Conference on Financial Forecasts Revision for FY2023 and Financial Forecasts for FY2024

Hiroshi Nomura, President and CEO

Sumitomo Pharma Co., Ltd.

May 1, 2024

Disclaimer Regarding Forward-looking Statements

This material contains forecasts, projections, goals, plans, and other forward-looking statements regarding the Group's financial results and other data. Such forward-looking statements are based on the Company's assumptions, estimates, outlook, and other judgments made in light of information available at the time of disclosure of such statements and involve both known and unknown risks and uncertainties.

Accordingly, forecasts, plans, goals, and other statements may not be realized as described, and actual financial results, success/failure or progress of development, and other projections may differ materially from those presented herein.

Information concerning pharmaceuticals and medical devices (including those under development) contained herein is not intended as advertising or as medical advice.

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

1

Revisions to Forecasts of the Consolidated Financial Results for the Year ended March 31, 2024

(Millions of yen)

Core

Operating

Net profit

Basic

attributable to

Revenue

operating

earnings per

profit

profit

owners of the

share

parent

Jan. 31, 2024 Forecasts (A)

317,000

(134,000)

(156,000)

(141,000)

¥ (354.90)

Revised Forecasts (B)

314,600

(133,000)

(354,900)

(315,000)

¥ (792.86)

Variance in amount (B−A)

(2,400)

1,000

(198,900)

(174,000)

－

Variance in percent (%)

(0.8)

－

－

－

－

[Reference] Previous year

555,544

16,364

(76,979)

(74,512)

¥ (187.55)

(Year ended March 31, 2023)

Post the impairment loss totaling 180.9 billion yen in outside the core

  • Patent rights impairment loss of MYFEMBREE®, amounting to $923M (133.5 billion yen, 93% decrease on a dollar basis)
  • Good will impairment loss of North American business, amounting to $248M（35.9 billion yen, 10% decrease on a dollar basis）
  • In-processresearch and development impairment loss of the discontinuation of development of compounds such as rodatristat ethyl and EPI-589, amounting to 10.6 billion yen

Post additional business structure improvement expenses of 8.7 billion yen in outside the core (totaling 30.1 billion yen)

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

2

Financial Forecasts and Dividend Forecasts for FY2024

Consolidated Financial Forecasts for FY2024:

Revenue and core operating profit are expected to improve from the previous fiscal year to 338 billion yen (up 23.4 billion yen from the previous fiscal year) and 1 billion yen (up 134 billion yen from the previous fiscal year), respectively

  • Expansion of the revenue of the three key products (ORGOVYX® (therapeutic agent for advanced prostate cancer), MYFEMBREE® (therapeutic agent for uterine fibroids and endometriosis), and GEMTESA® (therapeutic agent for overactive bladder)) in North America
  • Rationalization of SG&A expenses and R&D expenses

Dividend Forecasts for FY2024:

Dividends will be suspended for FY2024 because 1.0 billion yen of core operating profit is forecasted, which is significantly below the assumption stated in the Mid-term Business Plan 2027

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

3

Financial Forecasts for FY2024 (Core operating profit)

Source: Sumitomo Chemical Co., Ltd.

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

4

Investors' Meeting for the Current Priority Management Issues and Business Strategy on April 30, 2024

Financial Forecasts for FY2024 (SG&A expenses and R&D expenses)

Source: Sumitomo Chemical Co., Ltd.

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

5

Investors' Meeting for the Current Priority Management Issues and Business Strategy on April 30, 2024

Appendix (Sumitomo Chemical: Investors' Meeting for the Current Priority Management Issues and Business Strategy on April 30, 2024）

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

6

Appendix (Sumitomo Chemical: Investors' Meeting for the Current Priority Management Issues and Business Strategy on April 30, 2024）

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

7

Appendix (Sumitomo Chemical: Investors' Meeting for the Current Priority Management Issues and Business Strategy on April 30, 2024）

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

8

Appendix (Sumitomo Chemical: Investors' Meeting for the Current Priority Management Issues and Business Strategy on April 30, 2024）

© Sumitomo Pharma Co., Ltd. All Rights Reserved.

9

Attachments

  • Original Link
  • Original Document
  • Permalink

Disclaimer

Sumitomo Pharma Co. Ltd. published this content on 30 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 April 2024 00:12:29 UTC.