The original disclosure in Japanese was released on May 13, 2021 at 15:00 (GMT+8)
Consolidated Financial Statements for the Year Ended March 31, 2021
FY2021 (April 1, 2020 - March 31, 2021) [UNAUDITED]
May 13, 2021 | ||
Company name: | Takara Bio Inc. | |
Stock exchange listings: | Tokyo Stock Exchange (1st section) | |
Code number: | 4974 | |
URL: | https://www.takara-bio.co.jp | |
Company representative: | Koichi Nakao, President | |
Contact: | Takuya Kakemi, Executive Officer, President of Corporate | |
Management Division | ||
Tel. (077) 565-6970 | ||
Scheduled date of general shareholder's meeting: | June 24, 2021 | |
Scheduled date of starting delivery of dividends: | June 25, 2021 | |
Scheduled date of annual securities report filing date: | June 29, 2021 | |
Supplementary documents of the financial results: | Yes | |
Financial results information meeting: | Yes |
Notes: 1. The accompanying financial statements have been prepared in accordance with accounting principles and practices generally accepted in Japan.
2. Amounts are rounded down to the nearest million yen.
1. Results for the year ended March 31, 2021 (Apr. 1, 2020 - Mar. 31, 2021)
- Consolidated operating results
(Percentages indicate changes from the same period of the previous fiscal year.) | |||||
Year ended | Year ended | ||||
Mar. 31, 2021 | Mar. 31, 2020 | ||||
Net sales | (Millions of yen) | (%) | (Millions of yen) | (%) | |
46,086 | 33.3 | 34,565 | (3.6) | ||
Operating profit | 13,952 | 122.4 | 6,274 | 14.8 | |
Ordinary profit | 14,159 | 123.1 | 6,347 | 12.1 | |
Net income (loss) attributable to owners of | 9,547 | 149.9 | 3,819 | 4.4 | |
parent | |||||
Net income per share (in yen) | 79.29 | 31.72 | |||
Fully diluted net income per share (in yen) | - | - | |||
(Note) Comprehensive income | 8,674 | 169.7 | 3,216 | 18.9 |
(2) Consolidated financial position | ||||
As of Mar. 31, 2021 | As of Mar. 31, 2020 | |||
Total assets | (Millions of yen) | (Millions of yen) | ||
89.750 | 75,009 | |||
Net assets | 74,302 | 66,591 | ||
Equity ratio (%) | 82.7 | 88.7 | ||
Net assets per share (in yen) | 616.05 | 552.23 | ||
(Reference) Equity | 74,181 | 66,496 | ||
(3) Consolidated financial position | ||||
Year ended Mar. 31, 2021 | Year ended Mar. 31, 2020 | |||
Cash flow from operating activities | (Millions of yen) | (Millions of yen) | ||
13,943 | 6,339 | |||
Cash flow from investing activities | (3,778) | (212) | ||
Cash flow from financing activities | (1,103) | (946) | ||
Cash and cash equivalent, end year | 23,308 | 14,462 |
The original disclosure in Japanese was released on May 13, 2021 at 15:00 (GMT+8)
2. Dividends
Annual dividends per share in yen
Year ended | Year ended | Year ending | ||
Mar. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2022 (Forecast) | ||
First quarter end | - | - | - | |
Second quarter end | 0.00 | 0.00 | 0.00 | |
Third quarter end | - | - | - | |
Year end | 8.00 | 16.0 | 16.00 | |
Annual | 8.00 | 16.0 | 16.00 | |
Total dividend (Millions of Yen) | 963 | 1,926 | ||
Payout ratio (%) | 25.2 | 20.2 | 19.7 | |
Dividend on equity (%) | 1.5 | 2.7 |
3. Forecast for the year ending March 31, 2022 (Apr. 1, 2021 - Mar. 31, 2022)
(Percentages indicated changes from the same period of the previous fiscal year.) | ||||
Six months ending Sep. 30, | Year ending Mar. 31, 2022 | |||
2021 | ||||
Net sales | (Millions of yen) | (%) | ||
24,609 | 41.5 | 50,500 | 9.6 | |
Operating profit | 7,139 | 91.1 | 14,000 | 0.3 |
Ordinary profit | 7,220 | 89.0 | 14,200 | 0.3 |
Net income attributable to owners of the parent | 4,889 | 115.0 | 9,800 | 2.6 |
Net income per share (in yen) | 40.61 | 81.38 |
- Others
- Changes in subsidiaries during the period
(Changes in specified subsidiaries resulting in change of scope) : No Newly included: - (Name)
Excluded: - (Name)
- Changes in accounting policies, changes in accounting estimates, and retrospective restatement
- Changes based on revisions of accounting standard: No
- Changes other than ones based on revisions of accounting standard: No
- Changes in accounting estimates: No
- Restatement: No
- Number of outstanding shares (Common stock)
- Number of outstanding shares at year end (Treasury stocks are included)
As of March 31, 2021 | 120,415,600 | |
As of March 31, 2020 | 120,415,600 | |
2) | Number of treasury stocks at year end | |
As of March 31, 2021 | - | |
As of March 31, 2020 | - | |
3) | Average number of outstanding shares | 120,415,600 |
As of March 31, 2021 | ||
As of March 31, 2020 | 120,415,600 |
(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated results for the year ended March 31, 1.2021 (April 1, 2020 - March 31, 2021)
Year ended | Year ended | ||||
Mar. 31, 2021 | Mar. 31, 2020 | ||||
Net sales | (Millions of yen) | (%) | (Millions of yen) | (%) | |
33,885 | 54.1 | 21,984 | 1.1 | ||
Operating profit | 9,693 | 266.4 | 2,645 | 14.4 | |
Ordinary profit | 11,495 | 186.8 | 4,008 | 8.6 | |
Net income (loss) | 8,681 | 230.9 | 2,623 | (4.8) | |
Net income per share (in yen) | 72.10 | 21.79 | |||
Fully diluted net income per share (in yen) | - | - |
The original disclosure in Japanese was released on May 13, 2021 at 15:00 (GMT+8)
4. Non-Consolidated Financial Position | ||||
As of Mar 31, 2021 | As of Mar. 31, 2020 | |||
Total assets | (Millions of yen) | (Millions of yen) | ||
81,124 | 68,045 | |||
Net assets | 69,645 | 61,927 | ||
Equity ratio (%) | 85.9 | 91.0 | ||
Net assets per share (in yen) | 578.38 | 514.28 | ||
(Reference) Equity | 69,645 | 61,927 |
non-consolidated results>
Due to strong sales of research reagents and contract services in the fiscal year under review, we have experienced a difference between the actual results for the previous fiscal year and the actual results for the fiscal year under review.
- These financial statements are not subject to auditing.
- Comment regarding appropriate use of earnings forecasts and other special notes
Forward-looking statements contained in this document are determined by the Takara Bio Company based on information currently available to the Company and include a number of uncertainties. Actual results could differ from these forecasts due to changes in conditions that occur in the future. For information regarding the above, please refer to 1. Overview of Financial Results (4) Future Outlook on page 2 of the attached document.
The Company will hold a briefing for institutional investors and analysts on May 18, 2021. The materials handed out at this briefing and a review of questions and answers will be posted on our website.
The original disclosure in Japanese was released on May 13, 2021 at 15:00 (GMT+8)
Contents of the attached document
1. Overview of Financial Results for the year ended March 31, 2021…………………...........…………………………........... 2
- Overview of Financial Results……………………………………………………….………….………….…………...... 2
- Overview of Financial Position………………………………………………...…………………………...…….............. 2
- Overview of Cash Flows…………………………………………………………….…………………………….…….... 2
- Future Outlook……………………………………………………………………………………………………………. 3
2. Basic Concept on Selection of Accounting Standards……………………………………………………………................... | 3 |
3. Consolidated Financial Statements and Primary Notes............................................................................................................. | 4 |
(1) Consolidated Balance Sheets…………………………………………………………………………………................... | 4 |
(2) Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income……................................. | 6 |
(Consolidated Statements of Profit or Loss)…………………………………………………………………….............. | 6 |
(Consolidated Statements of Comprehensive Income) …………………………………………………………………. | 7 |
(3) Consolidated Statements of Change in Net Assets……………………………………………………………………….. | 8 |
(4) Consolidated Statements of Cash Flows……………………………………………………………………...................... | 9 |
(5) Notes to Consolidated Financial Statements……………………………………………………………………………… | 10 |
(Notes on Premise of Going Concern) ………………………………………………………………………………….. | 10 |
(Significant Accounting Estimates) …………………………………………………………………………………….. 10 | |
(Changes in Presentation Methods) …………………………………………………………………………………….. | 10 |
(Additional Information)………………………………………………..…………..…………..…………..………….... | 10 |
(Segment Information)……………………………………………………………………………..……………….…… | 11 |
(Per Share Information) ………………………………………………………………………………………………… | 11 |
(Significant Subsequent Events) ………………………………………………………………………………………... | 11 |
4. Supplemental Information ………………………………………………………………………………………………….... 12
- Trends in Key Indicators for Business Management……………………………………………………………………... 12
- Comparative Consolidated Statement of Profit or Loss ………………………………………………………………….. 13
- Comparative Statement of Profit Relating to Consolidated Earnings Forecast…………………………………………... 14
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The original disclosure in Japanese was released on May 13, 2021 at 15:00 (GMT+8)
1. Overview of Financial Results for the year ended March 31, 2021
(1) Overview of Financial Results
The outlook for the global economy in the fiscal year under review is uncertain due to the prolonged trade friction between the United States and China, the withdrawal of the United Kingdom from the EU, and the impact of the new Coronavirus disease (COVID-19).
Under these circumstances, Takara Bio (the Group) promoted initiatives aimed at becoming a drug discovery company that continuously creates new modalities by promoting the development of biologics platform technologies through the research reagents and scientific instruments business and the contract development and manufacturing organization (CDMO) business based on the six-year Takara Bio Long-Term Management Plan 2025 (the "Long-Term Management Plan"), which ends in fiscal 2025, and the three-yearMedium-Term Management Plan 2022 (the "Medium-Term Management Plan"), which ends in fiscal 2022. In addition, the Group worked aggressively to ensure a stable supply of PCR test-related products for the new Corona Virus and to establish a manufacturing system for regenerative medicine products, including vaccines.
In the fiscal year under review, although sales of the Gene Therapy decreased compared with the previous fiscal year, sales of research reagents, scientific instruments, and contract services increased year on year. In research reagents and scientific instruments, PCR testing-related products of the new Corona Virus contributed to the increase. As a result, net sales increased to ¥46,086 million (133.3% compared to the previous fiscal year). The cost of sales decreased to ¥14,214 million (105.6% compared to the previous fiscal year) due to a change in the sales mix and an improvement in the production utilization rate. As a result, gross profit was ¥31,872 million (151.0% compared to the previous fiscal year). Selling, general and administrative (SG&A) expenses increased to ¥17,919 million (120.8% compared to the previous fiscal year) due to an increase in R&D expenses, etc. Operating income increased to ¥13,952 million (222.4% compared to the previous fiscal year).
Due to the increase in operating income, ordinary income increased 223.1% to ¥14,159 million, income before income taxes and minority interests increased 249.4% to ¥13,552 million, and net income attributable to owners of the parent increased 249.9% to ¥9,547 million.
From the first quarter of the consolidated fiscal year under review, the Company changed its reportable segments to a single segment, and accordingly, the disclosure by segment has been omitted. For details, please refer to "3. Consolidated Financial Statements and Primary Notes (Segment Information)."
In addition, sales of in vitro diagnostics, which were launched in the third quarter of the fiscal year under review, are recorded separately as research reagents.
(2) Overview of Financial Position
Total assets at the end of the fiscal year under review were ¥89,750 million, an increase of ¥14,740 million from the end of the previous fiscal year. This was mainly due to an increase of ¥7,726 million in cash and deposits and an increase of ¥5,552 million in property, plant and equipment resulting from the acquisition of land and buildings for new business offices of Takara Bio USA, Inc. and the acquisition of our manufacturing facilities.
Total liabilities at the end of the fiscal year under review were ¥15,448 million, an increase of ¥7,030 million from the end of the previous fiscal year. This was mainly due to increases of ¥2,656 million in other current liabilities, ¥2,462 million in income taxes payable, and ¥1,050 million in notes and accounts payable-trade.
Total net assets at the end of the fiscal year under review were ¥74,302 million, an increase of ¥7,710 million from the end of the previous fiscal year. This was mainly due to a decrease of ¥965 million in foreign currency translation adjustments due to the appreciation of the yen, while retained earnings increased by ¥8,584 million.
(3) Overview of Cash Flows
Net cash provided by operating activities amounted to ¥13,943 million, an increase of ¥7,603 million from the previous fiscal year. This was mainly attributable to income before income taxes and minority interests of ¥13,552 million, depreciation and amortization of ¥3,220 million, an increase in other current liabilities of ¥2,416 million, an increase in notes and accounts receivable-trade of ¥3,559 million, income taxes paid of ¥1,854 million, and an increase in inventories of ¥1,767 million.
Net cash used in investing activities amounted to ¥3,778 million, an increase of ¥3,565 million from the previous fiscal year. This was mainly due to purchase of property, plant and equipment and intangible assets of ¥8,687 million, proceeds from sales and redemption of marketable securities of ¥2,000 million, and subsidy receipts of ¥1,900 million.
Net cash used in financing activities amounted to ¥1,103 million, an increase of ¥157 million from the previous fiscal year, mainly due to cash dividends paid of ¥962 million.
As a result of the above, the balance of cash and cash equivalents at the end of the fiscal year under review, including the
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Takara Bio Inc. published this content on 13 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2021 08:19:01 UTC.