Sawai Group Holdings Co., Ltd. · TSE:4887
Sawai — FY2025 Earnings Presentation
29 slides from Sawai's earnings presentation, May 15, 2026
Slide 1: Presentation Materials FY2025
Sawai Group Holdings Co., Ltd. Presentation Materials FY2025 May 15, 2026 4887, TSE Prime
Slide 2: Summary
Summary ▌Results for FY2025 (Ended March 31,2026) ⚫ Revenue increased 6.7% YoY, core operating profit decreased 3.6% YoY, and operating profit increased 292.5% YoY. Increased sales of products listed in FY2024 and FY2025 Increased sales of existing products, driven by items eligible for the selectiv
Slide 3: INDEX
INDEX 01 FY2025 Financial Results 02 FY2026 Forecasts 03 Reference Materials
Slide 4: FY2025 Financial Results
01 FY2025 Financial Results
Slide 5: Overview of Financial Results for FY2025 (Apr.-Mar.)
Overview of Financial Results for FY2025（Apr.-Mar.） ⚫ Sales increased for products listed in FY2024 and FY2025. ⚫ Sales of existing products increased, supported by items eligible for the selective treatment system introduced in October 2024 ⚫ GP margin declined due to NHI drug price revisions and h
Slide 6: Sales Revenue
Sales Revenue ⚫ Sales of existing products increased in first half due to the selective treatment system that started in October 2024. ⚫ In second half, despite the lapping of this regulatory tailwind, sales grew supported by new listed products in December 2025. ▌Quarterly revenue ▌Breakdown of rev
Slide 7: Revenue by Product Listed Year
Revenue by Product Listed Year ⚫ Despite the impact of NHI drug price revisions, sales grew due to new formulary adoptions following the selective treatment system ⚫ Products listed in December 2025, led by dapagliflozin, contributed steadily to overall revenue. ⚫ Sales for products listed in FY2024
Slide 8: Operating Profit Analysis
Operating Profit Analysis (Unit: million yen) +11,845 11,736 1,452 15,894 • Decline in NHI drug prices 0 • Increase in outsourced processing costs (1,247) 6,604 • Increase in labor cost • Increase in other expenses (2,115) 679 4,050 (2,727) • Rebound from litigation- related provision of FY2024 +16,
Slide 9: FY2026 Forecasts
02 FY2026 Forecasts
Slide 10: FY2026 Full-year Forecasts
FY2026 Full-year Forecasts ⚫ Sales of FY2026 new products are expected to exceed those of FY2025 new products. ⚫ Forecast an improvement in gross profit margin driven by an optimized product mix. ⚫ Operating profit increased, due to the absence of the 4,000 million yen litigation settlement fee reco
Slide 11: FY2026 Full-year Forecasts (Revenue and Gross profit)
FY2026 Full-year Forecasts (Revenue and Gross profit) ⚫ While sales are expected to grow, driven primarily by new products, they are projected to fall short of the Medium-Term Management Plan target of 220 billion yen due to production constraints. ⚫ Gross profit is expected to increase, supported b
Slide 12: FY2026 Full-year Forecasts (SG&A expenses and R&D expenses)
FY2026 Full-year Forecasts (SG&A expenses and R&D expenses) ⚫ Increase in SG&A expenses driven by wage increases and investments in productivity-enhancing initiatives. ⚫ R&D expenses will be slightly lower than the previous fiscal year. ▍SG&A expenses (Unit: million yen) +7.5% 28,000 SG&A expenses 2
Slide 13: Strategies for Production Capacity Expansion
Strategies for Production Capacity Expansion ⚫ Targeting production of 18.0 billion tablets in FY2026. ⚫ Scheduled launch of Step 2 at Daini Kyushu Factory new wing in Dec 2026. ⚫ Proceeding with the transfer of product manufacturing to the new wing of the Daini Kyushu Factory and Trust Pharmatech.
Slide 14: Reference Materials
03 Reference Materials
Slide 15: Initiatives for Sustainability
Initiatives for Sustainability ⚫ Addressing ESG issues including measures to address climate change, promotion of ID&E, and strengthening of corporate governance, as a healthcare corporate group which develops sustainably alongside society Issues to address Quantitative targets, etc. FY2025 results
Slide 16: New Officer
New Officer Toshiomi Nakate Senior Managing Executive Officer, SAWAI GROUP HOLDINGS Co., Ltd. Representative Director, President, Sawai Pharmaceutical Co., Ltd. ▌Career Summary April 1985 Joined Fujisawa Pharmaceutical Co., Ltd. (currently Astellas Pharma Inc.) Joined Sawai Pharmaceutical Co., Ltd.
Slide 17: New Products Scheduled for Launch in June
New Products Scheduled for Launch in June ⚫ 6 ingredients and 9 items are scheduled for listing on the NHI. ⚫ New product sales are planned to be 6.3 billion yen in FY2026, including these products. Therapeutic category name Drug name Name of long -listed drug BILASTINE Tablets [SAWAI] 20 mg Bilanoa
Slide 18: Key Regulatory Changes from April 2026
Key Regulatory Changes from April 2026 • NHI listing price for Authorized Generics (AG) and Bio-AG will Authorized be set at the same amount as the branded products Generics (AG) • On NHI price revision, items at the same price as the branded products will be consolidated Rationalization • Apply to
Slide 19: New Businesses Digital Healthcare & Medical Devices Update
New Businesses Digital Healthcare & Medical Devices Update Company Project Category Status A Digital Therapeutic to Reduce Alcohol Consumption, HAUDY※ Medical Device Launched ・Sales launched on September 1, 2025 ※CureApp AUD: A Digital Therapeutic to Reduce Alcohol Consumption Non–invasive neuromodu
Slide 20: Changes in Number of Limited Shipment Items
Changes in Number of Limited Shipment Items ⚫ Reducing items on limited shipment, with a focus on maintaining stability through 2025 ⚫ Current number of items for which shipment is restricted or suspended: 109 items, regular shipment: 640 items (as of March 31) 451 347 308 277 261 259 247 238 208 22
Slide 21: Comparison of Sales Volume by Therapeutic Area
Comparison of Sales Volume by Therapeutic Area ⚫ Sales volume increased particularly for products designated under the selective treatment category. FY2024 FY2025 YoY change YoY change (value) Composition(volume) Composition(volume) (volume) Cardiovascular drugs 27.1% 27.0% +6.3% +7.6% Central nervo
Slide 22: Consolidated Financial Highlights: Statements of Financial Position
Consolidated Financial Highlights 1 ▌Consolidated Statements of Financial Position End of March 2025 End of March 2026 (Unit: billion yen) Total assets 354.6 Total assets 359.9 Current Current Liabilities Liabilities assets assets 200.8 200.3 181.4 180.8 v v Cash and cash v Cash and cash equivalents
Slide 23: Consolidated Financial Highlights: Statements of Cash Flows
Consolidated Financial Highlights 2 ▌Consolidated Statements of Cash Flows (Unit: million yen) FY2024 FY2025 YoY Factors results results change • Profit before tax: +14,273 • Depreciation and amortization: +16,002 Operating CF 27,851 7,433 (20,418) • Decrease in provision: (16,902) • Increase in inv
Slide 24: Consolidated Financial Highlights: Key Income Statement Data (FY2025)
Consolidated Financial Highlights 3 ▌Key Income Statement Data (FY2025 Results) (Unit: million yen) FY2025 Results % of % of % of % of Full- % of Q1 YoY Q2 YoY Q3 YoY Q4 YoY YoY revenue revenue revenue revenue year revenue Revenue 49,511 100.0% +11.7% 49,332 100.0% +13.3% 56,021 100.0% +1.2% 46,812
Slide 25: Consolidated Financial Highlights: Key Income Statement Data (FY2026 Forecasts)
Consolidated Financial Highlights 4 ▌Key Income Statement Data (FY2026 Forecasts) (Unit: million yen) FY2024 FY2025 Results FY2026 Forecasts Results % of % of % of % of % of Full-year Full-year YoY H1 YoY H2 YoY Full-year YoY revenue revenue revenue revenue revenue Revenue 189,024 100.0% 201,676 100
Slide 26: Adjustment from Full Basis to Core Basis
Consolidated Financial Highlights 5 ▌Adjustment from Full Basis to Core Basis (Unit: million yen) FY2024 YTD results FY2025 YTD results Full basis Adjustment Core basis Full basis Adjustment Core basis Revenue 189,024 – 189,024 201,676 – 201,676 Cost of sales (132,673) 405 (132,268) (142,882) 156 (1
Slide 27: Consolidated Financial Data
Consolidated Financial Data ▌Sales and Production Volume (Unit: billion tablets) FY2024 FY2025 FY2026 full-year Results Results YoY change Forecasts YoY change Sales volume 16.1 17.1 +6.2% 17.6 +2.9% Production volume 16.6 16.6 +0.0% 18.0 +8.4% ▌Capital Investment, and Depreciation and Amortization
Slide 28: Shareholder Return
Shareholder Return • Annual dividend for FY2025 is planned at 55 yen per share. • Annual dividend for FY2026 is projected to be 56 yen per share, 1 yen increase from the previous year. • We will repurchase treasury shares flexibly based on factors such as free cash flow and market trends as part of
Slide 29: Disclaimer
Disclaimer Forward–looking statements contained in this document are based on several assumptions and do not guarantee or assure the achievement of projected figures and the implementation of initiatives. Contact Sawai Group Holdings Co., Ltd. IR Group, Group Finance Department E-Mail ir@sawai.co.jp