Shin Nippon Biomedical Laboratories, Ltd. · TSE:2395

Shin Nippon Biomedical Laboratories — H1 FY2026 Earnings Presentation

29 slides from Shin Nippon Biomedical Laboratories's earnings presentation, Nov 10, 2026

  1. Slide 1: Consolidated Financial Results Briefing

    Consolidated Financial Results Briefing for the First Six Months of the Fiscal Year Ending March 31, 2027 Presentation Material Nov 10, 2026 株式会社新日本科学 SHIN NIPPON BIOMEDICAL LABORATORIES, LTD.

  2. Slide 2: Agenda

    1. Outline of FY2026 H1 Consolidated Financial Results P. 3 2. Business Topics I. CRO (Nonclinical) P. 11 II. CRO (Clinical) P. 19 III. TR P. 21 IV. Medipolis P. 26 • Fiscal Year Notation Starting with this presentation, the fiscal year ending March 2027 is referred to as “FY2026” in tables. For sub

  3. Slide 3: 1. Outline of FY2026 H1 Consolidated Financial Results

    1. Outline of FY2026 H1 Consolidated Financial Results 3 Copyright © SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. All rights reserved.

  4. Slide 4: FY2026 H1 Consolidated Financial Results Highlights

    FY2026 H1 Consolidated Financial Results Highlights ◼ Revenue and profit exceeded the revised H1 forecasts announced on August 5. ◼ A record high revenue (+19% YoY) is mainly due to a timing difference in CRO Business, where several projects’ revenue recognition originally expected in FY2025 was def

  5. Slide 5: FY2026 H1 Earnings Structure

    FY2026 H1 Earnings Structure FY2024 FY2025 FY2026 (¥ million) Increase H1 H1 H1 Revenue 12,508 14,766 17,568 +2,801 Revenue related to several CRO projects carried over Cost of Revenue 5,985 8,089 8,804 +715 from FY2025 was recognized in CRO Business. Labor Cost 3,831 4,019 5,149 +1,129 Depreciation

  6. Slide 6: FY2026 H1 Earnings Structure by Segment

    FY2026 H1 Earnings Structure by Segment FY2024 FY2025 FY2026 YoY (¥ million) H1 H1 H1 Change Revenue 12,179 14,147 16,929 19.7% Higher facility utilization driven by revenue OP 2,266 2,206 4,009 81.7% growth. OP Ratio 18.6% 15.6% 23.7% -- CRO Business Share of profit of entities accounted for using

  7. Slide 7: Orders Received and Backlog in Nonclinical Business

    Orders Received and Backlog in Nonclinical Business Quarterly Orders Received in Nonclinical Business (¥ million) FY2024 FY2025 FY2026 Full- Full- Full- Q1 Q2 H1 Q3 Q4 Q1 Q2 H1 Q3 Q4 Q1 Q2 H1 year year year (E) Orders Received 7,170 8,141 15,311 7,364 9,434 32,109 8,095 7,691 15,787 10,000 9,941 35,

  8. Slide 8: FY2026 Consolidated Financial Forecast

    FY2026 Consolidated Financial Forecast FY2026 (¥100 million) FY2025 Full Year Forecast YoY Change Revenue 325.2 380.0 +54.8 +16.8% Operating Profit 26.5 30.0 +3.5 +13.0% Ordinary Profit 58.3 60.0 +1.7 +2.9% Profit Attributable to Owners of Parent 45.6 35.0 -10.6 -23.4% Estimated FX Sensitivity (H2)*

  9. Slide 9: FY2026 Consolidated Financial Forecast by Segment

    FY2026 Consolidated Financial Forecast by Segment FY2024 FY2025 FY2026 YoY (¥ million) Full-year Full-year Full-year Change (E) Revenue 31,595 31,277 36,682 17.3% OP 7,258 6,908 8,927 29.2% Higher facility utilization driven by revenue OP Ratio 23.0% 22.1% 24.3% -- growth. CRO Business Share of prof

  10. Slide 10: Capex

    Capex Continuing investment to further boost orders from U.S. and European clients. (¥100 million) 120 113.9 110.9 7.9 100 3.2 35.3 85.3 21.4 80 0.8 32.0 50.8 （H1 Progress） 60 37.2 53.0 1.3 1.4 3.3 2.2 1.1 40 26.5 78.4 20.5 30.9 20 40.7 25.4 27.9 16.6 0 FY 2023 FY 2024 FY 2025 FY2026 （E） FY2026 H1 C

  11. Slide 11: 2. Business Topics: I. CRO (Nonclinical)

    2. Business Topics: I. CRO (Nonclinical) 11 Copyright © SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. All rights reserved.

  12. Slide 12: CRO Business: FY2026 H1 Nonclinical Orders (in JPY)

    CRO Business: FY2026 H1 Nonclinical Orders (in JPY) (¥100 million) Contracted Studies – Contracted Studies – YoY ＋¥3.85bn Domestic Cancelled Before Start Overseas Cancelled Before Start Exchange rate (Domestic) (Overseas) (average for the period) 250 Q1：¥160.72/$ Q2：¥159.35/$ 5-Year CAGR of Total Or

  13. Slide 13: CRO Business: FY2026 H1 Nonclinical Orders from Overseas (in USD)

    CRO Business: FY2026 H1 Nonclinical Orders from Overseas (in USD) （＄M） Contracted Contracted Studies – Studies Cancelled Before Start 60 2.0 50 5-Year CAGR of Overseas Orders: 21% YoY ＋$15.6M 6.1 40 YoY ＋$6.4M 30 14.8 5.4 56.2 2.4 • Includes SNBL INA Ltd. from 20 3.0 4.8 40.6 Q2 FY2022 24.5 23.6 0.4

  14. Slide 14: CRO Business: Changes in Amounts of Submitted Estimates

    CRO Business: Changes in Amounts of Submitted Estimates (¥100 million) 320 298 Domestic EU&US Asia 280 69 240 54 42 71 35 200 44 23 27 39 160 50 40 43 87 112 149 40 110 32 74 52 120 42 37 24 70 79 100 34 17 43 46 11 54 42 16 14 41 80 30 28 31 23 43 21 24 23 99 101 110 109 100 40 91 85 92 91 95 80 80

  15. Slide 15: CRO Business: Inquiries in FY2026 H1

    CRO Business: Inquiries in FY2026 H1 (¥100 million) Domestic EU&US Asia Domestic EU&US Asia 300 300 267.6 267.6 ＋12.0 250 250 217.7 82.6 ＋61.8 82.6 200 200 70.6 171.2 ＋39.5 ＋23.8 20.8 150 150 114.0 114.0 74.5 100 90.2 100 －4.9 ＋14.2 50 50 71.0 75.9 71.0 56.8 0 0 As of Jun 30, 2026 As of Sep 30, 2026

  16. Slide 16: CRO Business: Topics on Nonclinical Orders for FY2026 H1 (1)

    CRO Business: Topics on Nonclinical Orders for FY2026 H1 (1) Domestic Decreased by ¥289 million YoY (-3%). Primarily due to an increase in study cancellations prior to start resulting from revisions to development plans by certain customers (¥558 million increase YoY). Orders increased in Q2 YoY, al

  17. Slide 17: CRO Business: Topics on Nonclinical Orders for FY2026 H1 (2)

    CRO Business: Topics on Nonclinical Orders for FY2026 H1 (2) EU&US Increased by USD15.6M YoY (+38%). Growth was driven primarily by increased demand for NHP studies, one of our core strengths. Conducted more than 100 face-to-face meetings through direct visits to customers' premises, customers' visi

  18. Slide 18: CRO Business: Topics on Nonclinical Orders for FY2026 H1 (3)

    CRO Business: Topics on Nonclinical Orders for FY2026 H1 (3) EU&US Customer Base Our customer base is primarily composed of publicly listed biotech companies with multiple development pipelines, providing a foundation for stable recurring orders. We have contracts with, or active opportunities invol

  19. Slide 19: 2. Business Topics: II. CRO (Clinical)

    2. Business Topics: II. CRO (Clinical) 19 Copyright © SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. All rights reserved.

  20. Slide 20: Clinical Business

    Clinical Business ◼ PPD-SNBL’s “Equity Method Investment Gain” for H1 was ¥1,406 million (+ ¥197 million YoY). ◼ Operating profit increased YoY, with the operating profit margin remaining high at 44.4%. （Unit:￥M） PPD-SNBL Business Performance and SNBL's Equity Method Investment Gain (EMIG) 25,000 No

  21. Slide 21: 2. Business Topics: III. Translational Research (TR)

    2. Business Topics: III. Translational Research (TR) 21 Copyright © SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. All rights reserved.

  22. Slide 22: TR Business: Third Growth Engine — Portfolio Strategy

    TR Business: Third Growth Engine — Portfolio Strategy ◼ Maximize revenue with a business model built on our nasal platform "SMART“. ◼ Combine businesses at different stages, balancing risk, return and timing. Business R&D Mfg. & Commercialization (only approved in the United States) Commercial Acute

  23. Slide 23: TR Business: Atzumi U.S. Commercialization Strategy

    TR Business: Atzumi U.S. Commercialization Strategy ◼ Under the leadership of a management team with in-depth expertise in the migraine field and a proven track record in obtaining FDA approval, launching, and marketing new drugs in the U.S., Satsuma is currently advancing the commercialization of A

  24. Slide 24: TR Business: Atzumi U.S. Commercialization Progress

    TR Business: Atzumi U.S. Commercialization Progress ◼ Sales and supply preparations are on track for the in-house U.S. launch in the second half of calendar year 2027. ◼ Building the launch framework across manufacturing, distribution, and commercial. Key Initiatives to Build the Launch Framework Ma

  25. Slide 25: TR Business: U.S. Physician Evaluation of Atzumi

    TR Business: U.S. Physician Evaluation of Atzumi ◼ Updated market research confirms expectations for Atzumi as a new option to existing drugs for migraine patients. ◼ Atzumi ’s SMART-based portability, ease of use, and powder benefits were highlighted. Interview Overview Only DHE nasal powder Method

  26. Slide 26: 2. Business Topics: IV. Medipolis

    2. Business Topics: IV. Medipolis 26 Copyright © SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. All rights reserved.

  27. Slide 27: Medipolis Business (Social Benefits Generation Business)

    Medipolis Business (Social Benefits Generation Business) ◼ Operating loss was ¥70 million (down ¥84 million YoY), reflecting 12-year periodic inspection costs in the Power Generation Business. ◼ Preparing for the demonstration of closed-loop geothermal power generation with Mitsui Fudosan and other

  28. Slide 28: Financial Data

    Financial Data FY 3/2027 FY 3/2022 FY 3/2023 FY 3/2024 FY 3/2025 FY 3/2026 (In millions of yen) Forecast Revenue 17,748 25,090 26,450 32,413 32,524 38,000 YoY(%) 17.5% 41.4% 5.4% 22.5% 0.3% 16.8% Gross profit 9,687 13,046 14,282 16,960 16,238 19,107 Ratio of gross profit to revenue (%) 54.6% 52.0% 5

  29. Slide 29: Cautionary Notes

    Cautionary Notes 1. Projected results are based on information available to the Company at the time of writing, as well as certain assumptions judged by the Company to be reasonable. Various risks and uncertain factors could cause actual results to differ materially from these projections. This mate

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