Interim report
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Kyowa Kirin Co., Ltd. Consolidated Financial Summary (IFRS) Fiscal 2026 Third Quarter (January 1, 2026 – September 30, 2026) This document is an English translation of the Japanese-language original.
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1 Kyowa Kirin Co., Ltd. (4151) SUMMARY OF CONSOLIDATED FINANCIAL STATEMENTS (IFRS) for Nine Months Ended September 30, 2026 November 2, 2026 Company Name: Kyowa Kirin Co., Ltd. Listed Exchanges: Tokyo Stock Exchange Stock Code: 4151 President & Chi ef Executive Officer: Abdul Mull ick Telephone: +81 3 5205 7206 Inquiries: Naohiko Kubo Executive Officer Director, Finance Department URL: https://www.kyowakirin.com/index.html Scheduled start date of dividend payment: – Appendix materials to accompany the financial report: Yes Results presentation meeting: Yes (for institutional investors and securities analysts) (Millions of yen rounded off) 1. Consolidated Financial Results for the Nine Months Ended Septe mber 30, 2026 (1) Consolidated operating results (Percentages indicate year-on-year changes.) Revenue Core operating profit Profit before tax Profit Core profit Profit attributable to owners of parent Nine months ended Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % Millions of yen % September 30, 2026 384, 947 10.2 96,952 46.8 64, 728 35.1 51,673 58.5 7 7,398 72.2 51,673 58.5 September 30, 2025 349,451 (3.7 ) 66,062 (11.2) 47,924 (33.0) 32,599 (41.7) 44,936 (25.1) 32,599 (41.7) Total comprehensive income: Nine months ended S eptember 30, 2026: ¥50,058 million; 92.5% Nine months ended September 30, 2025: ¥25,998 million; (60.7)% Note: Core base performance indicators have been redefined as o f the fiscal year ending December 31, 2026. Core operating profit is calculated by deducting SG&A (excl. amortization of intangible assets) and R&D from gross profit, and further excluding non-recurring items as determined by the Company. Core profit is calculated by deducting income tax expenses related to the core operating pro fit from the core operating profit. Note that the figures for the nine months end ed September 30, 2025 are calcul ated based on the consolidated results incorporating these changes. Basic earnings per share Diluted earnings per share Basic core earnings per share Nine months ended Yen Yen Yen September 30, 2026 98.70 – 147.83 September 30, 2025 62.28 62.28 85.85 Note: Diluted earnings per share for the nine months ended Sept ember 30, 2026 is not sta ted because there are no potential shares. (2) Consolidated financial position Total assets Total equity Equity attribut able to owners of parent Ratio of equity attributable to owners of parent to total assets As of Millions of yen Millions of yen Millions of yen % September 30, 2026 1,088,380 908,543 908,543 83.5 December 31, 2025 1,107,860 893,332 893,332 80.6
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2 Kyowa Kirin Co., Ltd. (4151) 2. Dividends Dividends per share First quarter-end Second quarter-end Third quarter-end Fiscal year- end Total Yen Yen Yen Yen Yen Fiscal year ended December 31, 2025 – 30.00 – 32.00 62.00 Fiscal year ending December 31, 2026 – 35.00 – Fiscal year ending December 31, 2026 (Forecast) 35.00 70.00 Note: Revisions to the dividend forecast most recently announced: None 3. Consolidated Earnings Forecasts for the Fiscal Year Ending D ecember 31, 2026 (from January 1, 2026 to December 31, 2026) (Percentages indicate year-on-year changes.) Revenue Core operating profit Profit before tax Profit Basic earnings per share Core profit Basic core earnings per share Millions of yen % Millions of yen % Millions of yen % Millions of yen %Y e n Millions of yen %Y e n Full year 520,000 4.7 130,000 18.4 95,000 8.9 75,000 11.9 143.27 103,000 22.0 1 96.76 Note: Changes to the earnings forecasts most recently announced: None * Notes (1) Significant changes in the scope of consolidation during th e period under review: Yes Excluded: one company Orchard Therapeutics Limited (2) Changes in accounting policie s, and accounting estimates: a. Changes in accounting policies required by IFRS: No b. Changes in accounting policies other than a. above: No c. Changes in accounting estimates: Yes Note: Please refer to “Changes in accounting estimates” under “ (5) Notes to Condensed Quarterly Consolidated Financial Statements” in “2. Condensed Quarterly C onsolidated Financial Statements and Significant Notes Thereto” on page 23 of the attachment. (3) Number of shares issued (ordinary shares) a. Number of shares issued (including treasury shares) As of September 30, 2026 525,634,500 shares As of December 31, 2025 525,634,500 shares b. Number of treasury shares As of September 30, 2026 2,049,790 shares As of December 31, 2025 2,146,320 shares c. Average number of shares during the period Nine months ended September 30, 2026 523,546,281 shares Nine months ended September 30, 2025 523,440,518 shares
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3 Kyowa Kirin Co., Ltd. (4151) * Review of the Japanese-language originals of the attached qua rterly consolidated financial statements by certified public accountants or an audit corporation: None * Notice regarding the appropriate use of the earnings forecast s and other special comments The forward-looking statements, including earnings forecasts, c ontained in these materials are based on the information currently available to the Company and on certain assumptions deemed to be reasonable by management. As such, they do not constitute guarantees by the Company of future performance. Actual results may differ materially from these projections for a wide variety of reasons.
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4 Kyowa Kirin Co., Ltd. (4151) Attachment Index 1. Summary of Business Performance and Financial Position ...................................................................... 5 (1) Summary of Quarterly Consolidated Financial Position ............................................................................ 5 (2) Summary of Quarterly Consolidated Business Performance ................................................................... 6 (3) Summary of Quarterly Consolidated Cash Flows ................................................................................... 10 (4) Research and Development Activities ..................................................................................................... 11 (5) Summary of Consolidated Earnings Forecasts and Other Forward-looking Statements ...................... 15 2. Condensed Quarterly Consolidated Financial Statements and Significant Notes Thereto ..................... 16 (1) Condensed Quarterly Consolidated Statement of Financial Position ..................................................... 16 (2) Condensed Quarterly Consolidated Statement of Profit or Loss and Condensed Quarterly Consolidated Statement of Comprehensive Income ............................................................................... 18 (3) Condensed Quarterly Consolidated Statement of Changes in Equity .................................................... 20 (4) Condensed Quarterly Consolidated Statement of Cash Flows .............................................................. 22 (5) Notes to Condensed Quarterly Consolidated Financial Statements ...................................................... 23 Segment information.......................................................................................................................... 23 Notes on going conc ern assumption ............................................................................................... 23 Changes in accounting estimates ............................... ..................................................................... 23 Changes in presentation ....................................... ............................................................................ 23 Cash flow in formation ....................................................................................................................... 23
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5 Kyowa Kirin Co., Ltd. (4151) 1. Summary of Business Performance and Financial Position (1) Summary of Quarterly Consolidated Financial Position (Billions of yen) As of December 31, 2025 As of September 30, 2026 Change from previous fiscal year-end Assets 1,107.9 1,088.4 (19.5) Non-current assets 614.5 605.8 (8.7) Current assets 493.3 482.6 (10.8) Liabilities 214.5 179.8 (34.7) Equity 893.3 908.5 15.2 Ratio of equity attributable to owners of parent to total assets (%) 80.6% 83.5% 2.9% Assets as of September 30, 2026, were ¥1,088.4 billion, a decrease of ¥19.5 billion compared to the end of the previous fiscal year. Non-current assets fell by ¥8.7 billion compared to the end of the previous fiscal year, to ¥605.8 billion, due mainly to decreases in intangible assets and goodwill following the transfer of the established pharmaceuticals joint venture in EMEA, despite an increase in property, plant and equipment. Current assets decreased by ¥10.8 billion compared to the end of the previous fiscal year, to ¥482.6 billion, due mainly to a decrease in trade and other receivables, despite increases in cash and cash equivalents and other current assets. Liabilities as of September 30, 2026, were ¥179.8 billion, a decrease of ¥34.7 billion compared to the end of the previous fiscal year, due mainly to decreases in trade and other payables and other current liabilities, despite an increase in income taxes payable. Equity as of September 30, 2026, was ¥908.5 billion, an increase of ¥15.2 billion compared to the end of the previous fiscal year, due mainly to an increase due to the recording of profit attributable to owners of parent, despite a decrease due to the payment of dividends. As a result, the ratio of equity attributable to owners of parent to total assets as of September 30, 2026 was 83.5%, an increase of 2.9 percentage points compared to the end of the previous fiscal year.
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6 Kyowa Kirin Co., Ltd. (4151) (2) Summary of Quarterly Consolidated Business Performance 1) Overview of results The Company has redefined core base performance indicators as of the fiscal year ending December 31, 2026. New core operating profit is calculated by deducting SG&A (excl. amortization of intangible assets) and R&D from gross profit, and further excluding non-recurring items as determined by the Company. Compared to the conventional core operating profit, this excludes amortization of intangible assets (amortization of sales rights), share of profit or loss of investments accounted for using the equity method, and non-recurring gains or losses that the Company deems should be excluded. New core profit is calculated by deducting income tax expenses related to the new core operating profit from the new core operating profit. New core earnings per share are calculated by dividing new core profit by the average number of shares during the period. For the nine months ended September 30, 2026 and the nine months ended September 30, 2025, the Company did not exclude any items as non-recurring gains or losses, as determined by the Company. Furthermore, the core operating profit, core profit, and core earnings per share for the nine months ended September 30, 2025, as described below, also reflect this change in definition. (Billions of yen) Nine months ended September 30, 2025 Nine months ended September 30, 2026 Year-on-year change Rate of change (%) Revenue 349.5 384.9 35.5 10.2% Core operating profit 66.1 97.0 30.9 46.8% Profit before tax 47.9 64.7 16.8 35.1% Profit 32.6 51.7 19.1 58.5% Basic earnings per share (Yen) 62.28 98.70 36.42 58.5% Core profit 44.9 77.4 32.5 72.2% Basic core earnings per share (Yen) 85.85 147.83 61.98 72.2% <Average exchange rates for each period> Currency Nine months ended September 30, 2025 Nine months ended September 30, 2026 Year-on-year change USD (USD/¥) ¥149 ¥159 ¥10 GBP (GBP/¥) ¥195 ¥213 ¥18 EUR (EUR/¥) ¥165 ¥185 ¥20 For the nine months ended September 30, 2026 (January 1, 2026 to September 30, 2026), revenue was ¥384.9 billion (up 10.2% compared to the same period of the previous fiscal year), and core operating profit was ¥97.0 billion (up 46.8%). In addition, profit was ¥51.7 billion (up 58.5%). Revenue increased, driven by the growth of global strategic products, mainly in North America and EMEA, as well as increased revenue from technology out-licensing. The positive effect on revenue from foreign exchange was ¥19.8 billion. Core operating profit increased due mainly to an increase in gross profit associated with increased revenue from overseas regions and technology out-licensing, in addition to a decrease in research and development expenses. The positive effect on core operating profit from foreign exchange was ¥8.5 billion. Profit increased due mainly to an increase in core operating profit, despite an increase in other expenses resulting from the recording of loss on contracts and impairment losses.
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7 Kyowa Kirin Co., Ltd. (4151) 2) Revenue by regional control function (Billions of yen) Nine months ended September 30, 2025 Nine months ended September 30, 2026 Year-on-year change Rate of change (%) Japan 89.7 83.7 (6.0) (6.7)% North America 129. 9 148.5 18.6 14.3% EMEA 62.4 62.8 0.4 0.7% Others 67.5 90.0 22.5 33.3% Total consolidated revenue 349.5 384.9 35.5 10.2% Notes: 1. Revenue by regional control function is classified ba sed on consolidated revenue from products of regional control functions in the One Kyowa Kirin (OKK) matrix global management structure, which combines a regional organization, a functional organization, and a product organization (product franchises). 2. EMEA consists of Europe, th e Middle East, Africa, etc. 3. Others consists of revenue fr om technology out-licensing, the APAC revenue, hematopoietic stem cell gene therapy (revenue from Orchard Therapeutics), original equipment manufacturing, etc. <Revenue by product> (Billions of yen) Nine months ended September 30, 2025 Nine months ended September 30, 2026 Year-on-year change Rate of change (%) Crysvita 146.7 171.5 24.8 16.9% Poteligeo 33.7 38.8 5.1 15.2% Libmeldy/Lenmeldy 4.4 7.3 2.9 65.6% PHOZEVEL 5.9 7.1 1.1 19.2% Duvroq 10.9 12.8 1.9 17.3% G-Lasta 13.7 10.5 (3.1) (22.8)% Romiplate 11.5 9.0 (2.5) (22.1)%
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8 Kyowa Kirin Co., Ltd. (4151) Despite growth in Crysvita, a treatment for FGF23-related diseases, and Duvroq, a treatment for renal anemia, revenue in Japan was down year on year due mainly to a decline in revenue from G-Lasta, an agent for decreasing the incidence of febrile neutropenia, the impact of the transfer of manufacturing and marketing approval for Depakene and other long-listed products, and the impact of the reductions in drug price standards implemented in April 2025 and April 2026. Revenue from Crysvita, a treatment for FGF23-related diseases, has been growing steadily since its launch in 2019. Furthermore, November 2025 saw the launch of the Crysvita Prefilled Syringe Formulation, a syringe-type formulation designed to simplify self-administration at home. Revenue from PHOZEVEL, a treatment for hyperphosphatemia, has been growing steadily since its launch in 2024. Revenue from Duvroq, a treatment for renal anemia, has been growing steadily since its launch in 2020. Revenue from G-Lasta, an agent for decreasing the incidence of febrile neutropenia, decreased due to the impact of biosimilar products and the impact of the reductions in drug price standards. Revenue in North America increased year on year due to the growth of global strategic products. Revenue from Crysvita, a treatment for X-linked hypophosphatemia, has been growing steadily since its launch in 2018. Revenue from Poteligeo, an anticancer agent, has been growing since its launch in 2018. KOMZIFTI (generic name: ziftomenib) was approved by the U.S. Food and Drug Administration (FDA) in November 2025 and launched in the United States for adult patients with relapsed or refractory acute myeloid leukemia (AML) with a sensitive NPM1 mutation and no satisfactory alternative treatment options. Profits will be shared 50:50 in the United States in accordance with the strategic collaboration agreement with Kura Oncology. The Company recognizes net profit or loss after profit sharing as revenue when positive and as selling, general and administrative expenses when negative. For the nine months ended September 30, 2026, net profit or loss was negative and is therefore recorded as selling, general, and administrative expenses. Revenue in EMEA increased year on year due to the growth of global strategic products, despite the reactionary decline from one-time revenue recorded in the same period of the previous fiscal year. Revenue from Crysvita, a treatment for X-linked hypophosphatemia, has been growing since its launch in 2018, as the number of countries where it has been released and its indications have expanded. Revenue from Poteligeo, an anticancer agent, has been growing as the number of countries where it has been released has been increasing since its launch in 2020. As a result of Kyowa Kirin International plc transferring the residual assets related to the established medicines business to Grünenthal in February 2026, royalties decreased in line with sales. Additionally, there was a reactionary decline due to the recording of revenue of ¥6.1 billion (£30.6 million) from the transfer of the rights (intellectual property) for one brand of established medicines to the joint venture in the same period of the previous fiscal year. Revenue from Others increased year on year. Revenue from Libmeldy/Lenmeldy, a treatment for metachromatic leukodystrophy (MLD), grew steadily. In addition, in December 2025, metachromatic leukodystrophy (MLD) was added to the Recommended Uniform Screening Panel (RUSP) in the United States. Revenue from technology out-licensing increased due to an increase in sales royalties from AstraZeneca in relation to benralizumab, as well as the recognition as revenue of the full amount of contract liabilities associated with the partnership agreement with Amgen for KHK4083/AMG 451 (rocatinlimab) following the termination of that agreement.
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9 Kyowa Kirin Co., Ltd. (4151) 3) Core operating profit Core operating profit increased year on year due to an increase in gross profit and a decrease in research and development expenses, despite an increase in selling, general and administrative expenses.
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10 Kyowa Kirin Co., Ltd. (4151) (3) Summary of Quarterly Consolidated Cash Flows (Billions of yen) Nine months ended September 30, 2025 Nine months ended September 30, 2026 Year-on-year change Rate of change (%) Net cash provided by (used in) operating activities 69.6 86.3 16.7 24.0% Net cash provided by (used in) investing activities (41.6) (26.6) 15.0 (36.0)% Net cash provided by (used in) financing activities (33.6) (38.1) (4.5) 13.5% Cash and cash equivalents at beginning of period 244.7 218.8 (25.9 ) (10.6)% Cash and cash equivalents at end of period 240.2 241.1 0.9 0.4% Cash and cash equivalents as of September 30, 2026 were ¥241.1 billion, an increase of ¥22.3 billion compared with the balance of ¥218.8 billion as of December 31, 2025. The main contributing factors affecting cash flow during the nine months ended September 30, 2026 were as follows: Net cash provided by operating activities was ¥86.3 billion, compared with net cash provided by operating activities of ¥69.6 billion in the same period of the previous fiscal year. The major inflows were profit before tax of ¥64.7 billion, a decrease in trade receivables of ¥40.7 billion, depreciation and amortization of ¥23.1 billion, and impairment losses (reversal of impairment losses) of ¥6.5 billion. Major outflows were a decrease in contract liabilities of ¥9.9 billion and income taxes refund (paid) of ¥8.0 billion. Net cash used in investing activities was ¥26.6 billion, compared with net cash used in investing activities of ¥41.6 billion in the same period of the previous fiscal year. Major outflows were purchase of property, plant and equipment of ¥26.2 billion and purchase of intangible assets of ¥4.8 billion. A major inflow was ¥5.4 billion in proceeds from sale of investments in subsidiaries following the transfer of the established pharmaceuticals joint venture in EMEA. Net cash used in financing activities was ¥38.1 billion, compared with net cash used in financing activities of ¥33.6 billion in the same period of the previous fiscal year. A major outflow was dividends paid of ¥35.1 billion.
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11 Kyowa Kirin Co., Ltd. (4151) (4) Research and Development Activities The Group continuously and actively invests management resources in research and development activities. In accordance with the Story for Vision 2030 formulated in 2024, in research, the Group has designated bone and mineral, intractable hematological diseases/hemato oncology, and rare diseases as focus disease areas. The Group aims to continually create life-changing value by seeking to concentrate resources in areas where it can leverage its expertise, while strengthening research into innovative modalities, including advanced antibody technologies and hematopoietic stem cell gene therapy. To achieve this, the Group is working to sustainably achieve drug discovery in line with its strategy by strengthening in- house research capabilities under an R&D structure that cuts across Japanese and overseas locations, and by promoting open innovation with external partners. In development, the Group aims to maximize product value by utilizing strategic collaboration with external partners in addition to self-driven global expansion, while steadily delivering pharmaceuticals to patients who need them. The Group will steadily deliver the life- changing value thus created to patients and seek to achieve sustainable growth. For the nine months ended September 30, 2026, the Group’s research and development expenses totaled ¥67.7 billion. <Development status of major development products> As of September 30, 2026 Code Name, Generic Name Indication Development status ziftomenib Acute Myeloid Leukemia (AML) (as monotherapy or in combination; in newly diagnosed and relapsed/refractory patients) Already marketed as KOMZIFTI (US); Ph I / II / III clinical studies ongoing for label expansion OTL-203 Mucopolysaccharidosis type IH (Hurler syndrome) Pivotal study (Equivalent to Ph III study): in progress KK8398, infigratinib Achondroplasia Ph III clinic al study: in progress Hypochondroplasia Ph III clinical s tudy: preparation underway KHK4951, tivozanib Neovascular Age-related Macular Degeneration (nAMD) Ph II clinical study: in progress Diabetic Macular Edema (DME) Ph II clinical study: in progress OTL-201 Mucopolysaccharidosis type IIIA (Sanfilippo syndrome type A) PoC study (Equivalent to Ph I / II study): in progress KK4277 Systemic Lupus Erythematosus (SLE)/Cutaneous Lupus Erythematosus (CLE) Ph I clinical study: completed KK2260 Advanced or metastatic solid tumors Ph I c linical study: in progress KK2269 Advanced or metastatic solid tumors Ph I c linical study: in progress KK2845 Acute Myeloid Leukemia (AML) and other Hematologic Malignancies Ph I clinical study: in progress KK8123 X-linked Hypophosphatemia (XLH) Ph I / II clinical study: in pr ogress KK3910 Essential Hypertension Ph I c linical study: in progress OTL-200, atidarsagene autotemcel Early-onset Metachromatic Leukodystrophy (MLD) Already marketed as Libmeldy (Europe) /Lenmeldy (US) Ph III clinical study (JP): preparation underway NDA (JP): Filed KK2223 Cutaneous T-Cell Lymphoma (CTCL) Peripheral T-cell Lymphoma (PTCL) Ph I clinical study: in progress KK8005 X-linked Hypophosphatemia (XLH) Ph I / II clinical study: in pr ogress KK4408 Autoimmune disease Ph I / II clin ical study: in preparation
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12 Kyowa Kirin Co., Ltd. (4151) Ziftomenib (Product name in the U.S.: KOMZIFTITM) is an oral menin inhibitor in development by Kura Oncology, Inc. for the treatment of genetically defined acute myeloid leukemia (AML) patients with high unmet need. In November 2024, Kura Oncology and Kyowa Kirin entered into a global strategic collaboration to develop and commercialize ziftomenib in acute leukemias. Under the terms of the agreement, the companies will jointly develop and commercialize ziftomenib. Kura Oncology, Inc. will lead development, regulatory and commercial strategy in the U.S. Outside the U.S., Kyowa Kirin will lead development, regulatory and commercial strategy. In November 2025, the U.S. Food and Drug Administration (FDA) granted full approval of ziftomenib for the treatment of adult patients with relapsed or refractory (R/R) AML with an NPM1 mutation. Ziftomenib is now being evaluated in multiple ongoing clinical trials aimed at expanding its use across broader AML patient populations. These include: the Phase III KOMET-017 trial of ziftomenib in combination with intensive or non-intensive chemotherapy in newly diagnosed AML; the Phase I KOMET-007 trial of ziftomenib in combination with intensive or non- intensive chemotherapy in patients with R/R or newly diagnosed NPM1-m or KMT2A-r AML, as well as in combination with intensive chemotherapy and quizartinib in newly diagnosed NPM1-m/FLT3-m AML; and the Phase I KOMET-008 trial evaluating ziftomenib-based combination therapies, including ziftomenib in combination with gilteritinib in R/R NPM1-m/FLT3-m AML. Since April 2026, a Phase II clinical trial in Japan has been underway for patients with R/R NPM1-m AML. In August 2026, ziftomenib received orphan drug designation in Japan for the treatment of AML with NPM1-m or KMT2A-r. OTL-203 is an investigational HSC gene therapy in development for the treatment of mucopolysaccharidosis type IH (Hurler syndrome). Orchard Therapeutics is currently implementing a registrational study (equivalent to a Phase III clinical study) of OTL-203 as a therapy to potentially correct the underlying cause of Hurler syndrome. KK8398 (infigratinib) is a small-molecular FGFR3 inhibitor, which has been developed for bone diseases by QED Therapeutics, wholly owned by BridgeBio. In February 2024, the Company entered into a partnership wherein QED Therapeutics grants Kyowa Kirin an exclusive license to develop and commercialize infigratinib for achondroplasia, hypochondroplasia, and other skeletal dysplasias in Japan. A Phase III clinical trial for achondroplasia is ongoing in Japan. The Company is currently preparing for a Phase III clinical trial for hypochondroplasia in Japan. In June 2026, KK8398 (infigratinib) received orphan drug designation in Japan for the treatment of achondroplasia without closed growth plates. In August 2026, we received orphan drug designation in Japan for the treatment of hypochondroplasia in patients without closed growth plates. Tivozanib, the active ingredient of KHK4951 is a small-molecule vascular endothelial growth factor receptor (VEGFR) -1, -2, and -3 tyrosine kinase inhibitor (TKI) discovered and developed by Kyowa Kirin. KHK4951 is a novel nano-crystalized tivozanib eye drops designed to deliver it efficiently to the posterior ocular tissues and has the potential to provide a novel non-invasive treatment option for patients with neovascular age-related macular degeneration (nAMD) and diabetic macular edema (DME). Phase II clinical studies are ongoing. In September 2026, we disclosed topline data from a Phase II study in nAMD. OTL-201 is an investigational HSC gene therapy in development for the treatment of mucopolysaccharidosis type IIIA (Sanfilippo syndrome). A proof-of-concept (Equivalent to a Phase I / II study) is ongoing.
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13 Kyowa Kirin Co., Ltd. (4151) KK4277 is an optimized antibody based on antibodies licensed from SBI Biotech. It has been enhanced with antibody-dependent cell-mediated cytotoxicity (ADCC) activity using our POTELLIGENT technology. A Phase I study in systemic lupus erythematosus (SLE) and cutaneous lupus erythematosus (CLE) has been completed, and the future development strategy is currently being considered based on the results obtained. KK2260 is an EGFR-TfR1 bispecific antibody developed using the Company’s proprietary bispecific antibody technology REGULGENT. It is designed as an antibody that achieves selective iron depletion in cancer cells, and in non-clinical trials it showed high efficacy and tolerability. A Phase I clinical trial is ongoing. KK2269 is an EpCAM-CD40 bispecific antibody developed using the Company’s proprietary bispecific antibody technology REGULGENT. It is designed as an antibody that activates only antigen-presenting cells near the tumor by cross-linking EpCAM, which is highly expressed in various tumors, with CD40 on antigen-presenting cells. In non-clinical trials, it was found to exhibit the therapeutic effects of anti- tumor immunity while suppressing systemic side effects. A Phase I clinical trial is ongoing. KK2845 is the Company’s first antibody-drug conjugate (ADC). The target molecule is TIM-3, a Phase I clinical trial for acute myeloid leukemia (AML) and other Hematologic Malignancies is ongoing. KK8123 is a human antibody targeting FGF23. A Phase I / II study for XLH is ongoing. KK3910 is an antibody developed by Kyowa Kirin. A Phase I clinical trial for healthy adults and essential hypertension is ongoing. OTL-200 (atidarsagene autotemcel, Product name in the U.S.: Lenmeldy, Product name in Europe: Libmeldy) is an investigational HSC gene therapy aimed at correcting the underlying genetic cause of Metachromatic Leukodystrophy (MLD). OTL-200 received designation as an orphan regenerative medicine product for early-onset MLD in Japan in October 2025. The NDA was filed in Japan in March 2026 and the Company is preparing a Phase III clinical trial in Japan. KK2223 is an in-house-discovered antibody-drug conjugate (ADC). A Phase I clinical study for cutaneous T-cell lymphoma (CTCL) and peripheral T-cell lymphoma (PTCL) is ongoing in NA. KK8005 is an antibody developed by Kyowa Kirin. A Phase I / II clinical study in patients with X-linked hypophosphatemia (XLH) is ongoing. KK4408 is an in-house antibody leveraging our proprietary bispecific antibody technology, REGULGENT. A Phase I / II clinical study in autoimmune diseases is in preparation.
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14 Kyowa Kirin Co., Ltd. (4151) R&D pipeline
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15 Kyowa Kirin Co., Ltd. (4151) Note: On October 6, 2026, dosing of KK4408 commenced for the fi rst patient in the Phase I / II study in Japan targeting autoimmune diseases. Major Applications and Approvals Code Name, Generic Name, Product Name Indication Application/ Under Review Countries/ Regions Received Approval in 2026 OTL-200 (atidarsagene autotemcel, product name in the U.S.: Lenmeldy; product name in Europe: Libmeldy) Early-onset Metachromatic Leukodystrophy (MLD) Application filed in Japan ― (5) Summary of Consolidated Earnings Forecasts and Other Forward-looking Statements No revisions have been made to the consolidated earnings forecasts announced on May 7, 2026.
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16 Kyowa Kirin Co., Ltd. (4151) 2. Condensed Quarterly Consolidated Financial Statements and Significant Notes Thereto (1) Condensed Quarterly Consolidated Statement of Financial Position (Millions of yen) As of December 31, 2025 As of September 30, 2026 Assets Non-current assets Property, plant and equipment 141,225 147,566 Goodwill 183,497 179,067 Intangible assets 201,415 189,951 Investments accounted for using equity method 9,244 9,515 Other financial assets 16,566 17,451 Retirement benefit asset 21,164 21,444 Deferred tax assets 32,052 32,872 Other non-current assets 9,349 7,925 Total non-current assets 614,512 605,789 Current assets Inventories 67,440 65,206 Trade and other receivables 181,205 143,117 Other financial assets 1,054 780 Other current assets 24,880 31,870 Cash and cash equivalents 218,769 241,114 Subtotal 493,348 482,087 Assets held for sale – 503 Total current assets 493,348 482,591 Total assets 1,107,860 1,088,380
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17 Kyowa Kirin Co., Ltd. (4151) (1) Condensed Quarterly Consolidated Statement of Financial Pos ition (continued) (Millions of yen) As of December 31, 2025 As of September 30, 2026 Equity Share capital 26,745 26,745 Capital surplus 427,733 427,766 Treasury shares (5,585) (5,387) Retained earnings 406,321 422,508 Other components of equity 38,117 36,910 Total equity attributable to owners of parent 893,332 908,543 Total equity 893,332 908,543 Liabilities Non-current liabilities Liabilities from application of equity method 2,190 3,473 Retirement benefit liability 280 242 Provisions 4,414 4,494 Deferred tax liabilities 387 443 Other financial liabilities 22,283 19,463 Other non-current liabilities 3,896 1,443 Total non-current liabilities 33,450 29,558 Current liabilities Trade and other payables 125,041 100,147 Provisions 3,938 2,036 Other financial liabilities 8,836 4,933 Income taxes payable 9,668 18,856 Other current liabilities 33,595 24,307 Total current liabilities 181,078 150,278 Total liabilities 214,528 179,837 Total equity and liabilities 1,107,860 1,088,380
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18 Kyowa Kirin Co., Ltd. (4151) (2) Condensed Quarterly Consolidated Statement of Profit or Los s and Condensed Quarterly Consolidated Statement of Comprehensive Income Condensed Quarterly Consolidated Statement of Profit or Loss (Millions of yen) Note: Diluted earnings per share for the nine months ended Sept ember 30, 2026 is not stated because there are no potential shares. January 1, 2025 to September 30, 2025 January 1, 2026 to September 30, 2026 Revenue 349,451 384,947 Cost of sales (90,061) (96,583) Gross profit 259,390 288,364 Selling, general and administrative expenses (116,433) (123,714) Research and development expenses (76,835) (67,698) Amortization of intangible assets (5,114) (8,821) Share of profit (loss) of investments accounted for using equity method 985 662 Other income 749 1,003 Other expenses (14,740) (30,941) Finance income 3,132 7,705 Finance costs (3,209) (1,831) Profit before tax 47,924 64,728 Income tax expense (15,326) (13,055) Profit 32,599 51,673 Profit attributable to Owners of parent 32,599 51,673 Earnings per share Basic earnings per share (Yen) 62.28 98.70 Diluted earnings per share (Yen) 62.28 –
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19 Kyowa Kirin Co., Ltd. (4151) Condensed Quarterly Consolidated Statement of Comprehensive Income (Millions of yen) January 1, 2025 to September 30, 2025 January 1, 2026 to September 30, 2026 Profit 32,599 51,673 Other comprehensive income Items that will not be reclassified to profit or loss Financial assets measured at fair value through other comprehensive income (139) (175) Share of other comprehensive income of investments accounted for using equity method – 6 Total of items that will not be reclassified to profit or loss (139) (169) Items that may be reclassified to profit or loss Exchange differences on translation of foreign operations (6,196) (1,684) Share of other comprehensive income of investments accounted for using equity method (266) 238 Total of items that may be reclassified to profit or loss (6,462) (1,446) Other comprehensive income (6,601) (1,615) Comprehensive income 25,998 50,058 Comprehensive income attributable to Owners of parent 25,998 50,058
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20 Kyowa Kirin Co., Ltd. (4151) (3) Condensed Quarterly Consolidated Statement of Changes in Equity January 1, 2025 to September 30, 2025 (Millions of yen) Equity attributable to owners of parent Share capital Capital surplus Treasury shares Retained earnings Other components of equity Share acquisition rights Exchange differences on translation of foreign operations Balance at January 1, 2025 26,745 427,733 (5,887) 371,050 27 30,661 Profit – – – 32,599 – – Other comprehensive income – – – – – (6,462) Total comprehensive income – – – 32,599 – (6,462) Dividends of surplus – – – (30,882) – – Purchase of treasury shares –– ( 6 ) – – – Disposal of treasury shares – (8) 56 – – – Share-based remuneration transactions – (3) 183 – (27) – Transfer from other components of equity to retained earnin gs ––– 3 5 – – Total transactions with owners – (10) 233 (30,847) (27) – Balance at September 30, 2025 26,745 427,723 (5,654) 372,801 – 24, 199 Equity attributable to owners of parent Total equity Other components of equity Total Financial assets measured at fair value through other comprehensive income Total Balance at January 1, 2025 482 31,171 850,811 850,811 Profit – – 32,599 32,599 Other comprehensive income (139) (6,601) (6,601) (6,601) Total comprehensive income (139) (6,601) 25,998 25,998 Dividends of surplus – – (30,882) (30,882) Purchase of treasury shares – – (6) (6) Disposal of treasury shares – – 48 48 Share-based remuneration transactions – (27) 153 153 Transfer from other components of equity to retained earnings (35) (35) – – Total transactions with owners (35) (62) (30,686) (30,686) Balance at September 30, 2025 309 24,507 846,123 846,123
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21 Kyowa Kirin Co., Ltd. (4151) (3) Condensed Quarterly Consolidated Statement of Changes in Eq uity (continued) January 1, 2026 to September 30, 2026 (Millions of yen) Equity attributable to owners of parent Share capital Capital surplus Treasury shares Retained earnings Other components of equity Share acquisition rights Exchange differences on translation of foreign operations Balance at January 1, 2026 26,745 427,733 (5,585) 406,321 – 37,693 Profit – – – 51,673 – – Other comprehensive income – – – – – (1,446) Total comprehensive income – – – 51,673 – (1,446) Dividends of surplus – – – (35,077) – – Purchase of treasury shares –– ( 8 ) – – – Disposal of treasury shares – (2) 12 – – – Share-based remuneration transactions – 35 194 – – – Transfer from other components of equity to retained earnin gs – – – (408) – – Total transactions with owners – 33 198 (35,486) – – Balance at September 30, 2026 26,745 427,766 (5,387) 422,508 – 36, 247 Equity attributable to owners of parent Total equity Other components of equity Total Financial assets measured at fair value through other comprehensive income Total Balance at January 1, 2026 424 38,117 893,332 893,332 Profit – – 51,673 51,673 Other comprehensive income (169) (1,615) (1,615) (1,615) Total comprehensive income (169) (1,615) 50,058 50,058 Dividends of surplus – – (35,077) (35,077) Purchase of treasury shares – – (8) (8) Disposal of treasury shares – – 10 10 Share-based remuneration transactions – – 229 229 Transfer from other components of equity to retained earnings 408 408 – – Total transactions with owners 408 408 (34,846) (34,846) Balance at September 30, 2026 663 36,910 908,543 908,543
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22 Kyowa Kirin Co., Ltd. (4151) (4) Condensed Quarterly Consolidated Statement of Cash Flows (Millions of yen) January 1, 2025 to September 30, 2025 January 1, 2026 to September 30, 2026 Cash flows from operating activities Profit before tax 47,924 64,728 Depreciation and amortization 18,752 23,079 Impairment losses (reversal of impairment losses) 1,307 6,528 Increase (decrease) in provisions 1,530 (2,022) Share of loss (profit) of investments accounted for using equity method (985) (662) Foreign exchange loss (gain) 600 (1,698) Decrease (increase) in inventories 70 1,945 Decrease (increase) in trade receivables 1,511 40,689 Increase (decrease) in trade payables (1,955) 1,618 Increase (decrease) in contract liabilities (5,845) (9,892) Income taxes refund (paid) (3,112) (8,046) Other 9,824 (29,970) Net cash provided by (used in) operating activities 69,623 86,2 98 Cash flows from investing activities Purchase of property, plant and equipment (24,344) (26,237) Proceeds from sale of property, plant and equipment 126 92 Purchase of intangible assets (13,005) (4,842) Purchase of investment securities (1,057) (1,037) Proceeds from sale of investment securities 275 – Proceeds from sale of investments in subsidiaries resulting in change in scope of consolidation – 5,361 Proceeds from redemption of bonds of subsidiaries and associates 4,000 – Transfers to escrow account (7,700) – Other 62 26 Net cash provided by (used in) investing activities (41,643) (2 6,636) Cash flows from financing activities Repayments of lease liabilities (2,734) (3,049) Purchase of treasury shares (6) (8) Dividends paid (30,882) (35,077) Other 21 10 Net cash provided by (used in) financing activities (33,600) (3 8,124) Effect of exchange rate changes on cash and cash equivalents 1,150 807 Net increase (decrease) in cash and cash equivalents (4,470) 22 ,345 Cash and cash equivalents at beginning of period 244,681 218,76 9 Cash and cash equivalents at end of period 240,211 241,114
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23 Kyowa Kirin Co., Ltd. (4151) (5) Notes to Condensed Quarterly Consolidated Financial Statements Segment information The Group omitted information by reportable segment as the Group consists of only the one reportable segment, which is the Pharmaceuticals business. Notes on going concern assumption No applicable items. Changes in accounting estimates Changes in estimates of useful lives On May 7, 2026, the Company announced plans to further strengthen its drug discovery capabilities by consolidating the Fuji Site (located in Nagaizumi, Suntou, Shizuoka) and the Tokyo Research Park (located in Machida, Tokyo) and relocating them to the Yokohama Business Park (located in Yokohama, Kanagawa) as a new research base. In connection with this relocation, the useful life of buildings and structures that are not expected to be used after the move has been changed during the nine months ended September 30, 2026. As a result, compared to the previous method, research and development expenses for the nine months ended September 30, 2026 increased by ¥441 million, and profit before tax decreased by the same amount. Changes in presentation Condensed Quarterly Consolidated Statement of Profit or Loss In the nine months ended September 30, 2025, amortization of sales rights, which had been included in “Selling, general and administrative expenses,” has been presented separately as “Amortization of intangible assets” due to an increase in its monetary materiality. To reflect this change in the presentation method, the Group has reclassified the amounts in its Condensed Quarterly Consolidated Financial Statements for the nine months ended September 30, 2025. As a result, negative ¥121,548 million in “Selling, general and administrative expenses” that was shown in the Condensed Quarterly Consolidated Statement of Profit or Loss for the nine months ended September 30, 2025, was reclassified as negative ¥116,433 million in “Selling, general and administrative expenses” and negative ¥5,114 million in “Amortization of intangible assets.” Cash flow information Negative ¥7,700 million in “Transfers to escrow account” during the nine months ended September 30, 2025 is a deposit made to the escrow account (account with restrictions on deposits and withdrawals) as part of the construction funds for a new biopharmaceutical drug substance manufacturing building in the U.S.