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<br />
<br />Pharmaceuticals lineup
<br />
<br />e
<br />
<br />
<br />"J
<br />I
<br />:1
<br />.\
<br />
<br />Thousands of
<br />V,S, Dollars
<br />(Note 4)
<br />1997
<br />
<br />536,946
<br />37,454
<br />
<br />1995
<br />
<br />YlO,457
<br />1,772
<br />
<br />e
<br />
<br />Millions of Yen
<br />
<br />Y14,032
<br />5,946
<br />
<br />1996
<br />
<br />1997
<br />
<br />Y4,585
<br />4,648
<br />
<br />NON-CONSOLIDATED BA.CE SHEETS
<br />
<br />NI5SAN CHEMICAL INDUSTRIES, LTD.
<br />Years ended March 31,1997,1996 and 1995
<br />
<br />ASSETS
<br />
<br />CURRENT ASSETS
<br />Cash and time deposits
<br />Marketable securities (Note 5
<br />Notes and accounts receivable:
<br />
<br />Packaging 01 LAN DEL
<br />
<br />anti-hyperlipemic agent, is now
<br />at the final stage of Phase II
<br />clinical trials, and "NM-702,
<br />
<br />IlDllnCdlIrI11IDcdKC<eTIl11tn <CCdln~
<br />]]J)n \Yn~n ({]) IID
<br />
<br />83,884
<br />267,325
<br />
<br />(2,135)
<br />144,110
<br />52,466
<br />620,048
<br />
<br />9,437
<br />33,146
<br />(258)
<br />13,485
<br />6,127
<br />74,166
<br />
<br />10,963
<br />31,785
<br />(267)
<br />14,494
<br />
<br />10,410
<br />33,175
<br />(265)
<br />17,884
<br />6,511
<br />76,948
<br />
<br />receivables
<br />
<br />Subsidiaries and affiliated companies
<br />
<br />Trade .......... ..........................
<br />
<br />Less allowance for doubtful
<br />
<br />an
<br />anti-platelet agent, is also in Phase II clinical
<br />trials. In addition, we are developing new
<br />inflammatory and
<br />
<br />5,558
<br />82,511
<br />
<br />Inventories (Note 6)
<br />Other current assets
<br />Total current assets
<br />
<br />Growth in sales of LANDEL, an
<br />antihypertensive agent
<br />
<br />products related to the
<br />cardiovascular fields.
<br />
<br />Sales of the Pharmaceuticals Division amounted
<br />to Yl,819 million (US$15 million), an increase of
<br />19.0% over FY96 and accounting for 1.8% of total
<br />
<br />84,376
<br />36,430
<br />564
<br />
<br />7,560
<br />4,227
<br />90
<br />2,236
<br />
<br />10,042
<br />4,555
<br />81
<br />2,266
<br />
<br />10,471
<br />4,521
<br />70
<br />
<br />INVESTMENTS AND ADVANCES
<br />in securities...................
<br />in and advances to subsidiaries and affiliates
<br />
<br />Investments
<br />Investments
<br />
<br />
<br />The potential of the market is great in light of
<br />the increase in the population of senior citizens.
<br />We have every intention to continue the
<br />vigorous development of high value-added
<br />pharmaceutical products by utilizing our core
<br />technologies.
<br />
<br />(YMillions)
<br />
<br />Net Sales
<br />Pharmaceuticals Div.
<br />
<br />2,500
<br />
<br />2,000
<br />
<br />1985,
<br />
<br />so the Division is relatively new compared with
<br />our other two divisions.
<br />
<br />Our new parallel distribution system for
<br />LANDEL, an original antihypertensive agent
<br />commercialized in 1994, contributed to an
<br />
<br />sales, up 0.2 percentage points.
<br />We entered the pharmaceuticals field in
<br />
<br />19,154
<br />(886)
<br />139,637
<br />
<br />7,059
<br />(464,045)
<br />265,802
<br />
<br />41,918
<br />118,421
<br />48,413
<br />514,037
<br />
<br />(52)
<br />14,061
<br />
<br />5,201
<br />13,378
<br />5,483
<br />57,498
<br />1.136
<br />
<br />(50,234)
<br />32,462
<br />
<br />(40)
<br />16,904
<br />
<br />5,202
<br />14,243
<br />5,805
<br />61,019
<br />338
<br />
<br />(53,320)
<br />33,287
<br />
<br />2,377
<br />(110)
<br />17,329
<br />
<br />5,202
<br />14,696
<br />6,008
<br />63,792
<br />876
<br />(57,588)
<br />32,986
<br />
<br />Long-term loans
<br />Other investments
<br />
<br />Less allowance for doubtful receivables
<br />Total investments and advances
<br />
<br />PROPERTY, PLANT AND EQUIPMENT, AT COST (Note 7)
<br />Land
<br />
<br />Buildings
<br />
<br />Structure
<br />Machinery and equipment
<br />Construction in progress....
<br />Less accumulated depreciation
<br />Total property, plant and equipment
<br />
<br />
<br />,500
<br />
<br />LANDEL Plant
<br />
<br />,000
<br />
<br />500
<br />
<br />in Japan.
<br />Following LANDEL, our original"NK-104,
<br />
<br />'97
<br />
<br />'96
<br />
<br />'95
<br />
<br />'94
<br />
<br />'93
<br />
<br />o
<br />
<br />an
<br />
<br />DEFERRED ASSETS
<br />
<br />8,501
<br />
<br />1,035
<br />
<br />1,756
<br />
<br />1,055
<br />
<br />Discount on bonds issued
<br />
<br />7,776
<br />
<br />915
<br />
<br />922
<br />
<br />965
<br />
<br />OTHER ASSETS
<br />
<br />11
<br />
<br />51,041,765
<br />
<br />Yl22,639
<br />
<br />Y135,380
<br />
<br />Y129,283
<br />
<br />Total assets
<br />
<br />integral part of these statements.
<br />
<br />The accompanying notes are an
<br />
<br />14
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