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Summary of Consolidated Financial Results for
the Year Ended March 31, 2009 (Unaudited)
May 11, 2009
Company Name: DAINIPPON SUMITOMO PHARMA CO., LTD. Head Office: 6-8, Doshomachi, 2-chome, Chuo-ku, Osaka, 541-0045 Stock Exchange Listings: Tokyo, Osaka Security Code number: 4506 (URL:
http://www.ds-pharma.co.jp) Date of Annual Shareholders’ Meeting: June 26, 2009 Starting date of dividend payments: June 29, 2009 Filing date of Financial Report: June 26, 2009 The accompanying consolidated financial statements are prepared in accordance with Japanese GAAP. Certain accounting principles and practices generally accepted in Japan are different from International Financial Reporting Standards. The translation of consolidated financial statements into English from Japanese is solely for the convenience of readers outside Japan.
(Note : All amounts are rounded down to the nearest million yen.)
1. Consolidated Financial Results for the Year Ended March 31, 2009
(
April 1, 2008 to March 31, 2009
)
(1) Results of Operations
(% represent changes from the previous year.)
Net sales
Operating income
Ordinary income
Net income
Yen
million
%
Yen
million
%
Yen
million
%
Yen
million
%
Year ended
March 31, 2009
264,037 0.0
31,166 (21.7)
31,395 (16.6) 19,987 (21.9)
Year ended
March 31, 2008
263,992 1.1
39,813 (12.6)
37,657 (12.8) 25,591 13.2
Earnings
per share
Earnings
per share
(diluted)
Net income /
Shareholders’
equity (ROE)
Ordinary
income /
Total assets
Operating
income /
Net sales
Year ended
March 31, 2009
¥50.30
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6.2% 7.9% 11.8%
Year ended
March 31, 2008
¥64.39
-
8.2%
9.6%
15.1%
Reference: Equity in earnings of unconsolidated subsidiaries and affiliates
Year ended March 31, 2009 :
-
Year ended March 31, 2008 :
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(2) Financial Position
(millions of yen)
Total assets
Net assets
Shareholders'
equity ratio
Shareholders’
equity per share
(yen)
As of
March 31, 2009
391,294 324,495 82.9% ¥816.49
As of
March 31, 2008
399,790 318,277 79.6% ¥800.63
Reference: Shareholders’ Equity (millions of yen) As of March 31, 2009 :
324,408
As of March 31, 2008 :
318,194
(3) Cash Flows
(millions of yen)
Net cash
provided by
operating
activities
Net cash
used in
investing
activities
Net cash
used in
financing
activities
Cash and cash
equivalents
at the end
of period
Year ended
March 31, 2009
26,295 (21,266) (11,844) 49,481
Year ended
March 31, 2008
32,509 (50,955) (6,947) 56,259
2.
Dividends
Dividends per share
1st
quarter
2nd
quarter
3rd
quarter
Year-
End
Annual
Dividends
paid for
the year
(million)
Payout
ratio
Dividends
to
net assets
ratio
Year ended
March 31, 2008
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¥9.00
-
¥9.00
¥18.00
¥7,153 28.0%
2.3%
Year ended
March 31, 2009
-
¥9.00
-
¥9.00
¥18.00
¥7,152 35.8%
2.2%
Year ending
March 31, 2010
(Forecast)
-
¥9.00
-
¥9.00
¥18.00
47.7%
3.
Consolidated Financial Forecast for the Year Ending March 31, 2010
(
April 1, 2009 to March 31, 2010
)
(% represent changes from the corresponding period of the previous year.)
Net sales
Operating
income
Ordinary
income
Net income
Yen
million
%
Yen
million
%
Yen
million
%
Yen
million
%
Earnings
per share
Six months ending
September 30, 2009
130,600 (2.8)
12,800 (29.6)
12,400
(31.9)
7,800 (28.2)
¥19.63
Year ending
March 31, 2010
264,000 (0.0)
25,000 (19.8)
24,000
(23.6)
15,000 (25.0)
¥37.75
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4.
Other
(1) Shift of significant subsidiaries during the period (shift of specified subsidiaries
accompanied by changes in scope of consolidation) : None
(2) Changes in accounting principles, procedures, disclosure methods for preparing
consolidated financial statements
①
Changes due to adoption of new accounting standards: Yes
②
Other changes: None
(3) Number of shares outstanding (Common stock) at the end of period
①
Number of shares outstanding (Including treasury stock)
March 31, 2009 : 397,900,154 shares
March 31, 2008 : 397,900,154 shares
②
Number of treasury stock
March 31, 2009 : 580,814 shares March 31, 2008 : 472,642 shares
Notes: This document contains forward-looking statements based on management’s assumptions
and beliefs in light of the information currently available, and involve risks and uncertainties. Actual financial results may differ materially depending on a number of factors, including economic conditions.
Consolidated Financial Statements
(1) Consolidated Balance Sheets
(Millions of yen)
Assets
Current assets:
Cash and time deposits
28,168
21,990
Notes and accounts receivable
86,363
79,759
Marketable securities
30,086
34,500
Inventories
48,523
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Merchandise and finished goods
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39,674
Work-in-process
-
2,934
Raw materials and supplies
-
11,901
Deferred tax assets
13,356
17,129
Short-term loans
40,000
50,000
Others
4,864
6,044
Allowance for doubtful receivables
(301)
(394)
Total current assets
251,063
263,539
Fixed assets:
Property, plant and equipment:
Buildings and structures
83,139
83,820
Accumulated depreciation and impairment loss
(43,363)
(44,329)
Buildings and structures, net
39,776
39,490
Machinery, equipment and carriers
67,929
70,438
Accumulated depreciation and impairment loss
(57,876)
(59,390)
Machinery, equipment and carriers, net
10,052
11,048
Land
9,975
9,975
Construction in progress
6,170
4,024
Others
23,018
24,586
Accumulated depreciation and impairment loss
(18,713)
(20,021)
Others, net
4,304
4,565
Total property, plant and equipment
70,279
69,104
Intangible assets
5,849
6,407
Investments and other assets:
Investment securities
44,340
33,982
Deferred tax assets
1,623
3,744
Others
26,943
14,617
Allowance for doubtful receivables
(309)
(102)
Total investments and other assets
72,598
52,242
Fixed assets
148,727
127,754
Total assets
399,790
391,294
As of
March 31, 2008
As of
March 31, 2009
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(Millions of yen)
Liabilities
Current liabilities:
Notes and accounts payable
16,499
18,523
Current portion of long-term debt
4,600
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Income taxes payable
10,862
6,298
Reserve for bonuses
8,214
8,120
Reserve for sales returns
120
96
Reserve for sales rebates
458
412
Reserve for loss on litigation
1,054
-
Other accounts payable
22,840
16,941
Others
3,264
2,956
Total current liabilities
67,914
53,349
Long-term liabilities:
Liability for retirement benefits
8,797
9,253
Liability for directors' retirement benefits
34
42
Others
4,766
4,153
Total long-term liabilities
13,598
13,449
Total liabilities
81,513
66,799
Net assets
Shareholders' equity:
Common stock
22,400
22,400
Capital surplus
15,860
15,860
Retained earnings
268,800
281,628
Treasury stock
(557)
(643)
Total shareholders' equity
306,503
319,245
Unrealized gains on available-for-sale securities, net of tax
11,690
5,162
Total valuation, translation adjustments and others
11,690
5,162
Minority interests
83
87
Total net assets
318,277
324,495
399,790
391,294
Total liabilities and net assets
Valuation, translation adjustments and others:
As of
March 31, 2008
As of
March 31, 2009
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