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Income Statement

Financial highlights (Core results)

(Billions of Yen)
      2013 2014 2015 2016 2017
Revenues 423.7 461.1 498.8 491.8 534.2
  Sales 401.3 436.9 468.4 472.7 499.3
  excl. Tamiflu® 390.2 423.8 460.2 459.2 482.4
Domestic 329.2 349.5 378.0 379.7 388.4
Sales to Roche 42.9 55.1 63.1 62.8 76.4
Overseas 18.1 19.3 19.1 16.8 17.7
Tamiflu® sales 11.0 13.0 8.2 13.5 16.9
Ordinary use 10.1 12.9 8.2 12.0 11.9
Govt. stockpiles etc. 0.9 0.2 0.0 1.5 5.0
Royalties and other operating income 22.4 24.2 30.4 19.1 34.9
Cost of sales (186.1) (217.0) (238.9) (246.7) (252.9)
(% of Sales) 46.4 49.7 51.0 52.2 50.7
Gross profit 237.6 244.2 260.0 245.0 281.3
(% of Revenues) 56.1 53.0 52.1 49.8 52.7
Operating expenses (157.7) (166.8) (169.3) (164.5) (178.1)
(% of Revenues) 37.2 36.2 33.9 33.4 33.3
  Marketing and distribution (71.5) (71.7) (74.7) (69.8) (72.8)
(% of Revenues) 16.9 15.5 15.0 14.2 13.6
Research and development (74.1) (80.6) (81.9) (82.6) (88.9)
(% of Revenues) 17.5 17.5 16.4 16.8 16.6
General and administration (12.1) (14.6) (12.8) (12.1) (16.3)
(% of Revenues) 2.9 3.2 2.6 2.5 3.1
Operating profit 79.9 77.3 90.7 80.6 103.2
(% of Revenues) 18.9 16.8 18.2 16.4 19.3
Financing costs (0.0) (0.0) (0.1) (0.1) (0.1)
Other financial income (expense) (1.8) 0.3 0.6 1.1 (0.1)
Other expense - - - (3.5) (1.7)
Profit before taxes 78.1 77.6 91.2 78.1 101.3
(% of Revenues) 18.4 16.8 18.3 15.9 19.0
Income taxes (25.5) (24.6) (26.3) (21.3) (24.5)
Net income 52.6 53.0 64.9 56.8 76.7
(% of Revenues) 12.4 11.5 13.0 11.5 14.4
Attributable to          
  Chugai shareholders 51.6 51.9 63.7 56.1 75.9
Non-controlling interests 1.0 1.1 1.2 0.8 0.8
Weighted average number of shares in issue used to calculate diluted earnings per share (million shares) 545 546 547 547 547
Core earnings per share (diluted) (yen) 94.69 95.04 116.42 102.50 138.68
Core payout ratio (%) 47.5 50.5 49.8 50.7 44.7
  Dividend per share (Full year) (yen) 45 48 58 52 62
Dividend per share (Half year) (yen) 22 22 26 26 29

Core earnings per share (diluted) (yen) : Net income attributable to Chugai shareholders / Weighted average number of shares in issue used to calculate diluted earnings per share
Other financial income (expense) includes net amount of FX related gains/losses.

Core Operating Profit
Core R&D Expense
Core Cost Structure
Amounts are rounded to the nearest 0.1 billion yen.
Variance and % are calculated based on amounts shown.