Financial

Financial Results for the First Half of Fiscal Year Ending March 2017: Toho Holdings

Summary

Toho Holdings reported its consolidated financial results for the first half of the fiscal year ending March 2017, covering the period from April 1, 2016, to September 30, 2016. The primary objective of the report is to detail the company’s operational performance and financial position amidst a challenging regulatory environment characterized by national health insurance drug price reductions and revisions to medical service fee systems. The company achieved net sales of 615,778 million yen, representing a 2.3% increase compared to the same period in the previous year. Operating income rose significantly by 25.1% to 7,640 million yen, while profit attributable to owners of the parent surged by 61.1% to 6,890 million yen. The pharmaceutical wholesaling segment served as the primary driver of growth, posting 591,687 million yen in sales and a 49.0% increase in segment income, bolstered by strong demand for hepatitis C and cancer treatments, alongside the expansion of customer support systems. Conversely, the dispensing pharmacy business faced headwinds, with segment income declining by 79.7% due to the impact of price revisions and difficulties in improving productivity. The financial position remains stable, with total assets of 597,727 million yen and a shareholder equity ratio of 30.1%. Cash flow from operating activities improved to an inflow of 17,233 million yen, a marked recovery from the previous year. The company also noted a change in accounting policy regarding the depreciation of structures and facilities attached to buildings, shifting from the declining-balance method to the straight-line method in accordance with 2016 tax reforms. Moving forward, the company has revised its full-year earnings forecasts to reflect the performance trends observed during the first half of the fiscal year.

From the report

for the First Half of Fiscal Year Ending March 2017 November 9, 2016 Name of Listed Company: TOHO HOLDINGS CO., LTD. Listed: Tokyo Stock Exchange Securities Code Number: 8129 URL: http://www.tohohd.co.jp/ Corporate Representative / Title: Norio Hamada/ President and Representative Director Contact Representative / Title: Mamoru Ogino/ Executive Managing Director and General Manager of Administration Division and Finance Department TEL: +81‑3‑3419‑7893 Scheduled Submission Date for Quarterly Report: Nov 14, 2016 Planned Date of Dividends Payment: Dec 5,2016 Quarterly Supplemental Explanatory Material Prepared: Applicable Quarterly Results Briefing Held: Applicable (For Institutional Investors and Analysts) (Amounts are truncated to the nearest million yen.) 1. Consolidated Financial Results for the First Half of the Fiscal Year Ending March 2017 (from April 1, 2016 to September 30, 2016) (1) Consolidated Results of Operations (Cumulative) (Percentages indicate the rate of change compared with the preceding fiscal year.) Net Sales Operating Income Ordinary Income Profit attributable to owners of parent Million yen % Million yen % Million yen % Million yen % First Half, FY Ending March 2017 615,778 2.3 7,640 25.1 10,569 15.3 6,890 61.1 First Half, FY Ended March 2016 602,184 7.4 6,110 133.0 9,164 64.9 4,276 41.6 (Note) Comprehensive income: First Half of FY Ending March 2017 : 6,093 million yen ( 115.3%); First Half of FY Ended March 2016: 2,829 million yen (‑64.5%) Current Net Income Current Net Income per Share per Share ‑ Diluted Yen Yen First Half, FY Ending March 2017 100.42 91.29 First Half, FY Ended March 2016 62.06 56.43

me: First Half of FY Ending March 2017 : 6,093 million yen ( 115.3%); First Half of FY Ended March 2016: 2,829 million yen (‑64.5%) Current Net Income Current Net Income per Share per Share ‑ Diluted Yen Yen First Half, FY Ending March 2017 100.42 91.29 First Half, FY Ended March 2016 62.06 56.43 (2) Consolidated Financial Position Total Assets Net Assets Shareholder’s Equity per share Million yen Million yen % First Half, FY Ending March 2017 597,727 179,729 30.1 FY Ended March 2016 642,698 174,656 27.2 (Reference) Shareholder’s equity:First Half, FY Ending March 2017: 179,652 million yen; FY Ended March 2016: 174,589 million yen 2. Historical Payment of Dividends Annual Cash Dividend per Share End of End of End of Year‑end Annual first quarter first half third quarter Yen Yen Yen Yen Yen FY Ended March 2016 ─ 13.00 ─ 15.00 28.00 FY Ending March 2017 ─ 15.00 FY Ending March 2017 ─ 15.00 30.00 (Projected) (Note) Revision of the dividend forecasts most recently announced: None 3. Projected Consolidated Results of Operations during Fiscal Year Ending March 2017 (from April 1, 2016 to March 31, 2017) (Percentages indicate the rate of change compared with the preceding fiscal year.) Net Sales Operating Income Ordinary Income Profit attributable to Net Income per owners of parent Share Million yen ％ Million yen ％ Million yen ％ Million yen ％ Yen Full year 1,235,000 ‑5.6 13,500 ‑52.8 18,900 ‑45.2 12,400 ‑43.0 180.36 (Note) 1.

te of change compared with the preceding fiscal year.) Net Sales Operating Income Ordinary Income Profit attributable to Net Income per owners of parent Share Million yen ％ Million yen ％ Million yen ％ Million yen ％ Yen Full year 1,235,000 ‑5.6 13,500 ‑52.8 18,900 ‑45.2 12,400 ‑43.0 180.36 (Note) 1. Revision of consolidated projected results of operations most recently announced: Applicable

(1) Changes in material subsidiaries during the first half of fiscal year ending March 2017: N.A. (Changes in special subsidiaries accompanying a change in the scope of consolidation) Inclusion －(Company name: ) Exclusion －(Company name: ) (2) Application of accounting process which is peculiar to the compilation of consolidated quarterly financial statements:N.A. (3) Changes in accounting policies and changes in accounting estimates, and correction and restatement (i) Changes in accounting policies with revisions in the accounting standards, etc.: Applicable (ii) Changes in accounting policies other than those under the item (i): N.A. (iii) Changes in the accounting estimates:N.A (iv) Correction and Restatement:N.A For details, please refer to (3) Changes in Accounting Policies and Changes in Accounting Estimates, and Correctionand Restatement in the section 2. Matters Concerning Summary Information (Notes) on page 4 of the AttachedDocument. (4) Number of shares outstanding (Common stock) (i) Number of shares outstanding at end of fiscal year First Half of FY 78,270,142 FY Ended 78,270,142 (Including common stock for treasury) Ending March 2017 March 2016 (ii) Number of treasury stocks at end of fiscal year First Half of FY 9,658,181 FY Ended 9,657,804 Ending March 2017 March 2016 (iii) The average number of shares during the first half First Half of FY 68,612,080 First Half of 68,910,757 Ending March 2017 FY Ended March 2016

March 2017 March 2016 (ii) Number of treasury stocks at end of fiscal year First Half of FY 9,658,181 FY Ended 9,657,804 Ending March 2017 March 2016 (iii) The average number of shares during the first half First Half of FY 68,612,080 First Half of 68,910,757 Ending March 2017 FY Ended March 2016 * Indicates quarterly review procedure implementation status This quarterly earnings report is exempt from the quarterly review procedure under the Financial Instruments and Exchange Act. The quarterly financial statements are under the quarterly review procedure process at the time of disclosure of this report. * Explanation of Appropriate Use of Performance Projections and Other Items Requiring Special Description Any forward‑looking statements contained in this report, including performance projections, are based on information currently available to the Company as well as certain assumptions that the Company determined to be rational at the time of the release of this report,and it is not intended that the Company undertake to achieve such results. Actual results may differ significantly from the projections above, due to a variety of factors. Please refer to Qualitative Information on Projected Consolidated Results of Operations on page 3 of this report (the Attached Document) for the suppositions on which the performance projections are based and points that have to be borne in mind for the use of such projections.

1. Qualitative Information on Financial Results for the First Half of Fiscal Year Ending March 2017 ···· 2 (1) Explanation of Management Results ··········································································· 2 (2) Explanation of Financial Position ··············································································· 2 (3) Explanation of Projections of Consolidated Operating Results for Fiscal Year Ending March 2017 · 3 2. Matters Concerning Summary Information (Notes) ····························································· 4 (1) Changes in Material Subsidiaries during the First Half of Fiscal Year Ending March 2017 ··········· 4 (2) Application of Accounting Process which is Peculiar to the Compilation of Consolidated Quarterly Financial Statements ······························································································ 4 (3) Changes in Accounting Policies and Changes in Accounting Estimates, and Correction and Restatement ········································································································ 4 (4) Additional Information ··························································································· 4 3.

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Format: PDF
Type: Financial

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