Financial Summary for the Third Quarter of the Fiscal Year Ending March 2026 [Japan GAAP] (Consolidated)

Performance Overview

During the cumulative consolidated third quarter period of the fiscal year ending March 2026, the Kaken Pharmaceutical Co., Ltd. Group recorded net sales of 57,617 million yen (24.2% decrease year-over-year), operating income of 554 million yen (97.8% decrease year-over-year), and net income attributable to owners of parent of 1,398 million yen (92.7% decrease year-over-year), resulting in a decline in both revenue and profit. The primary factors include a reactionary decrease in one-time income from the transfer of intellectual property rights for NM26 and license agreements for the STAT6 inhibitor, the transition of the onychomycosis treatment agent "Klenafin" to authorized generic products, and an increase in R&D expenses (15,645 million yen, up 48.2% year-over-year). The equity ratio improved to 82.6% compared to the end of the previous period.

Segment Trends and Future Outlook

In the pharmaceutical segment, domestic pharmaceutical operations experienced a decrease in revenue due to drug price revisions and competitive products, whereas the agricultural chemicals business saw increased sales driven by the core product "Polyoxin" and others. Overseas sales amounted to 7,880 million yen, down 66.7% year-over-year. The real estate business posted net sales of 1,915 million yen (3.9% increase year-over-year) due to higher rental income. The full-year earnings forecast remains unchanged at net sales of 86,300 million yen, operating income of 2,100 million yen, and net income attributable to owners of parent of 2,300 million yen. In R&D, the phase III trials of "KP-001" and "KAR" achieved primary endpoints, and multiple license agreements were concluded to strengthen the foundation for future growth.