Financial Highlights

Financial Highlights

millions of yen
 

FY2015

(JGAAP)

FY2016

(JGAAP)

FY2017

(JGAAP)

FY2018

(JGAAP)

FY2018

(IFRS)

FY2019

(IFRS)

Net sales 309,973 338,890 344,667 363,721 367,960 333,371
Operating income 91,406 108,178 115,219 138,537 145,081 130,628
Ordinary income 100,869 123,031 138,692 166,575
Profit attributable to owners of parent 66,687 83,879 108,866 132,759 137,191 122,193

Performance in fiscal 2019

Sales and profits down in fiscal 2019

 

 • Revenue fell 9.4% year on year to ¥333.4 billion.

⇒Among the main components of revenue, exports and overseas subsidiary sales were ¥30.8 billion (up 1.1% year on year), but overall revenue fell due to a decline in domestic prescription drug sales, royalty income, and milestone income.

• Operating profit and profit attributable to owners of parent also declined.

Net sales
Operating income
Ordinary income
Profit attributable to owners of the parent

Shionogi has adopted International Financial Reporting Standards (IFRS) from the fiscal year ended March 31, 2020. The financial figures are shown for both JGAAP and IFRS for the fiscal year ended March 31, 2019. 

Growth in royalty income

• Royalty income reached ¥127.1 billion (up 2.1% year on year) on the back of a steady increase in global product sales in the HIV franchise.

• Dividend income was stable, underpinned by favorable earnings at ViiV Healthcare’s global HIV business.

• Shionogi received milestone payments from Roche in connection with progress in global development for the flu drug Xofluza, but the amount was less than in the previous year when multiple payments were received

Royalty income and dividend income from ViiV Healthcare

ROE, ROIC, and CCC

Return on equity (ROE),*1 return on invested capital (ROIC),*2 and cash conversion cycle (CCC)*3 were set as key indicators for the quantitative targets of growth, efficiency, and shareholder returns in the previous Medium-Term Business Plan (SGS2020) updated in October 2016. In the fiscal year ended March 31, 2020, ROE was 15.5% (down 2.3 points year on year), ROIC was 13.2% (down 0.8 point), and CCC was 7.7 months (a 1.1 month improvement from the previous year). Moving forward, we will work to achieve the management indicators set out in STS2030.
Return on Equity (ROE)
ROIC
CCC

* Return on equity: Profit attributable to owners of parent ÷ (Shareholders’ equity + accumulated other comprehensive income) × 100 (%)

* Return on invested capital: After-tax operating income ÷ (Interest bearing debt + Shareholders’ equity + Non-controlling interests) × 100 (%)

* Cash conversion cycle: The number of days between investing cash (for raw materials, product purchases, etc.) and the time when that is ultimately converted into cash again. (This indicator is used for capital efficiency.)

Working hard to ensure that shareholders also can experience growth

Dividends per share
Notes: 
  1. 1
    . From the fiscal year ended March 31, 2015, the Company has adopted a new accounting standard for research and development expenses (business research expenses). This change has been reflected in figures for the fiscal year ended March 31, 2014.
  2. 2
    In the fiscal year ended March 31, 2019, the Company changed the presentation method for tax effect accounting. The change has been reflected in figures for the fiscal year ended March 31, 2015, and subsequent periods.
  3. 3
    International Financial Reporting Standards (IFRS): Accounting standards defined by the non-government organization International Accounting Standards Board (IASB) headquartered in London.
  4. 4
    IFRS adopted from the fiscal year ended March 31, 2020