2024-04-25 23:50:27 ET
Daiichi Sankyo Company, Limited (DSKYF)
Q4 2023 Earnings Call Transcript
April 25, 2024 02:00 AM ET
Company Participants
Kentaro Asakura - VP of Corporate Communications Department
Hiroyuki Okuzawa - Representative Director, President and COO
Ken Takeshita - Head of Global R&D
Koji Ogawa - Head of Global Corporate Planning & Management, CFO
Conference Call Participants
Hidemaru Yamaguchi - Citigroup Securities
Seiji Wakao - JPMorgan Securities
Shinichiro Muraoka - Morgan Stanley MUFG
Kasumi Haruta - UBS Securities
Koichi Mamegano - BOA Securities
Miki Sogi - Sanford Bernstein
Presentation
Kentaro Asakura
[Foreign Language] Thank you for waiting. We would like to open Fiscal Year 2023 Financial Results Presentation. I'm Asakura of Corporate Communication. I will serve as MC.
Concerning the language, in this presentation, we use both Japanese and English. We have simultaneous interpretation, so would you please click the icon of the interpreter logo at the bottom of Zoom and select Japanese, English or original audio. When you select original audio, you can listen to the original sounds and we would present the presentation materials in English or in Japanese depending upon the language used by the speaker and in the live demonstration, we would present the Japanese presentation materials. The materials are available on the IR library of our corporate website. Financial presentation related materials please download as needed.
Today we have Okuzawa, the Representative Director, President and COO; Ogawa of Executive Officer and CFO; and Takeshita, Global R&D Head. First, Okuzawa and Takeshita will explain the presentation outline of the financial results of the fiscal year 2023, update of the fifth mid-term plan as well as the expected performance for the fiscal year 2024. We would take questions from the investors and analysts at 4:30 and the media question will be taken separately after 4:40.
Hiroyuki Okuzawa
I'm Okuzawa. Thank you very much for attending the FY 2023 financial results presentation for Daiichi Sankyo. We have announced FY 2023 result today at 01:00 p.m. I would like to before we go through the presentation as per the material.
Please refer to slide three. This is today's agenda; FY 2023 consolidated financial result, business update, R&D update, five year business plan update, FY 2024 forecast. As for the R&D update, the global R&D head Takeshita will take you through the presentation. We are going to address your questions at the end.
Please refer to slide four. This slide shows a summary of consolidated financial results for FY 2023. Revenue increased ¥323.2 billion, or 25.3% year-on-year to ¥1.6017 trillion. Cost of sales grew by ¥65.7 billion year-on-year. SG&A rose ¥157.2 billion, of which the profit share of DXD-ADC products increased ¥79.8 billion and other SG&A expenses rose ¥77.5 billion. R&D expenses grew by ¥27.6 billion. As a result, core operating income increased by ¥72.7 billion, or 59.3% year-on-year to ¥195.3 billion. Operating income, including one-time gains and losses, increased ¥91 billion, or 75.5%, to ¥211.6 billion and net income attributable to the parent company rose by ¥91.1 billion, or 83.8% to ¥207 billion. As for the actual FX rate, the yen was ¥144.62 to $1, a depreciation of ¥9.14 from the previous year; ¥156.79 to the euro, depreciation of ¥15.82 from the previous year. ...
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Daiichi Sankyo Company, Limited (DSKYF) Q4 2023 Earnings Call Transcript