Towa Pharmaceutical : FY2025(3rd quarter) Supplementary Material of Financial Results(701K／24P)

2026

• In this document, for the breakdown of the domestic segment,

  Towa Pharmaceutical, J-Dolph Pharmaceutical, Daichi Kasei, Greencaps Pharmaceutical, and Kyushu Iyaku are referred to as "Towa Pharmaceutical, etc.," and Sunsho Pharmaceutical and Sun Freres Lab. are referred to as "Sunsho Pharmaceutical, etc."

  On April 1, 2025, the Company carried out an absorption-type merger with Sunsho Pharmaceutical as the surviving company and KAMATA as the disappearing company.

  Towa Pharma International Holdings, S.L., our overseas segment, is referred to as "Towa INT."

  Towa Pharmaceutical, etc. Sunsho Pharmaceutical, etc. Towa INT

  Towa Pharmaceutical

  J-Dolph

  Pharmaceutical

  Daichi Kasei

  Greencaps

  Pharmaceutical

  Kyushu Iyaku

  Sunsho

  Pharmaceutical

  Towa Pharma

  International Holdings

  Sun Freres

  Lab.

  Towa Pharma

  Europe

  Breckenridge

  Pharmaceutical

  Towa Pharmaceutical

  2026 1

  
  
  Table of contents
  1. Outline of financial results for 2026/3 3Q
  2. Reference materials

  2026 2

  
  
  Table of contents
  1. Outline of financial results for 2026/3 3Q

  2. Reference materials

  2026 3

  
  
  Overall review of financial results for 2026/3 3Q
• YoY change: Net sales and profit increased on a consolidated basis.

  Net sales increased due to a rise in sales volume following an increase in production volume at Towa Pharmaceutical, growth in the domestic health food business at Sunsho Pharmaceutical, and an increase in contract manufacturing in European BtoB at Towa INT.

  Gross profit increased as an increase in sales at Towa Pharmaceutical and a drop in the cost of sales ratio due to an increase in production

  volume at Towa INT outweighed a rise in the cost of sales ratio due to a worsening business mix at Sunsho Pharmaceutical.

  Operating profit increased as increases in SG&A expenses in all three categories was more than offset by an increase in gross profit at Towa Pharmaceutical and Towa INT.

  Ordinary profit increased due to the posting of a 4.5 billion yen gain on valuation of derivatives.

• Progress rate for the full-year plan: Net sales: 72.9%, Operating profit: 72.2% on a consolidated basis

The progress rate for net sales remained sluggish as there were products at Towa Pharmaceutical whose growth after the lifting of regulated shipments was less than expected.

The progress rate for operating profit remained sluggish as the cost of sales ratio rose more than expected at Sunsho Pharmaceutical due to a

worsening business mix.

The progress rate for ordinary profit was strong due to the posting of a 4.5 billion yen gain on valuation of derivatives, which had not been included in the plan.

2026 4

2026