Toho Holdings

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9 documents

Documents

Financial Results for the First Half of Fiscal Year Ending March 2019: Japan

Toho Holdings Co., Ltd. reported its consolidated financial results for the first half of the fiscal year ending March 2019, covering the period from April 1, 2018, to September 30, 2018. The company operates primarily within the Japanese medical, healthcare, and nursing care sectors. During this period, the pharmaceutical industry faced significant headwinds, including a 7.48% reduction in National Health Insurance (NHI) drug prices and broader reforms to the drug pricing system. Financial performance for the first half showed a slight contraction compared to the previous year. Net sales reached 593,635 million yen, a 0.4% decrease, while operating income fell by 12.0% to 4,804 million yen. Ordinary income and profit attributable to owners of the parent also declined by 8.8% and 3.7%, respectively. Within the business segments, pharmaceutical wholesaling remained the primary revenue driver, posting 571,243 million yen in net sales and a 9.9% increase in segment income. Conversely, the dispensing pharmacy business experienced a sharp decline in profitability, with segment income dropping 84.5% to 201 million yen due to dispensing fee revisions. The company continues to focus on a business model centered on value-added services and the establishment of community comprehensive healthcare systems. Strategic initiatives during this period included the launch of a new operation base in the Hokuriku region and the opening of a highly functional distribution center in Hiroshima to enhance productivity and disaster resilience. Additionally, the company is expanding its generic drug presence through Kyosomirai Pharma Co., Ltd. Despite the challenging operating environment, management maintained its full-year earnings projections, citing no changes to the forecasts previously announced in May 2018.

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TOHO HOLDINGS CO.Nov 2018

Financial

Results of Operations: First Half of Fiscal Year Ending March 2018

TOHO HOLDINGS CO., LTD. reported consolidated financial results for the first half of the fiscal year ending March 2018, reflecting a period of strategic transition within the Japanese medical, healthcare, and nursing care sectors. Despite a broader decline in the prescription pharmaceuticals market—exacerbated by a significant contraction in the hepatitis C curative drug segment—the company outperformed its internal budget projections across all primary financial metrics. This performance was driven by a shift toward value-added services and operational efficiencies, even as year-over-year consolidated net sales decreased by 3.2% to 595,962 million yen and operating income fell by 28.6% to 5,458 million yen. The pharmaceutical wholesaling business, which remains the company’s largest segment, faced headwinds with net sales of 570,639 million yen, a 3.6% decrease from the previous year. Conversely, the dispensing pharmacy business demonstrated strong growth, with net sales rising 2.2% to 48,204 million yen and operating income surging 590.1% to 1,305 million yen. These results were supported by the expansion of proprietary customer support systems and the launch of the KYOSOMIRAI PHARMA generic drug brand, which introduced 19 new products across 6 ingredients to align with the industry’s increasing reliance on generic alternatives. Management continues to prioritize the optimization of personnel and organizational structures to enhance profitability. By focusing on high-value solutions for medical institutions and patients, such as specialized voice-recognition software and examination reservation services, the company aims to mitigate market volatility. Given the performance in the first half, the company has maintained its original full-year earnings forecasts, signaling confidence in its current business model and ongoing efforts to strengthen its market foundation.

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TOHO HOLDINGS CO.Nov 2017

Financial

Financial Results for the First Half of Fiscal Year Ending March 2018: Japan

Toho Holdings Co., Ltd. reported its consolidated financial results for the first half of the fiscal year ending March 2018, covering the period from April 1, 2017, to September 30, 2017. The primary objective of the report is to disclose the company’s operational performance and financial position within the Japanese medical, healthcare, and nursing care sectors. Despite a challenging market environment characterized by a decline in the prescription pharmaceuticals market and a significant reduction in demand for hepatitis C curative drugs, the company exceeded its internal budget projections for net sales and operating income. Key financial data for the first half of fiscal year 2018 show net sales of 595,962 million yen, representing a 3.2% year-on-year decrease. Operating income fell by 28.6% to 5,458 million yen, while ordinary income and profit attributable to owners of the parent declined by 20.4% and 25.5%, respectively. The pharmaceutical wholesaling business, the company’s primary segment, recorded 570,639 million yen in net sales, a 3.6% decrease. Conversely, the dispensing pharmacy business demonstrated growth, with net sales rising 2.2% to 48,204 million yen and segment income increasing significantly by 590.1% to 1,305 million yen. The company continues to focus on strategic initiatives, including the expansion of its generic drug brand, KYOSOMIRAI PHARMA, and the implementation of value-added customer support systems for medical institutions. As of September 30, 2017, total assets stood at 633,584 million yen, with a shareholder’s equity ratio of 30.4%. Management has maintained its full-year earnings projections, citing no changes to the forecasts previously announced in May 2017. The report is based on consolidated financial statements and is exempt from a formal quarterly review.

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TOHO HOLDINGS CO.Nov 2017

Report

Quarterly Financial Results: First Half of Fiscal Year Ending March 2016

TOHO HOLDINGS CO., LTD. reported strong financial growth for the first half of the fiscal year ending March 2016, covering the period from April 1, 2015, to September 30, 2015. The company achieved net sales of 602,184 million yen, representing a 7.4% increase compared to the same period in the previous year. Operating income saw a significant rise of 133.0% to 6,110 million yen, while ordinary income grew by 64.9% to 9,164 million yen. Profit attributable to owners of the parent reached 4,276 million yen, a 41.6% increase year-on-year. The company’s performance was driven primarily by its pharmaceutical wholesaling business, which posted net sales of 577,053 million yen and segment income of 5,271 million yen, reflecting a 100.4% increase in segment profitability. The dispensing pharmacy business also contributed positively, with net sales of 47,630 million yen and a substantial 1,187.4% increase in segment income, totaling 931 million yen. These results were supported by a strategic shift toward value-added services and the implementation of proprietary customer support systems, such as the Dispensing ENI-Pharma series and ENIFvoiceSP, despite broader market pressures to curtail medical expenses. Financial position remained stable, with total assets of 597,681 million yen and total net assets of 156,531 million yen as of September 30, 2015. While operating activities resulted in a net cash outflow of 68 million yen—largely due to tax payments and changes in working capital—the company maintained a solid liquidity position. The firm also adopted new accounting standards for business combinations, which necessitated minor restatements of prior-year financial data to ensure consistency. Management has revised its full-year earnings projections to reflect these performance trends, signaling continued focus on operational efficiency and service-oriented growth.

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Toho Holdings Co., Ltd.

Report

Financial Results: First Half of Fiscal Year Ending March 2013

TOHO HOLDINGS CO., LTD. reported its consolidated financial results for the first half of the fiscal year ending March 2013, covering the period from April 1, 2012, to September 30, 2012. The company’s primary objective during this period was to navigate a challenging market environment characterized by a 6.0% average reduction in National Health Insurance (NHI) drug prices. To maintain competitiveness, the group utilized a strategy balancing customer support services with pharmaceutical sales, alongside efforts to address distribution inefficiencies and pricing gaps between NHI and market rates. Financial performance showed positive growth across key metrics compared to the same period in the previous year. Net sales reached 556,184 million yen, a 3.1% increase, while operating income rose significantly by 76.4% to 7,252 million yen. Ordinary income and net income also saw substantial gains, increasing by 42.6% and 52.9%, respectively. The pharmaceutical wholesaling segment served as the primary driver of this growth, reporting 535,234 million yen in sales and a 214.6% increase in segment profit. Conversely, the dispensing pharmacy segment experienced a 13.8% decline in segment profit, attributed to the costs associated with establishing new pharmacies and hiring additional pharmacists. The company’s financial position remained stable, with total assets of 528,037 million yen and a shareholder equity ratio of 23.9%. During this period, the company implemented a change in its depreciation method for tangible fixed assets acquired after April 1, 2012, to align with revisions in the Corporation Tax Law. Despite the operational challenges posed by regulatory price revisions, the company maintained its full-year earnings projections, signaling confidence in its ongoing proposal-based marketing and service expansion strategies.

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TOHO HOLDINGS CO.

Report

Quarterly Financial Results for the First Half of Fiscal Year Ending March 2012: Japan

TOHO HOLDINGS CO., LTD. released its consolidated financial results for the first half of the fiscal year ending March 2012, covering the period from April 1, 2011, to September 30, 2011. The report outlines the company’s operational performance, financial position, and cash flow status within the Japanese pharmaceutical wholesaling and related healthcare service sectors. The primary objective of the document is to provide stakeholders with a transparent account of the group’s financial health and strategic progress, including business expansion through the acquisition of SHOUEI CO., LTD. and the establishment of new distribution infrastructure in Kyushu. During this period, the company achieved net sales of 539,360 million yen, representing a 3.8% increase compared to the same period in the previous fiscal year. Despite this growth in top-line revenue, profitability metrics declined: operating income fell by 18.8% to 4,110 million yen, ordinary income decreased by 15.1% to 6,059 million yen, and net income dropped by 8.9% to 3,364 million yen. The pharmaceutical wholesaling segment remained the primary revenue driver, while the dispensing pharmacy operations segment demonstrated significant growth, recording a 14.5% increase in net sales. The financial position as of September 30, 2011, showed total assets of 515,965 million yen and total net assets of 114,884 million yen. Cash flow from operating activities resulted in an outflow of 5,926 million yen, largely influenced by changes in working capital, including a decrease in notes and accounts payable. The company maintained its full-year earnings forecast, citing potential uncertainties regarding upcoming national health insurance drug price revisions. The report adheres to standard Japanese accounting practices and reflects the company’s ongoing efforts to optimize distribution and enhance customer support systems.

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TOHO HOLDINGS CO.

Report

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

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.

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TOHO HOLDINGS CO.

Report

Financial Results for the First Half of Fiscal Year Ending March 2015: Japan

TOHO HOLDINGS CO., LTD. reported a challenging financial performance for the first half of the fiscal year ending March 2015, characterized by declines across all primary profitability metrics. The company recorded net sales of 560,916 million yen, representing a 3.2% decrease compared to the same period in the previous fiscal year. Operating income fell by 50.5% to 2,622 million yen, while ordinary income and net income declined by 33.7% and 38.6%, respectively. These results reflect a difficult operating environment influenced by national health insurance drug price reductions, a shift toward generic pharmaceuticals, and a market contraction following a consumption tax hike. The pharmaceutical wholesaling business, the company’s primary segment, faced significant headwinds as the transition from long-listed drugs to generics occurred more rapidly than anticipated. While the company pursued a value-added service model, it struggled to achieve projected cost efficiencies, resulting in a 3.6% decrease in segment sales and a 42.6% drop in segment income. The dispensing pharmacy business saw a 6.3% increase in sales, yet segment income plummeted by 86.7% due to rising costs associated with new pharmacy openings and personnel expenses. Other segments, including SMO operations and information equipment sales, also experienced year-on-year declines in revenue. Geographically focused on Japan, the company’s financial position remained stable in terms of assets, though total liabilities decreased by 6.3% to 405,690 million yen. Cash flow from operating activities improved significantly to an inflow of 15,184 million yen, largely due to changes in working capital, including a reduction in notes and accounts receivable. In response to these performance trends, the company revised its full-year earnings forecast for the fiscal year ending March 2015. The results were prepared in accordance with Japanese accounting standards, including a notable change in the calculation method for retirement benefit obligations.

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TOHO HOLDINGS CO.

Report

Summary of Consolidated Financial Results: First Half of Fiscal Year Ending March 2014

The consolidated financial results for the first half of the fiscal year ending March 2014 reflect the performance of TOHO HOLDINGS CO., LTD. within the Japanese pharmaceutical and healthcare sector. The primary objective of this report is to disclose operational and financial outcomes for the six-month period ending September 30, 2013, while providing context for management’s medium-term strategy, "Total Commitment to Good Health 14-16." During this period, the company achieved net sales of 579,175 million yen, representing a 4.1% increase compared to the previous year. Despite this growth in top-line revenue, profitability metrics declined: operating income fell by 10.3% to 5,298 million yen, ordinary income decreased by 2.9% to 8,387 million yen, and net income dropped by 4.5% to 4,914 million yen. The pharmaceutical wholesaling segment remained the primary revenue driver, contributing 556,364 million yen in sales, while the dispensing pharmacy and site management organization (SMO) segments demonstrated notable year-on-year growth in both sales and segment income. A significant methodological change was implemented in the first quarter of the fiscal year regarding the accounting treatment of non-deductible consumption taxes. Previously classified as non-operating expenses, these costs are now recorded as selling, general, and administrative (SG&A) expenses to better reflect the growing scale of the dispensing pharmacy business and anticipated tax rate adjustments. Comparative figures from the prior year were retroactively reclassified to ensure consistency. The company’s financial position as of September 30, 2013, showed total assets of 557,031 million yen and total net assets of 141,175 million yen. Cash flow from operating activities resulted in an outflow of 20,695 million yen, largely influenced by changes in trade payables and receivables. Management maintained its full-year performance projections, anticipating continued growth in line with the established medium-term plan.

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TOHO HOLDINGS CO.