Nihon Chouzai : Results of Operations for the Fiscal Year Ending March 31, 2021
May 12, 2021 at 08:58 am EDT
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May 12, 2021
(Tokyo Stock Exchange, First Section / Stock code: 3341)
Copyright 2021 NIHON CHOUZAI Co., Ltd. All rights reserved.
Financial Highlights
Earnings Highlights
Dispensing Pharmacy Business
・Although business was affected by COVID-19, customer traffic recovered more than expected, and ongoing companywide cost- cutting measures were more effective than anticipated.
Pharmaceutical Manufacturing and Sales Business
・Profit margins were up substantially thanks to sharp growth in sales of in-house manufactured items, including new products with large markets.
Medical Professional Staffing and Placement Business
・Net sales and operating profit were both down sharply due to abrupt changes in market demand for pharmacist staffing as a result of COVID-19.
Copyright 2021 NIHON CHOUZAI Co., Ltd. All rights reserved.
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Consolidated Statement of Income
Net sales were up 3.9% YoY. Although the Dispensing Pharmacy Business continued to be affected by the COVID-19 pandemic, earnings benefitted from the 65 new stores opened in FY3/20. Operating profit grew 6.8% YoY and exceeded revised forecasts by 23.7% thanks to the implementation of companywide cost reduction measures as well as brisk sales of new NHI listed drugs in the Pharmaceutical Manufacturing and Sales Business.
FY3/19
FY3/20
FY3/21
FY3/21
Change Vs.
Vs. Revised
YoY growth
Revised
Revised
Results
Results
Results
Forecast
rate
Forecast
Forecast
（Millions of yen）
Net Sales
245,687
268,520
275,753
278,951
3,198
1.2%
3.9%
Cost of Sales
203,711
222,147
227,117
229,577
2,459
1.1%
3.3%
Gross profit
41,975
46,372
48,635
49,374
738
1.5%
6.5%
% to sales
17.1%
17.3%
17.6%
17.7%
―
―
―
SG&A expenses
35,242
38,779
42,083
41,267
(815)
(1.9%)
6.4%
% to sales
14.3%
14.4%
15.3%
14.8%
―
―
―
Consumption taxes
12,537
15,413
17,394
17,828
433
2.5%
15.7%
R&D expenses
2,764
2,991
3,116
2,776
(340)
(10.9%)
(7.2%)
Operating profit
6,733
7,593
6,552
8,106
1,554
23.7%
6.8%
% to sales
2.7%
2.8%
2.4%
2.9%
―
―
―
Ordinary profit
6,077
7,405
6,331
8,409
2,077
32.8%
13.6%
% to sales
2.5%
2.8%
2.3%
3.0%
―
―
―
Profit attributable to
3,790
6,697
3,260
3,538
278
8.5%
(47.2%)
owners of parent
% to sales
1.5%
2.5%
1.2%
1.3%
―
―
―
Net income per share (Yen) Note
121.74
223.33
108.73
118.01
9.28
8.5%
(47.2%)
Note ： On April 1, 2020, the Company conducted a two-for-one stock split of common stock.
Net income per share has been calculated as if this stock split had taken place at the beginning of the fiscal year ended March 31, 2019.
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Copyright 2021 NIHON CHOUZAI Co., Ltd. All rights reserved.
Consolidated Balance Sheet
The main asset changes were a 0.7 billion yen increase in raw materials and supplies.
The main liability changes were a 1.4 billion yen increase in accounts payable-trade and a 3.2 billion yen decline in income taxes payable.
（Millions of yen）
End of Mar. 2019
End of Mar. 2020
End of Mar. 2021
YoY change
YoY change
(FY3/19)
(FY3/20)
(FY3/21)
(%)
Current assets
80,132
87,414
89,246
1,832
2.1%
Non-current assets
98,545
98,137
97,015
(1,121)
(1.1%)
Property, plant and
69,806
66,082
64,785
(1,297)
(2.0%)
equipment
Intangible assets
16,906
19,425
18,952
(473)
(2.4%)
Investments and other
11,833
12,628
13,277
648
5.1%
assets
Total assets
178,677
185,551
186,262
711
0.4%
Current liabilities
69,100
70,107
87,720
17,612
25.1%
Non-current liabilities
68,504
68,370
48,673
(19,697)
(28.8%)
Total liabilities
137,604
138,478
136,394
(2,084)
(1.5%)
Total net assets
41,073
47,072
49,868
2,795
5.9%
Shareholders' equity
41,068
47,072
49,868
2,795
5.9％
Equity ratio
23.0%
25.4%
26.8%
―
―
Copyright 2021 NIHON CHOUZAI Co., Ltd. All rights reserved.
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NIHON CHOUZAI Co. Ltd. published this content on 12 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 May 2021 12:57:03 UTC.
NIHON CHOUZAI Co., Ltd is primarily engaged in the pharmacy business, the provision of staffing services, as well as the manufacture and sale of pharmaceutical products. The Company operates in three business segments. The Pharmacy segment is engaged in the operation of a chain of dispensing pharmacies. The Pharmaceutical Product Manufacturing and Distribution segment is engaged in the manufacture and nationwide sale of generic pharmaceutical products. The Healthcare Personnel Staffing Service segment is involved in the dispatching of pharmacists to various regional pharmacies.
NIHON CHOUZAI CO.,LTD. 
