Results Briefing Junichi Yoshii President & Representative Director

Transcription

1 Fiscal Year Ending March 2010 Results Briefing Junichi Yoshii President & Representative Director May 14,

2 Overview of Results (Consolidated) (Million yen) Net sales Operating profit Recurring income Net income Operating profit margin ROA (Return on assets) Plan FY 3/2010 Difference from plan / ,455 2,449 Year on year -72 * The plan for 3/2010 is the revised plan announced on February 9,

3 Overview of Results (Difference from plan) (Million yen) Plan FY 3/2010 Difference from plan (Achievement rate) Net sales % Operating profit % Recurring income % Net income % Operating profit margin * The plan for 3/2010 is the revised plan announced on February 9, Difference from plan due to increase in taxes (Difference due to unrecorded taxable depreciation) 3

4 Overview of Results (Year on Year) (Million yen) FY 3/2010 3/2009 Year on year (Change %) Net sales % Operating profit 2, % Recurring income 2, % Net income % Operating profit margin 4

5 Overview of Results (Year on Year) (Million Yen) Year on year (Change %) Factor Net sales 1.0% Increased by 4.7 billion (up 6.0%) for 129 prescription Kampo preparations Decreased by 2.53 billion at TLS, decreased by 1.37 billion at Astat (The impact on sales is estimated to be about 4.3%) Operating profit Recurring income Extraordinary gain Extraordinary loss 14.9% 14.7% - - Due to sales growth and improvements in cost of sales margin and in selling, general and administrative expenses. There were profits on the sale of TLS ( 1.35 billion) and Astat ( 1.74 billion) in the previous fiscal year. - There were costs for the renewal of Shizuoka plant ( 770 million) and loss on impairment of production facilities, etc. ( 650 million) in the previous fiscal year. Income taxes Net income % - - Production facilities, research facilities, land of subsidiaries, etc. 5

6 Results of Tsumura Prescription Kampo Formulations (Actual Sales/Quantity-Based) Growth in actual sales/ quantity FY 3/2010 3/2011 Apr - Dec Jan Feb Mar Apr - Mar Apr Considered the rebound from the reluctance in buying, etc. in the previous period Actual Value 10.0% Considered the reluctance in buying, etc. Actual Value 9.0% 6

7 Analysis of the Growth in Actual Sales of Tsumura Prescription Kampo Formulations Result FY 3/2009 FY 3/ % 7.6% Impact <%> Impact <%> 3 fostered drugs 2 new fostered drugs 12 drugs for colds 112 drugs for others Volatile factors (e.g., rebound, reluctance in buying) Actual Value 7

8 FY Plan (Revised) Original plan FY 3/2011 Revised plan Original plan FY 3/2012 (Million yen) Revised plan Net sales Operating profit Recurring income Net income Operating profit margin Expect to achieve a record net profit 8

9 Sales amount Million yen Management Index (Million yen) Operating profit FY Plan 9

10 Dividend yen Dividend Dividend ratio Plan 10

11 Goals and Action Plan 1. Establish Kampo medicine 2. Promote drug fostering and the evolution of Kampo 6. Create an open company 5. Secure the stable supply of safer botanical raw materials 3. Internationalize Kampo 4. Increase production capacity and enhance the quality control system 11

12 Establishment of Kampo Medicine Change from the end of FY3/2009 to the end of FY3/2010 Support medical schools Providing at at least eight compulsory Kampo courses medical schools medical schools Systems for training lecturers organized by medical schools Establishment of of Kampo clinics for outpatients 12

13 Drug Fostering and Evolution of Kampo Year Total TJ-43 (Rikkunshito) Basic Clinical Basic Clinical TJ-100 (Daikenchuto) Place Period 13

14 Sales of Prescription Kampo Formulations (Shipment) (Million yen) Year-onyear Change % Year-onyear Change % Year-onyear Change % TJ-100 (Daikenchuto) 9.1 % 8.0% 10.6% TJ-43 (Rikkunshito) 16.1 % 16.5% 19.5% TJ-54 (Yokukansan) 75.5 % 80.8% 51.0% Total for 3 fostered drugs 15.9% 18.3% 19.8% TJ-107 (Goshajinkigan) 3.6% 4.6% 6.0% TJ-14 (Hangeshashinto) 5.9% 5.6% 5.4% Total of 129 prescriptions 6.8% 6.9% 6.0% 14

15 Growth in Actual Sales of Tsumura Prescription Kampo Formulations FY 3/2003-3/2007 Five-year average 3/2008 3/2009 3/2010 Quantity-based growth rate Volatile factor -Rebounded in April Reluctance in buying in March -Rebounded in April -Epidemic of cold and pollen allergy -Rebounded in April Epidemic of cold and pollen allergy in the previous year -Reluctance in buying in 4Q Actual Value (Quantity-based growth rate) 15

16 Encourage More Doctors to Learn About Kampo Medicine Many Many doctors doctors in in Japan Japan apply apply both both Western Western medicine medicine and and Kampo Kampomedicine medicine in in the the treatment treatment of of patients. patients. Run this cycle to encourage more doctors to learn about Kampo medicine. Kampo medicine [Kampo Medicine Seminar] Introductory seminar Step-up seminar Newly participate in a seminar Expanded use of Kampo formulation, such as fostered drugs Guide doctors who are interested in Kampo medicine Perceive a clinical significance Doctors University Hospital Hospitals designated for clinical training Hospital Promotion [Prescription of fostered drugs] TJ-100(Daikenchuto) TJ-43(Rikkunshito) TJ-54(Yokukansan) TJ-107(Goshajinkigan) TJ-14(Hangeshashinto) [Prescription of Kampo drugs with a relatively quick effect] TJ-68(Shakuyakukanzoto) TJ-29(Bakumondoto) etc. [Prescription for each area] Internal medicine Gynecology etc. Encourage doctors to learn about Kampo medicine Clinic 16

17 Item Study outline Medical institution Principal Investigator Study design Registered subjects Administration Group Study finding Finding of the TU-100 Daikenchuto s Clinical Pharmacological Study (U.S.) Study of the efficacy of TU-100 Daikenchuto in the food transit time in the stomach, small intestine and large intestine of healthy subjects, as well as the dose-dependent response. Mayo Clinic Dr. M. Camilleri Randomized double-blind comparative pharmacological study 60 subjects Description Group given placebo, group given 7.5g of TU-100 Daikenchuto and group given 15.0g of TU-100 Daikenchuto A study indicates that the healthy subjects in the group treated with TU-100 Daikenchuto enjoyed significantly increased bowel motility compared to those in the placebo group. Posted on the web version of AJP (April 8) Announced in DDW 2010 (May 5/ poster) 17

18 Future Plan of TU-100 Daikenchuto (U.S.) A clinical study for patients will be conducted Overview of Clinical Study Item Description Study title Subject patients Target number of cases Measuring method Daikenchuto s gastrointestinal neuromodulatory effect on the propulsion of small and large intestines, compliance and perception of large intestines, and the bowel functions of patients with functional constipation Functional constipation About 60 (TU-100 group and placebo control group) Scintigraphy Scintigraphy: A diagnostic test that obtains that uses radioisotopes taken internally to capture the radiation and form images 18

19 Capital Investment Plan FY 3/2010 3/2011 3/2012 (Million Yen) Revised plan Result Plan Plan New production facilities (Ibaraki, Shizuoka, Shanghai) New crude drug storage warehouse, etc. (Shenzhen, Ishioka, etc.) Plants/ warehouse maintenance costs and other research instruments, etc. <New> Crude drug warehouse (Shizuoka plant) Switch warehouses leased by third parties to in-house warehouses Three-year total About 25 Capital investment total billion Crude drug storage warehouse, etc. (Yubari, Laos) About 27 Grand Total billion Depreciation No change in the three-year capital investment plan. 19

20 Securing the Stable Supply of Safe Botanical Raw Materials Japan China: Still the main source China Laos Japan: Developing domestic cultivation Laos: Establish a local affiliate LAO TSUMURA CO., LTD. Company name Founded Main businesses Investment ratio LAO TSUMURA CO., LTD. February 19, 2010 Cultivation and processing of crude drugs 100% (TSUMURA & CO.) 20

21 Hokkaido Yubari City YUBARI TSUMURA & CO., LTD Rendering of YUBARI TSUMURA July 2009 October 2009 April 2010 <Plan> November 2010 Opening of an office (in Yubari Citizen Hall) Commencement of cultivation of botanical raw materials in its own farm Beginning construction of a processing plant and a storage warehouse for botanical raw materials Establishment of a processing plant and a storage warehouse for botanical raw materials 21

22 Tsumura s Employment of Disabled People As of April 1, Legal employment rate of disabled people 1.8% 22

23 Trends in the Kampo Industry Price issues ISO development for traditional Chinese medicine 23

24 For further information, contact Investor Relations Group Corporate Communications Department Tsumura & Co. Notes Data and information provided in this document include so-called forward-looking statements. Figures relating to forecasts show our judgments and assumptions based on information available and include risks and uncertainty. Actual results might therefore differ from expected figures. The information on pharmaceuticals included is not intended as advertising or medical advice. 24