Third Quarter Business Results for Fiscal Year 2022
February 6, 2023
Director, and CFO
Muneki Handa
agenda
01
02
03
Third Quarter Business Results for FY 2022
Initiatives and Progress for
Domestic Business and China Business
FY 2022 Earnings Forecast
2
Roadmap for the Realization of the TSUMURA VISION
"Cho-WA" 2031
1st stage
FY2022-2024
-Germination-
2nd stage
FY2025-2027
-Growth-
3rd stage
FY2028-2031
-Flowering-
Prescription Kampo
Products
Standardization of Kampo treatments
Personalized Kampo treatments
Over 50% physicians write 10 or more Kampo prescriptions
50% of physicians write basic |
prescriptions in all treatment areas |
R&D
Personalized Kampo
treatmentsResearch Scientific study of pre-
symptomatic diseases
Development
Social
implementation
Chinese
operations
Formulation
platform
Crude drug
platform
Research
platform
Traditional Chinese medical products business
Crude drugs, drug pieces and Yakushokudogen products
Traditional Chinese Medicine Research Center
Market
entry
Sales
expansion
Establishment
Build
foundations
Establish brands
Function
expansion
Establish brands
Lead industry development
Evidence-building for traditional
Chinese medical products
Smart factory
Expand scope of
automation
Shift to oversight/management
Realize smart factories
Labor
productivity
Sales
Production
Crude drugs
Sales per MR (Yen/MR)
Physical labor productivity
Personnel expenses per crude drug arranging volume
Double productivity | |
(vs. FY2021) | 3 |
3Q Business Results for FY 2022
3Q | 3Q | YoY | ||
【Million yen】 | FY 2021 | FY2022 | ||
results | results | Amount | Change | |
Sales | 98,382 | 107,076 | +8,694 | +8.8% |
Domestic business | － | 96,355 | － | － |
China business | － | 10,721 | － | － |
Operating profit | 18,829 | 17,723 | （1,106） | （5.9）% |
Domestic business | － | 17,882 | － | － |
China business | － | （159） | － | － |
Ordinary profit | 21,074 | 21,410 | +335 | +1.6% |
Profit | 15,389 | 15,875 | +486 | +3.2% |
attributable to owners of parent | ||||
PL translation rate (CNY) | 16.78 | 19.41 | +2.63 | － |
*Forex rate at the time overseas subsidiaries' PLs were incorporated; differs from the import rate for raw material crude drugs
Ratio to total sales
Prescription
Kampo Products
86.0%
External sales by
consolidated subsidiaries 10.7%
OTC Kampo etc 3.1%
Other prescription pharmaceuticals 0.2%
4
Key Points in Performance
Sales and profit attributable to owners of parent rose owing to growth in Japan and in the China business (but operating profit was down)
Net sales
107,076 | million yen | YoY | ＋8.8％ |
- Domestic business sales of the 129 prescription Kampo products: 91,941 million yen, rose 5.3％ year-on-year
Sales of OTC Kampo formulations and other healthcare products: 3,358 million yen, increased 18.8％ year-on-year - China business sales: 10,721 million yen
Operating profit | 17,723 | million yen | YoY | (5.9％) |
Operating profit | 16.6 | ％ | YoY | (2.5pt) |
margin | ||||
- Cost-to-salesratio: 50.9％, up 2.1pt year-on-year; Mainly impact from an expansion in external sales in China and soaring cost for materials other than raw material crude drugs
- SG&A ratio: 32.5％, up 0.4pt year-on-year; Chiefly reflects one-off expense for full-scale operations at the Tianjin Plant
Ordinary profit | 21,410 | million yen | YoY | ＋1.6％ |
- Foreign exchange gain primarily related to loans to overseas subsidiaries: 2,906 million yen, up 1,485 million yen year-on-year(impact from the yen's devaluation)
Profit | 15,875 | million yen | YoY | ＋3.2％ | |
attributable to owners of parent | |||||
◼ Extraordinary income: Refund margin owing to a reduction in paid-in capital at affiliates: 463 million yen | 5 |
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