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Income Statement

Financial highlights (Core results)

(Billions of Yen)
      2014 2015 2016
Revenues 461.1 498.8 491.8
  Sales 436.9 468.4 472.7
  excl. Tamiflu® 423.8 460.2 459.2
Domestic 349.5 378.0 379.7
Sales to Roche 55.1 63.1 62.8
Overseas 19.3 19.1 16.8
Tamiflu® sales 13.0 8.2 13.5
Ordinary use 12.9 8.2 12.0
Govt. stockpiles etc. 0.2 0.0 1.5
Royalties and other operating income 24.2 30.4 19.1
Cost of sales (217.0) (238.9) (246.7)
(% of Sales) 49.7 51.0 52.2
Gross profit 244.2 260.0 245.0
(% of Revenues) 53.0 52.1 49.8
Operating expenses (166.8) (169.3) (164.5)
(% of Revenues) 36.2 33.9 33.4
  Marketing and distribution (71.7) (74.7) (69.8)
(% of Revenues) 15.5 15.0 14.2
Research and development (80.6) (81.9) (82.6)
(% of Revenues) 17.5 16.4 16.8
General and administration (14.6) (12.8) (12.1)
(% of Revenues) 3.2 2.6 2.5
Operating profit 77.3 90.7 80.6
(% of Revenues) 16.8 18.2 16.4
Financing costs (0.0) (0.1) (0.1)
Other financial income (expense) 0.3 0.6 1.1
Other expense - - (3.5)
Profit before taxes 77.6 91.2 78.1
(% of Revenues) 16.8 18.3 15.9
Income taxes (24.6) (26.3) (21.3)
Net income 53.0 64.9 56.8
(% of Revenues) 11.5 13.0 11.5
Attributable to      
  Chugai shareholders 51.9 63.7 56.1
Non-controlling interests 1.1 1.2 0.8
Weighted average number of shares in issue used to calculate diluted earnings per share (million shares) 546 547 547
Core earnings per share (diluted) (yen) 95.04 116.42 102.50
Core payout ratio (%) 50.5 49.8 50.7
  Dividend per share (Full year) (yen) 48 58 52
Dividend per share (Half year) (yen) 22 26 26

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
Cost Structure
Amounts are rounded to the nearest 0.1 billion yen.
Variance and % are calculated based on amounts shown.