18 “Presentation and Disclosure in Financial Statements From the fiscal year ending December 2027, the presentation of our consolidated statement of profit or loss will be revised as outlined below. Ahead of this change, we have updated our performanc
Slide 33: Capital Allocation Policy (2026–2028)
Source: Kyowa Kirin, “FY2025 Financial Results Briefing,” disclosed on Feb 9, 2026. Capital Allocation Policy (2026–2028) Prioritize growth investments while ensuring stable shareholder returns, leveraging strong cash position and borrowing capacity Source Allocation Cash on hand R&D ￥220 B Investme
Slide 34: P/L Impact on EMEA established medicines portfolio
P/L Impact on EMEA established medicines portfolio Before After 2024 2025 2026 Aug 2023 Aug 2023 unrealized 49% of the transfer value £ 66.4M(JPY13.1B) £38.5M (JPY7.7B) *Incl. price adj. diff. for 3 Tostran until Oct 3 brands 1 brand brands transferred last year Product sales IP transfer IP transfer
Slide 35: Key Development Pipeline (1)
Key Development Pipeline (1) As of May 7, 2026 Planned Development Number of Disease in development*1 approval year*2 status Market size*3 patients*4 AML ziftomenib TBD P3 (Global) ★★★★ 20K (NPM1-m or KMT2A-r, Newly Diagnosed) Achondroplasia TBD P3 (Japan) ★ 1 in 20K live births KK8398 infigratinib
Slide 36: Key Development Pipeline (2)
Key Development Pipeline (2) As of May 7, 2026 Disease in Development*1 Development Status Modality, Technology Used Systemic Lupus Erythematosus KK4277 P1 (Japan/Asia) Antibody, POTELLIGENT® Cutaneous Lupus Erythematosus P1 KK2260 Advanced/Metastatic Solid Tumors (JP: Ongoing, US: Prep) Antibody, R
Slide 37: Key Development Pipeline: Future Plans
Orange: Ongoing Key Development Pipeline: Future Plans Gray: Pre-initiation or Completed As of May 7, 2026 Development Product Name Target Disease Phase 2026 2027 2028 ＋ ALL P1a1 (KMT2A-r) KOMET -0012 P1a1 (non NPM1-m / non-KMT2A-r AML) KOMET- 0073 P1 ziftomenib KOMET- AML 0084 P11 KOMET- 0175 P3 KO
Slide 38: Key Development Pipeline: Future Plans
Key Development Pipeline: Future Plans Orange: Ongoing Gray: Pre-initiation or Completed As of May 7, 2026 Development Product Name Target Disease Phase 2026 2027 2028 ＋ Wet AMD P2 KHK4951 tivozanib eyedrop DME P2 SLE KK4277 P1 P1 study nearly complete. Reviewing results to determine next steps. CLE
Slide 39: FX Info
FX Info Period Avg. FX Rate (yen) 2025 2026 2026 YoY Q1 Q1 Rev. Plans* USD 154 155 +1 ¥150 GBP 193 210 +17 ¥205 EUR 161 183 +22 ¥180 FY2026 Q1FX Impact (vs FY25, billion yen) Revenue Core OP USD -0.0 -0.0 GBP +0.1 -0.1 EUR +2.2 +1.2 FY2026 FX Sensitivity (vs FY26 Rev. Plans, billion yen) Sensitivity
Slide 40: Ziftomenib ~Kura Oncology Collaboration~
Ziftomenib ~Kura Oncology Collaboration~ US Ex-US ◼ Kura leads Dev. Dev. ◼ Dev. costs 50/50 ◼ Kyowa Kirin leads Dev. ◼ Kura funds Dev. (~2028) Commercial. ◼ Kyowa Kirin sells & books sales ◼ Kura books sales ◼ 50/50 Profit Share Sales Royalties ◼ Kyowa Kirin pays double-digit % sales royalties Suppl
Slide 41: Crysvita ~Ultragenyx Collaboration~
Crysvita ~Ultragenyx Collaboration~ Economic Terms ◼ Kyowa Kirin books sales US･Canada ◼ 50/50 profit share for 5 years post-launch ◼ From Yr 6 (Apr 27, 2023), tiered sales royalties to Ultragenyx (mid-to-high 20s%) ◼ Kyowa Kirin books sales Europe ◼ Sales royalties to Ultragenyx (<10%) ◼ Ultragenyx
Slide 42: Est. Patients
Est. Patients Country/ Disease Region Incidence Prevalence1 Source PTCL Japan, US, EU4+UK 59,000 Clarivate - Decision Resources NK/T-Cell Lymphoma - Epidemiology Report Japan 2,000 MHLW 2017 Patient Survey, by Disease CTCL US 1,500 / year SEER Data (2001-2007) Adults: 5,000 Est. based on incidence;
Slide 43: Abbreviations
Abbreviations AG Authorized Generic Authorized Generic ALL Acute lymphoblastic leukemia Acute Lymphoblastic Leukemia AML Acute Myeloid Leukemia Acute Myeloid Leukemia BS Biosimilar Biosimilar CTCL Cutaneous T-cell Lymphoma Cutaneous T-cell Lymphoma DME Diabetic Macular Edema Diabetic Macular Edema E
Slide 44: Contact for Inquiries Regarding This Material
～Contact for Inquiries Regarding This Material～ Kyowa Kirin Co., Ltd. Finance Dep., IR Group +81-3-5205-7206 / ir@kyowakirin.com