Eisai Co., Ltd. Annual Report 2001 - Eisai GmbH

20
FINANCIAL REVIEW
(Millions of yen)
400,000
320,000
240,000
160,000
80,000
281,561
Net Sales
301,760
284,860
302,470
361,712
0 ’97 ’98 ’99 ’00 ’01
OPERATING RESULTS
Net Sales
Consolidated net sales for Eisai Co., Ltd., and its consolidated subsidiaries
(“Eisai”) amounted to ¥361,712 million in the fiscal year ended March 31,
2001, an increase of 19.6% year over year. The consolidated net sales of
Aricept, a treatment for Alzheimer’s disease, were ¥71,130 million and those
of Aciphex/Pariet, a proton pump inhibitor for the treatment of gastrointestinal
disorders, were ¥54,739 million. Both products made a significant
contribution to the increase in sales.
Gross Profit
Gross profit rose 24.8% year over year to ¥263,244 million, and Eisai’s gross
profit margin improved 3.1 percentage points to 72.8%. The increase was
due chiefly to sales growth registered by our sales subsidiaries outside
Japan, an expansion in the proportion of sales accounted for by sales of
products developed in-house and the operating rates of plants being maintained
at high levels.
Selling, General and Administrative (SG&A) Expenses
SG&A expenses rose 21.7%, to ¥154,662 million, pushed up by promotional
expenditures associated with increased sales of Aciphex in the United States.
SG&A expenses were equivalent to 42.8% of net sales, up 0.8 percentage
points from the previous fiscal period.
Research and Development (R&D) Expenses
R&D expenses were up 6.2%, to ¥49,614 million, mainly due to the cost of
clinical research for additional indications for Aricept in the United States
and genome-related expenses in Japan.
Operating Income and Income before Income Taxes and Minority Interests
Operating income jumped 58.8%, to ¥58,968 million, whereas the operating
income as a percentage of net sales rose 4.0 percentage points to 16.3%.
Other expenses included a loss of ¥13,745 million due to the establishment
of a retirement benefit trust that aims to amortize transitional obligation due
to the adoption of a new retirement benefits accounting standard.
Consequently, income before income taxes and minority interests rose
67.8% to ¥42,838 million.
Gross Profit and Ratio of
Gross Profit to Net Sales
(Millions of yen)
66.2 68.9 69.4 69.7 72.8
(%)
300,000
75
240,000
180,000
120,000
60,000
186,519
207,924
197,758
210,887
263,244
0 ’97 ’98 ’99 ’00 ’01
60
45
30
15
Eisai Annual Report 2001
0
SG&A Expenses and Ratio of
SG&A Expenses to Net Sales
(Millions of yen) (%)
34.7 38.2 40.5 42.0 42.8
200,000
50
160,000
120,000
80,000
40,000
97,809
115,277
115,447
127,050
154,662
0 ’97 ’98 ’99 ’00 ’01
40
30
20
10
0
R&D Expenses and Ratio of
R&D Expenses to Net Sales
(Millions of yen) (%)
13.6 14.9 15.3 15.4 13.7
50,000
20
40,000
30,000
20,000
10,000
0
38,348
45,139
43,698
46,704
49,614
’97 ’98 ’99 ’00 ’01
16
12
8
4
0