Latest Results

FY2020 3Q Consolidated Financial Overview

IFRS results

Revenues for the nine months under review were ¥576.5 billion (an increase of 13.3% year on year), operating profit for the nine months under review was ¥227.3 billion (an increase of 41.3% year on year), and net income for the nine months under review was ¥162.4 billion (an increase of 38.3% year on year). These results include non-Core items, such as amortization of intangible assets of ¥1.0 billion, impairment loss of intangible assets of ¥0.1 billion, restructuring expenses of ¥3.4 billion, and expenses for environmental measures of ¥0.1 billion, which are excluded from the Core results that Chugai adopts to manage recurring business activities.

Core results

Revenues for the nine months under review were ¥576.5 billion (an increase of 13.3% year on year), due to increases both in overseas sales and royalties and other operating income, even as domestic sales declined.

Of revenues, sales were ¥464.8 billion (an increase of 5.5% year on year), due to an increase in overseas sales, such as export of Actemra® to Roche, including those for clinical trials for COVID-19 pneumonia, and the commencement of export of Hemlibra® to Roche at a regular shipment price, although domestic sales declined mainly as a result of the NHI drug price revisions of April 2020. Royalties and other operating income amounted to ¥111.7 billion (an increase of 63.3% year on year), due to a large increase in royalties for Hemlibra® and its profit-sharing income as well as an increase in other operating income resulting from one-time income. Furthermore, cost to sales ratio was 43.1%, a 2.6 percentage point improvement year on year, mainly due to an increase in the share of our own products, such as Hemlibra®, in the product mix, etc. As a result, gross profit amounted to ¥376.2 billion (an increase of 22.3% year on year).

Operating expenses were ¥144.3 billion (an increase of 5.7% year on year). Marketing and distribution expenses were ¥49.0 billion (a decrease of 3.9% year on year), due to refraining from domestic business activities caused by the spread of COVID-19. Research and development expenses amounted to ¥82.2 billion (an increase of 14.2% year on year) due to an increase in expenses associated with the progress of projects, etc. General and administration expenses amounted to ¥13.1 billion (a decrease of 3.0% year on year) primarily due to a decrease in various expenses. As a result, Core operating profit was ¥231.9 billion (an increase of 35.5% year on year) and Core net income was ¥165.6 billion (an increase of 33.0% year on year).

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Financial Results

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