Tsumura: Supplementary Materials The Fiscal Year Ended March 31, 2026

Consolidated Statements of Income

・・・ ・・

1

Investments and Depreciation, Consolidated Number of Employees

・・・ ・・

1

Sales by Business/Product Group

・・・ ・・

2

Sales and growth rate of 129 prescription Kampo formulations

・・・ ・・

2

Consolidated Balance Sheets

・・・ ・・

3

Consolidated Statements of Cash Flows

・・・ ・・

3

Quarterly data

Consolidated Statements of Income

・・・ ・・

4

Sales by Business/Product Group

・・・ ・・

4

Consolidated Balance Sheets

・・・ ・・

5

Consolidated Statements of Cash Flows

・・・ ・・

5

Sales of 129 prescription Kampo formulations

・・・ ・・

6

FY2025

FY2026

Year-on-year

FY2025

Plan*

Vs.planned

Amount

% of sales

Amount

% of sales

Amount

%

Plan

variance

Achievement Rate

YoY

(Amount)

YoY

(%)

Net sales

181,093

100.0%

192,615

100.0%

11,521

6.4%

198,000

100.0%

(5,384)

97.3%

Domestic business

160,459

88.6%

161,172

83.7%

712

0.4%

167,900

84.8%

(6,727)

96.0%

China business

20,633

11.4%

31,442

16.3%

10,809

52.4%

30,100

15.2%

1,342

104.5%

Cost of sales

90,509

50.0%

101,098

52.5%

10,588

11.7%

107,000

54.0%

(5,901)

94.5%

Gross profit on sales

90,583

50.0%

91,516

47.5%

932

1.0%

91,000

46.0%

516

100.6%

Selling, general and

administrative expenses

50,458

27.9%

56,296

29.2%

5,838

11.6%

56,000

28.3%

296

100.5%

Personnel expenses

19,503

10.8%

22,056

11.5%

2,553

13.1%

22,300

11.3%

(243)

98.9%

R&D expenses

8,355

4.6%

8,484

4.4%

128

1.5%

8,000

4.0%

484

106.1%

Operating profit

40,125

22.2%

35,219

18.3%

(4,905)

(12.2)%

35,000

17.7%

219

100.6%

Domestic business

40,136

ー

35,024

ー

(5,112)

(12.7)%

35,500

ー

(475)

98.7%

China business

(10)

ー

195

ー

206

ー

(500)

ー

695

ー

Ordinary profit

42,446

23.4%

40,036

20.8%

(2,410)

(5.7)%

34,500

17.4%

5,536

116.0%

Profit attributable to

owners of parent

32,428

17.9%

28,117

14.6%

(4,311)

(13.3)%

24,300

12.3%

3,817

115.7%

Full-year forecast for FY 2027

Amount

% of sales

YoY

(Amount)

YoY

(%)

Net sales

213,600

100.0%

20,984

10.9%

Domestic business

167,600

78.5%

6,427

4.0%

China business

46,000

21.5%

14,557

46.3%

Cost of sales

114,700

53.7%

13,601

13.5%

Gross profit on sales

98,900

46.3%

7,383

8.1%

Selling, general and

administrative expenses

61,400

28.7%

5,103

9.1%

Personnel expenses

23,400

11.0%

1,343

6.1%

R&D expenses

9,100

4.3%

615

7.3%

Operating profit

37,500

17.6%

2,280

6.5%

Domestic business

34,800

ー

(224)

(0.6)%

China business

2,700

ー

2,504

1281.4%

Ordinary profit

35,500

16.6%

(4,536)

(11.3)%

Profit attributable to

owners of parent

26,200

12.3%

(1,917)

(6.8)%

FY2025

FY2026

Year-on-year

FY2025

Plan*

Vs.planned

Amount

% of sales

Amount

% of sales

Amount

%

Plan

variance

Achievement Rate

YoY

(Amount)

YoY

(%)

Investments

31,077

17.2%

37,489

19.5%

6,412

20.6%

44,500

22.5%

(7,010)

84.2%

Capital investments

28,650

15.8%

35,349

18.4%

6,699

23.4%

41,000

20.7%

(5,650)

86.2%

Depreciation

10,620

5.9%

12,291

6.4%

1,670

15.7%

10,800

5.5%

1,491

113.8%

Full-year forecast for FY 2026

Amount

% of sales

YoY

(Amount)

YoY

(%)

Investments

50,200

23.5%

12,710

33.9%

Capital investments

46,900

22.0%

11,550

32.7%

Depreciation

13,500

6.3%

1,208

9.8%

FY2025

FY2026

Number of Employees

4,233

4,923

FY 2024

FY 2025

Year-on-year

Amount

%

Domestic business

160,459

161,172

712

0.4%

129 prescription Kampo formulations

154,072

153,918

(154)

(0.1)%

Healthcare products (OTC Kampo, etc.)

5,284

6,206

922

17.4%

Others(dispensing powder, chopped crude drugs)

1,102

1,047

(54)

(5.0)%

China Business

20,633

31,442

10,809

52.4%

Raw material crude drugs

17,129

18,419

1,289

7.5%

Drug pieces

2,634

12,427

9,793

371.7%

Health products, etc.

869

595

(273)

(31.5)%

Rank

No.

Product Name

FY 2024

FY 2025

Increase /decrease amount

Increase /decrease

%

1

☆

100

Daikenchuto (大建中湯)

14,769

14,688

(81)

(0.5)%

2

☆

54

Yokukansan (抑肝散)

11,147

11,053

(93)

(0.8)%

3

G

17

Goreisan (五苓散)

7,376

8,338

962

13.0%

4

G

41

Hochuekkito (補中益気湯)

7,597

7,451

(146)

(1.9)%

5

☆

43

Rikkunshito (六君子湯)

7,199

7,205

6

0.1%

6

68

Shakuyakukanzoto (芍薬甘草湯)

6,806

6,846

39

0.6%

7

☆

107

Goshajinkigan (牛車腎気丸)

5,583

5,623

40

0.7%

8

62

Bofutsushosan (防風通聖散)

5,554

5,355

(198)

(3.6)%

9

G

24

Kamishoyosan (加味逍遙散)

4,917

5,043

125

2.6%

10

1

Kakkonto (葛根湯)

4,982

4,742

(240)

(4.8)%

18

G

137

Kamikihito (加味帰脾湯)

2,238

2,405

166

7.5%

19

G

108

Ninjinyoeito (人参養栄湯)

2,234

2,107

(126)

(5.7)%

24

☆

14

Hangeshashito (半夏瀉心湯)

1,464

1,546

81

5.6%

Total of Drug-fostering Program formulations

40,163

40,117

(45)

(0.1)%

Total of "Growing" formulations

24,364

25,346

982

4.0%

Total of 129 prescription Kampo formulations

154,072

153,918

(154)

(0.1)%

FY 2020

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025 1Q

FY 2025 2Q

(Interim Period) Cumulative

FY 2025 3Q

Cumulative

FY 2025

Cumulative

Amount

1.1%

8.1%

4.6%

5.9%

21.9%

(4.1)%

(1.1)%

1.6%

(0.1)%

Quantity

2.1%

7.7%

4.7%

2.5%

0.8%

(3.3)%

(0.3)%

2.2%

0.3%

Number of items with

higher yen sales

82

110

98

94

84

49

58

70

61

FY2024

FY 2025

Increase/decrease amount

Total assets

464,380

592,766

128,385

Current assets

295,709

349,212

53,502

Liquid assets

141,244

156,330

15,085

Inventories

133,784

164,006

30,221

Non-current assets

168,670

243,553

74,883

Property, plant and equipment

128,246

166,940

38,693

Total liabilities

134,270

221,162

86,892

Current liabilities

61,913

83,257

21,344

Non-current liabilities

72,357

137,904

65,547

Total net assets

330,110

371,603

41,493

FY2024

FY 2025

Increase/decrease amount

Cash flows from operating activities

33,823

24,718

(9,104)

Cash flows from investing activities

(24,974)

(50,309)

(25,334)

Cash flows from financing activities

(19,871)

32,603

52,474

Cash and cash equivalents at end of period

73,135

78,261

5,126

FY 2024

FY 2025

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

Net sales

43,690

45,380

47,702

44,319

43,094

46,802

55,278

47,439

Domestic business

40,134

39,839

42,906

37,578

38,871

40,668

46,004

35,628

China business

3,556

5,541

4,795

6,741

4,223

6,134

9,274

11,810

Cost of sales

20,858

22,342

23,767

23,542

22,576

23,841

29,338

25,341

Gross profit on sales

22,832

23,038

23,935

20,777

20,518

22,960

25,940

22,097

Selling, general and

12,257

12,538

12,629

13,032

12,798

13,560

14,197

15,739

Personnel expenses

5,050

4,915

4,776

4,760

5,086

5,550

5,509

5,910

R&D expenses

2,269

1,968

1,963

2,154

2,212

1,776

2,237

2,258

Operating profit

10,575

10,500

11,305

7,745

7,719

9,400

11,742

6,357

Domestic business

10,713

10,482

11,371

7,568

7,981

9,154

11,075

6,813

China business

(138)

17

(66)

176

(261)

246

666

(455)

Ordinary profit

14,118

9,284

11,749

7,294

6,181

10,237

15,488

8,128

Profit attributable to owners of parent

11,180

6,322

9,064

5,861

4,367

8,110

10,673

4,966

FY 2024

FY 2025

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

Domestic business

40,134

39,839

42,906

37,578

38,871

40,668

46,004

35,628

129 prescription Kampo formulations

38,820

38,280

40,802

36,168

37,223

39,049

43,542

34,101

Healthcare products (OTC Kampo, etc.)

985

1,240

1,811

1,246

1,375

1,343

2,199

1,287

Others(dispensing powder, chopped crude drugs)

327

318

292

163

271

274

261

239

China Business

3,556

5,541

4,795

6,741

4,223

6,134

9,274

11,810

Raw material crude drugs

2,894

4,683

4,011

5,540

3,477

5,327

4,043

5,571

Drug pieces

509

691

623

810

606

635

5,115

6,070

Health products, etc.

151

166

160

390

138

171

116

168

FY 2024

FY 2025

The end of

1Q

The end of

2Q

The end of

3Q

The end of

4Q

The end of

1Q

The end of

2Q

The end of

3Q

The end of

4Q

Total assets

445,163

453,462

463,807

464,380

465,585

516,486

549,684

592,766

Current assets

297,395

300,784

306,610

295,709

299,261

311,075

331,558

349,212

Liquid assets

149,060

149,582

155,075

141,244

145,353

148,196

155,449

156,330

Inventories

126,911

131,492

128,646

133,784

134,226

141,237

150,839

164,006

Non-current assets

147,768

152,678

157,197

168,670

166,323

205,411

218,126

243,553

Property, plant and equipment

105,644

111,398

118,448

128,246

126,284

146,614

156,985

166,940

Total liabilities

137,611

129,588

145,484

134,270

146,289

189,998

211,040

221,162

Current liabilities

73,718

55,715

73,433

61,913

70,305

103,368

125,058

83,257

Non-current liabilities

63,892

73,872

72,051

72,357

75,984

86,630

85,982

137,904

Total net assets

307,552

323,873

318,322

330,110

319,295

326,487

338,643

371,603

FY 2024

FY 2025

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

Cash flows from operating activities

(1,377)

18,478

5,371

11,351

(1,168)

11,081

(5,866)

20,672

Cash flows from investing activities

(567)

(7,213)

(3,894)

(13,298)

(3,057)

(20,555)

(12,209)

(14,486)

Cash flows from financing activities

(3,782)

(8,540)

3,812

(11,361)

17,242

1,687

15,528

(1,855)

Cash and cash equivalents at end of period

72,530

82,289

82,942

73,135

82,201

71,680

69,237

78,261

No. / Product Name

FY 3/2025

FY 3/2026

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

100 / Daikenchuto (大建中湯)

3,877

3,632

3,857

3,401

3,632

3,729

4,064

3,262

54 / Yokukansan (抑肝散)

3,040

2,775

2,786

2,544

2,763

2,836

3,029

2,423

43 / Rikkunshito (六君子湯)

1,757

1,823

1,904

1,712

1,725

1,874

2,026

1,578

107 / Goshajinkigan (牛車腎気丸)

1,467

1,362

1,451

1,301

1,391

1,392

1,564

1,275

14 / Hangeshashinto (半夏瀉心湯)

358

367

387

350

366

393

439

347

Total of Drug-fostering Program formulations

10,502

9,962

10,387

9,311

9,879

10,226

11,124

8,887

17 / Goreisan (五苓散)

2,090

1,807

1,853

1,625

2,022

2,276

2,227

1,811

41 / Hochuekkito (補中益気湯)

1,800

2,137

1,942

1,718

1,749

2,116

2,104

1,480

24 / Kamishoyosan (加味逍遙散)

1,199

1,242

1,344

1,130

1,197

1,315

1,444

1,084

137 / Kamikihito (加味帰脾湯)

539

586

615

497

577

630

700

496

108 / Ninjinyoeito (人参養栄湯)

527

557

560

588

462

540

633

470

Total of "Growing" formulations

6,157

6,330

6,315

5,560

6,011

6,878

7,111

5,345

Total of Drug-fostering Program

formulations and "Growing" formulations

16,659

16,292

16,702

14,872

15,890

17,105

18,235

14,233

Total of 129 prescription Kampo formulations

38,820

38,280

40,802

36,168

37,223

39,049

43,542

34,101