Cover
Cover | 12 Months Ended |
Mar. 31, 2024 shares | |
Document Information [Line Items] | |
Document type | 20-F |
Document registration statement | false |
Document annual report | true |
Current fiscal year end date | --03-31 |
Document period end date | Mar. 31, 2024 |
Document transition report | false |
Document shell company report | false |
Entity file number | 001-38757 |
Entity registrant name | Takeda Pharmaceutical Company Limited |
Entity incorporation, state or country code | M0 |
Entity address, address line one | 1-1, Nihonbashi-Honcho 2-Chome |
Entity address, address line two | Chuo-ku |
Entity address, city or town | Tokyo |
Entity address, postal zip code | 103-8668 |
Entity address, country | JP |
Entity well-known seasoned issuer | Yes |
Entity voluntary filers | No |
Entity current reporting status | Yes |
Entity interactive data current | Yes |
Entity filer category | Large Accelerated Filer |
Entity emerging growth company | false |
ICFR auditor attestation flag | true |
Document Financial Statement Error Correction [Flag] | false |
Document accounting standard | International Financial Reporting Standards |
Entity shell company | false |
Entity central index key | 0001395064 |
Document fiscal year focus | 2024 |
Document fiscal period focus | FY |
Amendment flag | false |
ADS | |
Document Information [Line Items] | |
Entity common stock, shares outstanding (in shares) | 120,169,678 |
Ordinary shares | |
Document Information [Line Items] | |
Entity common stock, shares outstanding (in shares) | 1,569,013,464 |
New York Stock Exchange | ADS | |
Document Information [Line Items] | |
Title of 12(b) security | American Depositary Shares Representing Common Stock Common Stock, no par value |
Trading symbol | TAK |
Security exchange name | NYSE |
0.750% Senior Notes due 2027 | New York Stock Exchange | Ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) security | 0.750% Senior Notes due 2027 |
Trading symbol | TAK27 |
Security exchange name | NYSE |
1.000% Senior Notes due 2029 | New York Stock Exchange | Ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) security | 1.000% Senior Notes due 2029 |
Trading symbol | TAK29 |
Security exchange name | NYSE |
1.375% Senior Notes due 2032 | New York Stock Exchange | Ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) security | 1.375% Senior Notes due 2032 |
Trading symbol | TAK32 |
Security exchange name | NYSE |
2.000% Senior Notes due 2040 | New York Stock Exchange | Ordinary shares | |
Document Information [Line Items] | |
Title of 12(b) security | 2.000% Senior Notes due 2040 |
Trading symbol | TAK40A |
Security exchange name | NYSE |
Business contact | |
Document Information [Line Items] | |
Contact personnel name | Milano Furuta |
Entity address, address line one | 1-1, Nihonbashi-Honcho 2-Chome |
Entity address, address line two | Chuo-ku |
Entity address, city or town | Tokyo |
Entity address, postal zip code | 103-8668 |
Entity address, country | JP |
City area code | +81 |
Local phone number | 3 3278-2306 |
Contact personnel fax number | +81 3 3278-2268 |
Contact personnel email address | Global.External.Reporting@takeda.com |
Audit Information
Audit Information | 12 Months Ended |
Mar. 31, 2024 | |
Auditor Information [Abstract] | |
Auditor Firm ID | 1009 |
Auditor Name | KPMG AZSA LLC |
Auditor Location | Tokyo, Japan |
Consolidated Statements of Prof
Consolidated Statements of Profit or Loss - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Profit or loss [abstract] | |||
Revenue | ¥ 4,263,762 | ¥ 4,027,478 | ¥ 3,569,006 |
Cost of sales | (1,426,678) | (1,244,072) | (1,106,846) |
Selling, general and administrative expenses | (1,053,819) | (997,309) | (886,361) |
Research and development expenses | (729,924) | (633,325) | (526,087) |
Amortization and impairment losses on intangible assets associated with products | (652,117) | (542,443) | (472,915) |
Other operating income | 19,379 | 25,424 | 43,123 |
Other operating expenses | (206,527) | (145,247) | (159,075) |
Operating profit | 214,075 | 490,505 | 460,844 |
Finance income | 52,093 | 62,913 | 23,700 |
Finance expenses | (219,850) | (169,698) | (166,607) |
Share of profit (loss) of investments accounted for using the equity method | 6,473 | (8,630) | (15,367) |
Profit before tax | 52,791 | 375,090 | 302,571 |
Income tax (expenses) benefit | 91,406 | (58,052) | (72,405) |
Net profit for the year | 144,197 | 317,038 | 230,166 |
Attributable to: | |||
Owners of the Company | 144,067 | 317,017 | 230,059 |
Non-controlling interests | 130 | 21 | 107 |
Net profit for the year | ¥ 144,197 | ¥ 317,038 | ¥ 230,166 |
Earnings per share (JPY) | |||
Basic earnings per share (in JPY per share) | ¥ 92.09 | ¥ 204.29 | ¥ 147.14 |
Diluted earnings per share (in JPY per share) | ¥ 91.16 | ¥ 201.94 | ¥ 145.87 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of comprehensive income [abstract] | |||
Net profit for the year | ¥ 144,197 | ¥ 317,038 | ¥ 230,166 |
Items that will not be reclassified to profit or loss: | |||
Changes in fair value of financial assets measured at fair value through other comprehensive income | 2,309 | (2,654) | (14,626) |
Remeasurement of defined benefit pension plans | (5,002) | 17,752 | 20,783 |
Other comprehensive income that will not be reclassified to profit or loss, net of tax | (2,693) | 15,098 | 6,158 |
Items that may be reclassified subsequently to profit or loss: | |||
Exchange differences on translation of foreign operations | 968,842 | 618,773 | 583,969 |
Cash flow hedges | 23,456 | (21,451) | 2,173 |
Hedging cost | 7,197 | (16,993) | 2,457 |
Share of other comprehensive loss of investments accounted for using the equity method | (1,793) | (892) | (497) |
Other comprehensive income that will be reclassified to profit or loss, net of tax | 997,702 | 579,437 | 588,103 |
Other comprehensive income for the year, net of tax | 995,009 | 594,535 | 594,261 |
Total comprehensive income for the year | 1,139,206 | 911,574 | 824,427 |
Attributable to: | |||
Owners of the Company | 1,139,033 | 911,529 | 824,258 |
Non-controlling interests | 173 | 45 | 168 |
Total comprehensive income for the year | ¥ 1,139,206 | ¥ 911,574 | ¥ 824,427 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Non-current assets: | ||
Property, plant and equipment | ¥ 1,989,777 | ¥ 1,691,229 |
Goodwill | 5,410,067 | 4,790,723 |
Intangible assets | 4,274,682 | 4,269,657 |
Investments accounted for using the equity method | 89,831 | 99,174 |
Other financial assets | 340,777 | 279,683 |
Other non-current assets | 51,214 | 63,325 |
Deferred tax assets | 393,865 | 366,003 |
Total non-current assets | 12,550,212 | 11,559,794 |
Current assets: | ||
Inventories | 1,209,869 | 986,457 |
Trade and other receivables | 668,403 | 649,429 |
Other financial assets | 15,089 | 20,174 |
Income taxes receivable | 29,207 | 32,264 |
Other current assets | 168,875 | 160,868 |
Cash and cash equivalents | 457,800 | 533,530 |
Assets held for sale | 9,337 | 15,235 |
Total current assets | 2,558,580 | 2,397,956 |
Total assets | 15,108,792 | 13,957,750 |
Non-current liabilities: | ||
Bonds and loans | 4,476,501 | 4,042,741 |
Other financial liabilities | 687,833 | 534,269 |
Net defined benefit liabilities | 143,882 | 127,594 |
Income taxes payable | 4,381 | 24,558 |
Provisions | 14,373 | 55,969 |
Other non-current liabilities | 80,938 | 65,389 |
Deferred tax liabilities | 113,777 | 270,620 |
Total non-current liabilities | 5,521,684 | 5,121,138 |
Current liabilities: | ||
Bonds and loans | 367,251 | 339,600 |
Trade and other payables | 547,521 | 649,233 |
Other financial liabilities | 143,421 | 185,537 |
Income taxes payable | 109,906 | 232,377 |
Provisions | 524,420 | 508,360 |
Other current liabilities | 619,174 | 566,689 |
Liabilities held for sale | 1,410 | 144 |
Total current liabilities | 2,313,103 | 2,481,940 |
Total liabilities | 7,834,788 | 7,603,078 |
Equity: | ||
Share capital | 1,676,596 | 1,676,345 |
Share premium | 1,747,414 | 1,728,830 |
Treasury shares | (51,259) | (100,317) |
Retained earnings | 1,391,203 | 1,541,146 |
Other components of equity | 2,509,310 | 1,508,119 |
Equity attributable to owners of the Company | 7,273,264 | 6,354,122 |
Non-controlling interests | 741 | 549 |
Total equity | 7,274,005 | 6,354,672 |
Total liabilities and equity | ¥ 15,108,792 | ¥ 13,957,750 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity - JPY (¥) ¥ in Millions | Total | Total equity attributable to owners of the Company | Share capital | Share premium | Treasury shares | Retained earnings | Total other components of equity | Exchange differences on translation of foreign operations | Changes in fair value of financial assets measured at fair value through other comprehensive income | Cash flow hedges | Hedging cost | Remeasurements of defined benefit pension plans | Non- controlling interests |
Equity, as of beginning of period at Mar. 31, 2021 | ¥ 5,177,177 | ¥ 5,173,037 | ¥ 1,668,145 | ¥ 1,688,424 | ¥ (59,552) | ¥ 1,509,906 | ¥ 366,114 | ¥ 400,798 | ¥ 41,983 | ¥ (68,075) | ¥ (8,592) | ¥ 0 | ¥ 4,140 |
Net profit for the year | 230,166 | 230,059 | 230,059 | 0 | 107 | ||||||||
Other comprehensive income (loss) | 594,261 | 594,200 | 594,200 | 583,343 | (14,558) | 2,173 | 2,457 | 20,783 | 61 | ||||
Total comprehensive income for the year | 824,427 | 824,258 | 230,059 | 594,200 | 583,343 | (14,558) | 2,173 | 2,457 | 20,783 | 168 | |||
Changes in equity [abstract] | |||||||||||||
Issuance of new shares (Note 26) | 22,154 | 22,154 | 8,118 | 14,036 | 0 | ||||||||
Acquisition of treasury shares (Note 26) | (79,447) | (79,447) | (79,447) | 0 | |||||||||
Disposal of treasury shares | 1 | 1 | 1 | 0 | |||||||||
Dividends | (284,246) | (284,246) | (284,246) | 0 | |||||||||
Changes in ownership | (5,948) | (2,143) | (2,143) | 0 | (3,804) | ||||||||
Transfers from other components of equity | 0 | 0 | 26,141 | (26,141) | (5,357) | (20,783) | |||||||
Share-based compensation | 43,374 | 43,374 | 43,374 | 0 | |||||||||
Exercise of share-based awards | (13,968) | (13,968) | (36,960) | 22,992 | 0 | ||||||||
Total transactions with owners | (318,080) | (314,276) | 8,118 | 20,450 | (56,454) | (260,249) | (26,141) | 0 | (5,357) | 0 | 0 | (20,783) | (3,804) |
Equity, as of end of period at Mar. 31, 2022 | 5,683,523 | 5,683,019 | 1,676,263 | 1,708,873 | (116,007) | 1,479,716 | 934,173 | 984,141 | 22,068 | (65,901) | (6,135) | 0 | 504 |
Effect of hyperinflation | 2,161 | 2,161 | (1,960) | 4,121 | 4,121 | ||||||||
Restated opening balance | 5,685,684 | 5,685,180 | 1,676,263 | 1,708,873 | (116,007) | 1,477,756 | 938,294 | 988,263 | 22,068 | (65,901) | (6,135) | 0 | 504 |
Net profit for the year | 317,038 | 317,017 | 317,017 | 0 | 21 | ||||||||
Other comprehensive income (loss) | 594,535 | 594,512 | 594,512 | 617,866 | (2,663) | (21,451) | (16,993) | 17,752 | 24 | ||||
Total comprehensive income for the year | 911,574 | 911,529 | 317,017 | 594,512 | 617,866 | (2,663) | (21,451) | (16,993) | 17,752 | 45 | |||
Changes in equity [abstract] | |||||||||||||
Issuance of new shares (Note 26) | 164 | 164 | 82 | 82 | 0 | ||||||||
Acquisition of treasury shares (Note 26) | (27,065) | (27,065) | (5) | (27,060) | 0 | ||||||||
Disposal of treasury shares | 1 | 1 | 0 | ||||||||||
Dividends | (278,313) | (278,313) | (278,313) | 0 | |||||||||
Transfers from other components of equity | 0 | 0 | 24,687 | (24,687) | (6,935) | (17,752) | |||||||
Share-based compensation | 62,670 | 62,670 | 62,670 | 0 | |||||||||
Exercise of share-based awards | (42) | (42) | (42,791) | 42,749 | 0 | ||||||||
Total transactions with owners | (242,586) | (242,586) | 82 | 19,956 | 15,689 | (253,626) | (24,687) | 0 | (6,935) | 0 | 0 | (17,752) | 0 |
Equity, as of end of period at Mar. 31, 2023 | 6,354,672 | 6,354,122 | 1,676,345 | 1,728,830 | (100,317) | 1,541,146 | 1,508,119 | 1,606,128 | 12,470 | (87,352) | (23,127) | 0 | 549 |
Net profit for the year | 144,197 | 144,067 | 144,067 | 0 | 130 | ||||||||
Other comprehensive income (loss) | 995,009 | 994,966 | 994,966 | 967,279 | 2,036 | 23,456 | 7,197 | (5,002) | 44 | ||||
Total comprehensive income for the year | 1,139,206 | 1,139,033 | 144,067 | 994,966 | 967,279 | 2,036 | 23,456 | 7,197 | (5,002) | 173 | |||
Changes in equity [abstract] | |||||||||||||
Issuance of new shares (Note 26) | 502 | 502 | 251 | 251 | 0 | ||||||||
Acquisition of treasury shares (Note 26) | (2,367) | (2,367) | (2,367) | 0 | |||||||||
Disposal of treasury shares | 1 | 1 | 0 | ||||||||||
Dividends | (287,785) | (287,785) | (287,785) | 0 | |||||||||
Changes in ownership | 18 | 0 | 0 | 18 | |||||||||
Transfers from other components of equity | 0 | 0 | (6,226) | 6,226 | 1,224 | 5,002 | |||||||
Share-based compensation | 69,836 | 69,836 | 69,836 | 0 | |||||||||
Exercise of share-based awards | (77) | (77) | (51,503) | 51,426 | 0 | ||||||||
Total transactions with owners | (219,873) | (219,892) | 251 | 18,584 | 49,059 | (294,011) | 6,226 | 0 | 1,224 | 0 | 0 | 5,002 | 18 |
Equity, as of end of period at Mar. 31, 2024 | ¥ 7,274,005 | ¥ 7,273,264 | ¥ 1,676,596 | ¥ 1,747,414 | ¥ (51,259) | ¥ 1,391,203 | ¥ 2,509,310 | ¥ 2,573,407 | ¥ 15,729 | ¥ (63,896) | ¥ (15,930) | ¥ 0 | ¥ 741 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows from operating activities: | |||
Net profit for the year | ¥ 144,197 | ¥ 317,038 | ¥ 230,166 |
Depreciation and amortization | 728,002 | 664,400 | 583,151 |
Impairment losses | 150,017 | 64,394 | 54,515 |
Equity-settled share-based compensation | 70,871 | 60,672 | 43,374 |
Loss on sales and disposal of property, plant and equipment | 6,052 | 10 | 655 |
Gain on divestment of business and subsidiaries | (7,832) | (6,807) | (7,829) |
Change in fair value of financial assets and liabilities associated with contingent consideration arrangements, net | 20,757 | 3,991 | (11,195) |
Finance (income) and expenses, net | 167,757 | 106,785 | 142,907 |
Share of loss (profit) of investments accounted for using the equity method | (6,473) | 8,630 | 15,367 |
Income tax expenses (benefit) | (91,406) | 58,052 | 72,405 |
Changes in assets and liabilities: | |||
Decrease in trade and other receivables | 15,104 | 75,127 | 127,294 |
Increase in inventories | (115,743) | (79,155) | (46,148) |
Increase (decrease) in trade and other payables | (9,895) | (84,804) | 125,157 |
Increase (decrease) in provisions | (126,901) | 31,899 | (58,090) |
Increase (decrease) in other financial liabilities | (18,568) | 31,669 | (49,608) |
Other, net | (7,556) | (88,778) | 41,409 |
Cash generated from operations | 918,383 | 1,163,122 | 1,263,528 |
Income taxes paid | (219,941) | (198,439) | (147,724) |
Tax refunds and interest on tax refunds received | 17,902 | 12,473 | 7,301 |
Net cash from operating activities | 716,344 | 977,156 | 1,123,105 |
Cash flows from investing activities: | |||
Interest received | 11,161 | 5,054 | 2,919 |
Dividends received | 13,191 | 3,562 | 3,401 |
Acquisition of property, plant and equipment | (175,420) | (140,657) | (123,252) |
Proceeds from sales of property, plant and equipment | 8,606 | 962 | 1,815 |
Acquisition of intangible assets | (305,310) | (493,032) | (62,785) |
Acquisition of investments | (6,766) | (10,151) | (8,341) |
Proceeds from sales and redemption of investments | 8,021 | 22,254 | 16,921 |
Acquisition of businesses, net of cash and cash equivalents acquired | 0 | 0 | (49,672) |
Proceeds from sales of business, net of cash and cash equivalents divested | 19,959 | 7,958 | 28,196 |
Payments for the settlement of forward exchange contracts designated as net investment hedges | (33,300) | 0 | 0 |
Other, net | (4,003) | (3,052) | (7,328) |
Net cash used in investing activities | (463,862) | (607,102) | (198,125) |
Cash flows from financing activities: | |||
Net increase (decrease) in short-term loans and commercial papers | 277,000 | 40,000 | (2) |
Proceeds from issuance of bonds and long-term loans | 100,000 | 75,000 | 249,334 |
Repayments of bonds and long-term loans | (320,901) | (356,670) | (810,115) |
Proceeds from the settlement of cross currency interest rate swaps related to bonds | 60,063 | 0 | 0 |
Acquisition of treasury shares | (2,326) | (26,929) | (77,531) |
Interest paid | (100,375) | (108,555) | (108,207) |
Dividends paid | (287,188) | (279,416) | (283,665) |
Repayments of lease liabilities | (54,586) | (43,401) | (39,694) |
Other, net | (26,102) | (9,178) | (385) |
Net cash used in financing activities | (354,416) | (709,148) | (1,070,265) |
Net decrease in cash and cash equivalents | (101,934) | (339,094) | (145,285) |
Cash and cash equivalents at the beginning of the year | 533,530 | 849,695 | 966,222 |
Effects of exchange rate changes on cash and cash equivalents | 26,204 | 22,929 | 28,758 |
Cash and cash equivalents at the end of the year | ¥ 457,800 | ¥ 533,530 | ¥ 849,695 |
Reporting Entity
Reporting Entity | 12 Months Ended |
Mar. 31, 2024 | |
General Information About Financial Statements [Abstract] | |
Reporting Entity | Reporting Entity Takeda Pharmaceutical Company Limited (the “Company”) is a public company incorporated in Japan. The Company and its subsidiaries (collectively, “Takeda”) is a global, values-based, R&D-driven biopharmaceutical company with a diverse portfolio, engaged primarily in the research, development, production and global commercialization of pharmaceutical products. Takeda’s principal pharmaceutical products include medicines in the following key business areas: Gastroenterology (“GI”), Rare Diseases, Plasma-Derived Therapies (“PDT”) immunology, Oncology, and neuroscience. |
Basis of Preparation
Basis of Preparation | 12 Months Ended |
Mar. 31, 2024 | |
General Information About Financial Statements [Abstract] | |
Basis of Preparation | Basis of Preparation Compliance with International Financial Reporting Standards Takeda’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The term IFRS also includes International Accounting Standards (“IASs”) and the related interpretations of the interpretation’s committees (Standard Interpretations Committee (“SIC”) and International Financial Reporting Interpretations Committee (“IFRIC”)). Approval of Financial Statements The Company’s consolidated financial statements presented were approved on June 26, 2024 by Representative Director, President & Chief Executive Officer (“CEO”) Christophe Weber and Director & Chief Financial Officer (“CFO”) Milano Furuta. Basis of Measurement The consolidated financial statements have been prepared on a historical cost basis, except for certain assets and liabilities recorded at fair value including equity investments, derivative financial instruments, financial assets and liabilities associated with contingent consideration arrangements, and the application of hyperinflationary accounting at subsidiaries. Functional and Presentation Currency The consolidated financial statements are presented in Japanese Yen (“JPY”), which is the functional currency of the Company. All financial information presented in JPY has been rounded to the nearest million JPY, except when otherwise indicated. In tables with rounded figures, sums may not add up due to rounding. New Accounting Standards and Interpretations Adopted On May 23, 2023, amendments to IAS 12 Income Taxes (“IAS 12”) were issued to clarify requirements relating to the International Tax Reform - Pillar Two model rules. As required by the amended IAS 12, Takeda adopted immediately and retrospectively the exception to neither recognize nor disclose information about deferred tax assets and liabilities related to Pillar Two model rules. Takeda incorporated new disclosures regarding the exposure of Pillar Two model rules into Note 7 of the consolidated financial statements for the fiscal year ended March 31, 2024. New Accounting Standards and Interpretations Issued and Not Yet Adopted On April 9, 2024, the IASB has issued IFRS 18 Presentation and Disclosure in Financial Statements (“IFRS 18”), which replaces IAS 1 Presentation of Financial Statements . IFRS 18 introduces certain new requirements to improve the reporting of companies’ financial performance and comparability in the statement of profit or loss between entities. The accounting standard introduces three new defined categories for income and expenses-operating, investing and financing, and requires all companies to provide certain new defined subtotals. IFRS 18 also requires companies to disclose explanations of company-specific measures that are related to the income statement, referred to as management-defined performance measures. Furthermore, the accounting standard sets out enhanced guidance on how to organize information and whether to provide it in primary financial statements or in the notes and requires companies to provide more transparency about operating expenses. IFRS 18 will not impact the recognition or measurement of items in the financial statements. The accounting standard is effective for annual reporting periods beginning on or after January 1, 2027, with early adoption permitted. Takeda is currently in the process of assessing the impact from meeting the new disclosure requirements and will adopt the standard from the fiscal year beginning April 1, 2027. Use of Judgments, Estimates, and Assumptions The preparation of consolidated financial statements in accordance with IFRS requires management to make certain judgments, estimates, and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. These estimates and underlying assumptions are reviewed on a continuous basis. Changes in these accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about judgments and estimates that have been made in the process of applying accounting policies and that have significant effects on the amounts reported in the consolidated financial statements, and information about accounting estimates and assumptions that have significant effects on the amounts reported in the consolidated financial statements, are as follows: • Recognition and measurement of taxes based on uncertain tax positions (Note 7) • Recoverability of deferred tax assets (Note 7) • Impairment of goodwill and intangible assets (Note 11 and Note 12) • Measurement of provisions (Note 23) • Estimation of rebates and return reserves associated with Takeda’s product sales (Note 3 and Note 23) • Probability of an outflow of resources embodying economic benefits on contingent liabilities (Note 32) |
Material Accounting Policies
Material Accounting Policies | 12 Months Ended |
Mar. 31, 2024 | |
Significant Accounting Policies [Abstract] | |
Material Accounting Policies | Material Accounting Policies Basis of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries that are directly or indirectly controlled by the Company. All significant intercompany balances and transactions have been eliminated in consolidation. Takeda controls an entity when it is exposed or has rights to variable returns from involvement with the entity and has the ability to affect those returns using its power, which is the current ability to direct the relevant activities, over the entity. To determine whether Takeda controls an entity, status of voting rights or similar rights, contractual agreements and other specific factors are considered. The financial statements of the subsidiaries are included in the consolidated financial statements from the date when control is obtained until the date when control is lost. The financial statements of subsidiaries have been adjusted in order to ensure consistency with the accounting policies adopted by the Company as necessary. Changes in ownership interest in subsidiaries that do not result in loss of control are accounted for as equity transactions. Any difference between the adjustment to non-controlling interests and the fair value of consideration transferred or received, is recognized directly in equity attributable to owners of the Company. When control over a subsidiary is lost, the investment retained after the loss of control is re-measured at fair value as of the date when control is lost, and any gain or loss on such re-measurement and disposal of the interest sold is recognized in profit or loss. Investments in Associates and Joint Arrangements Associates are entities over which Takeda has significant influence over the decisions on financial and operating policies but does not have control or joint control. Investments in associates are accounted for using the equity method and recognized at cost on the acquisition date. The carrying amount is subsequently increased or decreased to recognize Takeda’s share of profit or loss and other comprehensive income of the associates. Intra-group profits on transactions with associates accounted for using the equity method are eliminated against the investment to the extent of Takeda’s equity interest in the associates. Intra-group losses are eliminated in the same way as intra-group profits unless there is evidence of impairment. Joint arrangement is an arrangement of which two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Takeda classifies joint arrangement into either joint operations or joint ventures. The classification of a joint arrangement as a joint operation or a joint venture depends upon the rights and obligations of the parties to the arrangement. Joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. Joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The assets, liabilities, revenues and expenses in joint operations are recognized in relation to Takeda’s interest. The investment in joint ventures is accounted for using the equity method. At each reporting date, the Company determines whether there is objective evidence that the investment in the associate or joint venture is impaired. If there is such evidence, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate or joint venture and its carrying value, and then recognizes the loss in profit or loss. Business Combinations Business combinations are accounted for using the acquisition method. The identifiable assets acquired and the liabilities assumed are measured at the fair values at the acquisition date. Goodwill is measured as the excess of the sum of the fair value of consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held equity interest in the acquiree less the fair value of identifiable assets acquired, net of liabilities assumed at the acquisition date. As part of business combinations, when the acquired entity consists of foreign operations with multiple functional currencies, Takeda allocates goodwill recognized upon the acquisition to the foreign operations based on the estimated cash flows of the acquired foreign operations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred to former owners of the acquiree, and the equity interests issued by Takeda at the acquisition date. Non-controlling interests is initially measured either at fair value or at the non-controlling interests’ proportionate share of the recognized amounts of the acquiree’s identifiable net assets on a transaction-by-transaction basis. The consideration for certain acquisitions includes amounts contingent upon future events, such as the achievement of development milestones and sales targets. Any contingent consideration included in the consideration payable for a business combination is recorded at fair value at the date of acquisition. These fair values are generally based on risk-adjusted future cash flows discounted using appropriate discount rates. The fair values are reviewed at the end of each reporting period. The changes in the fair value based on the time value of money are recognized in finance expenses and the other changes are recognized in other operating income or other operating expenses in the consolidated statements of profit or loss. Acquisition related costs are recognized as expenses in the period they are incurred. Changes in Takeda’s ownership interests in subsidiaries arising from transactions between Takeda and non-controlling interests that do not result in Takeda losing control over a subsidiary are treated as equity transactions and therefore, do not result in adjustments to goodwill. Foreign Currency Translations Foreign Currency Transactions Foreign currency transactions are remeasured into the functional currency of each entity within Takeda using the exchange rates at the dates of the transactions or rates that approximate the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured into the functional currency using the spot rates of exchange at the end of each reporting period. Non-monetary assets and liabilities that are measured at fair value in foreign currencies are remeasured using historical exchange rates at the date when the fair value was determined. Non-monetary assets and liabilities measured based on historical cost that are denominated in foreign currencies are remeasured at the exchange rate at the date of the initial transaction. Exchange differences arising from the remeasurement or settlement are recognized in profit or loss except when related to financial assets measured at fair value through other comprehensive income, as well as financial instruments designated as hedges of net investments in foreign operations and cash flow hedges subsequently recognized as other comprehensive income. The gain or loss arising from remeasurement of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item. Translation differences on items whose fair value gain or loss is recognized in other comprehensive income or profit or loss, are also recognized in other comprehensive income or profit or loss, respectively. Foreign Operations The assets and liabilities of foreign operations are translated using the spot exchange rates at the end of the reporting period, while income and expenses of foreign operations presented in profit or loss and other comprehensive income are translated using the exchange rates at the dates of the transactions or rates that approximate the exchange rates at the dates of the transactions. When a foreign operation’s functional currency is the currency of a hyperinflationary economy, adjustments are made to its separate financial statements to reflect current price levels, and income and expenses of the foreign operation are translated into the presentation currency at the exchange rate at the end of the reporting period. The impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period is recorded in other comprehensive income. The subsequent gains and losses resulting from the restatement of non-monetary assets and liabilities are recorded in finance income or finance expenses in the consolidated statements of profit or loss. Exchange differences arising from translation are recognized as other comprehensive income. In cases in which foreign operations are disposed of, the cumulative amount of exchange differences related to the foreign operations is recognized as part of the gain or loss on disposal. Revenue Takeda’s revenue is primarily related to the sale of pharmaceutical products and is generally recognized when control of the products is passed to the customer in an amount that reflects the consideration to which Takeda expects to be entitled in exchange for those products. Control is generally transferred at the point in time of shipment to or receipt of the products by the customer, or when the services are performed. The amount of revenue to be recognized is based on the consideration Takeda expects to receive in exchange for its goods or services. If a contract contains more than one contractual promise to a customer (performance obligation), the consideration is allocated based on the standalone selling price of each performance obligation. The consideration Takeda receives in exchange for its goods or services may be fixed or variable. Variable consideration is only recognized to the extent it is highly probable that a significant reversal will not occur. Takeda’s gross sales are subject to various deductions, which are primarily composed of rebates and discounts to retail customers, government agencies, wholesalers, health insurance companies and managed healthcare organizations. These deductions represent estimates of the related obligations, requiring the use of judgment when estimating the effect of these sales deductions on gross sales for a reporting period. These adjustments are deducted from gross sales to arrive at net sales. Takeda monitors the obligation for these deductions on at least a quarterly basis and records adjustments when rebate trends, rebate programs and contract terms, legislative changes, or other significant events indicate that a change in the obligation is appropriate. Historically, adjustments to rebate accruals have not been material to net earnings. The United States (the “U.S.”) market has the most complex arrangements related to revenue deductions. The following summarizes the nature of the most significant adjustments to revenue: • U.S. Medicaid: The U.S. Medicaid Drug Rebate Program is administered by state governments using state and federal funds to provide assistance to certain qualifying individuals and families, who cannot finance their own medical expenses. Calculating the rebates to be paid related to this program involves interpreting relevant regulations, which are subject to challenge or change in interpretative guidance by government authorities. Provisions for Medicaid rebates are estimated based upon identifying the products subject to a rebate, historical experience, patient demand, product pricing and the mix of contracts and specific terms in the individual state agreements. The provisions for Medicaid rebates are recorded in the same period that the corresponding revenues are recognized; however, the Medicaid rebates are not fully paid until subsequent periods. There is often a time lag of several months between Takeda recording the revenue deductions and Takeda’s final accounting for Medicaid rebates. These expected product specific assumptions relate to estimating which of Takeda’s revenue transactions will ultimately be subject to the U.S. Medicaid program. • U.S. Medicare: The U.S. Federal Medicare Program, which funds healthcare benefits to individuals age 65 or older and certain disabilities, provides prescription drug benefits under Part D section of the program. This benefit is provided and administrated through private prescription drug plans. Provisions for Medicare Part D rebates are calculated based on the terms of individual plan agreements, patient demand, product pricing and the mix of contracts. The provisions for Medicare Part D rebates are recorded in the same period that the corresponding revenues are recognized; however, the Medicare Part D rebates are not fully paid until subsequent periods. There is often a time lag of several months between Takeda recording the revenue deductions and Takeda’s final accounting for Medicare Part D rebates. These expected product specific assumptions relate to estimating which of the Takeda’s revenue transactions will ultimately be subject to the U.S. Medicare program. • Customer rebates: Customer rebates including commercial managed care in the U.S. are offered to purchasing organizations, health insurance companies, managed healthcare organizations, and other direct and indirect customers to sustain and increase market share, and to ensure patient access to Takeda’s products. Since rebates are contractually agreed upon, the related provisions are estimated based on the terms of the individual agreements, historical experience, and patient demand. The provisions for commercial managed care rebates in the U.S. are recorded in the same period that the corresponding revenues are recognized; however, commercial managed care rebates in the U.S. are not fully paid until subsequent periods. There is often a time lag of several months between Takeda recording the revenue deductions and Takeda’s final accounting for commercial managed care rebates in the U.S. These expected product specific assumptions relate to estimating which of Takeda’s revenue transactions will ultimately be subject to the commercial managed care in the U.S. • Wholesaler chargebacks: Takeda has arrangements with certain indirect customers whereby the customer is able to buy products from wholesalers at reduced prices. A chargeback represents the difference between the invoice price to the wholesaler and the indirect customer’s contractual discounted price. Provisions for estimating chargebacks are calculated based on the terms of each agreement, historical experience and product demand. Takeda has a legally enforceable right to set off the trade receivables and chargebacks and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. Thus the provision for chargebacks are recorded as a deduction from trade receivables on the consolidated statements of financial position. • Return reserves: When Takeda sells a product providing a customer with the right to return, Takeda records a provision for estimated sales returns based on its sales return policy and historical return rates. Takeda estimates the proportion of recorded revenue that will result in a return by considering relevant factors, including past product returns activity, the estimated level of inventory in the distribution channel and the shelf life of products. Because the amounts are estimated, they may not fully reflect the final outcome, and the amounts are subject to change dependent upon, amongst other things, expected product specific assumptions used in estimating which of Takeda’s revenue transactions will ultimately be subject to the respective programs. Takeda generally receives payments from customers within 90 days after the point in time when goods are delivered to the customers. Takeda usually performs those transactions as a principal, but Takeda also sells products on behalf of others in which case revenue is recognized at an amount of sales commission that Takeda expects to be entitled as an agent. Takeda also generates revenue in the form of royalty payments, upfront payments, and milestone payments from the out-licensing and sale of intellectual property (“IP”). Royalty revenue earned through a license is recognized when the underlying sales have occurred. Revenue from upfront payment is generally recognized when Takeda provides a right to use IP. Revenue from milestone payments is recognized at the point in time when it is highly probable that the respective milestone event criteria is met, and a significant reversal in the amount of revenue recognized will not occur. Revenue from other services such as R&D of therapeutic candidates that are out-licensed is recognized over the service period. Takeda generally receives payments from customers within 60 days after entering into out-licensing contracts or confirmation by customers that conditions for the milestone payments are met. Takeda licenses its own intellectual property rights to customers and performs those transactions as a principal. Takeda also provides other services as a principal or an agent. Takeda identifies a contract modification in case of a change in the scope or price (or both) of a contract. If a contract modification is not accounted for as a separate contract, both of the revenue recognized before and after contract modification is presented in the same categories of the disaggregation of revenue information. Government Grants Government grants are recognized when there is reasonable assurance that Takeda will comply with the conditions attached to them and receive the grants. Government grants for the purchasing of property, plant and equipment are recognized as deferred income and then recognized in profit or loss and offset the related expenses on a systematic basis over the useful lives of the related assets. Government grants for expenses incurred are recognized in profit or loss and offset the related expenses over the periods in which Takeda recognizes costs for which the grants are intended to compensate. Research and Development Expenses Research costs are expensed in the period incurred. Internal development expenditures are capitalized when the criteria for recognizing an asset are met in accordance with IAS 38 Intangible Assets , usually when a regulatory filing has been made in a major market and approval is considered highly probable. Where regulatory and other uncertainties are such that the criteria are not met, the expenditures are recognized in profit or loss in the consolidated statements of profit or loss. Property, plant and equipment used for R&D is capitalized and depreciated over the estimated life of the asset. Income Taxes Income taxes consist of current taxes and deferred taxes. Current and deferred taxes are recognized in profit or loss, except for income taxes resulting from business combinations, and income taxes recognized in either other comprehensive income or equity related to items that are recognized, in the same or different period, outside of profit or loss. Current Taxes The current taxes payable or receivable is based on taxable profit for the year. Taxable profit differs from reported profit because taxable profit excludes items that are either never taxable or tax deductible or items that are taxable or tax deductible in a different period. Income taxes payable and income taxes receivable, including those from prior fiscal years, are measured at the amount that is expected to be paid to or received from the taxation authorities using tax rates and tax law that have been enacted or substantively enacted by the reporting date, reflecting uncertainty related to income taxes, if any. Takeda’s current taxes also include liabilities related to uncertain tax positions. Inherent uncertainties exist in estimates of many uncertain tax positions due to changes in tax law resulting from legislation, regulation, and/or as concluded through the various jurisdictions’ tax court systems. When Takeda concludes that it is not probable that a tax authority will accept an uncertain tax position, Takeda recognizes the best estimate of the expenditure required to settle a tax uncertainty. This is measured either based on the most likely amount or the expected value amount, depending on which method provides a better prediction of the resolution of the uncertainty. The amount of unrecognized tax benefits is adjusted for changes in facts and circumstances. Takeda’s current tax assets and liabilities are calculated using tax rates that have been enacted or substantively enacted by the reporting date. Deferred Taxes Deferred taxes are calculated based on the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes at the end of the reporting period. Deferred tax assets are recognized for deductible temporary differences, unused tax credits and unused tax losses to the extent that it is probable that future taxable profit will be available against which the assets can be utilized. This requires Takeda to evaluate and assess the probability of future taxable profit and Takeda’s business plan, which are inherently uncertain. The change in judgment upon determining the revenue forecast used for Takeda's business plan could have a significant impact on the amount of the deferred tax assets to be recognized. Uncertainty of estimates of future taxable profit could increase due to changes in economies in which Takeda operates, changes in market conditions, effects of currency fluctuations, or other factors. Takeda’s deferred taxes also include liabilities related to uncertain tax positions. Deferred tax liabilities are generally recognized for taxable temporary differences. Deferred tax assets and liabilities are not recognized for the following temporary differences: • Taxable temporary differences arising on the initial recognition of goodwill • The initial recognition of assets and liabilities in transactions that are not business combinations and affect neither accounting profit nor taxable profit (loss) at the time of the transaction • Deductible temporary differences arising from investments in subsidiaries and associates, when it is not probable that the temporary differences will reverse in the foreseeable future and that taxable profit will be available against which the temporary differences can be utilized • Taxable temporary differences arising from investments in subsidiaries and associates when the timing of the reversal of the temporary differences is controllable and it is not probable that they will reverse in the foreseeable future Further, Takeda has not recognized nor disclosed deferred tax assets and liabilities of income taxes relating to the Pillar Two model’s rules published by the Organization for Economic Cooperation and Development (“OECD”) , as required by IAS 12 as amended on May 23, 2023. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the periods in which the temporary differences are expected to reverse based on the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and the deferred tax assets and liabilities for those related to income taxes levied by the same taxation authority on the same taxable entity. Earnings per Share Basic earnings per share is calculated by dividing profit or loss for the year attributable to owners of ordinary shares of the Company, by the weighted-average number of ordinary shares outstanding during the reporting period, adjusted by the number of treasury shares. Diluted earnings per share is calculated by adjusting all the effects of dilutive potential ordinary shares. Property, Plant and Equipment Property, plant and equipment are measured using the cost model and is stated at cost less accumulated depreciation and accumulated impairment loss. Acquisition cost includes mainly the costs directly attributable to the acquisition and the initial estimated dismantlement, removal, and restoration costs associated with the asset. Except for assets that are not subject to depreciation, such as land and construction in progress, assets are depreciated mainly using the straight-line method over the estimated useful life of the asset. Right of use (“ROU”) assets are depreciated using the straight-line method over the shorter of the lease term or the estimated useful life unless it is reasonably certain that Takeda will obtain ownership by the end of the lease term. The depreciation of these assets begins when they are available for use. The estimated useful life of major asset items is as follows: • Buildings and structures 3 to 50 years • Machinery and vehicles 2 to 20 years • Tools, furniture and fixtures 2 to 20 years Goodwill Goodwill arising from business combinations is stated at its cost less accumulated impairment losses. Goodwill is not amortized. Goodwill is allocated to cash-generating units (CGUs) or groups of cash-generating units that represent the lowest level within the entity for which information about goodwill is available and monitored for internal management purposes and are not larger than an operating segment. Goodwill is only allocated to CGUs or groups of CGUs that are expected to benefit from synergies related to the business combination from which goodwill arose and the method of allocation depends on the facts and circumstances of the business combination. Goodwill is tested for impairment annually and whenever there is any indication of impairment. Impairment losses on goodwill are recognized in the consolidated statements of profit or loss and no subsequent reversal will be made. Intangible Assets Associated with Products Amortization and impairment losses on intangible assets associated with products is separately stated in the consolidated statements of profit or loss because intangible assets associated with products have various comprehensive rights and contribute to our ability to sell, manufacture, research, market and distribute products, compounds and benefit multiple business functions. Marketed Products An intangible asset associated with a marketed product is amortized on a straight-line basis over the estimated useful life, which is based on expected patent life, and/or other factors depending on the expected economic benefits of the asset, ranging from 3 to 20 years, from marketing approval. These intangible assets are assessed for impairment if indicators of a potential impairment exist. An impairment is recorded if the carrying value exceeds the recoverable amount of the intangible assets. Intangible assets relating to marketed products of which Takeda recalls or ceases sales for any reason are written down to their recoverable amount. Amortization, impairment and reversal of impairment related to intangible assets associated with marketed products are included in amortization and impairment losses on intangible assets associated with products in the consolidated statements of profit or loss. In-Process R&D Takeda enters into collaboration and in-license agreements with third parties for products and compounds for R&D projects. Payments for collaboration agreements generally take the form of subsequent development milestone payments. Payments for in-license agreements generally take the form of up-front payments and subsequent development milestone payments. Up-front payments for in-license agreements are capitalized upon commencement of the in-license agreements, and development milestone payments are capitalized when the milestone is achieved. These intangible assets relating to products in development that are not yet available for use are not amortized. These intangible assets are assessed for impairment on an annual basis, and more frequently if indicators of a potential impairment exist. An impairment is recorded if the carrying value exceeds the recoverable amount of the intangible assets. Intangible assets relating to in-process R&D which fail during development or for which development ceases for any reason are written down to their recoverable amount which is typically nil. Impairment and reversal of impairment related to intangible assets associated with in-process R&D are included in amortization and impairment losses on intangible assets associated with products in the consolidated statements of profit or loss. If and when Takeda obtains approval for the commercial application of a product in development, the related in-process R&D assets will be reclassified to intangible assets associated with marketed products. Intangible Assets – Software Software is recognized at cost and amortized on a straight-line basis over the expected useful life. The useful life used for this purpose is 3 to 10 years. Amortization of intangible assets – software is included in cost of sales, selling, general and administrative expenses, and research and development expenses in the consolidated statements of profit or loss. Leases As Lessee Takeda assesses whether a contract is or contains a lease at inception of a contract. As a lessee, Takeda recognizes a ROU asset and a corresponding lease liability for all contracts in which it is a lessee in the consolidated statements of financial position at the lease commencement date. The ROU asset is initially measured at cost, being the initial amount of the lease liability adjusted for any lease payments made at or before the lease commencement date and subsequently at cost less any accumulated depreciation and impairment losses. The ROU asset is subsequently depreciated using the straight-line method over the shorter of the lease term or the estimated useful life of the underlying asset. The ROU asset is subject to impairment assessment. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if not readily determinable, the Takeda’s incremental borrowing rate. Generally, Takeda uses its incremental borrowing rate as the discount rate. The lease term comprises a non-cancellable period of lease contracts and periods covered by an option to extend or terminate the lease if Takeda is reasonably certain to exercise that option. After initial recognition, the lease liability is measured at amortized cost using the effective interest method. If there is a change in future lease payments, such as from reassessment of whether an extension or termination option will be exercised, the lease liability is remeasured. A corresponding adjustment is made to the ROU asset or is recorded in the consolidated statements of profit or loss when the right-of-use asset has been fully depreciated. Takeda has elected to apply recognition exemption for leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments for such leases are recognized as an expense on a straight-line basis over the lease term. As a practical expedient, Takeda has elected not to separate non-lease components from lease components, and instead accounts for each lease component and any associated non-lease components as a single lease component. Impairment of Non-Financial Assets Takeda assesses whether there is any indication of impairment for non-financial assets at the end of each reporting period, excluding inventories, deferred tax assets, assets held for sale, and net defined benefit assets. If any such indication exists, and in cases in which an impairment test is required to be performed each year, the recoverable amount of the asset is estimated. In cases the recoverable amount cannot be estimated for each asset, they are estimated at the cash-generating unit level. The recoverable amount of an asset or a cash-generating unit is determined at the higher of its fair value less costs of disposal or its value in use. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining |
Operating Segment and Revenue I
Operating Segment and Revenue Information | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of operating segments [abstract] | |
Operating Segment and Revenue Information | Operating Segment and Revenue Information Takeda comprises a single operating segment and is engaged in the research, development, manufacturing, marketing and out-licensing of pharmaceutical products. This is consistent with how the financial information is viewed in allocating resources, measuring performance, and forecasting future periods by the CEO who is Takeda’s Chief Operating Decision Maker. Disaggregation of Revenue Information Takeda’s revenue from contracts with customers is comprised of the following: Revenue by Type of Good or Service JPY (millions) For the Year Ended March 31 2022 2023 2024 Sales of pharmaceutical products ¥ 3,295,723 ¥ 3,922,280 ¥ 4,163,652 Out-licensing and service income 273,283 105,198 100,110 Total ¥ 3,569,006 ¥ 4,027,478 ¥ 4,263,762 Revenue by Business Area and Product JPY (millions) 2022 2023 2024 Gastroenterology: ENTYVIO ¥ 521,778 ¥ 702,744 ¥ 800,919 GATTEX/REVESTIVE 75,751 93,076 119,252 TAKECAB/VOCINTI (1) 102,397 108,719 118,526 PANTOLOC/CONTROLOC (2) 40,275 45,518 46,495 DEXILANT 50,763 69,371 45,278 ALOFISEL 1,843 2,725 3,513 Others 82,877 72,388 82,226 Total Gastroenterology 875,685 1,094,541 1,216,207 Rare Diseases: Rare Hematology: ADVATE 118,491 118,188 122,911 ADYNOVATE/ADYNOVI 60,726 66,553 66,308 FEIBA 39,162 41,268 40,543 VONVENDI 8,774 12,217 16,188 RECOMBINATE 12,297 12,762 12,050 Others 44,239 53,730 47,298 Total Rare Hematology 283,689 304,718 305,297 Rare Genetics and Other: TAKHZYRO 103,242 151,800 178,677 ELAPRASE 73,119 85,321 91,561 REPLAGAL 51,714 66,741 73,553 VPRIV 42,408 48,372 51,295 LIVTENCITY 1,325 10,501 19,085 Others 55,698 55,989 51,232 Total Rare Genetics and Other 327,507 418,724 465,403 Total Rare Diseases (4) 611,196 723,442 770,701 JPY (millions) 2022 2023 2024 PDT Immunology: immunoglobulin 385,864 522,211 644,587 albumin 90,035 121,446 133,990 Others 31,052 34,786 39,993 Total PDT Immunology (4) 506,951 678,443 818,570 Oncology: ADCETRIS 69,190 83,937 109,425 LEUPLIN/ENANTONE 106,459 111,311 107,350 NINLARO 91,203 92,691 87,361 ICLUSIG 34,860 47,206 54,706 ALUNBRIG 13,644 20,556 28,524 FRUZAQLA — — 10,080 VELCADE 110,046 27,759 5,539 EXKIVITY 962 3,732 3,459 Others 42,367 51,551 55,917 Total Oncology 468,730 438,742 462,362 Neuroscience: VYVANSE/ELVANSE 327,052 459,289 423,221 TRINTELLIX 82,315 100,081 104,797 ADDERALL XR 20,885 28,594 41,756 INTUNIV 18,938 16,354 33,555 Others 33,104 33,393 23,686 Total Neuroscience 482,294 637,711 627,014 Other: AZILVA-F (1) 76,297 72,897 33,636 FOSRENOL 13,612 13,532 13,529 Others (3) 534,242 368,168 321,743 Total Other (4) 624,150 454,598 368,908 Total ¥ 3,569,006 ¥ 4,027,478 ¥ 4,263,762 (1) The figures include the amounts of fixed dose combinations and blister packs. (2) Generic name: pantoprazole (3) The figure for the year ended March 31, 2022 includes the JPY 133,043 million selling price on sales of four diabetes products (NESINA, LIOVEL, INISYNC and ZAFATEK) in Japan to Teijin Pharma Limited recorded as revenue. As Takeda transferred only the assets, marketing rights and, eventually, marketing authorization associated with the pharmaceutical products which do not entail transfer of employees or associated contracts, Takeda applied IFRS 15 to the transaction and recorded the selling price in revenue. (4) Starting from the fiscal year ending March 31, 2025 (FY2024), “Plasma-Derived Therapies” will replace the previous category of “PDT Immunology” and will include all plasma-derived products including those previously categorized within “Rare Diseases” (e.g., FEIBA , CINRYZE ). “Vaccines” will be presented as a separate key business area (previously included in “Others”), reflecting the strategic focus on our dengue vaccine, QDENGA . If the new categories are applied, revenue from “Rare Disease” is JPY 688,423 million for the year ended March 31, 2024, JPY 639,774 million for the year ended March 31, 2023, JPY 531,098 million for the year ended March 31, 2022, revenue from “Plasma-Derived Therapies” is JPY 903,699 million for the year ended March 31, 2024, JPY 765,359 million for the year ended March 31, 2023 and JPY 589,571 million for the year ended March 31, 2022, revenue from “Vaccines” is JPY 50,355 million for the year ended March 31, 2024, JPY 78,664 million for the year ended March 31, 2023 and JPY 55,225 for the year ended March 31, 2022, revenue from “Others” is JPY 315,701 million for the year ended March 31, 2024, JPY 372,685 million for the year ended March 31, 2023 and JPY 566,403 million for the year ended March 31, 2022. Geographic Information Takeda’s revenue from contracts with customers is based in the following geographic locations: JPY (millions) For the Year Ended March 31 2022 2023 2024 Japan ¥ 658,983 ¥ 512,043 ¥ 451,391 U.S. 1,714,421 2,103,772 2,195,711 Europe and Canada 739,168 842,668 966,835 Asia (excluding Japan) 196,964 225,007 261,218 Latin America 128,467 160,375 198,100 Russia/CIS 62,057 88,431 72,594 Other 68,945 95,182 117,911 Total ¥ 3,569,006 ¥ 4,027,478 ¥ 4,263,762 “Other” includes the Middle East, Oceania and Africa. This disaggregation provides revenue attributable to countries or regions based on the customer location. Takeda’s non-current assets are held in the following geographic locations: JPY (millions) 2023 2024 Japan ¥ 373,133 ¥ 366,276 U.S. 7,560,491 8,223,949 Ireland 792,382 885,496 Switzerland 799,325 860,795 Other 1,258,787 1,361,811 Total ¥ 10,784,117 ¥ 11,698,327 Non-current assets exclude financial instruments, deferred tax assets and net defined benefit assets. Information Related to Major Customers During the year ended March 31, 2022, AmerisourceBergen Corporation and its subsidiaries (collectively, “AmerisourceBergen Group”) and McKesson Corporation and its subsidiaries (collectively, “McKesson Group”) represented more than 10% of Takeda’s sales. The sales to AmerisourceBergen Group and McKesson Group were JPY 504,487 million and JPY 406,709 million for the year ended March 31, 2022. During the year ended March 31, 2023, AmerisourceBergen Group, McKesson Group and Cardinal Health, Inc. and its subsidiaries (collectively, “Cardinal Health Group”) represented more than 10% of Takeda’s sales. The sales to AmerisourceBergen Group, McKesson Group and Cardinal Health Group were JPY 575,294 million, JPY 540,356 million and JPY 424,527 million, respectively, for the year ended March 31, 2023. During the year ended March 31, 2024, AmerisourceBergen Group, McKesson Group and Cardinal Health Group represented more than 10% of Takeda’s sales. The sales to AmerisourceBergen Group, McKesson Group and Cardinal Health Group were JPY 579,065 million, JPY 578,767 million and JPY 436,951 million, respectively, for the year ended March 31, 2024. Other Revenue Information Contract Balances JPY (millions) 2023 2024 Receivables from contracts with customers Trade receivables (Note 17) ¥ 575,431 ¥ 612,439 Contract assets Unbilled receivables 2,628 2,574 Contract liabilities Deferred income (Note 24) 8,609 8,259 Advance payments 19 45 Takeda’s contract assets relate to the right to receive consideration where performance was completed based on the contract, and trade receivables are recognized when the right to receive consideration becomes unconditional. Takeda’s contract liabilities primarily relate to out-licensing arrangements or product purchase and supply agreements where Takeda receives cash consideration prior to the completion of its performance obligations under the agreements. The revenue recognized during the years ended March 31, 2022, 2023, and 2024 that was included in the contract liability balance as of the beginning of the year was JPY 30,022 million, JPY 49,319 million, and JPY 5,526 million, respectively. The revenue recognized during the years ended March 31, 2022, 2023, and 2024 from performance obligations satisfied (or partially satisfied) in previous periods was JPY 49,220 million, JPY 79,251 million, and JPY 80,794 million, respectively, and primarily relates to royalty income. Transaction price allocated to the remaining performance obligations JPY (millions) Total Duration of the remaining performance obligations Within one year Between one and five years More than five years Contract liabilities as of March 31, 2023 ¥ 8,628 ¥ 6,394 ¥ 458 ¥ 1,775 Contract liabilities as of March 31, 2024 8,304 6,119 517 1,668 |
Other Operating Income and Expe
Other Operating Income and Expenses | 12 Months Ended |
Mar. 31, 2024 | |
Analysis of income and expense [abstract] | |
Other Operating Income and Expenses | Other Operating Income and Expenses JPY (millions) 2022 2023 2024 Other operating income: Change in fair value of financial assets and liabilities associated with contingent consideration arrangements (Note 27) ¥ 11,195 ¥ — ¥ — Gain on sales of property, plant and equipment and investment property 1,148 2,094 144 Gain on divestment of business to Teva Takeda Yakuhin 1,414 6,807 588 Gain on divestment of business and subsidiaries 5,602 — 7,243 Change in estimate of liabilities related to SHP647 — 4,102 — Other 23,762 12,421 11,404 Total ¥ 43,123 ¥ 25,424 ¥ 19,379 Other operating expenses: Donations and contributions ¥ 8,255 ¥ 7,685 ¥ 7,009 Restructuring expenses (Note 23) 83,836 59,234 81,358 Change in fair value of financial assets and liabilities associated with contingent consideration arrangements (Note 27) — 3,991 20,757 Valuation reserve for pre-launch inventories 20,723 9,466 11,052 Impairment of assets held for sale (Note 19) — 4,693 1,685 Other 46,261 60,178 84,666 Total ¥ 159,075 ¥ 145,247 ¥ 206,527 For the year ended March 31, 2022, other in other operating income includes a compensation for damages and settlement proceeds Takeda received of JPY 8,487 million. For the year ended March 31, 2023, other in other operating expenses includes a JPY 16,470 million write-off of option fees Takeda paid as part of collaboration agreements. |
Finance Income and Expenses
Finance Income and Expenses | 12 Months Ended |
Mar. 31, 2024 | |
Borrowing costs [abstract] | |
Finance Income and Expenses | Finance Income and Expenses JPY (millions) 2022 2023 2024 Finance Income: Interest income Interest income from financial assets measured at amortized cost ¥ 3,880 ¥ 4,187 ¥ 8,850 Interest income from financial assets measured at fair value through P&L 700 1,318 2,442 Interest income on sublease 11 3 1 Total interest income 4,591 5,508 11,293 Dividend income Dividend income from financial assets measured at fair value through OCI and disposed of during the period 8 6 — Dividend income from financial assets measured at fair value through OCI and held at end of the period 164 267 335 Total dividend income 172 273 335 Gain on derivative financial assets – Foreign currency exchange — 4,476 31,053 Gain on derivative financial assets – Warrants — 15,896 — Gain on derivative financial assets – Virtual power purchase agreement — 6,843 3,393 Gain on derivative financial assets – Cross currency interest rate swap — — 4,144 Remeasurement to fair value of pre-existing interest in an acquiree 8,482 22,416 — Other 10,455 7,501 1,875 Total ¥ 23,700 ¥ 62,913 ¥ 52,093 Finance Expenses: Interest expense Interest expense on financial debt ¥ 108,498 ¥ 100,393 ¥ 98,710 Interest expense on lease liabilities 13,934 16,580 20,826 Total interest expense 122,432 116,973 119,535 Loss on derivative financial assets – Foreign currency exchange 2,112 — — Loss on derivative financial assets – Warrants 20,483 — — Loss on derivative financial assets – Virtual power purchase agreement — 6,843 3,393 Loss on foreign currency exchange, net 1,791 14,205 44,665 Hyperinflation effect expense 3,698 12,256 18,160 Other 16,091 19,421 34,096 Total ¥ 166,607 ¥ 169,698 ¥ 219,850 |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2024 | |
Income taxes paid (refund) [abstract] | |
Income Taxes | Income Taxes Income Tax Expense (Benefit) The composition of income tax expense (benefit) is as follows: JPY (millions) 2022 2023 2024 Current tax expense ¥ 208,513 ¥ 246,578 ¥ 107,349 Deferred tax benefit (136,108) (188,526) (198,755) Total ¥ 72,405 ¥ 58,052 ¥ (91,406) Current tax expense includes the benefits arising from previously unrecognized tax losses, tax credits and temporary differences of prior periods. These effects decreased current tax expense by JPY 11,315 million, JPY 17,529 million and JPY 4,952 million for the years ended March 31, 2022, 2023 and 2024, respectively. Deferred tax benefit includes the benefits arising from previously unrecognized tax losses, tax credits and temporary differences of prior periods. These effects decreased deferred tax expense by JPY 11,914 million, JPY 54,974 million and JPY 32,290 million for the years ended March 31, 2022, 2023 and 2024, respectively. Takeda is mainly subject to income taxes, inhabitant tax, and deductible enterprise tax in Japan. The statutory tax rate calculated based on these taxes is 30.6% for the years ended March 31, 2022, 2023 and 2024. The following is a reconciliation from income tax expense at Takeda's domestic (Japanese) statutory tax rate to Takeda's income tax expense (benefit) reported for the year ended March 31: JPY (millions) 2022 2023 2024 Profit before tax ¥ 302,571 ¥ 375,090 ¥ 52,791 Income tax expense at Takeda’s domestic (Japanese) statutory tax rate of 30.6% 92,526 114,703 16,143 Non-deductible expenses for tax purposes (1) 6,071 15,158 21,353 Changes in unrecognized deferred tax assets and deferred tax liabilities (2) (8,831) (21,791) (3,512) Tax credits (32,948) (26,676) (30,654) Differences in applicable tax rates of overseas subsidiaries (3) 24,496 (31,446) (29,782) Changes in tax effects of undistributed profit of overseas subsidiaries (20,359) 6,174 (1,737) Effect of changes in applicable tax rates and tax law (4) (39,661) 2,482 (11,994) Tax contingencies (5) 58,540 13,991 (83,784) Effect of prior year items (4,762) (7,524) (2,479) Entity reorganizations/Divestments 2,041 (6,321) 33,469 Other (4,708) (698) 1,571 Income tax expense (benefit) reported for the year ¥ 72,405 ¥ 58,052 ¥ (91,406) (1) Amounts for the years ended March 31, 2022, 2023 and 2024 include the impact from intra territory eliminations, the pre-tax effect of which has been eliminated in arriving at Takeda’s consolidated income from continuing operations before income taxes. Additionally, amounts for the years ended March 31, 2023 and 2024 include non-deductible interest due to Japanese earnings stripping rules. (2) Amounts for the years ended March 31, 2022, 2023 and 2024 include deferred tax expenses (benefits) associated with carried forward net operating losses. The amount for the year ended March 31, 2023 is driven by recognition of tax benefits from previously unrecognized tax losses as result of internal entity restructuring transactions. (3) Amounts for the years ended March 31, 2022, 2023 and 2024 include unitary and minimum taxes on overseas subsidiaries. (4) Amount for the year ended March 31, 2022 includes JPY 39,106 million deferred tax benefit related to a blended state tax rate change as a result of legal entity restructuring in the US. Amount for the year ended March 31, 2024 includes JPY 4,206 million deferred tax expense related to US state law change and JPY 16,200 million deferred tax benefit relating to extension of the carryforward period relating to Japanese earnings stripping rules. (5) Tax expense amount for the year ended March 31, 2022 includes JPY 65,942 million from the AbbVie break fee case. Tax benefit for the year ended March 31, 2024 is from favorable resolution of tax contingencies including JPY 63,547 million relating to the AbbVie break fee settlement. The decrease in Takeda’s income tax expense between the years ended March 31, 2022 and 2023 was primarily due to increased tax benefits from recognition of deferred tax assets and decreased tax charges for US international tax provisions in the year ended March 31, 2023. Tax expense for the year ended March 31, 2022 includes a charge for the AbbVie break fee case (a tax assessment related to the treatment of an acquisition break fee Shire received from AbbVie in 2014) partially offset by the benefits from the US state blended tax rate change and reductions of deferred tax liabilities on undistributed earnings. The decrease in Takeda’s income tax expense between the years ended March 31, 2023 and 2024 was primarily due to lower pretax earnings as well as a tax expense reduction of JPY 63,547 million resulting from the reversal of the income taxes payable in excess of the settlement with the Irish Revenue Commissioners with respect to the AbbVie break fee case. These decreases were partially offset by the tax charges from legal entity restructuring and the reassessment of recoverability of deferred tax assets. As a company with worldwide operations, Takeda is subject to several factors that may affect future tax charges, principally the levels and mix of profitability in different jurisdictions, transfer pricing regulations, tax rates imposed and tax regime reforms. In December 2021, the OECD issued model rules for a new global minimum tax framework (Pillar Two). Pillar Two legislation was enacted by Japanese Diet on March 28, 2023. Since the newly enacted tax legislation in Japan is only effective from April 1, 2024, there is no current tax impact for the year ended March 31, 2024. Takeda has applied the temporary mandatory relief from deferred tax accounting for the impacts of the top-up tax and accounts for it as a current tax when it is incurred. Takeda has performed an assessment of its potential exposure to Pillar Two income taxes based on the most recent tax filings, country-by-country reporting and financial statements for the constituent entities in the group. Based on this assessment, Takeda expects that the top-up tax related to Pillar 2 will only arise in a limited number of jurisdictions and the amount of additional tax charge will not be material. Deferred Taxes Deferred tax assets and liabilities reported in the consolidated statements of financial position are as follows: JPY (millions) 2023 2024 Deferred tax assets ¥ 366,003 ¥ 393,865 Deferred tax liabilities (270,620) (113,777) Net deferred tax assets ¥ 95,383 ¥ 280,088 The major items and changes in deferred tax assets and liabilities are as follows: JPY (millions) As of April 1, 2022 Recognized in profit or (loss) Recognized in other comprehensive income Other (1) As of March 31, 2023 Research and development expenses ¥ 33,199 ¥ 98,057 ¥ — ¥ 4,974 ¥ 136,230 Inventories 94,530 11,863 — 4,518 110,911 Property, plant and equipment (69,775) 2,834 — (4,818) (71,759) Intangible assets (497,480) 86,244 — (41,358) (452,594) Financial assets measured at FVTOCI (6,759) — 214 1,417 (5,128) Accrued expenses and provisions 155,330 (6,402) — 16,115 165,043 Defined benefit plans 13,456 (2,855) (5,563) 1,368 6,406 Deferred income 11,225 (3,911) — 118 7,432 Unused tax losses 119,453 (24,662) — 6,301 101,092 Tax credits 38,912 9,389 — 3,790 52,091 Investments in subsidiaries and associates (31,210) (5,581) — (47) (36,838) Cash flow hedges 29,031 — 9,449 — 38,480 Other 21,116 23,550 7,485 (8,134) 44,017 Total ¥ (88,972) ¥ 188,526 ¥ 11,585 ¥ (15,756) ¥ 95,383 JPY (millions) As of April 1, 2023 Recognized in profit or (loss) Recognized in other comprehensive income Other (1) As of March 31, 2024 Research and development expenses ¥ 136,230 ¥ 77,180 ¥ — ¥ 3,600 ¥ 217,010 Inventories 110,911 20,482 — 7,009 138,402 Property, plant and equipment (71,759) 9,249 — (5,999) (68,509) Intangible assets (452,594) 99,039 — (36,715) (390,270) Financial assets measured at FVTOCI (5,128) — (2,056) (455) (7,639) Accrued expenses and provisions 165,043 7,469 — 13,081 185,593 Defined benefit plans 6,406 667 2,170 5,485 14,728 Deferred income 7,432 (1,955) — 16 5,493 Unused tax losses 101,092 (15,970) — 3,549 88,671 Tax credits 52,091 (11,230) — 5,298 46,159 Investments in subsidiaries and associates (36,838) 10,183 — (146) (26,801) Cash flow hedges 38,480 2,227 (19,062) — 21,645 Other 44,017 1,414 (3,171) 13,346 55,606 Total ¥ 95,383 ¥ 198,755 ¥ (22,119) ¥ 8,069 ¥ 280,088 (1) Other consists primarily of foreign currency translation differences, reclassification of deferred tax assets and liabilities classified as held for sale and the tax impact of items charged directly to equity. The aggregate amount of deferred tax related to items charged directly to equity for the years ended March 31, 2023 and 2024 was JPY 2,204 million and JPY 506 million, respectively. Takeda considers the probability that a portion or all of the future deductible temporary differences, unused tax losses, or unused tax credits can be utilized against future taxable profits upon recognition of deferred tax assets. In assessing the recoverability of deferred tax assets, Takeda considers the scheduled reversal of taxable temporary differences, projected future taxable profits, and tax planning strategies. Based on the level of historical taxable profits and projected future taxable profits during the periods in which the temporary differences become deductible, Takeda has determined that it is not probable a portion of the tax benefits can be utilized. The unused tax losses, deductible temporary differences, and unused tax credits for which deferred tax assets were not recognized are as follows: JPY (millions) 2023 2024 Unused tax losses ¥ 1,181,757 ¥ 1,186,106 Deductible temporary differences 259,784 263,143 Unused tax credits 11,186 23,724 The unused tax losses and unused tax credits for which deferred tax assets were not recognized will expire as follows: JPY (millions) Unused tax losses 2023 2024 1st year ¥ 76 ¥ 812 2nd year 762 85 3rd year 307 1,989 4th year 896 6,233 5th year 2,081 578,648 After 5th year 1,114,021 590,813 Indefinite 63,614 7,526 Total ¥ 1,181,757 ¥ 1,186,106 JPY (millions) Unused tax credits 2023 2024 Less than 5 years ¥ 2,151 ¥ 3,901 5 years or more 9,034 19,823 Indefinite — — Total ¥ 11,186 ¥ 23,724 The aggregate amounts of temporary differences associated with investments in subsidiaries for which deferred tax assets were not recognized were JPY 515,052 million and JPY 65,232 million as of March 31, 2023 and 2024, respectively. The aggregate amounts of temporary differences associated with investments in subsidiaries for which deferred tax liabilities were not recognized were JPY 416,417 million and JPY 532,960 million as of March 31, 2023 and 2024, respectively. Changes in the amounts of unrecognized deferred tax assets and liabilities associated with investments in subsidiaries are primarily due to changes in temporary differences that had no impact on the consolidated statements of profit or loss. |
Earnings per Share
Earnings per Share | 12 Months Ended |
Mar. 31, 2024 | |
Earnings per share [abstract] | |
Earnings per Share | Earnings per Share The basis for calculating basic and diluted earnings per share (“EPS”) (attributable to owners of the Company) is as follows: For the Year Ended March 31 2022 2023 2024 Net profit for the year attributable to owners of the Company: Net profit for the year attributable to owners of the Company JPY (millions) ¥ 230,059 ¥ 317,017 ¥ 144,067 Net profit used for calculation of earnings per share JPY (millions) 230,059 317,017 144,067 Weighted-average number of ordinary shares outstanding during the year (thousands of shares) [basic] 1,563,501 1,551,809 1,564,450 Dilutive effect (thousands of shares) 13,668 18,064 15,893 Weighted-average number of ordinary shares outstanding during the year (thousands of shares) [diluted] 1,577,169 1,569,872 1,580,343 Earnings per share Basic (JPY) 147.14 204.29 92.09 Diluted (JPY) 145.87 201.94 91.16 Basic EPS is calculated by dividing the net profit for the year attributable to owners of the Company, with the weighted average number of ordinary shares outstanding during the year. This calculation excludes the average number of treasury shares. Diluted EPS is calculated by dividing the net profit for the year attributable to owners of the Company, with the weighted-average number of ordinary shares outstanding during the year plus the weighted-average number of ordinary shares that would be issued upon conversion of all the dilutive ordinary shares into ordinary shares. There were 2,643 thousand shares, 814 thousand shares, and 814 thousand shares that are anti-dilutive stock options, and therefore not included in the calculation of diluted EPS for the years ended March 31, 2022, 2023, and 2024, respectively. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 12 Months Ended |
Mar. 31, 2024 | |
Equity [abstract] | |
Other Comprehensive Income (Loss) | Other Comprehensive Income (Loss) Amounts arising during the year, reclassification adjustments to profit or loss, and tax effects for each component of other comprehensive income (loss) are as follows: JPY (millions) 2022 2023 2024 Items that will not be reclassified to profit or loss: Changes in fair value of financial assets measured at fair value through OCI: Amounts arising during the year ¥ (17,295) ¥ (2,868) ¥ 4,365 Tax effects 2,669 214 (2,056) Changes in fair value of financial assets measured at fair value through OCI ¥ (14,626) ¥ (2,654) ¥ 2,309 Remeasurement of defined benefit pension plans: Amounts arising during the year ¥ 26,890 ¥ 23,315 ¥ (7,172) Tax effects (6,107) (5,563) 2,170 Remeasurement of defined benefit pension plans ¥ 20,783 ¥ 17,752 ¥ (5,002) Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations: Amounts arising during the year ¥ 558,102 ¥ 566,683 ¥ 956,254 Reclassification adjustments to profit or (loss) — — — Before tax effects 558,102 566,683 956,254 Tax effects 25,867 52,090 12,588 Exchange differences on translation of foreign operations ¥ 583,969 ¥ 618,773 ¥ 968,842 Changes in fair value of financial assets measured at fair value through OCI: Amounts arising during the year ¥ — ¥ (9,118) ¥ (16,150) Reclassification adjustments to profit or (loss) — 9,118 16,150 Before tax effects — — — Tax effects — — — Changes in fair value of financial assets measured at fair value through OCI ¥ — ¥ — ¥ — Cash flow hedges: Amounts arising during the year ¥ 82,780 ¥ 56,437 ¥ 171,059 Reclassification adjustments to profit or (loss) (79,321) (87,337) (137,265) Before tax effects 3,459 (30,900) 33,794 Tax effects (1,286) 9,449 (10,338) Cash flow hedges ¥ 2,173 ¥ (21,451) ¥ 23,456 Hedging cost: Amounts arising during the year ¥ 6,611 ¥ (21,426) ¥ 12,392 Reclassification adjustments to profit or (loss) (3,071) (3,052) (2,024) Before tax effects 3,540 (24,478) 10,368 Tax effects (1,083) 7,485 (3,171) Hedging cost ¥ 2,457 ¥ (16,993) ¥ 7,197 Share of other comprehensive income of investments accounted for using the equity method: Amounts arising during the year ¥ (497) ¥ (892) ¥ (1,793) Reclassification adjustments to profit or (loss) — — — Before tax effects (497) (892) (1,793) Tax effects — — — Share of other comprehensive loss of investments accounted for using the equity method ¥ (497) ¥ (892) ¥ (1,793) Total other comprehensive income for the year ¥ 594,261 ¥ 594,535 ¥ 995,009 |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Property, Plant and Equipment | Property, Plant and Equipment JPY (millions) Acquisition cost Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Land Construction in progress Total As of April 1, 2022 ¥ 1,288,578 ¥ 772,024 ¥ 135,895 ¥ 98,654 ¥ 157,856 ¥ 2,453,007 Additions and other increases 46,155 25,628 9,025 349 104,059 185,217 Transfers 21,026 37,743 5,962 — (64,731) — Disposals and other decreases (22,876) (16,084) (11,096) (201) (574) (50,830) Reclassification to assets held for sale (Note 19) (14,915) (10,968) (4,013) (5,471) (965) (36,331) Foreign currency translation differences 82,139 43,039 6,093 4,895 11,755 147,922 As of March 31, 2023 ¥ 1,400,108 ¥ 851,382 ¥ 141,867 ¥ 98,227 ¥ 207,400 ¥ 2,698,984 Additions and other increases 158,460 27,662 11,508 5 126,788 324,423 Transfers 26,434 39,784 10,803 — (77,021) — Disposals and other decreases (45,337) (11,583) (10,694) (9) (2,817) (70,440) Reclassification to assets held for sale (Note 19) (9,188) (6,236) (483) (597) (53) (16,558) Foreign currency translation differences 148,576 80,936 11,946 8,220 24,391 274,069 As of March 31, 2024 ¥ 1,679,054 ¥ 981,944 ¥ 164,945 ¥ 105,845 ¥ 278,689 ¥ 3,210,478 Accumulated depreciation and accumulated impairment losses As of April 1, 2022 ¥ (344,123) ¥ (431,287) ¥ (91,491) ¥ (411) ¥ (2,896) ¥ (870,207) Depreciation expenses (72,900) (60,428) (17,052) — — (150,379) Impairment losses (560) (1,410) (121) — (239) (2,331) Disposals and other decreases 5,429 14,207 10,393 195 — 30,224 Reclassification to assets held for sale (Note 19) 8,209 9,276 3,499 — — 20,983 Foreign currency translation differences (15,585) (16,976) (3,435) (28) (21) (36,045) As of March 31, 2023 ¥ (419,530) ¥ (486,618) ¥ (98,207) ¥ (243) ¥ (3,156) ¥ (1,007,755) Depreciation expenses (80,067) (71,588) (18,684) — — (170,339) Impairment losses (1,082) (4,039) (781) — (9,552) (15,454) Disposals and other decreases 22,173 8,682 10,127 — 1,210 42,192 Reclassification to assets held for sale (Note 19) 7,961 5,353 419 — — 13,733 Foreign currency translation differences (36,879) (37,869) (8,058) (30) (242) (83,078) As of March 31, 2024 ¥ (507,425) ¥ (586,080) ¥ (115,184) ¥ (273) ¥ (11,739) ¥ (1,220,701) JPY (millions) Carrying amount Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Land Construction in progress Total As of April 1, 2022 ¥ 944,455 ¥ 340,737 ¥ 44,404 ¥ 98,243 ¥ 154,960 ¥ 1,582,800 As of March 31, 2023 980,578 364,763 43,660 97,983 204,245 1,691,229 As of March 31, 2024 1,171,629 395,865 49,761 105,572 266,950 1,989,777 Leases The changes in acquisition cost of property, plant and equipment for the years ended March 31, 2023 and 2024 include the following changes in ROU assets: JPY (millions) Acquisition cost of ROU Assets Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Total As of April 1, 2022 ¥ 525,118 ¥ 13,940 ¥ 351 ¥ 539,410 Additions and other increases 31,585 6,828 2 38,416 Disposals and other decreases (21,134) (4,842) (40) (26,016) Foreign currency translation differences 38,016 892 7 38,915 As of March 31, 2023 ¥ 573,585 ¥ 16,818 ¥ 320 ¥ 590,724 Additions and other increases 136,969 7,950 31 144,950 Disposals and other decreases (36,468) (4,840) (33) (41,341) Reclassification to assets held for sale (Note 19) (408) (38) (127) (573) Foreign currency translation differences 68,220 1,988 20 70,228 As of March 31, 2024 ¥ 741,898 ¥ 21,880 ¥ 211 ¥ 763,989 The changes in accumulated depreciation and accumulated impairment losses for the years ended March 31, 2023 and 2024 include the following changes in accumulated depreciation and accumulated impairment losses related to ROU assets: JPY (millions) Accumulated depreciation and accumulated impairment losses of ROU Assets Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Total As of April 1, 2022 ¥ (124,166) ¥ (7,072) ¥ (234) ¥ (131,472) Depreciation expenses (43,260) (4,535) (60) (47,856) Impairment losses (43) — — (43) Disposals and other decreases 4,039 3,999 39 8,077 Foreign currency translation differences (8,719) (429) (9) (9,157) As of March 31, 2023 ¥ (172,149) ¥ (8,037) ¥ (264) ¥ (180,450) Depreciation expenses (45,635) (5,286) (33) (50,954) Disposals and other decreases 17,251 4,221 33 21,505 Reclassification to assets held for sale (Note 19) 405 38 120 562 Foreign currency translation differences (20,368) (865) (16) (21,249) As of March 31, 2024 ¥ (220,496) ¥ (9,930) ¥ (160) ¥ (230,586) The carrying amount of property, plant and equipment includes the carrying amount of following ROU assets: JPY (millions) Carrying amount of ROU Assets Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Total As of April 1, 2022 ¥ 400,952 ¥ 6,868 ¥ 118 ¥ 407,938 As of March 31, 2023 401,437 8,781 56 410,274 As of March 31, 2024 521,403 11,950 51 533,403 Takeda recognized expenses related to leases not included in the measurement of the lease liabilities as follows: JPY (millions) 2022 2023 2024 Expense relating to short-term leases ¥ 4,458 ¥ 4,521 ¥ 4,312 Expense relating to leases of low-value assets that are not short-term leases expenses 1,304 1,255 887 Expense relating to variable lease payments 4,006 4,794 10,954 Total expenses not included in lease liabilities ¥ 9,768 ¥ 10,570 ¥ 16,152 Total cash outflow for leases not included in lease liabilities ¥ 9,768 ¥ 10,570 ¥ 16,152 The total cash outflow for leases on lease liabilities for the years ended March 31, 2022, 2023 and 2024 was JPY 53,628 million, JPY 59,981 million and JPY 75,412 million, respectively. Also, the total future cash outflow for leases not yet commenced to which Takeda is committed for the year ended March 31, 2024 is JPY 225,027 million. Impairment Takeda recognized the following impairment losses, which are reflected as follows, in the consolidated statements of profit or loss: JPY (millions) 2022 2023 2024 Cost of sales ¥ (261) ¥ (375) ¥ (6,225) Selling, general and administrative expenses (34) (75) — Research and development expenses — — (1,307) Other operating expenses (92) (1,881) (7,923) Total ¥ (388) ¥ (2,331) ¥ (15,454) Impairment losses for the year ended March 31, 2022 resulted primarily from discontinued production facilities in Japan. Impairment losses for the year ended March 31, 2023 resulted primarily from a decision to discontinue a production facility in Europe. Impairment losses for the year ended March 31, 2024 resulted primarily from production facilities, whose recoverable amounts were nil, related to ALOFISEL (for complex Crohn's perianal fistulas) following topline results of the phase 3 ADMIRE-CD Ⅱ trial. The carrying amounts of the impaired assets were reduced to the recoverable amounts, which were measured at fair value less costs of disposal. This fair value is classified as Level 3 in the fair value hierarchy. |
Goodwill
Goodwill | 12 Months Ended |
Mar. 31, 2024 | |
Intangible assets and goodwill [abstract] | |
Goodwill | Goodwill JPY (millions) For the Year Ended March 31 2023 2024 Acquisition cost As of beginning of the year ¥ 4,407,749 ¥ 4,790,723 Reclassification to assets held for sale (Note 19) (5,951) (6,626) Foreign currency translation differences and others 388,925 625,970 As of end of the year ¥ 4,790,723 ¥ 5,410,067 Carrying amount As of beginning of the year ¥ 4,407,749 ¥ 4,790,723 As of end of the year 4,790,723 5,410,067 Impairment Testing of Goodwill For the years ended March 31, 2023 and 2024, respectively, goodwill was tested for impairment at the single operating segment level (one CGU), which is the level at which goodwill is monitored for internal management purposes. Impairment loss for goodwill is recognized if the recoverable amount of goodwill is less than the carrying amount. The recoverable amount is the greater of fair value less costs of disposal, or value in use of the CGU. For the years ended March 31, 2023 and 2024, respectively, Takeda did not record an impairment loss for goodwill as a result of the impairment testing performed as of January 1. Takeda’s market capitalization was compared to the book value of Takeda’s net assets and indicated a surplus as of January 1, 2023. For the years ended March 31, 2023 and 2024, the recoverable amount of goodwill was assessed based on fair value less costs of disposal. The fair value less costs of disposal was determined by discounting the estimated future cash flows based on a 10-year projection using a terminal growth rate and a discount rate as well as deducting the estimated costs of disposal. The projection included the sales forecast related to certain products as the significant assumption, associated with product launches, competition from rival products and pricing policy as well as the possibility of generics entering the market and loss of exclusivity. In setting the sales forecast, Takeda considered past experience, external sources of information, knowledge of competitor activity, and industry trends. The valuation methodology uses significant inputs which are not based on observable market data. Therefore, this fair value less costs of disposal is classified as level 3 in the fair value hierarchy. Terminal growth rate and discount rate used in the discounted cash flow models for the impairment tests are as follows: For the Year Ended March 31 2023 2024 Terminal growth rate 0.0% 0.0% Discount rate (post-tax) 6.8% 6.2% Terminal growth rate is based on management’s estimate of future long-term average growth rates. Discount rate is based on weighted average cost of capital (“WACC”) of Takeda. The fair value less costs of disposal exceeded the carrying amount of the CGU, and a reasonable change in the assumptions used for the recoverable amount calculation would not result in an impairment. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Mar. 31, 2024 | |
Intangible assets other than goodwill [abstract] | |
Intangible Assets | Intangible Assets JPY (millions) Acquisition cost Software Intangible assets associated with products Other Total As of April 1, 2022 ¥ 182,778 ¥ 6,240,818 ¥ 11,554 ¥ 6,435,150 Additions and other increases 36,984 676,156 295 713,436 Disposals and other decreases (11,798) (126,610) (13) (138,420) Reclassification to assets held for sale (Note 19) (1,012) — — (1,012) Foreign currency translation differences 12,607 533,707 3 546,317 As of March 31, 2023 ¥ 219,559 ¥ 7,324,072 ¥ 11,839 ¥ 7,555,471 Additions and other increases 47,179 124,878 206 172,263 Disposals and other decreases (4,885) (57,869) (149) (62,903) Reclassification to assets held for sale (Note 19) (266) (33,052) — (33,318) Foreign currency translation differences 27,529 942,404 48 969,980 As of March 31, 2024 ¥ 289,116 ¥ 8,300,433 ¥ 11,944 ¥ 8,601,492 Accumulated amortization and As of April 1, 2022 ¥ (76,634) ¥ (2,539,461) ¥ (510) ¥ (2,616,606) Amortization (25,561) (485,465) (30) (511,056) Impairment losses — (57,341) — (57,341) Disposals and other decreases 10,756 101,888 — 112,643 Reclassification to assets held for sale (Note 19) 397 — — 397 Foreign currency translation differences (5,177) (208,672) (2) (213,851) As of March 31, 2023 ¥ (96,220) ¥ (3,189,051) ¥ (542) ¥ (3,285,813) Amortization (32,587) (521,998) (83) (554,668) Impairment losses (3,126) (166,278) — (169,405) Reversal of impairment losses — 35,686 — 35,686 Disposals and other decreases 4,614 57,838 11 62,462 Reclassification to assets held for sale (Note 19) 203 26,558 — 26,761 Foreign currency translation differences (12,366) (429,462) (5) (441,833) As of March 31, 2024 ¥ (139,483) ¥ (4,186,707) ¥ (620) ¥ (4,326,810) Carrying amount As of April 1, 2022 ¥ 106,143 ¥ 3,701,357 ¥ 11,044 ¥ 3,818,544 As of March 31, 2023 123,340 4,135,020 11,297 4,269,657 As of March 31, 2024 149,632 4,113,726 11,324 4,274,682 There were no material internally generated intangible assets recorded in the consolidated statements of financial position. The intangible assets associated with products are comprised of the following: JPY (millions) Marketed products In-process R&D Carrying amount As of April 1, 2022 ¥ 3,389,453 ¥ 311,904 ¥ 3,701,357 As of March 31, 2023 3,164,380 970,640 4,135,020 As of March 31, 2024 3,148,680 965,045 4,113,726 Marketed products mainly represent license rights associated with commercialized products. In-process R&D mainly represents products in development and license rights obtained in connection with Takeda’s collaboration, in-licensing agreements and other asset acquisitions. These agreements relate to the right to sell products that are being developed (Note 13). The table below provides information about significant intangible assets. JPY (millions) Carrying amount Remaining amortization period As of March 31 As of March 31 2023 2024 2024 Immunoglobulins Marketed products ¥ 766,459 ¥ 795,903 11 Years TAK-279 In-process R&D 533,999 613,329 - TAKHZYRO Marketed products 546,336 562,434 10 Years ADVATE & ADYNOVATE/ADYNOVI Marketed products 278,463 269,275 6 Years VYVANSE/ELVANSE Marketed products 306,242 223,589 2 Years ALUNBRIG Marketed products 213,706 212,376 7 Years Impairment Takeda’s impairment assessment for intangible assets requires a number of significant judgments to be made by management to estimate the recoverable amount, including the estimated pricing and costs, likelihood of regulatory approval, and the estimated market and Takeda’s share of the market. The most significant assumption for intangible assets associated with marketed products is the product market share of the therapeutic area and estimated pricing, whereas the most significant assumption with pre-marketed products and in-process R&D is the probability of regulatory approval. A change in these assumptions may have a significant impact on the amount, if any, of an impairment charge recorded during a period. For example, negative results from a clinical trial may change the assumption and result in an impairment. Products in development may be fully impaired when a trial is unsuccessful and there is no alternative use for the development asset. During the year ended March 31, 2022, Takeda recorded impairment losses of JPY 67,721 million. The recoverable amount of the combined impaired assets amounted to JPY 38,951 million. The impairment losses primarily resulted from a decision to terminate development of a GI product and deterioration of the sales forecast for a rare diseases product. This was offset by a reversal of previously recorded impairment losses of JPY 13,595 million mainly related to a rare diseases product which Takeda made a decision to divest. The recoverable amount of the assets related to the reversal was JPY 22,415 million. During the year ended March 31, 2023, Takeda recorded impairment losses of JPY 57,341 million, primarily resulted from a decision to terminate development of GI products, a decision to terminate a collaboration agreement of an oncology product, and a decision to discontinue manufacturing of a rare diseases product. The recoverable amount of the combined impaired assets amounted to JPY 20,545 million. During the year ended March 31, 2024, Takeda recorded impairment losses of JPY 169,405 million, primarily resulted from JPY 73,979 million impairment losses for ALOFISEL (for complex Crohn's perianal fistulas) following topline results of the phase 3 ADMIRE-CD Ⅱ trial, JPY 28,477 million impairment charges for EXKIVITY (for the treatment of non-small cell lung cancer) following a decision to initiate a voluntary withdrawal globally, and impairment charges for certain assets related to in-process R&D assets including those related to TAK-007 and modakafusp alfa (TAK-573) in Oncology as results of decisions to terminate those programs. There were no recoverable amounts of the combined impaired assets. This was offset by a reversal of impairment losses of JPY 35,686 million related to EOHILIA (TAK-721), a therapy for eosinophilic esophagitis (EoE), following its approval by the U.S. Food and Drug Administration (FDA). These losses are recognized mainly in amortization and impairment losses on intangible assets associated with products in the consolidated statements of profit or loss. Impairment losses were calculated by deducting the recoverable amount from the carrying amount. For the years ended March 31, 2022 and 2023, the recoverable amount was calculated at value in use and the significant assumptions used are as follows: Discount rate Discount rate For the year ended March 31, 2022 6.5% - 14.0% 8.3% - 17.5% For the year ended March 31, 2023 6.5% - 22.0% 8.6% - 27.5% For the year ended March 31, 2024, the recoverable amount was measured at fair value less costs of disposal. This fair value is classified as Level 3 in the fair value hierarchy. The discount rate (post-tax) used for the measurement was 7.2%. |
Collaborations, Licensing Arran
Collaborations, Licensing Arrangements, and Other Asset Acquisitions | 12 Months Ended |
Mar. 31, 2024 | |
Collaborations, Licensing Arrangements, and Other Asset Acquisitions [Abstract] | |
Collaborations, Licensing Arrangements, and Other Asset Acquisitions | Collaborations, Licensing Arrangements, and Other Asset Acquisitions Takeda is a party to certain collaborations, in-licensing agreements, out-licensing arrangements and other asset acquisitions. Out-licensing agreements Takeda has entered into various licensing arrangements where it has licensed certain products or intellectual property rights for consideration such as up-front payments, equity interest of partners, development milestones, sales milestones and/or sales-based royalty payments. The receipt of the variable considerations related to these substantive milestones is uncertain and contingent on the achievement of certain development milestones or the achievement of a specified level of annual net sales by the licensee. Collaborations , in-licensing arrangements, and other asset acquisitions These agreements generally provide for commercialization rights to a product or products being developed by the partner, and in exchange, often resulted in an up-front payment being paid upon execution of the agreement and resulted in an obligation that may require Takeda to make future development, regulatory approval, or commercial milestone payments as well as sales-based royalty payments. In some of these arrangements, Takeda and the licensee are both actively involved in the development and commercialization of the licensed products and have exposure to risks and rewards that are dependent on its commercial success. Other asset acquisitions include acquisitions of legal entities that do not qualify as business combinations under IFRS3, such as acquisitions of entities where the value of these acquired entities largely consists of the rights to a single product or group of products. Under the terms of these collaborations, in-licensing arrangements, and other asset acquisitions, Takeda made the following payments: JPY (millions) For the Year Ended March 31 2022 2023 2024 Initial up-front payments, milestone payments, and other asset acquisitions ¥ 44,944 ¥ 676,156 ¥ 124,878 Acquisition of shares of collaboration and in-licensing partners 785 494 2,050 The following is a description of Takeda’s significant collaborations, and in-licensing agreements, and other asset acquisitions which Takeda entered into for the past three fiscal years. Nimbus Therapeutics, LLC (“Nimbus”) In December 2022, Takeda entered into an agreement to acquire all shares of Nimbus Lakshmi, Inc., a wholly-owned subsidiary of Nimbus. The transaction closed in February 2023. Through this transaction, Takeda acquired TAK-279, formally known as NDI-034858, an oral, selective allosteric tyrosine kinase 2 (TYK2) inhibitor being evaluated for the treatment of multiple autoimmune diseases following successful recent Phase 2b results in psoriasis. Under the terms of the agreement, Takeda agreed to pay USD 4.0 billion upfront following the closing of the transaction * , and will pay 2 milestone payments of USD 1.0 billion each upon achieving annual net sales of USD 4.0 billion and USD 5.0 billion of products developed from the TAK-279 program. In addition, in connection with the transaction, Takeda agreed to assume Nimbus’s obligations under a January 2022 settlement agreement with Bristol-Myers Squibb and its Celgene Corporation subsidiary (collectively, “BMS”) to make certain payments to BMS following the achievement of development, regulatory, and sales-based milestones for products developed from the TAK-279 program. * Of the USD 4.0 billion upfront payment, USD 3.0 billion, USD 0.9 billion, and USD 0.1 billion were paid in February 2023, April 2023, and August 2023, respectively. HUTCHMED (China) Limited and its subsidiary HUTCHMED Limited (collectively, “HUTCHMED”) In January 2023, Takeda entered into an exclusive licensing agreement with HUTCHMED, for the further development and commercialization of fruquintinib outside of mainland China, Hong Kong and Macau. Approved in China in 2018 , fruquintinib is a highly selective and potent inhibitor of vascular endothelial growth factor receptors (VEGFR) -1, 2 and 3. Fruquintinib is orally administered and has the potential to be used across subtypes of refractory metastatic colorectal cancer (CRC), regardless of biomarker status. Under the terms of the agreement, Takeda received an exclusive worldwide license to develop and commercialize fruquintinib in all indications and territories outside of mainland China, Hong Kong and Macau. The transaction closed in March 2023. Subject to the terms of the agreement, Takeda paid HUTCHMED USD 400 million upfront in April 2023, and will pay up to USD 730 million in additional potential payments relating to regulatory, development and commercial sales milestones, as well as royalties on net sales. Protagonist Therapeutics, Inc. (“Protagonist”) In January 2024, Takeda signed a worldwide license and collaboration agreement with Protagonist for the development and commercialization of rusfertide, an investigational injectable hepcidin mimetic peptide of the natural hormone hepcidin, currently in a pivotal Phase 3 trial, VERIFY, for the treatment of Polycythemia Vera (PV). Under the terms of the agreement, Takeda paid USD 300 million upfront in April 2024. Protagonist is eligible to receive additional worldwide development and regulatory milestone payments, as well as commercial milestones and tiered royalties on ex-U.S. net sales. Protagonist remains responsible for research and development through the completion of the Phase 3 clinical trial and U.S. regulatory approval while Takeda has rights for ex-U.S. development and is responsible for leading global commercialization activities. |
Investments Accounted for Using
Investments Accounted for Using the Equity Method | 12 Months Ended |
Mar. 31, 2024 | |
Investments accounted for using equity method [abstract] | |
Investments Accounted for Using the Equity Method | Investments Accounted for Using the Equity Method Financial information for associates accounted for using the equity method is as follows: JPY (millions) 2022 2023 2024 Net profit (loss) for the year ¥ (15,367) ¥ (8,630) ¥ 6,473 Other comprehensive income (loss) (497) (892) (1,793) Total comprehensive income (loss) for the year ¥ (15,863) ¥ (9,522) ¥ 4,681 The carrying amount of the investments in associates accounted for using the equity method is as follows: JPY (millions) 2023 2024 Carrying amount of investments accounted for using the equity method ¥ 99,174 ¥ 89,831 |
Other Financial Assets
Other Financial Assets | 12 Months Ended |
Mar. 31, 2024 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other Financial Assets | Other Financial Assets JPY (millions) 2023 2024 Derivative assets (Note 27) ¥ 79,654 ¥ 120,223 Investment in convertible notes at fair value through P&L (Note 27) 11,435 13,459 Investment in debt instruments at fair value through P&L (Note 27) 1,063 1,113 Investment in equity instruments at fair value through OCI (Note 27) 157,731 182,887 Financial assets associated with contingent consideration arrangements (Note 27) 23,806 12,293 Other 26,168 25,892 Total ¥ 299,857 ¥ 355,866 Non-current ¥ 279,683 ¥ 340,777 Current ¥ 20,174 ¥ 15,089 As of March 31, 2023 and 2024, equity instruments included JPY 74,495 million and JPY 93,962 million, respectively, of investments in public companies. These are considered Level 1 in the fair value hierarchy as defined in Note 27. The remainder of the equity instruments primarily relates to investments acquired in connection with collaborations and licensing agreements (Note 13) and are considered Level 3 investments in the fair value hierarchy. As of March 31, 2023 and 2024, financial assets associated with contingent consideration arrangements are assets mainly recognized in relation to the divestiture of XIIDRA (Note 27) and are considered Level 3 investments in the fair value hierarchy. |
Inventories
Inventories | 12 Months Ended |
Mar. 31, 2024 | |
Inventories [Abstract] | |
Inventories | Inventories JPY (millions) 2023 2024 Finished products and merchandise ¥ 269,042 ¥ 349,590 Work-in-process 436,508 522,667 Raw materials and supplies 280,908 337,612 Total ¥ 986,457 ¥ 1,209,869 The amount of inventory write-offs recognized was JPY 25,018 million, JPY 18,392 million, and JPY 26,335 million for the years ended March 31, 2022, 2023 and 2024 respectively, and was included in cost of sales. |
Trade and Other Receivables
Trade and Other Receivables | 12 Months Ended |
Mar. 31, 2024 | |
Trade and other receivables [abstract] | |
Trade and Other Receivables | Trade and Other Receivables JPY (millions) 2023 2024 Trade receivables ¥ 674,691 ¥ 718,675 Other receivables 73,999 55,964 Impairment loss allowance (7,356) (8,376) Chargebacks and other allowances (91,904) (97,860) Total ¥ 649,429 ¥ 668,403 Takeda utilizes programs to sell certain trade and other receivables to a select group of banks on a non-recourse basis. Under these programs, trade and other receivables sold are derecognized when the risks and rewards of ownership have been transferred. These trade and other receivables relate to specific customers determined in advance and are eligible for sale, but which of them will be sold will be determined by both parties on a monthly basis. Therefore, these trade and other receivables are held for both collecting cash from customers as well as selling to banks. Trade and other receivables due from customers that Takeda has the option to factor are classified as investments in debt instruments measured at FVTOCI since they are held to collect and sell. As of March 31, 2023 and 2024, trade and other receivables measured at FVTOCI were JPY 71,080 million and JPY 83,734 million, respectively. |
Cash and Cash Equivalents
Cash and Cash Equivalents | 12 Months Ended |
Mar. 31, 2024 | |
Cash and cash equivalents [abstract] | |
Cash and Cash Equivalents | Cash and Cash Equivalents JPY (millions) 2023 2024 Cash and deposits ¥ 229,557 ¥ 205,190 Short-term investments 303,973 252,611 Total ¥ 533,530 ¥ 457,800 |
Assets and Disposal Groups Held
Assets and Disposal Groups Held for Sale | 12 Months Ended |
Mar. 31, 2024 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |
Assets and Disposal Groups Held for Sale | Assets and Disposal Groups Held for Sale Takeda has classified certain assets as held for sale in the consolidated statements of financial position. Non-current assets and disposal groups are transferred to assets held for sale when it is expected that their carrying amounts will be recovered principally through a sale and the sale is considered highly probable. The non-current assets and disposal groups held for sale are held at the lower of carrying amount or fair value less costs to sell. Gains or losses recognized from measuring the disposal groups classified as held for sale at the lower of their carrying amounts or fair value less costs to sell are recorded as other operating income or expenses. Disposal Groups Held for Sale JPY (millions) 2023 2024 Property, plant and equipment ¥ 9,847 ¥ 3,162 Goodwill 3,347 3,745 Intangible assets 402 62 Inventories 1,200 1,242 Trade and other receivables — 767 Deferred tax assets 45 347 Other assets 395 13 Total assets ¥ 15,235 ¥ 9,337 Trade and other payables ¥ — ¥ 660 Deferred tax liabilities — 307 Other liabilities 144 442 Total liabilities ¥ 144 ¥ 1,410 The disposal groups held for sale consisted of the following and its fair value are classified as Level 3 in the fair value hierarchy as of March 31, 2023. • The assets and liabilities such as intangible assets related to Shonan Health Innovation Park in Japan were classified as held for sale, following management decision and signing an agreement to transfer its operation business to iPi Business Preparation Company (iPark Institute Co., Ltd). The transfer of its operation business was completed in April 2023, and the impact from this transfer on the consolidated statements of profit or loss for the fiscal year ended March 31, 2023 was not material. • Takeda entered into an agreement to transfer manufacturing operation of TACHOSIL in Austria and classified the corresponding assets such as goodwill and property, plant and equipment as held for sale. • The assets such as property, plant and equipment were classified as held for sale following a sales agreement of Center for Learning and Innovation (CLI) in Japan. Also, during the fiscal year ended March 31, 2023, Takeda classified the assets such as property, plant and equipment as held for sale related to an agreement to divest the manufacturing site in Norway and completed the divestiture. The proceeds from this divestiture comprised the majority of Takeda’s proceeds from sales of business (net of cash and cash equivalents divested) in the consolidated statements of cash flows of JPY 7,958 million for the fiscal year ended March 31, 2023. The disposal groups held for sale consisted of the following and its fair value are classified as Level 3 in the fair value hierarchy as of March 31, 2024. • The assets such as goodwill and property, plant and equipment were classified as held for sale during the fiscal year ended March 31, 2023, following an agreement Takeda entered into to transfer manufacturing operation of TACHOSIL in Austria. The transfer of the operation is completed in May 2024. • Takeda entered into an agreement to divest Takeda’s entire shares of a wholly-owned subsidiary, Nihon Pharmaceutical Co. Ltd, and classified the corresponding assets and liabilities such as property, plant and equipment as held for sale. In addition, during the fiscal year ended March 31, 2024, Takeda classified the assets and liabilities such as intangible assets and goodwill as held for sale related to an asset purchase agreement to transfer Instanyl and Matrifen and completed the divestiture in January 2024 (Note 5). The proceeds from this divestiture comprised the majority of Takeda’s proceeds from sales of business (net of cash and cash equivalents divested) in the consolidated statements of cash flows of JPY 19,959 million for the fiscal year ended March 31, 2024. When disposal groups were classified as held for sale, Takeda recorded an impairment loss of JPY 4,693 million and JPY 1,685 million in other operating expenses (Note 5) during the year ended March 31, 2023 and 2024, respectively. |
Bonds and Loans
Bonds and Loans | 12 Months Ended |
Mar. 31, 2024 | |
Borrowings [abstract] | |
Bonds and Loans | Bonds and Loans JPY (millions) 2023 2024 Bonds ¥ 3,658,314 ¥ 4,092,879 Short-term loans 256 251 Long-term loans 723,772 750,622 Total ¥ 4,382,341 ¥ 4,843,752 Non-current ¥ 4,042,741 ¥ 4,476,501 Current ¥ 339,600 ¥ 367,251 The composition of bonds is as follows: Instrument JPY (millions) Maturity Principal amount in contractual currency (millions) As of As of Interest rate (%) Hybrid subordinated bonds ¥ 500,000 498,876 499,614 1.720% per annum through October 6, 2024 and 6 month LIBOR (5) + margin (1.750-2.750%) thereafter June 2079 2018 EUR Unsecured Senior Notes – fixed rate € 3,000 433,611 487,381 2.250-3.000% November 2026 - November 2030 2018 USD Unsecured Senior Notes – fixed rate $2,250 as of March 31, 2023 $1,750 as of March 31, 2024 298,842 263,701 5.000 % November 2028 (3) Unsecured Senior Notes Assumed in Shire Acquisition $4,000 as of March 31, 2023 $3,000 as of March 31, 2024 515,298 439,725 3.200 % September 2026 (2) Unsecured Senior Notes Assumed in Shire Acquisition $ 1,301 174,239 198,116 4.000-5.250% June 2025 - June 2045 2020 USD Unsecured Senior Notes – fixed rate $ 7,000 928,210 1,053,742 2.050-3.375% March 2030 - July 2060 2020 EUR Unsecured Senior Notes – fixed rate € 3,600 519,808 584,105 0.750-2.000% July 2027 - July 2040 JPY Unsecured Senior Bonds – fixed rate ¥ 250,000 249,429 249,495 0.400% October 2031 Commercial Paper ¥40,000 as of March 31, 2023 ¥317,000 as of March 31, 2024 40,000 317,000 — May 2024 - June 2024 Total ¥ 3,658,314 ¥ 4,092,879 The composition of loans is as follows: Instrument JPY (millions) Maturity Principal amount in contractual currency (millions) As of As of Interest rate (%) Syndicated Loans 2016 ¥200,000 as of March 31, 2023 ¥100,000 as of March 31, 2024 200,000 100,000 0.300 % April 2026 (1) Syndicated Loans 2017 ¥ 113,500 113,500 113,500 0.350% April 2027 USD Syndicated Loans 2017 $ 1,500 199,993 227,018 6 months Term SOFR + 0.42826% (4) + 0.500% April 2027 Syndicated loans 2023 ¥ 100,000 — 100,000 0.679 % April 2030 (1) Bilateral Loans ¥ 210,000 210,000 210,000 0.190–0.815% April 2024-March 2029 Other 534 355 Total ¥ 724,027 ¥ 750,873 On April 26, 2023, Takeda repaid JPY 100.0 billion in Syndicated Loans falling due and on the same day entered into new Syndicated Loans of JPY 100.0 billion maturing on April 26, 2030 (1) . Following this, Takeda redeemed USD 1,000 million of unsecured senior notes issued in September 2016 on their maturity date of September 23, 2023 (2) . Furthermore, Takeda redeemed USD 500 million of unsecured senior notes issued in November 2018 on their maturity date of November 26, 2023 (3) . Takeda had short term commercial paper drawings outstanding of JPY 317.0 billion as of March 31, 2024. Takeda transitioned away from LIBOR as a benchmark rate from July 1, 2023 in respect of the USD 1,500 million Syndicated Loans 2017 where 6 months USD LIBOR was replaced by 6 months Term SOFR + 0.42826% on interest payment dates from October 2023 (4) . The impact of the transition is not significant. In respect of the Hybrid subordinated bonds that attract a fixed interest rate until October 6, 2024 and 6 month JPY LIBOR plus margin thereafter, Takeda plans to call and replace the bond in full on the bond call date of October 6, 2024 (5) with any replacement bond being priced off a Japanese Government Bond benchmark. There are no changes in Takeda’s risk management strategy arising from the replacement of the benchmark rate. In September 2019, Takeda reached an agreement on a commitment facility of JPY 700.0 billion with various Japanese and non-Japanese banks. The commitment facility has a maturity of September 2026 and is available for general business use. There were no drawdowns on the JPY 700.0 billion commitment facility as of March 31, 2023 and 2024, respectively. There are long-term financing agreements that contain financial covenants, a key one of which requires Takeda’s ratio of consolidated Adjusted Net Debt to Adjusted EBITDA, as defined in the loan agreements, for the previous twelve-month period to not surpass certain levels as of March 31 and September 30 of each year. Takeda was in compliance with all financial covenants as of March 31, 2023 and 2024, respectively. In 2017, Takeda entered into USD to JPY cross currency interest rate swap agreements to fix the interest rate for USD 925 million of the floating rate USD Syndicated Loans 2017. In respect of the remaining USD 575 million of the floating rate USD Syndicated Loans 2017, Takeda entered into a cross currency interest rate swap agreement to fix the applicable interest rate. Furthermore, in 2020, Takeda entered into USD to JPY cross currency interest rate swaps of USD 5,750 million in respect of USD 1,750 million of the fixed rate 2018 USD Unsecured Senior Notes and USD 4,000 million of the fixed rate 2020 USD Unsecured Senior Notes. During the fiscal year ended March 31, 2024, cross currency interest rate swaps of USD 4,250 million out of the USD 5,750 million entered in 2020 were terminated, and Takeda entered into new cross currency interest rate swaps of same amount and terms in June and July 2023. |
Other Financial Liabilities
Other Financial Liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of financial liabilities [abstract] | |
Other Financial Liabilities | Other Financial Liabilities JPY (millions) 2023 2024 Derivative liabilities (Note 27) ¥ 40,721 ¥ 25,108 Lease liabilities (Note 27) 479,351 619,639 Financial liabilities associated with programs to sell certain receivables 78,041 79,062 Financial liabilities associated with contingent consideration arrangements (Note 27) 8,139 7,772 Other 113,554 99,673 Total ¥ 719,806 ¥ 831,254 Non-current ¥ 534,269 ¥ 687,833 Current ¥ 185,537 ¥ 143,421 “Other” mainly includes deposits related to certain vaccines operations. |
Employee Benefits
Employee Benefits | 12 Months Ended |
Mar. 31, 2024 | |
Employee Benefits [Abstract] | |
Employee Benefits | Employee Benefits Defined Benefit Plans The Company and some of its subsidiaries have various defined benefit plans such as lump-sum retirement payments plans and defined benefit pension plans, which define the amount of benefits that an employee will receive on or after retirement, usually based on one or more factors, such as age, years of employment, compensation, classes, and service. The Company’s defined benefit plans are the most significant plans among Takeda’s defined benefit obligations and plan assets. Defined benefit pension plans Japan The Company’s corporate defined benefit pension plan in Japan is a funded defined benefit pension plan, which is regulated by the Defined-Benefit Corporate Pension Act, one of the Japanese pension laws. Benefits are paid in exchange for services rendered by employees who worked for more than a specified period, typically three years, considering their years of service and the degree of their contribution to the Company. The Company’s pension fund (the “Fund”) is an independent entity established in accordance with the Japanese pension laws, and Takeda has an obligation to make contributions. The Director(s) of the Fund has the fiduciary duty to comply with laws; the directives by the Minister of Health, Labour and Welfare, and the Director-Generals of Regional Bureaus of Health and Welfare made pursuant to those laws; and the by-laws of the Fund and the decisions made by the Board of Representatives of the Fund. Contributions are also regularly reviewed and adjusted as necessary to the extent permitted by laws and regulations. Foreign Other types of defined benefit pension plans operated by Takeda are generally established and operated in the same manner as described above and in accordance with local laws and regulations where applicable. The present value of the defined benefit obligation is calculated annually based on actuarial valuations that are dependent upon a number of assumptions, including discount rates and future salary (benefit) increases. Service costs charged to operating expense related to defined benefit plans represent the increase in the defined benefit liability arising from pension benefits earned by active participants in the current period. Takeda is exposed to investment and other experience risks and may need to make additional contributions where it is estimated that the benefits will not be met from regular contributions, expected investment income, and assets held. The amounts recognized in the consolidated statements of profit or loss and the consolidated statements of financial position are as follows: Consolidated statements of profit or loss JPY (millions) 2022 2023 2024 Japan ¥ 2,992 ¥ 2,990 ¥ 2,741 Foreign 14,387 13,782 15,956 Defined benefit costs ¥ 17,379 ¥ 16,772 ¥ 18,697 Consolidated statements of financial position JPY (millions) As of March 31, 2023 Japan Foreign Total Present value of defined benefit obligations ¥ 153,371 ¥ 247,725 ¥ 401,096 Fair value of plan assets 217,296 128,333 345,630 Effect of asset ceiling 41,311 — 41,311 Net defined benefit liabilities (assets) ¥ (22,614) ¥ 119,392 ¥ 96,777 Consolidated statements of financial position Net defined benefit liabilities ¥ 8,202 ¥ 119,392 ¥ 127,594 Net defined benefit assets 30,816 — 30,816 Net amount of liabilities (assets) recognized in the consolidated statements of financial position ¥ (22,614) ¥ 119,392 ¥ 96,777 JPY (millions) As of March 31, 2024 Japan Foreign Total Present value of defined benefit obligations ¥ 143,712 ¥ 301,078 ¥ 444,790 Fair value of plan assets ¥ 226,229 ¥ 165,514 ¥ 391,743 Effect of asset ceiling 63,422 — 63,422 Net defined benefit liabilities (assets) ¥ (19,096) ¥ 135,564 ¥ 116,469 Consolidated statements of financial position Net defined benefit liabilities ¥ 8,317 ¥ 135,564 ¥ 143,882 Net defined benefit assets 27,413 — 27,413 Net amount of liabilities (assets) recognized in the consolidated statements of financial position ¥ (19,096) ¥ 135,564 ¥ 116,469 Net defined benefit assets were included in other non-current assets on the consolidated statements of financial position. Defined benefit obligations A summary of changes in present value of the defined benefit obligations for the periods presented is as follows: JPY (millions) For the Year Ended March 31, 2023 Japan Foreign Total At beginning of the year ¥ 168,449 ¥ 254,462 ¥ 422,912 Current service cost 3,174 10,787 13,961 Interest cost 1,371 5,838 7,209 Remeasurement of defined benefit pension plans From changes in demographic assumptions 164 102 266 From changes in financial assumptions (10,735) (42,603) (53,338) Experience adjustments 459 3,477 3,935 Past service cost — (38) (38) Benefits paid (9,511) (9,955) (19,467) Contributions by the employees — 3,807 3,807 Foreign currency translation differences — 21,849 21,849 At end of the year ¥ 153,371 ¥ 247,725 ¥ 401,096 JPY (millions) For the Year Ended March 31, 2024 Japan Foreign Total At beginning of the year ¥ 153,371 ¥ 247,725 ¥ 401,096 Current service cost 3,004 11,233 14,236 Interest cost 2,078 9,427 11,505 Remeasurement of defined benefit pension plans From changes in demographic assumptions (341) 197 (143) From changes in financial assumptions (5,508) 11,387 5,879 Experience adjustments 426 (4,628) (4,202) Past service cost — (67) (67) Benefits paid (9,318) (12,939) (22,257) Contributions by the employees — 4,610 4,610 Foreign currency translation differences — 34,132 34,132 At end of the year ¥ 143,712 ¥ 301,078 ¥ 444,790 The remaining weighted average duration of the defined benefit obligations was 12.6 years and 12.5 years as of March 31, 2023 and 2024, respectively. Significant actuarial assumptions used to determine the present value are as follows: Discount rate Future salary increases As of March 31, 2023 Japan 1.3 % — Foreign 3.4 % 3.0 % As of March 31, 2024 Japan 1.7 % — Foreign 3.0 % 3.1 % Takeda has cash balance plans and the future salary increases are not used to determine the present value of the defined benefit obligations for those plans. As of March 31, 2023 and 2024, future salary increases were not used to determine the present value of the defined benefit obligations related to all the defined benefit plans in Japan and certain plans in foreign countries. A 0.5% change in these actuarial assumptions would affect the present value of defined benefit obligations at the end of the reporting period, while holding all other assumptions constant, by the amounts shown below: JPY (millions) Discount Rate Future Salary Increases Change in Impact Change in Impact As of March 31, 2023 Japan +0.50 % (9,235) +0.50 % — -0.50 % 10,000 -0.50 % — Foreign +0.50 % (14,411) +0.50 % 3,578 -0.50 % 15,931 -0.50 % (3,278) As of March 31, 2024 Japan +0.50 % (8,414) +0.50 % — -0.50 % 9,092 -0.50 % — Foreign +0.50 % (17,458) +0.50 % 4,463 -0.50 % 19,599 -0.50 % (4,129) Plan assets The defined benefit plans are independent of Takeda and funded only by contributions from Takeda. Takeda’s investment policies are designed to secure the necessary returns in the long-term within acceptable risk levels to ensure payments of pension benefits to eligible participants, including future participants. The acceptable risk level in the return rate on the plan assets is derived from a detailed study considering the mid- to long-term trends and the changes in income such as contributions and payments. Based on policies and studies, after consideration of issues such as the expected rate of return and risks, Takeda formulates a basic asset mix which aims at an optimal portfolio on a long-term basis with the selection of appropriate investment assets. A summary of changes in fair value of plan assets for the periods presented is as follows: JPY (millions) 2023 2024 Balance at beginning of the year ¥ 342,503 ¥ 345,630 Interest income on plan assets 4,608 7,527 Remeasurement of defined benefit plans Return on plan assets (15,712) 15,923 Contributions by the employer 12,769 14,758 Contributions by the employees 3,807 4,610 Benefits paid (13,589) (15,161) Foreign currency translation differences 11,244 18,457 Balance at end of the year ¥ 345,630 ¥ 391,743 Takeda expects to contribute JPY 19,222 million to the defined benefit plans for the year ending March 31, 2025. The breakdown of fair value by asset class is as follows: JPY (millions) 2023 2024 With quoted prices in active markets No quoted prices in active markets With quoted prices in active markets No quoted prices in active markets Equities: Japan ¥ 9,911 ¥ 2,178 ¥ 11,796 ¥ 2,803 Foreign 38,277 81,265 53,396 86,372 Bonds: Japan 14,567 17,405 399 17,276 Foreign 10,407 33,893 33,153 79,251 Life insurance company general accounts — 70,775 — 70,070 Investment trust funds — 40,026 — — Cash and cash equivalent 7,681 — 10,951 — Others 517 18,727 1,541 24,736 Total plan assets ¥ 81,360 ¥ 264,269 ¥ 111,236 ¥ 280,507 Equities and bonds with no quoted prices in active markets include pooled funds that are primarily invested in listed securities on active markets. Life insurance company general accounts are accounts with guaranteed capital and minimum interest rate, in which life insurance companies manage funds on a pooled basis. Changes in effect of asset ceiling for the periods presented are as follows: JPY (millions) 2023 2024 Balance at beginning of the year ¥ 30,953 ¥ 41,311 Interest income 248 549 Remeasurement Changes in effect of asset ceiling 10,110 21,561 Balance at end of the year ¥ 41,311 ¥ 63,422 Defined Contribution Plans The Company and some of the Company’s subsidiaries offer defined contribution benefit plans. Benefits of defined contribution plans are linked to contributions paid, the performance of each participant’s chosen investments, and the form in which participants choose to redeem their benefits. Contributions made into these plans are generally paid into an independently administered fund. Contributions payable by Takeda for these plans are charged to operating expenses. Takeda has no exposure to investment risks and other experience risks with regard to defined contribution plans. The amount of defined contribution costs was JPY 37,345 million, JPY 46,446 million, and JPY 60,521 million for the years ended March 31, 2022, 2023, and 2024, respectively. These amounts include contributions to publicly provided plans. Other Employee Benefit Expenses Major employee benefit expenses other than retirement benefits for each fiscal year are as follows: JPY (millions) 2022 2023 2024 Salary ¥ 458,039 ¥ 573,080 ¥ 688,316 Bonuses 127,888 133,792 161,821 Other 187,440 237,857 274,094 The above table does not include severance expenses. |
Provisions
Provisions | 12 Months Ended |
Mar. 31, 2024 | |
Provisions [abstract] | |
Provisions | Provisions The movements in the provisions are as follows: JPY (millions) Litigation (Note 32) Restructuring Rebates and return Other Total As of April 1, 2022 ¥ 42,869 ¥ 13,353 ¥ 404,982 ¥ 34,497 ¥ 495,701 Increases 25,096 7,807 1,005,330 17,095 1,055,328 Decreases (utilized) (3,981) (12,098) (953,287) (16,538) (985,905) Decreases (reversed) (95) (1,066) (25,624) (11,200) (37,985) Foreign currency translation differences 402 956 33,813 2,019 37,190 As of March 31, 2023 ¥ 64,290 ¥ 8,951 ¥ 465,214 ¥ 25,874 ¥ 564,329 Increases 54,679 14,326 956,682 10,864 1,036,551 Decreases (utilized) (93,016) (10,716) (993,456) (12,106) (1,109,294) Decreases (reversed) (6,864) (1,664) (30,307) (5,734) (44,568) Foreign currency translation differences 3,253 1,205 85,127 2,191 91,775 As of March 31, 2024 ¥ 22,342 ¥ 12,102 ¥ 483,259 ¥ 21,089 ¥ 538,793 The current portion of the provision is JPY 443,502 million, JPY 508,360 million and JPY 524,420 million as of April 1, 2022, March 31, 2023 and 2024, respectively. The non-current portion of the provision is JPY 52,199 million, JPY 55,969 million and JPY 14,373 million as of April 1, 2022, March 31, 2023 and 2024, respectively. Restructuring Takeda has various restructuring efforts in place during the years ended March 31, 2022, 2023 and 2024, in connection with the following: • Integration of Shire - In the years ended March 31, 2022 and 2023, Takeda directed various restructuring efforts following the Shire acquisition. The integration of Shire includes initiatives to consolidate systems, sites, and functions, and to optimize the workforce. • Various other efforts to improve the efficiency of its operations and related facilities. A restructuring provision is recorded when Takeda has developed a detailed formal plan for the restructuring and, through an execution of the plan or an announcement of its main features to those affected by it, a valid expectation has been raised in those affected by the plan that the plan will be implemented. Takeda records the provision and associated expenses based on estimated costs associated with the plan. The ultimate cost and the timing of any payments under the plan will be impacted by the actual timing of the actions and the actions of employees impacted by the restructuring activities. Restructuring expenses recorded for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: JPY (millions) 2022 2023 2024 Cash: Severance ¥ 15,230 ¥ 10,605 ¥ 13,685 Consulting fees 2,963 12,709 11,528 Other 65,163 33,601 48,622 Total ¥ 83,357 ¥ 56,915 ¥ 73,835 Non-Cash: Depreciation and impairment ¥ 479 ¥ 2,320 ¥ 7,523 Total ¥ 83,836 ¥ 59,234 ¥ 81,358 Other restructuring expenses for the fiscal years ended March 31, 2022, 2023 and 2024 include personnel expenses of JPY 9,420 million, JPY 9,683 million, and JPY 9,769 million, respectively, and mainly related to retention bonus and salary of employees fully dedicated to restructuring programs. Also, other restructuring expenses for the fiscal years ended March 31, 2022 and 2023 include expenses related to system optimization by the integration of Shire in digital transformation initiatives and those expenses for the fiscal year ended March 31, 2024 include expenses related to lease termination agreement to consolidate the offices for the purpose of maximizing organizational effectiveness. The Company’s Board of Directors held on May 9, 2024 approved a multi-year efficiency program and, primarily as a result of the program, a restructuring expense of JPY 140,000 million is projected to be incurred in the fiscal year ending March 31, 2025. Rebates and Returns Takeda has recognized a provision related mainly to sales rebates and returns for products and merchandises. The balances stated in the summary table above include provisions of JPY 293,385 million and JPY 253,832 million as of March 31, 2023 and 2024, respectively, for contractual and statutory rebates payable under Commercial healthcare provider contracts and U.S. State and Federal government health programs, such as U.S. Medicaid and U.S. commercial managed care programs. These are expected to be paid out generally within one year. Return reserves are recorded primarily for credits expected to be issued to customers for certain expired product that will be returned. S ales rebates and sales returns reserves are reviewed and updated monthly or when there is a significant change in its amount. Other Other provisions are primarily related to asset retirement obligations, contract termination fees and onerous contracts. |
Other Liabilities
Other Liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Other Liabilities | Other Liabilities JPY (millions) 2023 2024 Accrued expenses ¥ 531,891 ¥ 627,659 Deferred income 32,103 30,015 Other 68,083 42,439 Total ¥ 632,078 ¥ 700,112 Non-current ¥ 65,389 ¥ 80,938 Current ¥ 566,689 ¥ 619,174 Accrued expenses include accrued employee benefit expenses of JPY 229,130 million and JPY 283,359 million as of March 31, 2023 and 2024, respectively. |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Mar. 31, 2024 | |
Trade and other payables [abstract] | |
Trade and Other Payables | Trade and Other Payables JPY (millions) 2023 2024 Trade payables ¥ 307,453 ¥ 319,955 Other payables 341,780 227,566 Total ¥ 649,233 ¥ 547,521 |
Equity and Other Equity Items
Equity and Other Equity Items | 12 Months Ended |
Mar. 31, 2024 | |
Equity [abstract] | |
Equity and Other Equity Items | Equity and Other Equity Items Thousands of Shares 2023 2024 Authorized shares as of the beginning of the year 3,500,000 3,500,000 Shares issued: At the beginning of the year 1,582,253 1,582,296 Exercise of stock options 44 123 Issuance of shares — — As of the end of the year 1,582,296 1,582,419 The shares issued by the Company are ordinary shares with no par value that have no restrictions on any rights. The number of treasury shares included in the above shares issued was 31,892 thousand shares, 27,767 thousand shares, and 13,405 thousand shares as of April 1, 2022, March 31, 2023, and 2024, respectively. The number of treasury shares as of April 1, 2022, March 31, 2023 and 2024 includes 9,161 thousand shares, 6,215 thousand shares and 5,888 thousand shares, respectively, held by the Employee Stock Ownership Plan (“ESOP”) Trust and the Board Incentive Plan (“BIP”) Trust. During the year ended March 31, 2023, the ESOP and BIP Trust acquired 554 thousand shares and sold 3,500 thousand shares. During the year ended March 31, 2024, the ESOP and BIP Trust acquired 520 thousand shares and sold 847 thousand shares. During the year ended March 31, 2023, the Company conducted the disposal of 8,091 thousand treasury shares under Long Term Incentive Plan (“LTIP”) for the Company Group employees overseas. The disposal of treasury shares resulted in a decrease in treasury shares of JPY 27,599 million. During the year ended March 31, 2024, the Company conducted the disposal of 13,958 thousand treasury shares under LTIP for the Company Group employees overseas. The disposal of treasury shares resulted in a decrease in treasury shares of JPY 47,614 million. The shares of the Company’s common stock and treasury shares were converted into the Company’s American Depositary Shares (“ADSs”) and settled with employees. During the year ended March 31, 2023, Takeda acquired 6,908 thousand shares of its common stock for JPY 24,993 million, and the acquisition in accordance with the resolution on the acquisition of its own shares at the Board of Directors Meeting held on October 28, 2021 was completed. Dividends declared and paid JPY (millions) Dividends per share JPY Record date Effective date April 1, 2021, to March 31, 2022 Q1 2021 ¥ 141,859 ¥ 90.00 March 31, 2021 June 30, 2021 Q3 2021 142,387 90.00 September 30, 2021 December 1, 2021 April 1, 2022, to March 31, 2023 Q1 2022 140,365 90.00 March 31, 2022 June 30, 2022 Q3 2022 140,474 90.00 September 30, 2022 December 1, 2022 April 1, 2023, to March 31, 2024 Q1 2023 140,475 90.00 March 31, 2023 June 29, 2023 Q3 2023 148,037 94.00 September 30, 2023 December 1, 2023 Dividends declared for which the effective date falls in the following fiscal year are as follows: Dividends declared JPY (millions) Dividends per share JPY Record date Effective date April 1, 2024, to March 31, 2025 Q1 2024 148,041 ¥ 94.00 March 31, 2024 June 27, 2024 |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2024 | |
Financial Instruments [Abstract] | |
Financial Instruments | Financial Instruments Takeda promotes risk management to reduce the financial risks arising from business operations. The principal risks to which Takeda is exposed include market risk, counterparty credit risk, and liquidity risk caused by changes in the market environment such as fluctuations in foreign exchange rates, interest rates and market prices of commodities and other financial holdings. Each of these risks is managed in accordance with Takeda’s policies. Financial Assets and Liabilities JPY (millions) As of March 31, 2023 Financial assets measured at amortized Measured at fair value through other comprehensive income Measured at fair value through profit or loss Derivative hedging instruments Other financial liabilities Total Financial assets measured at fair value Other financial assets - Equity instruments ¥ — ¥ 157,731 ¥ — ¥ — ¥ — ¥ 157,731 Derivative financial instruments — — 17,131 62,522 — 79,654 Investments in convertible notes — — 11,435 — — 11,435 Investments in debt instruments — — 1,063 — — 1,063 Financial assets associated with contingent consideration arrangements — — 23,806 — — 23,806 Trade and other receivables — 71,080 — — — 71,080 Total ¥ — ¥ 228,811 ¥ 53,435 ¥ 62,522 ¥ — ¥ 344,769 Financial assets not measured at fair value Other financial assets - Other ¥ 26,168 ¥ — ¥ — ¥ — ¥ — ¥ 26,168 Trade and other receivables 578,349 — — — — 578,349 Cash and cash equivalents 533,530 — — — — 533,530 Total ¥ 1,138,047 ¥ — ¥ — ¥ — ¥ — ¥ 1,138,047 Financial liabilities measured at fair value Other financial liabilities - Derivative financial instruments ¥ — ¥ — ¥ 15,261 ¥ 25,460 ¥ — ¥ 40,721 Financial liabilities associated with contingent consideration arrangements — — 8,139 — — 8,139 Total ¥ — ¥ — ¥ 23,400 ¥ 25,460 ¥ — ¥ 48,860 Financial liabilities not measured at fair value Other financial liabilities - Lease liabilities ¥ — ¥ — ¥ — ¥ — ¥ 479,351 ¥ 479,351 Other — — — — 191,595 191,595 Trade and other payables — — — — 649,233 649,233 Bonds and loans — — — — 4,382,341 4,382,341 Total ¥ — ¥ — ¥ — ¥ — ¥ 5,702,520 ¥ 5,702,520 JPY (millions) As of March 31, 2024 Financial assets measured at amortized Measured at fair value through other comprehensive income Measured at fair value through profit or loss Derivative hedging instruments Other financial liabilities Total Financial assets measured at fair value Other financial assets - Equity instruments ¥ — ¥ 182,887 ¥ — ¥ — ¥ — ¥ 182,887 Derivative financial instruments — — 17,617 102,606 — 120,223 Investments in convertible notes — — 13,459 — — 13,459 Investments in debt instruments — — 1,113 — — 1,113 Financial assets associated with contingent consideration arrangements — — 12,293 — — 12,293 Trade and other receivables — 83,734 — — — 83,734 Total ¥ — ¥ 266,621 ¥ 44,482 ¥ 102,606 ¥ — ¥ 413,709 Financial assets not measured at fair value Other financial assets - Other ¥ 25,892 ¥ — ¥ — ¥ — ¥ — ¥ 25,892 Trade and other receivables 584,669 — — — — 584,669 Cash and cash equivalents 457,800 — — — — 457,800 Total ¥ 1,068,361 ¥ — ¥ — ¥ — ¥ — ¥ 1,068,361 Financial liabilities measured at fair value Other financial liabilities - Derivative financial instruments ¥ — ¥ — ¥ 13,783 ¥ 11,325 ¥ — ¥ 25,108 Financial liabilities associated with contingent consideration arrangements — — 7,772 — — 7,772 Other — — 1,797 — — 1,797 Total ¥ — ¥ — ¥ 23,352 ¥ 11,325 ¥ — ¥ 34,677 Financial liabilities not measured at fair value Other financial liabilities - Lease liabilities ¥ — ¥ — ¥ — ¥ — ¥ 619,639 ¥ 619,639 Other — — — — 176,938 176,938 Trade and other payables — — — — 547,521 547,521 Bonds and loans — — — — 4,843,752 4,843,752 Total ¥ — ¥ — ¥ — ¥ — ¥ 6,187,850 ¥ 6,187,850 Fair Value Measurement Derivative and non-derivative financial instruments measured at fair value are categorized in the following three-tier fair value hierarchy that reflects the significance of the inputs in making the measurements. Level 1 is defined as observable inputs, such as quoted prices in active markets for an identical asset or liability. Level 2 is defined as inputs other than quoted prices in active markets within Level 1 that are directly or indirectly observable. Level 3 is defined as unobservable inputs. JPY (millions) As of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Financial assets measured at fair value through profit or loss Derivatives ¥ — ¥ 10,542 ¥ 6,589 ¥ 17,131 Investment in convertible notes — — 11,435 11,435 Investment in debt instruments — — 1,063 1,063 Financial assets associated with contingent consideration arrangements — — 23,806 23,806 Derivatives for which hedge accounting is applied — 62,522 — 62,522 Financial assets measured at fair value through OCI Trade and other receivables — 71,080 — 71,080 Equity instruments 74,495 — 83,236 157,731 Total ¥ 74,495 ¥ 144,144 ¥ 126,129 ¥ 344,769 Liabilities: Financial liabilities measured at fair value through profit or loss Derivatives ¥ — ¥ 8,672 ¥ 6,589 ¥ 15,261 Financial liabilities associated with contingent consideration arrangements — — 8,139 8,139 Derivatives for which hedge accounting is applied — 25,460 — 25,460 Total ¥ — ¥ 34,131 ¥ 14,728 ¥ 48,860 JPY (millions) As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Financial assets measured at fair value through profit or loss Derivatives ¥ — ¥ 8,511 ¥ 9,106 ¥ 17,617 Investment in convertible notes — — 13,459 13,459 Investment in debt instruments — — 1,113 1,113 Financial assets associated with contingent consideration arrangements — — 12,293 12,293 Derivatives for which hedge accounting is applied — 102,606 — 102,606 Financial assets measured at fair value through OCI Trade and other receivables — 83,734 — 83,734 Equity instruments 93,962 — 88,925 182,887 Total ¥ 93,962 ¥ 194,851 ¥ 124,896 ¥ 413,709 Liabilities: Financial liabilities measured at fair value through profit or loss Derivatives ¥ — ¥ 4,677 ¥ 9,106 ¥ 13,783 Financial liabilities associated with contingent consideration arrangements — — 7,772 7,772 Other — — 1,797 1,797 Derivatives for which hedge accounting is applied — 11,325 — 11,325 Total ¥ — ¥ 16,002 ¥ 18,675 ¥ 34,677 Valuation Techniques The fair value of derivatives classified as Level 2 is measured based on Treasury management system valuation models or the Black-Scholes model, whose significant inputs are based on observable market data. Derivatives classified as Level 3 include those recognized in connection with settlements of cash flows arising from differences between the fixed prices and floating market prices of renewable energy in a virtual power purchase agreement and those recognized in an agreement to offset the volatility of such cash flows. The fair value of derivatives in Level 3 is measured using the discounted cash flow method. The key assumptions taken into account include forecasted renewable energy prices and the expected generation of the renewable energy generating facility. The fair value of the investment in convertible notes is measured using techniques such as the discounted cash flow and option pricing models. The fair value of trade and other receivables, which are due from customers that Takeda has the option to factor, are measured based on the invoiced amount. Equity investments and investments in debt instruments are not held for trading. If equity instruments or investments in debt instruments are quoted in an active market, the fair value is based on price quotations at the period-end-date. If equity instruments or investments in debt instruments are not quoted in an active market, the fair value is calculated utilizing an adjusted book value per share method or EBITDA multiples approach based on available information as of each period-end-date and comparable companies. The principal input that is not observable and utilized for the calculation of the fair value of equity instruments and investments in debt instruments classified as Level 3 is the EBITDA rate used for the EBITDA multiples approach, which ranges from 5.2 times to 13.0 times. During the years ended March 31, 2023 and 2024, cumulative gains or losses on equity investments of JPY 6,935 million and JPY (1,224) million were reclassified from other comprehensive income to retained earnings, respectively, upon the disposal of certain equity investments in publicly traded companies. The fair value of these investments on the dates of disposal during the years ended March 31, 2023 and 2024 were JPY 21,800 million and JPY 6,458 million, respectively. The investments were disposed of after management’s assessment of these investments relative to the investment strategy. Financial assets and liabilities associated with contingent consideration arrangements are measured at fair value at the time of the divestiture or the acquisition date of business combination. When the contingent consideration arrangement meets the definition of a financial asset or liability, it is subsequently re-measured at fair value at each closing date. The determination of the fair value is based on models such as scenario-based methods and discounted cash flows. The key assumptions take into consideration the probability of meeting each performance target, forecasted revenue projections, and the discount factor. The financial assets associated with contingent consideration arrangements are recognized mainly in relation to the divestiture of XIIDRA. The financial liabilities associated with contingent consideration arrangements are discussed in Financial liabilities associated with contingent consideration arrangements . The fair value of the other financial liabilities is measured using the discounted cash flow model. Transfers between levels Takeda recognizes transfers between levels of the fair value hierarchy, at the end of the reporting period during which the change has occurred. There were transfers from Level 3 to Level 1 recorded in the years ended March 31, 2023 and 2024. These transfers resulted from the investments in the companies whose shares were previously not listed on an equity or stock exchange and had no recent observable active trades in the shares. During the years ended March 31, 2023 and 2024, the companies listed its equity shares on an exchange and are currently actively traded in the market. As the equity shares have a published price quotation in an active market, the fair value measurement was transferred from Level 3 to Level 1 on the fair value hierarchy during the years ended March 31, 2023 and 2024, respectively. There were no other significant transfers between levels of the fair value hierarchy during the years ended March 31, 2023 and 2024. Level 3 financial assets fair values Takeda invests in equity instruments mainly for research collaboration. The following table shows a reconciliation from the opening balances to the closing balances for Level 3 financial asset fair values for the years ended March 31, 2023 and 2024. The disclosure related to Level 3 financial liabilities which are financial liabilities associated with contingent consideration arrangements are included in Financial liabilities associated with contingent consideration arrangements. There are no significant changes in fair value during the changes in certain assumptions which influence the fair value measurement for Level 3 financial assets. JPY (millions) 2023 2024 Financial assets associated with contingent consideration arrangements Equity instruments Financial assets associated with contingent consideration arrangements Equity instruments As of the beginning of the year ¥ 26,852 ¥ 64,263 ¥ 23,806 ¥ 83,236 Changes recognized as finance income (expenses) 1,905 — (702) — Changes in fair value of financial assets associated with contingent consideration due to other elements than time value (3,412) — (12,415) — Changes in fair value of financial assets measured at fair value through OCI and exchange differences on translation of foreign operations 2,182 8,244 1,604 4,900 Settled and received during the period (3,722) — — — Purchases — 8,527 — 1,760 Sales — (22) — (217) Transfers to Level 1 — (1,711) — (5,008) Acquisition from conversion of convertible notes — 1,368 — 4,254 Transfers from investments accounted for using the equity method — 3,404 — — Transfers to investments accounted for using the equity method — (837) — — As of the end of the year ¥ 23,806 ¥ 83,236 ¥ 12,293 ¥ 88,925 Financial liabilities associated with contingent consideration arrangements Financial liabilities associated with contingent consideration arrangements represent consideration related to business combinations or license agreements that are payable only upon future events such as the achievement of development milestones and sales targets, including pre-existing contingent consideration arrangements of the companies that are acquired by Takeda. At each reporting date, the fair value of financial liabilities associated with contingent consideration arrangements is re-measured based on risk-adjusted future cash flows discounted using an appropriate discount rate. As of March 31, 2023 and 2024, the balance primarily relates to pre-existing contingent consideration arrangements from historical acquisitions. The fair value of financial liabilities associated with contingent consideration arrangements could increase or decrease due to changes in certain assumptions which underpin the fair value measurements. The assumptions include probability of milestones being achieved. The fair value of financial liabilities associated with contingent consideration arrangements are classified as Level 3 in the fair value hierarchy. The following table shows a reconciliation from the opening balances to the closing balances and payment term for financial liabilities associated with contingent consideration arrangements for the years ended March 31, 2023 and 2024, respectively. There are no significant changes in fair value during the changes in significant assumptions which influence the fair value measurement for financial liabilities associated with contingent consideration arrangements. JPY (millions) 2023 2024 As of the beginning of the year ¥ 5,844 ¥ 8,139 Changes in the fair value during the period 2,605 8,678 Settled and paid during the period (728) (9,032) Foreign currency translation differences 418 (13) As of the end of the year ¥ 8,139 ¥ 7,772 JPY (millions) 2023 2024 Payment term (undiscounted) Within one year ¥ 918 ¥ 2,207 Between one and three years 4,537 3,698 Between three and five years 2,980 1,855 More than five years 1,031 1,171 Financial instruments not measured at fair value The carrying amount and fair value of financial instruments that are not measured at fair value in the consolidated statements of financial position are as follows. Fair value information is not provided for financial instruments, if the carrying amount is a reasonable estimate of fair value due to the relatively short period of maturity of these instruments. JPY (millions) 2023 2024 Carrying amount Fair value Carrying amount Fair value Bonds ¥ 3,618,314 ¥ 3,291,147 ¥ 3,775,879 ¥ 3,420,668 Long-term loans 723,772 721,419 750,622 746,831 Long-term financial liabilities are recognized at their carrying amount. The fair value of bonds is measured at quotes whose significant inputs to the valuation model used are based on observable market data. The fair value of loans is measured at the present value of future cash flows discounted using the applicable market rate on the loans in consideration of the credit risk by each group classified in a specified period. The fair value of bonds and long-term loans are classified as Level 2 in the fair value hierarchy. Market Risk Major market risks to which Takeda is exposed are 1) foreign currency risk, 2) interest rate risk and 3) price fluctuation risk. Financial instruments affected by market risk include loans and borrowings, deposits, equity investments and derivative financial instruments. Foreign Currency Risk Takeda’s exposure to foreign exchange rates primarily relates to its foreign currency denominated operations and Takeda’s net investments in foreign subsidiaries. Takeda manages foreign currency risks in a centralized manner using derivative financial instruments. Takeda’s policy does not permit the use of speculative foreign currency financial instruments or derivatives. Takeda uses forward exchange contracts, currency swaps, and currency options to hedge individually significant foreign currency transactions. Takeda has also designated loans and bonds denominated in the US dollar and Euro and certain forward exchange contracts as hedging instruments of net investments in foreign operations. As of March 31, 2023 and 2024, the total fair value of the foreign currency denominated loans was JPY 200,491 million and JPY 227,309 million, respectively, and the total fair value of the foreign currency denominated bonds was JPY 2,548,795 million and JPY 2,679,660 million, respectively. Takeda is exposed mainly to foreign currency risks of the US dollar and Euro. The fair values of Takeda’s financial instrument holdings are analyzed to determine their sensitivity to changes in foreign exchange rates. Our analysis shows that if the JPY were to change against all other currencies by 5%, as of March 31, 2023 and 2024, the hypothetical impact on net income would not be material. This analysis assumes that all other variables, in particular interest rates, remain constant and that a change in one currency’s rate relative to the JPY would not have any effect on another currency’s rate relative to the JPY. In addition, this analysis does not include the effects of foreign currency translation on financial instruments that are denominated in the functional currency of the entity holding them. JPY (millions) As of March 31, 2023 Contract amount Contract amount to be settled in more than one year Fair value Forward exchange contracts: Selling: Euro ¥ 975,368 ¥ — ¥ (4,799) United States Dollar 179,942 — (341) Buying: Euro 1,056,070 — 31 Currency swaps: Buying: United States Dollar 717,114 717,114 41,044 JPY (millions) As of March 31, 2024 Contract amount Contract amount to be settled in more than one year Fair value Forward exchange contracts: Selling: Euro ¥ 710,301 ¥ — ¥ (9,663) United States Dollar 170,364 — (2,618) Buying: Euro 336,271 — 6,268 Currency swaps: Buying: United States Dollar 874,974 874,974 95,368 The above currency swaps, designated as hedging instruments in a cash flow hedge, were related to foreign currency denominated bonds and loans. The cash flow hedge reserve related to the currency swaps were reclassified to profit or loss in the same period as the hedged expected future cash flows occur. Interest Rate Risk Takeda’s exposure to the risk of changes in benchmark interest rates and foreign exchange rate relates to the outstanding debts with floating interest rates as well as the trade and other receivables due from customers that Takeda has the option to factor. Takeda uses interest rate swaps, forward interest rate contracts, and cross currency interest rate swaps that fix the amount of future payments to manage interest and foreign exchange rate risks through cash flow hedge strategies. Takeda may also use derivatives that effectively convert its fixed rate debt to floating through fair-value hedge strategies. The following summarizes interest rate swaps, forward interest rate contracts, and cross currency interest rate swaps designated as cash flow hedges as of March 31: JPY (millions) As of March 31 Contract amount Contract amount to be settled in more than one year Fair value 2023 ¥ 1,098,862 ¥ 1,048,862 ¥ 44,042 2024 1,322,069 1,052,069 101,128 The fair values of Takeda’s financial instrument holdings are analyzed to determine their sensitivity to interest rate changes. Our analysis shows that if there were a 1% change in interest rates, as of March 31, 2023 and 2024, the hypothetical impact on net income would not be material. This analysis assumes that all other variables, in particular foreign currency exchange rates, remain constant. Price Fluctuation Risk Management Commodity Price Risk For its business operations, Takeda is exposed to risks from commodity price fluctuations. Takeda manages this risk primarily by utilizing fixed price contracts but may also use financial instruments to lock in a fixed price. Market Price Risk Market pricing and valuations of Takeda’s fixed-income financial assets and liabilities are impacted by changes in currency rates, interest rates and credit spreads, which are managed as described above. For equity instruments, Takeda manages the risk of price fluctuations in the instruments by regularly reviewing share prices and financial positions of the issuers. Our analysis shows that if the market price of equity instruments held by Takeda and investments in trusts which hold equity instruments on behalf of Takeda had changed by 10%, as of March 31, 2023 and 2024, the hypothetical impact on other comprehensive income would not be material. This analysis assumes that all other variables, in particular interest rates and foreign currency exchange rates, remain constant. There is no impact on net income because the changes in the fair value of equity instruments are recognized directly in equity. Derivative Financial Instruments As described above, Takeda is exposed to effects related to foreign exchange fluctuations in connection with our international business activities that are denominated in various currencies and Takeda’s overseas entities that have different functional currencies. Takeda is also exposed to currency and interest rate fluctuations on our borrowings that we use to finance our business operations and our acquisitions. In addition, Takeda is exposed to interest rate fluctuations on the trade and other receivables due from customers that Takeda has the option to factor. These are denominated in various currencies and may bear interest at variable rates, resulting in the risk related to the currency and interest rate movements. In order to manage the risk of currency exchange rate and interest rate fluctuations, Takeda may enter into derivative contracts with highly rated financial institutions. Takeda enters into derivative contracts based on our risk management policies, which determine the authority for entering into such transactions and the transaction limits. The policy, which has been consistently followed, is that financial derivatives be used only for hedging foreign currency and interest rate exposure and not for speculative purposes. Takeda generally designates its derivatives as hedges for accounting purposes. In certain instances, Takeda enters into derivative contracts (“balance sheet hedges”) that do not qualify for hedge accounting but are nevertheless utilized to manage the underlying foreign currency exposure risk. Balance sheet hedges are used to offset the foreign currency impact from assets and liabilities on Takeda balance sheet that are denominated in non-functional currencies. Given these foreign currency derivatives work on an offset basis they do not require hedge accounting. Takeda has established guidelines for risk assessment procedures and controls for the use of financial instruments. These guidelines include a clear segregation of duties between execution and administration, and then again between accounting and controlling. Summary of Financial Position and Financial Performance for Derivative and Hedging Activities The following tables represent the items designated as hedging instruments, amounts within other components of equity related to items designated as hedged items and amounts of changes in fair value of hedging instruments recorded in other comprehensive income and the amounts reclassified from the hedging reserve to profit or loss as of and for the year ended March 31, 2023: JPY (millions) As of March 31, 2023 Notional Carrying amount – assets Carrying amount – liabilities Line item in the statement of financial position where hedging instrument is included Average rate used for the fair value of the hedging instrument Cash flow hedges Interest risk Interest rate swaps USD 575 million ¥ 5,148 ¥ — Other financial assets 2.83 % JPY 75,000 million — 50 Other financial liabilities 0.56 % Forward interest rate JPY 230,000 million — 2,100 Other financial liabilities 0.54 % Currency and interest risk Currency and interest rate swaps USD 6,675 million 55,223 14,179 Other financial assets /liabilities 107.43 JPY 1.85% Net investment hedges Foreign currency denominated bonds and loans USD 4,086 million — 545,327 Bonds and loans EUR 6,591 million — 957,993 Bonds and loans Forward exchange contracts USD 1,368 million 728 1,069 Other financial assets /liabilities EUR 4,384 million 1,424 8,062 Other financial assets /liabilities JPY (millions) As of March 31, 2023 Balance in cash flow hedges and net investment hedges Balance in hedge cost reserve Cash flow hedges Interest risk Interest rate swaps ¥ 2,948 ¥ — Forward interest rate (21,182) — Currency and interest risk Currency and interest rate swaps (72,678) (23,127) Currency risk Hedge related to acquisition 3,560 — Net investment hedges Foreign currency denominated bonds and loans 188,343 — Forward exchange contracts 80,584 — JPY (millions) For the year ended March 31, 2023 Amounts recognized in OCI Amount reclassified to profit or loss Change in fair value of hedging instruments Hedging costs Cash flow hedge Hedging costs Line item in which reclassification adjustment is included Cash flow hedges Interest risk Interest rate swaps ¥ 3,993 ¥ — ¥ (360) ¥ — Finance income Forward interest rate (2,123) — 2,312 — Finance expenses Currency and interest risk Currency and interest rate swaps 54,566 (21,426) (89,289) (3,052) Finance income and Finance expenses Net investment hedges Foreign currency denominated bonds and loans 142,456 — — — Forward exchange contracts 25,806 — — — The following tables represent the items designated as hedging instruments, amounts within other components of equity related to items designated as hedged items and amounts of changes in fair value of hedging instruments recorded in other comprehensive income and the amounts reclassified from the hedging reserve to profit or loss as of and for the year ended March 31, 2024: JPY (millions) As of March 31, 2024 Notional Carrying amount – assets Carrying amount – liabilities Line item in the statement of financial position where hedging instrument is included Average rate used for the fair value of the hedging instrument Cash flow hedges Interest risk Interest rate swaps USD 575 million ¥ 7,172 ¥ — Other financial assets 2.83 % JPY 90,000 million 33 0 Other financial assets /liabilities 0.57 % Forward interest rate JPY 270,000 million 34 1,477 Other financial assets /liabilities 0.53 % Currency and interest risk Currency and interest rate swaps USD 6,675 million 95,368 — Other financial assets 131.08 JPY (0.09)% Net investment hedges Foreign currency denominated bonds and loans USD 3,581 million — 542,399 Bonds and loans EUR 6,628 million — 1,081,796 Bonds and loans Forward exchange contracts USD 1,168 million — 2,618 Other financial liabilities EUR 1,000 million — 7,229 Other financial liabilities JPY (millions) As of March 31, 2024 Balance in cash flow hedges and net investment hedges Balance in hedge cost reserve Cash flow hedges Interest risk Interest rate swaps ¥ 4,063 ¥ — Forward interest rate (19,283) — Currency and interest risk Currency and interest rate swaps (52,236) (15,930) Currency risk Hedge related to acquisition 3,560 — Net investment hedges Foreign currency denominated bonds and loans 344,866 — Forward exchange contracts 189,796 — JPY (millions) For the year ended March 31, 2024 Amounts recognized in OCI Amount reclassified to profit or loss Change in fair value of hedging instruments Hedging costs Cash flow hedge Hedging costs Line item in which reclassification adjustment is included Cash flow hedges Interest risk Interest rate swaps ¥ 4,098 ¥ — ¥ (2,492) ¥ — Finance income Forward interest rate 387 — 2,349 — Finance expenses Currency and interest risk Currency and interest rate swaps 166,574 12,392 (137,122) (2,024) Finance income and Finance expenses Net investment hedges Foreign currency denominated bonds and loans 169,111 — — — Forward exchange contracts 109,212 — — — The amount relating to the ineffectiveness recorded in profit or loss was immaterial for the years ended March 31, 2023 and 2024. The amount of hedging gains/losses recorded in other comprehensive income and reclassified to profit or loss as hedged future cash flows were no longer expected to occur was not material for the years ended March 31, 2023 and 2024. Capital Management The capital structure of Takeda consists of shareholders’ equity (Note 26), bonds and loans (Note 20), and cash and cash equivalents (Note 18). The fundamental principles of Takeda’s capital risk management are to build and maintain a steady financial base for the purpose of maintaining soundness and efficiency of operations and achieving sustainable growth. According to these principles, Takeda conducts capital investment, profit distribution such as dividends, and repayment of loans based on steady operating cash flows through the development and sale of competitive products. Takeda utilizes factoring arrangements for selected trade receivables. Under these programs, trade receivables sold are derecognized when the risks and rewards of ownership have been transferred. Amounts due from customers that are subject to the factoring arrangements but have not been factored at fiscal year end are disclosed in Note 17. Takeda balances and monitors its capital structure between debt and equity and adheres to a conservative financial discipline. Credit Risk Takeda is exposed to credit risk from its operating activities (primarily trade receivables) and from its financing activities, including deposits with banks and financial institutions, foreign exchange transactions, and other financial instruments. The maximum exposure to credit risk, without taking into account any collateral held at the end of the reporting period, is represented by the carrying amount of the financial instruments which is exposed to credit risk on the consolidated statements of financial position. Takeda regularly monitors the status of credit risk exposure with banks and financial institutions. Customer Credit Risk Trade and other receivables are exposed to customer credit risk. Takeda monitors the status of overdue balances, reviews outstanding balances for each customer and regularly examines the credibility of major customers in accordance with Takeda’s policies for credit management to facilitate the early evaluation and the reduction of potential credit risks. In parallel, Takeda utilizes programs to sell certain trade and other receivables due from certain customers to a select group of banks on a non-recourse basis which in turn minimizes the credit risk associated with such customers. If necessary, Takeda obtains rights to collateral or guarantees on the receivables. The following represents the carrying amount of the trade receivables categorized by due date and the analysis of impairment loss allowance as of March 31, 2023 and 2024: JPY (millions) except for percentage As of March 31, 2023 Amount past due Current Within 30 Over 30 days but within 60 days Over 60 days but within 90 days Over 90 days but within one year Over one Total Gross carrying amount ¥ 499,795 ¥ 23,676 ¥ 14,999 ¥ 8,975 ¥ 19,912 ¥ 15,430 ¥ 582,787 Impairment loss allowance (2,219) (66) (66) (33) (694) (4,278) (7,356) Net carrying amount 497,576 23,610 14,933 8,942 19,218 11,152 575,431 Weighted average loss rate (%) 0.4 % 0.3 % 0.4 % 0.4 % 3.5 % 27.7 % 1.3 % JPY (millions) except for percentage As of March 31, 2024 Amount past due Current Within 30 Over 30 days but within 60 days Over 60 days but within 90 days Over 90 days but within one year Over one Total Gross carrying amount ¥ 527,383 ¥ 34,960 ¥ 12,645 ¥ 3,956 ¥ 21,492 ¥ 20,379 ¥ 620,815 Impairment loss allowance (2,482) (107) (143) (99) (450) (5,095) (8,376) Net carrying amount 524,901 34,853 12,502 3,857 21,042 15,284 612,439 Weighted average loss rate (%) 0.5 % 0.3 % 1.1 % 2.5 % 2.1 % 25.0 % 1.3 % Management believes that the unimpaired amounts that are past due are still collectible in full, based on historical payment behavior and extensive analysis of customer credit risk. As of March 31, 2023 and 2024, Takeda has provided loss allowance on trade receivables and other receivables not past due based on an analysis of credit histories. Loss allowance for trade receivables are measured based on expected credit losses on a coll |
Share-based Payments
Share-based Payments | 12 Months Ended |
Mar. 31, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Share-based Payments | Share-based Payments Takeda maintains share-based compensation payment plans for the benefit of its directors and certain employees of the Company and its subsidiaries and affiliates worldwide. Takeda recorded total compensation expense related to its share-based payment plans of JPY 43,730 million, JPY 61,024 million, and JPY 71,510 million for the years ended March 31, 2022, 2023 and 2024, respectively, in its consolidated statements of profit or loss. Equity-settled Plans Stock Options Takeda previously provided a stock option plan under which it granted awards to members of Takeda’s board of directors (the “Board”) and senior management through the year ended March 31, 2014. There were no stock options granted for the years ended March 31, 2023 and 2024 and all previously granted awards are fully vested. These awards generally vested three years after the grant date. The stock options are exercisable for 10 years after the grant date for options held by members of the Board and 20 years for options held by senior management. The individual must be either a Board member or an employee of the Company or one of its subsidiaries or affiliates to exercise the options, unless the individual retired due to the expiration of their term of office, mandatory retirement or other acceptable reasons. There was no compensation expense recorded during the years ended March 31, 2022, 2023 and 2024 as all awards were fully vested. The following table summarizes the stock option activity: For the Year Ended March 31 2022 2023 2024 Number of options (shares) Weighted average exercise price (JPY) Number of options (shares) Weighted average exercise price (JPY) Number of options (shares) Weighted average exercise price (JPY) As of beginning of the year 3,357,200 ¥ 4,082 3,347,100 ¥ 4,094 3,303,600 ¥ 4,111 Exercised (10,100) 1 (43,500) 2,802 (122,700) 3,464 As of end of the year 3,347,100 4,094 3,303,600 4,111 3,180,900 4,136 All of the stock options were exercisable as of March 31, 2022, 2023 and 2024. The weighted-average share price at the date of exercise was JPY 3,815, JPY 3,852 and JPY 4,540 during the years ended March 31, 2022, 2023 and 2024, respectively. The weighted-average exercise price and weighted-average remaining contractual life of the share options outstanding were JPY 4,094 and 10 years, JPY 4,111 and 9 years, and JPY 4,136 and 8 years, as of March 31, 2022, 2023 and 2024, respectively. Stock Incentive Plans Takeda has the following 3 stock-based incentive compensation plans for its directors and eligible employees including members of senior management: Board incentive plan (“BIP”) Trust -The BIP Trust is an incentive plan for board directors designed based on Restricted Stock Units and Performance Share Units, whereby Restricted Stock Unit awards and Performance Share Unit awards are granted to board directors. Each award is settled in a single share of the Company’s common stock. Under the BIP, Restricted Stock Unit awards are subject to certain service-based conditions and vest ratably over three years. Performance Share Unit awards are granted to internal directors and are subject to certain service-based conditions and also subject to the achievement of certain performance metrics that are intended to align with Takeda’s strategic focus and long-term growth. Performance Share Unit awards vest three years from the date of grant. For purposes of the Performance Share Unit awards, the performance metrics may include top line revenues, cash flow, indicators on profit, R&D metrics and other performance factors over a three-year performance period. The settlement value of the awards is based on stock price and subject to, among other things, applicable tax withholding, foreign exchange rates (in countries other than Japan) and the value of company dividends during the vesting period. Takeda, through a wholly owned trust, buys shares of the Company’s common stock in the market on the grant date, and uses these shares to settle the awards upon vesting. The number of shares the individual receives (either through physical settlement or cash) is based on the achievement of the performance criteria and vesting of the award. The trust settles the awards through the issuance of shares to individuals residing in Japan. For individuals residing outside of Japan, the trust sells the shares the individual is eligible to receive and pays cash to the individual in settlement of the award. Employee Stock Ownership Plan (“ESOP”) Trust - The ESOP Trust is an employee incentive plan designed based on Restricted Stock Units and Performance Share Units, whereby Restricted Stock Unit awards and Performance Share Unit awards are granted to certain employees, including members of senior management of the Company. Each award is settled in a single share of the Company's common stock. Restricted Stock Unit awards and Performance Share Unit awards are granted to certain members of senior management while Restricted Stock Unit awards are granted to the remainder of employees. Restricted Stock Unit awards are subject to certain service-based conditions and vest ratably over three years. Performance Share Unit awards are subject to certain service-based conditions and also subject to the achievement of certain performance metrics that are intended to align with Takeda’s strategic focus and long-term growth. Performance Share Unit awards vest three years from the date of grant. For purposes of the Performance Share Unit awards, the performance metrics may include top line revenues, cash flow, indicators on profit, R&D metrics and other performance factors over a three-year performance period. The settlement value of the awards is based on stock price and subject to, among other things, applicable tax withholding and the value of company dividends during the vesting period. Takeda, through a wholly owned trust, buys shares of the Company's common stock in the market or issues shares the Company's common stock on the grant date and uses these shares to settle the awards upon vesting. The number of shares the individual receives is based on the achievement of the performance criteria and vesting of the award. The trust settles the awards through the issuance of shares to individuals residing in Japan. For individuals residing outside of Japan, the trust sells the shares the individual is eligible to receive and pays cash to the individual in settlement of the award. Long-Term Incentive Plan for Company Group Employees residing outside of Japan (“LTIP”) - The LTIP was approved by the Board on June 24, 2020 and is an incentive plan that provides for the grant of awards to eligible employees, including members of senior management of the Company and its subsidiaries and affiliates outside of Japan. The LTIP provides for the grant of Restricted Stock Units and Performance Stock Units, as well other equity based awards. Grants under the LTIP may be settled in American Depositary Shares (“ADSs”) or cash, or a combination thereof. Takeda first granted awards under the LTIP on July 1, 2020 in the form of Restricted Stock Unit awards and Performance Stock Unit awards, and no other forms of awards have been granted under the LTIP to date. Restricted Stock Unit awards are subject to certain service-based conditions and vest ratably over three years. Performance Stock Unit awards are subject to certain service-based conditions and also subject to the achievement of certain performance metrics that are intended to align with Takeda’s strategic focus and long-term growth. Performance Stock Unit awards vest three years from the date of grant. For purposes of the Performance Stock Unit awards, the performance metrics may include top line revenues, cash flow, indicators on profit, R&D metrics and other performance factors over a three-year performance period. The value of such awards when such awards are to be settled in ADSs is based on the fair market value of the shares of the Company's common stock converted into ADSs, subject to, among other things, applicable tax withholding, foreign exchange rates and the value of company dividends during the vesting period. Restricted Stock Unit awards and Performance Stock Unit awards granted under the LTIP are to be settled in ADSs to award recipients residing and employed in countries outside of Japan where settlement in ADSs is permitted by local law and regulation. In countries outside of Japan where such form of settlement is not permissible due to legal, regulatory and/or administrative reasons, Restricted Stock Unit awards and Performance Stock Unit awards are structured such that settlement is to be made in cash and accounted as a “Cash-Settled LTIP Award” (please refer to Cash-Settled LTIP Awards). The total compensation expense recognized related to these plans was JPY 43,374 million, JPY 60,672 million and JPY 70,871 million during the years ended March 31, 2022, 2023 and 2024, respectively. The weighted average fair value of the awards at the grant date is as follows (in JPY): For the Year Ended March 31 2022 2023 2024 BIP: Weighted average fair value at grant date ¥ 3,738 ¥ 3,759 ¥ 4,527 ESOP: Weighted average fair value at grant date 3,738 3,759 4,527 Equity-Settled LTIP: Weighted average fair value at grant date 1,877 (USD16.90 in contractual currency) 1,909 (USD14.09 in contractual currency) 2,273 (USD15.71 in contractual currency) The grant date fair value for BIP and ESOP was calculated using the share price of the Company's common stock on the grant date while the grant date fair value for LTIP was calculated using the share price of ADS as it was determined to be approximately the same as the fair value of the awards. One ADS equals 0.5 of the Company's common stock. The following table summarizes the award activity related to the BIP (the number of awards) (1 award represents 1 share of the Company's common stock), ESOP (the number of awards) (1 award represents 1 share of the Company's common stock) and Equity-settled LTIP (the number of awards) (1 award represents 1 share of the ADS). One ADS equals 0.5 of the Company's common stock: For the Year Ended March 31 2022 2023 2024 BIP ESOP Equity-Settled LTIP BIP ESOP Equity-Settled LTIP BIP ESOP Equity-Settled LTIP At beginning of the year 1,035,843 7,751,952 23,412,994 1,216,361 3,372,452 40,861,734 1,311,989 773,844 59,752,598 Granted 536,121 534,437 29,211,506 544,491 450,340 38,897,622 338,189 363,559 36,531,621 Forfeited/expired before vesting — (552,490) (4,270,590) (13,554) (96,015) (4,682,948) — (39,545) (4,747,804) Vested (355,603) (4,361,447) (7,466,212) (435,309) (2,949,200) (15,237,880) (450,206) (351,096) (25,916,216) Transfer to Cash-Settled LTIP — — (25,964) — — (85,930) — — (209,715) Transfer to Cash-Settled RSU — — — — (3,733) — — — — At end of the year 1,216,361 3,372,452 40,861,734 1,311,989 773,844 59,752,598 1,199,972 746,762 65,410,484 The balance as of March 31, 2022, 2023, and 2024, each represents unvested awards. The weighted average remaining contractual life of the outstanding awards was one year for the BIP as of March 31, 2023 and 2024, one year for the ESOP as of March 31, 2023 and 2024, and one year for the Equity-Settled LTIP plans as of March 31, 2023 and 2024. Cash-Settled Awards Takeda previously provided a phantom stock appreciation rights (“PSARs”) plan through the year ended March 31, 2014, and a restricted stock units (“RSUs”) plan through the year ended March 31, 2021 for certain employees of subsidiaries of the Company. The value of these awards is linked to share price of the Company and are settled in cash. Moreover, where settlement of awards granted under the LTIP described under “—Equity Settled Plans” above in ADSs or shares of common stock is not permissible due to legal, regulatory and/or administrative reasons, such awards are settled in cash. The total compensation expense recorded associated with these plans was JPY 356 million, JPY 352 million and JPY 639 million during the years ended March 31, 2022, 2023 and 2024, respectively. The total liability reflected in the consolidated statements of financial position as of March 31, 2022, 2023 and 2024 is JPY 1,583 million, JPY 1,026 million and JPY 1,018 million, respectively. Phantom stock appreciation rights (“PSARs”) The PSARs vest one third each year over a three-year period from the end of the fiscal year during which the awards were granted and can be exercised for a period of ten years from the end of the fiscal year during which the awards were granted. The awards are settled through a cash payment to the holder based on the difference between the share price of the Company at the date of exercise, and the share price at the date of grant. The following table summarizes the award activity related to the PSARs (the number of awards) (1 award represents 1 share of the Company's common stock) : For the Year Ended March 31 2022 2023 2024 Number of PSARs Weighted average exercise price Number of PSARs Weighted average exercise price Number of PSARs Weighted average exercise price As of beginning of the year 2,270,439 ¥ 4,997 1,471,095 ¥ 5,481 217,530 ¥ 5,956 Forfeited/expired after vesting (799,344) 5,134 (1,253,565) 6,054 (217,530) 6,428 As of end of the year 1,471,095 5,481 217,530 5,956 — — All PSARs were vested and expired as of March 31, 2024. There was no intrinsic value of vested cash-settled share-based payments as of March 31, 2022 and 2023. Restricted stock units (RSUs) The RSUs vest one third each year over a three-year period from the end of the fiscal year during which the awards were granted. The RSUs are settled upon vesting based on the share price at the vesting date plus any dividends paid on shares during the vesting period. There is no exercise price payable by the holder. The following table summarizes the award activity related to the RSUs (the number of awards) (1 award represents 1 share of the Company’s common stock): For the Year Ended March 31 2022 2023 2024 As of the beginning of the year 778,451 317,734 — Forfeited/expired before vesting (62,649) (8,208) — Vested (398,068) (313,259) — Transfer from Equity-Settled ESOP — 3,733 — As of the end of the year 317,734 — — There are no unvested balance as of March 31, 2024. Cash-Settled LTIP Awards As noted above, for purposes of restricted stock unit awards and performance stock units granted under the LTIP in countries where settlement in ADSs is not permissible due to legal, regulatory and/or administrative reasons, such grants are structured such that settlement is to be made in cash and accounted for as Cash-Settled LTIP Awards. The following table summarizes the award activity related to the Cash-Settled LTIP Awards (the number of awards) (1 award represents 1 ADS): For the Year Ended March 31 2022 2023 2024 As of the beginning of the year 262,994 296,640 367,642 Granted 153,604 213,224 197,798 Forfeited/expired before vesting (25,682) (30,372) (38,245) Vested (120,240) (197,780) (341,148) Transfer from Equity-Settled LTIP 25,964 85,930 209,715 As of the end of the year 296,640 367,642 395,762 |
Subsidiaries and Associates
Subsidiaries and Associates | 12 Months Ended |
Mar. 31, 2024 | |
Interests In Other Entities [Abstract] | |
Subsidiaries and Associates | Subsidiaries and Associates The number of consolidated subsidiaries decreased by 11 in the year ended March 31, 2024, primarily due to liquidations to reorganize capital in subsidiaries. The number of associates accounted for using the equity method decreased by 1 primarily due to a change of ownership ratio. The following is a listing of the Company’s consolidated subsidiaries (including partnerships): 169 subsidiaries as of March 31, 2024 Company name Country Ownership of Voting Rights (%) Takeda Argentina S.A. Argentina 100.0% Takeda Austria GmbH Austria 100.0% Takeda Manufacturing Austria AG Austria 100.0% Baxalta Innovations GmbH Austria 100.0% Takeda Distribuidora Ltda. Brazil 100.0% Takeda Pharma Ltda. Brazil 100.0% Takeda Canada Inc. Canada 100.0% Takeda APAC Biopharmaceutical Research and Development Co., Ltd. China 100.0% Takeda (China) Holdings Co., Ltd. China 100.0% Takeda (China) International Trading Co., Ltd. China 100.0% Tianjin Takeda Pharmaceuticals Co., Ltd China 100.0% Takeda France S.A.S. France 100.0% Takeda GmbH Germany 100.0% Takeda Ireland Limited Ireland 100.0% Shire Pharmaceuticals International Unlimited Company Ireland 100.0% Shire Acquisitions Investments Ireland Designated Activity Company Ireland 100.0% Shire Ireland Finance Trading Limited Ireland 100.0% Takeda Italia S.p.A. Italy 100.0% Takeda Pharmaceuticals Korea Co., Ltd. Korea 100.0% Takeda Mexico S.A.de C.V. Mexico 100.0% Takeda Nederland B.V. Netherlands 100.0% Takeda Pharmaceuticals Limited Liability Company Russia 100.0% Takeda Development Center Asia, Pte. Ltd. Singapore 100.0% Takeda Manufacturing Singapore Pte. Ltd. Singapore 100.0% Takeda Farmaceutica Espana S.A. Spain 100.0% Takeda Pharma AB Sweden 100.0% Takeda Pharmaceuticals International AG Switzerland 100.0% Baxalta Manufacturing S.à r.l. Switzerland 100.0% Takeda Pharma AG Switzerland 100.0% Takeda UK Limited United Kingdom 100.0% Takeda Pharmaceuticals U.S.A., Inc. U.S. 100.0% ARIAD Pharmaceuticals, Inc. U.S. 100.0% Takeda Vaccines, Inc. U.S. 100.0% Takeda Development Center Americas, Inc. U.S. 100.0% Baxalta Incorporated U.S. 100.0% Dyax Corp. U.S. 100.0% Takeda Ventures, Inc. U.S. 100.0% Baxalta US Inc. U.S. 100.0% Company name Country Ownership of Voting Rights (%) Shire Human Genetic Therapies, Inc. U.S. 100.0% BioLife Plasma Services LP U.S. 100.0% Takeda Manufacturing U.S.A., Inc. U.S. 100.0% Other 128 subsidiaries |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Mar. 31, 2024 | |
Related party transactions [abstract] | |
Related Party Transactions | Related Party Transactions Compensation for Key Management Personnel Key management personnel are defined as members of the Board. The compensation for key management personnel is as follows: JPY (millions) 2022 2023 2024 Basic compensation and bonuses ¥ 1,614 ¥ 1,640 ¥ 1,839 Share-based compensation (expensed amount) 2,547 2,403 2,749 Other 38 43 85 Total ¥ 4,199 ¥ 4,085 ¥ 4,673 |
Business Combinations
Business Combinations | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of detailed information about business combination [abstract] | |
Business Combinations | Business Combinations Acquisitions during the Years ended March 31, 2022, 2023, and 2024 There was no material business combination during the years ended March 31, 2022, 2023, and 2024. |
Commitments and Contingent Liab
Commitments and Contingent Liabilities | 12 Months Ended |
Mar. 31, 2024 | |
Commitments And Contingencies Liabilities [Abstract] | |
Commitments and Contingent Liabilities | Commitments and Contingent Liabilities Purchase commitments The amount of contractual commitments for the acquisition of property, plant and equipment was JPY 31,083 million as of March 31, 2024. Milestone Payments As discussed in Note 13, Takeda has certain contractual agreements related to the acquisition of intangible assets that require it to make payments of up to JPY 1,331,364 million as of March 31, 2024. These commitments include development, regulatory approval and launch milestone payments in relation to R&D programs under development. The related commercial milestone payments were not included in the commitments given the payments were not deemed reasonably likely to occur. Litigation Takeda is involved in various legal and administrative proceedings. The most significant matters are described below. Takeda may become involved in significant legal proceedings for which it is not possible to make a reliable estimate of the expected financial effect, if any, which may result from ultimate resolution of the proceedings. In these cases, appropriate disclosures about such cases would be included in this note, but no provision would be made for the cases. With respect to each of the legal proceedings described below, other than those for which a provision has been made, Takeda is unable to make a reliable estimate of the expected financial effect at this stage. This is due to a number of factors, including, but not limited to, the stage of proceedings, the entitlement of parties to appeal a decision, if any, and lack of clarity as to the merits of theories of liability, the merits of Takeda’s defenses, the amount and recoverability of damages and/or governing law. Takeda does not believe that information about the amount sought by the plaintiffs, if that is known, is, by itself, meaningful in every instance with respect to the outcome of those legal proceedings. Legal expenses incurred and charges related to legal claims are recorded in selling, general and administrative expenses. Provisions are recorded, after taking appropriate legal and other specialist advice, where an outflow of resources is considered probable and a reliable estimate can be made of the likely outcome of the dispute. The factors Takeda considers in developing a provision include the merits and jurisdiction of the litigation, the nature and the number of other similar current and past litigation, the nature of the product and the current assessment of the science subject to the litigation, and the likelihood of settlement and current state of settlement discussions, if any. As of March 31, 2023 and 2024, Takeda’s aggregate provisions for legal and other disputes were JPY 64,290 million and JPY 22,342 million, respectively. The ultimate liability for legal claims may vary from the amounts provided and is dependent upon the outcome of litigation proceedings, investigations and possible settlement negotiations. Unless otherwise stated below, Takeda is unable to predict the outcome or duration of these matters at this time. Takeda’s position could change over time, and, therefore, there can be no assurance that any losses that result from the outcome of any legal proceedings will not exceed, by a material amount, the amount of the provisions reported in these consolidated financial statements. Matters that were previously disclosed may no longer be reported because, as a result of rulings in the case, settlements, changes in our business or other developments, in our judgment, they are no longer material to our financial condition or operating results. Product Liability and Related Claims Pre-clinical and clinical trials are conducted during the development of potential products to determine the safety and efficacy of products for use by humans following approval by regulatory bodies. Notwithstanding these efforts, when drugs and vaccines are introduced into the marketplace, unanticipated safety issues may become, or be claimed by some to be, evident. Takeda is currently a defendant in a number of product liability lawsuits related to its products. For the product liability lawsuits and related claims, other than those for which a provision has been made, Takeda is unable to make a reliable estimate of the expected financial effect at this stage. Takeda’s principal pending legal and other proceedings are disclosed below. The outcomes of these proceedings are not always predictable and can be affected by various factors. For those legal and other proceedings for which it is considered at least reasonably possible that a loss has been incurred, Takeda discloses the possible loss or range of possible loss in excess of the recorded loss contingency provision, if any, where such excess is both material and estimable. ACTOS Economic Loss Cases Takeda has been named in ACTOS-related lawsuits brought by plaintiffs who do not assert any claims for personal injuries. Instead plaintiffs claim they suffered an economic loss by paying for ACTOS prescriptions that allegedly would not have been written had Takeda provided additional information about the alleged risks of bladder cancer associated with ACTOS in its US product label. A putative class of third-party payors and consumers brought suit against Takeda in the U.S. District Court for the Central District of California. Proton Pump Inhibitor (“PPI”) Product Liability Claims As of March 31, 2024, more than 6,100 product liability lawsuits related to the use of PREVACID and DEXILANT have been filed against Takeda in U.S. federal and state courts. Most of these cases are pending in U.S. federal court and are consolidated for pre-trial proceedings in a multi-district litigation in federal court in New Jersey. The plaintiffs in these cases allege they developed kidney injuries or, in some cases, gastric cancer as a result of taking PREVACID and/or DEXILANT, and that Takeda failed to adequately warn them of these potential risks. Similar cases were filed against other manufacturers of drugs in the same PPI class as Takeda’s products, including AstraZeneca plc (“AstraZeneca”), Procter & Gamble Company (“Procter & Gamble”) and Pfizer Inc. (“Pfizer”). Outside the U.S., one proposed class action is pending in Canada (Saskatchewan). The defendants include Takeda, AstraZeneca, Janssen Pharmaceutical Companies (“Janssen”) and several generic manufacturers. In April 2024, Takeda has reached an agreement in principle to resolve the U.S. cases for a non-material amount. The settlement has no material impact on Takeda’s consolidated statements of profit or loss. Intellectual property Intellectual property claims include challenges to the validity and enforceability of Takeda’s patents on various products or processes as well as assertions of non-infringement of those patents. A loss in any of these cases could result in loss of patent protection for the product at issue. The consequences of any such loss could be a significant decrease in sales of that product and could materially affect future results of operations for Takeda. TRINTELLIX Takeda has received notices from sixteen generic pharmaceutical companies that they have submitted ANDAs with paragraph IV certifications seeking to sell generic versions of TRINTELLIX. Takeda filed patent infringement lawsuits against the ANDA filers in federal court in Delaware. Lawsuits against ten ANDA filers were resolved before trial. A trial took place from January 15 to January 28, 2021 with six ANDA filers, including Alembic Pharmaceuticals Limited and Alembic Pharmaceuticals, Inc., Lupin Limited and Lupin Pharmaceuticals, Inc. (“Lupin”), Macleods Pharmaceuticals Ltd., Sigmapharm Laboratories, LLC, Sandoz, Inc., and Zydus Pharmaceuticals (USA) Inc. and Cadila Healthcare Limited. The Court issued its decision on September 30, 2021 and found that US Patent 7,144,884, which covers vortioxetine (the active ingredient in Trintellix), is valid. For the rest of the asserted patent, only US Patent 9,101,626, which covers processes for synthesizing vortioxetine, was found to be infringed by Lupin. Other patents (including crystalline form and certain method of use patents) were found to be valid but not infringed by any of the defendants. Takeda filed a notice of appeal on November 24, 2021. Lupin filed a notice of appeal on November 29, 2021 and other defendants filed a notice of appeal on December 8, 2021. Oral argument at the Federal Circuit took place on September 8, 2023. On December 7, 2023, the Federal Circuit Court affirmed the district court decision that the method of use patents are valid but not infringed and the process patent is infringed by Lupin. Takeda did not appeal to the Supreme Court (petition for the Supreme Court to grant a writ of certiorari). Lupin did not appeal to the Supreme Court by the deadline of March 6, 2024. The impact of this decision was not material to Takeda’s consolidated statements of profit or loss. Other In addition to the individual cases described above, there are no other patent litigations that have a material impact on Takeda’s consolidated financial statements as of and for the year ended March 31, 2024. Sales, Marketing, and Regulation Takeda has other litigations related to its products and its activities, the most significant of which are describe below. ACTOS Antitrust Litigation In December 2013, the first of two antitrust class action lawsuits was filed against Takeda in the U.S. District Court for the Southern District of New York by a putative class of patients who were prescribed ACTOS. The second class action was filed against Takeda in the same court in April 2015 by a putative class of wholesalers that purchased ACTOS from Takeda. In both actions, plaintiffs allege, inter alia, that Takeda improperly characterized certain patents for ACTOS in the FDA Orange Book, which they claim imposed requirements on generic companies that filed Abbreviated New Drug Applications and, in turn, resulted in delayed market entry for generic forms of ACTOS. In October 2019, the District Court denied Takeda’s motion to dismiss. Takeda subsequently sought an interlocutory appeal of the District Court’s decision, which was denied. INTUNIV Antitrust Litigation In January 2017, an antitrust class action was filed against Shire plc, Shire LLC, and Shire U.S. Inc. (collectively, “Shire”) in the U.S. District Court for the District of Massachusetts. The plaintiffs, a putative class of wholesalers, allege that Shire’s settlement in 2013 of patent litigation claims against Actavis Elizabeth LLC related to its generic formulation of INTUNIV constituted an anticompetitive “reverse payment.” In June 2024, Takeda reached an agreement to resolve the matter on a class basis for an amount that is immaterial. The final settlement, once consummated, will be subject to court approval. The settlement has no material impact on Takeda’s consolidated statements of profit or loss. AMITIZA Antitrust Litigation In August 2021, an antitrust class action was filed against Takeda Pharmaceuticals U.S.A., Inc. (“Takeda”) in the U.S. District Court for the District of Massachusetts. The plaintiffs, a putative class of wholesalers, allege that a settlement that Takeda and Sucampo Pharmaceuticals, Inc. entered into in 2014 with Par Pharmaceutical, Inc. (“Par”) to resolve patent litigation claims related to Par’s generic formulation of AMITIZA were anticompetitive. In December 2023 and in January 2024, additional complaints were filed in the U.S. District Court for the District of Massachusetts by a health insurer plaintiff as well as by individual retail pharmacies plaintiffs. COLCRYS Antitrust Litigation In September 2021, an antitrust class action was filed against Takeda Pharmaceuticals U.S.A., Inc. (“Takeda”) in the U.S. District Court for the Eastern District of Pennsylvania. The plaintiffs, a putative class of wholesalers, allege that settlements that Takeda entered into in 2015 and 2016 to resolve patent litigation claims against several generic drug manufacturers related to generic formulations of COLCRYS were anticompetitive. In September 2023, Takeda reached an agreement in principle to resolve the antitrust matter for an amount that is immaterial, which was fully executed in December 2023. The settlement had no material impact on Takeda’s consolidated statements of profit or loss. In November 2023, a subsequent antitrust class action challenging the same settlements was filed in the U.S. District Court for the Southern District of New York by plaintiffs seeking to represent a putative class of end payors. AbbVie Supply Agreement Litigation In November 2020, AbbVie brought suit against Takeda Pharmaceutical Company Limited (“Takeda”) in Delaware Chancery Court alleging Takeda breached its agreement with AbbVie related to the supply of LUPRON in the U.S. due to shortages arising from quality issues the U.S. Food & Drug Administration identified concerning Takeda’s production facility in Hikari, Japan as part of a Form 483 issued in November 2019 and a Warning Letter issued in June 2020. In the litigation, AbbVie sought both preliminary injunctive relief and monetary damages. In September 2021, the court issued an order denying AbbVie’s request for injunctive relief. The court subsequently issued a decision finding Takeda in breach of the supply agreement. In September 2023, the court issued a decision regarding the quantification of AbbVie’s monetary damages and subsequently entered judgment in December 2023. In accordance with the judgment, Takeda paid USD 505 million, including interest, in March 2024 with a total financial impact of JPY 26,405 million loss in other operating expenses and JPY 7,141 million in finance expenses for the interest for the fiscal year ended March 31, 2024. Investigation of Patient Assistance Programs In November 2016, the U.S. Department of Justice (“DOJ”) (through the U.S. Attorneys’ Office in Boston) issued a subpoena to Ariad Pharmaceuticals, Inc. (“Ariad”), which was acquired by Takeda during the year ended March 31, 2017, seeking information from January 2010 to the present relating to Ariad’s donations to 501(c) (3) co-payment foundations, financial assistance programs, and free drug programs available to Medicare beneficiaries and the relationship between these co-payment foundations and specialty pharmacies, hubs or case management programs. Takeda is cooperating with the investigation. In June 2019, the DOJ (through the U.S. Attorney’s Office in Boston) issued a subpoena to Shire Pharmaceuticals LLC, which was acquired by Takeda during the year ended March 31, 2019 (through Takeda’s acquisition of Shire plc). The subpoena generally seeks information about Shire’s interactions with 501(c)(3) organizations that provide financial assistance to Medicare patients taking Shire drugs, including the hereditary angioedema medications FIRAZYR and CINRYZE. Takeda cooperated with the investigation and in December 2023, Takeda reached a settlement for an amount that is immaterial. The settlement had no material impact on Takeda’s consolidated statements of profit or loss. Department of Justice Civil Investigative Demands On February 19, 2020, Takeda received a Civil Investigative Demand (“CID”) from the DOJ (through its office in Washington, DC). The CID seeks information as part of an investigation of possible off-label promotion and violations of the Anti-Kickback Statute in connection with the promotion and sale of TRINTELLIX. Takeda is cooperating with the DOJ’s investigation. On February 28, 2020, Takeda received a CID from the DOJ (through its office in Washington, DC). The CID seeks information as part of an investigation of possible kickbacks to a Florida allergy center in connection with the promotion and sale of Takeda’s subcutaneous IG products, CUVITRU, HYQVIA and GAMMAGARD. Takeda is cooperating with the DOJ’s investigation. Brazilian Investigation Related to ELAPRASE and REPLAGAL On November 30, 2021, the Brazilian federal authorities executed a search warrant at Takeda offices in Brazil. The warrant sought records about information Takeda received from the Brazilian National Sanitary Surveillance Agency (AVISA) as well as any records related to donations made to charitable organizations which provide funding to patients who are pursuing claims for reimbursement from the Brazilian government for prescriptions of ELAPRASE and REPLAGAL. Takeda is cooperating with the investigation. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent Events | Subsequent Events On June 25, 2024, Takeda issued subordinated JPY Hybrid Bonds (“the 2nd Hybrid Bonds”) with an aggregate principal amount of JPY 460,000 million. The proceeds from the 2nd Hybrid Bonds offering will be used to replace the 1st Hybrid Bonds with an aggregate principal amount of JPY 500,000 million issued on June 6, 2019. The 2nd Hybrid Bonds will mature on June 25, 2084. Under the terms and conditions of the 2nd Hybrid Bonds, Takeda may make an early repayment of all of the principal of the 2nd Hybrid Bonds on each interest payment date beginning June 25, 2029. Interest is payable semi-annually at a rate per annum subject to revision. The 2nd Hybrid Bonds are unsecured, and Takeda is not subject to any |
Insider Trading Policies and Pr
Insider Trading Policies and Procedures | 12 Months Ended |
Mar. 31, 2024 | |
Insider Trading Policies and Procedures [Line Items] | |
Insider Trading Policies and Procedures Adopted | true |
Material Accounting Policies (P
Material Accounting Policies (Policies) | 12 Months Ended |
Mar. 31, 2024 | |
Significant Accounting Policies [Abstract] | |
Compliance with International Financial Reporting Standards | Compliance with International Financial Reporting Standards Takeda’s consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The term IFRS also includes International Accounting Standards (“IASs”) and the related interpretations of the interpretation’s committees (Standard Interpretations Committee (“SIC”) and International Financial Reporting Interpretations Committee (“IFRIC”)). |
Basis of Measurement | Basis of Measurement The consolidated financial statements have been prepared on a historical cost basis, except for certain assets and liabilities recorded at fair value including equity investments, derivative financial instruments, financial assets and liabilities associated with contingent consideration arrangements, and the application of hyperinflationary accounting at subsidiaries. |
Functional and Presentation Currency | Functional and Presentation Currency The consolidated financial statements are presented in Japanese Yen (“JPY”), which is the functional currency of the Company. All financial information presented in JPY has been rounded to the nearest million JPY, except when otherwise indicated. In tables with rounded figures, sums may not add up due to rounding. |
New Accounting Standards and Interpretations Adopted and Issued ans Not Yet Adopted | New Accounting Standards and Interpretations Adopted On May 23, 2023, amendments to IAS 12 Income Taxes (“IAS 12”) were issued to clarify requirements relating to the International Tax Reform - Pillar Two model rules. As required by the amended IAS 12, Takeda adopted immediately and retrospectively the exception to neither recognize nor disclose information about deferred tax assets and liabilities related to Pillar Two model rules. Takeda incorporated new disclosures regarding the exposure of Pillar Two model rules into Note 7 of the consolidated financial statements for the fiscal year ended March 31, 2024. New Accounting Standards and Interpretations Issued and Not Yet Adopted On April 9, 2024, the IASB has issued IFRS 18 Presentation and Disclosure in Financial Statements (“IFRS 18”), which replaces IAS 1 Presentation of Financial Statements . IFRS 18 introduces certain new requirements to improve the reporting of companies’ financial performance and comparability in the statement of profit or loss between entities. The accounting standard introduces three new defined categories for income and expenses-operating, investing and financing, and requires all companies to provide certain new defined subtotals. IFRS 18 also requires companies to disclose explanations of company-specific measures that are related to the income statement, referred to as management-defined performance measures. Furthermore, the accounting standard sets out enhanced guidance on how to organize information and whether to provide it in primary financial statements or in the notes and requires companies to provide more transparency about operating expenses. IFRS 18 will not impact the recognition or measurement of items in the financial statements. The accounting standard is effective for annual reporting periods beginning on or after January 1, 2027, with early adoption permitted. Takeda is currently in the process of assessing the impact from meeting the new disclosure requirements and will adopt the standard from the fiscal year beginning April 1, 2027. |
Use of Judgments, Estimates, and Assumptions | Use of Judgments, Estimates, and Assumptions The preparation of consolidated financial statements in accordance with IFRS requires management to make certain judgments, estimates, and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results could differ from these estimates. These estimates and underlying assumptions are reviewed on a continuous basis. Changes in these accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Information about judgments and estimates that have been made in the process of applying accounting policies and that have significant effects on the amounts reported in the consolidated financial statements, and information about accounting estimates and assumptions that have significant effects on the amounts reported in the consolidated financial statements, are as follows: • Recognition and measurement of taxes based on uncertain tax positions (Note 7) • Recoverability of deferred tax assets (Note 7) • Impairment of goodwill and intangible assets (Note 11 and Note 12) • Measurement of provisions (Note 23) • Estimation of rebates and return reserves associated with Takeda’s product sales (Note 3 and Note 23) • Probability of an outflow of resources embodying economic benefits on contingent liabilities (Note 32) |
Basis of Consolidation | Basis of Consolidation The consolidated financial statements include the accounts of the Company and its subsidiaries that are directly or indirectly controlled by the Company. All significant intercompany balances and transactions have been eliminated in consolidation. Takeda controls an entity when it is exposed or has rights to variable returns from involvement with the entity and has the ability to affect those returns using its power, which is the current ability to direct the relevant activities, over the entity. To determine whether Takeda controls an entity, status of voting rights or similar rights, contractual agreements and other specific factors are considered. The financial statements of the subsidiaries are included in the consolidated financial statements from the date when control is obtained until the date when control is lost. The financial statements of subsidiaries have been adjusted in order to ensure consistency with the accounting policies adopted by the Company as necessary. Changes in ownership interest in subsidiaries that do not result in loss of control are accounted for as equity transactions. Any difference between the adjustment to non-controlling interests and the fair value of consideration transferred or received, is recognized directly in equity attributable to owners of the Company. When control over a subsidiary is lost, the investment retained after the loss of control is re-measured at fair value as of the date when control is lost, and any gain or loss on such re-measurement and disposal of the interest sold is recognized in profit or loss. |
Investments in Associates and Joint Arrangements | Investments in Associates and Joint Arrangements Associates are entities over which Takeda has significant influence over the decisions on financial and operating policies but does not have control or joint control. Investments in associates are accounted for using the equity method and recognized at cost on the acquisition date. The carrying amount is subsequently increased or decreased to recognize Takeda’s share of profit or loss and other comprehensive income of the associates. Intra-group profits on transactions with associates accounted for using the equity method are eliminated against the investment to the extent of Takeda’s equity interest in the associates. Intra-group losses are eliminated in the same way as intra-group profits unless there is evidence of impairment. Joint arrangement is an arrangement of which two or more parties have joint control. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Takeda classifies joint arrangement into either joint operations or joint ventures. The classification of a joint arrangement as a joint operation or a joint venture depends upon the rights and obligations of the parties to the arrangement. Joint operation is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets, and obligations for the liabilities, relating to the arrangement. Joint venture is a joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement. The assets, liabilities, revenues and expenses in joint operations are recognized in relation to Takeda’s interest. The investment in joint ventures is accounted for using the equity method. At each reporting date, the Company determines whether there is objective evidence that the investment in the associate or joint venture is impaired. If there is such evidence, the Company calculates the amount of impairment as the difference between the recoverable amount of the associate or joint venture and its carrying value, and then recognizes the loss in profit or loss. |
Business Combinations | Business Combinations Business combinations are accounted for using the acquisition method. The identifiable assets acquired and the liabilities assumed are measured at the fair values at the acquisition date. Goodwill is measured as the excess of the sum of the fair value of consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the acquirer’s previously held equity interest in the acquiree less the fair value of identifiable assets acquired, net of liabilities assumed at the acquisition date. As part of business combinations, when the acquired entity consists of foreign operations with multiple functional currencies, Takeda allocates goodwill recognized upon the acquisition to the foreign operations based on the estimated cash flows of the acquired foreign operations. The consideration transferred for the acquisition of a subsidiary is measured as the fair value of the assets transferred, the liabilities incurred to former owners of the acquiree, and the equity interests issued by Takeda at the acquisition date. Non-controlling interests is initially measured either at fair value or at the non-controlling interests’ proportionate share of the recognized amounts of the acquiree’s identifiable net assets on a transaction-by-transaction basis. The consideration for certain acquisitions includes amounts contingent upon future events, such as the achievement of development milestones and sales targets. Any contingent consideration included in the consideration payable for a business combination is recorded at fair value at the date of acquisition. These fair values are generally based on risk-adjusted future cash flows discounted using appropriate discount rates. The fair values are reviewed at the end of each reporting period. The changes in the fair value based on the time value of money are recognized in finance expenses and the other changes are recognized in other operating income or other operating expenses in the consolidated statements of profit or loss. Acquisition related costs are recognized as expenses in the period they are incurred. Changes in Takeda’s ownership interests in subsidiaries arising from transactions between Takeda and non-controlling interests that do not result in Takeda losing control over a subsidiary are treated as equity transactions and therefore, do not result in adjustments to goodwill. |
Foreign Currency Translations | Foreign Currency Translations Foreign Currency Transactions Foreign currency transactions are remeasured into the functional currency of each entity within Takeda using the exchange rates at the dates of the transactions or rates that approximate the exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured into the functional currency using the spot rates of exchange at the end of each reporting period. Non-monetary assets and liabilities that are measured at fair value in foreign currencies are remeasured using historical exchange rates at the date when the fair value was determined. Non-monetary assets and liabilities measured based on historical cost that are denominated in foreign currencies are remeasured at the exchange rate at the date of the initial transaction. Exchange differences arising from the remeasurement or settlement are recognized in profit or loss except when related to financial assets measured at fair value through other comprehensive income, as well as financial instruments designated as hedges of net investments in foreign operations and cash flow hedges subsequently recognized as other comprehensive income. The gain or loss arising from remeasurement of non-monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change in fair value of the item. Translation differences on items whose fair value gain or loss is recognized in other comprehensive income or profit or loss, are also recognized in other comprehensive income or profit or loss, respectively. Foreign Operations The assets and liabilities of foreign operations are translated using the spot exchange rates at the end of the reporting period, while income and expenses of foreign operations presented in profit or loss and other comprehensive income are translated using the exchange rates at the dates of the transactions or rates that approximate the exchange rates at the dates of the transactions. When a foreign operation’s functional currency is the currency of a hyperinflationary economy, adjustments are made to its separate financial statements to reflect current price levels, and income and expenses of the foreign operation are translated into the presentation currency at the exchange rate at the end of the reporting period. The impact of the restatement of the non-monetary assets and liabilities with the general price index at the beginning of the period is recorded in other comprehensive income. The subsequent gains and losses resulting from the restatement of non-monetary assets and liabilities are recorded in finance income or finance expenses in the consolidated statements of profit or loss. Exchange differences arising from translation are recognized as other comprehensive income. In cases in which foreign operations are disposed of, the cumulative amount of exchange differences related to the foreign operations is recognized as part of the gain or loss on disposal. |
Revenue | Revenue Takeda’s revenue is primarily related to the sale of pharmaceutical products and is generally recognized when control of the products is passed to the customer in an amount that reflects the consideration to which Takeda expects to be entitled in exchange for those products. Control is generally transferred at the point in time of shipment to or receipt of the products by the customer, or when the services are performed. The amount of revenue to be recognized is based on the consideration Takeda expects to receive in exchange for its goods or services. If a contract contains more than one contractual promise to a customer (performance obligation), the consideration is allocated based on the standalone selling price of each performance obligation. The consideration Takeda receives in exchange for its goods or services may be fixed or variable. Variable consideration is only recognized to the extent it is highly probable that a significant reversal will not occur. Takeda’s gross sales are subject to various deductions, which are primarily composed of rebates and discounts to retail customers, government agencies, wholesalers, health insurance companies and managed healthcare organizations. These deductions represent estimates of the related obligations, requiring the use of judgment when estimating the effect of these sales deductions on gross sales for a reporting period. These adjustments are deducted from gross sales to arrive at net sales. Takeda monitors the obligation for these deductions on at least a quarterly basis and records adjustments when rebate trends, rebate programs and contract terms, legislative changes, or other significant events indicate that a change in the obligation is appropriate. Historically, adjustments to rebate accruals have not been material to net earnings. The United States (the “U.S.”) market has the most complex arrangements related to revenue deductions. The following summarizes the nature of the most significant adjustments to revenue: • U.S. Medicaid: The U.S. Medicaid Drug Rebate Program is administered by state governments using state and federal funds to provide assistance to certain qualifying individuals and families, who cannot finance their own medical expenses. Calculating the rebates to be paid related to this program involves interpreting relevant regulations, which are subject to challenge or change in interpretative guidance by government authorities. Provisions for Medicaid rebates are estimated based upon identifying the products subject to a rebate, historical experience, patient demand, product pricing and the mix of contracts and specific terms in the individual state agreements. The provisions for Medicaid rebates are recorded in the same period that the corresponding revenues are recognized; however, the Medicaid rebates are not fully paid until subsequent periods. There is often a time lag of several months between Takeda recording the revenue deductions and Takeda’s final accounting for Medicaid rebates. These expected product specific assumptions relate to estimating which of Takeda’s revenue transactions will ultimately be subject to the U.S. Medicaid program. • U.S. Medicare: The U.S. Federal Medicare Program, which funds healthcare benefits to individuals age 65 or older and certain disabilities, provides prescription drug benefits under Part D section of the program. This benefit is provided and administrated through private prescription drug plans. Provisions for Medicare Part D rebates are calculated based on the terms of individual plan agreements, patient demand, product pricing and the mix of contracts. The provisions for Medicare Part D rebates are recorded in the same period that the corresponding revenues are recognized; however, the Medicare Part D rebates are not fully paid until subsequent periods. There is often a time lag of several months between Takeda recording the revenue deductions and Takeda’s final accounting for Medicare Part D rebates. These expected product specific assumptions relate to estimating which of the Takeda’s revenue transactions will ultimately be subject to the U.S. Medicare program. • Customer rebates: Customer rebates including commercial managed care in the U.S. are offered to purchasing organizations, health insurance companies, managed healthcare organizations, and other direct and indirect customers to sustain and increase market share, and to ensure patient access to Takeda’s products. Since rebates are contractually agreed upon, the related provisions are estimated based on the terms of the individual agreements, historical experience, and patient demand. The provisions for commercial managed care rebates in the U.S. are recorded in the same period that the corresponding revenues are recognized; however, commercial managed care rebates in the U.S. are not fully paid until subsequent periods. There is often a time lag of several months between Takeda recording the revenue deductions and Takeda’s final accounting for commercial managed care rebates in the U.S. These expected product specific assumptions relate to estimating which of Takeda’s revenue transactions will ultimately be subject to the commercial managed care in the U.S. • Wholesaler chargebacks: Takeda has arrangements with certain indirect customers whereby the customer is able to buy products from wholesalers at reduced prices. A chargeback represents the difference between the invoice price to the wholesaler and the indirect customer’s contractual discounted price. Provisions for estimating chargebacks are calculated based on the terms of each agreement, historical experience and product demand. Takeda has a legally enforceable right to set off the trade receivables and chargebacks and it intends either to settle them on a net basis or to realize the asset and settle the liability simultaneously. Thus the provision for chargebacks are recorded as a deduction from trade receivables on the consolidated statements of financial position. • Return reserves: When Takeda sells a product providing a customer with the right to return, Takeda records a provision for estimated sales returns based on its sales return policy and historical return rates. Takeda estimates the proportion of recorded revenue that will result in a return by considering relevant factors, including past product returns activity, the estimated level of inventory in the distribution channel and the shelf life of products. Because the amounts are estimated, they may not fully reflect the final outcome, and the amounts are subject to change dependent upon, amongst other things, expected product specific assumptions used in estimating which of Takeda’s revenue transactions will ultimately be subject to the respective programs. Takeda generally receives payments from customers within 90 days after the point in time when goods are delivered to the customers. Takeda usually performs those transactions as a principal, but Takeda also sells products on behalf of others in which case revenue is recognized at an amount of sales commission that Takeda expects to be entitled as an agent. Takeda also generates revenue in the form of royalty payments, upfront payments, and milestone payments from the out-licensing and sale of intellectual property (“IP”). Royalty revenue earned through a license is recognized when the underlying sales have occurred. Revenue from upfront payment is generally recognized when Takeda provides a right to use IP. Revenue from milestone payments is recognized at the point in time when it is highly probable that the respective milestone event criteria is met, and a significant reversal in the amount of revenue recognized will not occur. Revenue from other services such as R&D of therapeutic candidates that are out-licensed is recognized over the service period. Takeda generally receives payments from customers within 60 days after entering into out-licensing contracts or confirmation by customers that conditions for the milestone payments are met. Takeda licenses its own intellectual property rights to customers and performs those transactions as a principal. Takeda also provides other services as a principal or an agent. Takeda identifies a contract modification in case of a change in the scope or price (or both) of a contract. If a contract modification is not accounted for as a separate contract, both of the revenue recognized before and after contract modification is presented in the same categories of the disaggregation of revenue information. |
Government Grants | Government Grants Government grants are recognized when there is reasonable assurance that Takeda will comply with the conditions attached to them and receive the grants. Government grants for the purchasing of property, plant and equipment are recognized as deferred income and then recognized in profit or loss and offset the related expenses on a systematic basis over the useful lives of the related assets. Government grants for expenses incurred are recognized in profit or loss and offset the related expenses over the periods in which Takeda recognizes costs for which the grants are intended to compensate. |
Research and Development Expenses | Research and Development Expenses Research costs are expensed in the period incurred. Internal development expenditures are capitalized when the criteria for recognizing an asset are met in accordance with IAS 38 Intangible Assets |
Income Taxes | Income Taxes Income taxes consist of current taxes and deferred taxes. Current and deferred taxes are recognized in profit or loss, except for income taxes resulting from business combinations, and income taxes recognized in either other comprehensive income or equity related to items that are recognized, in the same or different period, outside of profit or loss. Current Taxes The current taxes payable or receivable is based on taxable profit for the year. Taxable profit differs from reported profit because taxable profit excludes items that are either never taxable or tax deductible or items that are taxable or tax deductible in a different period. Income taxes payable and income taxes receivable, including those from prior fiscal years, are measured at the amount that is expected to be paid to or received from the taxation authorities using tax rates and tax law that have been enacted or substantively enacted by the reporting date, reflecting uncertainty related to income taxes, if any. Takeda’s current taxes also include liabilities related to uncertain tax positions. Inherent uncertainties exist in estimates of many uncertain tax positions due to changes in tax law resulting from legislation, regulation, and/or as concluded through the various jurisdictions’ tax court systems. When Takeda concludes that it is not probable that a tax authority will accept an uncertain tax position, Takeda recognizes the best estimate of the expenditure required to settle a tax uncertainty. This is measured either based on the most likely amount or the expected value amount, depending on which method provides a better prediction of the resolution of the uncertainty. The amount of unrecognized tax benefits is adjusted for changes in facts and circumstances. Takeda’s current tax assets and liabilities are calculated using tax rates that have been enacted or substantively enacted by the reporting date. Deferred Taxes Deferred taxes are calculated based on the temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for taxation purposes at the end of the reporting period. Deferred tax assets are recognized for deductible temporary differences, unused tax credits and unused tax losses to the extent that it is probable that future taxable profit will be available against which the assets can be utilized. This requires Takeda to evaluate and assess the probability of future taxable profit and Takeda’s business plan, which are inherently uncertain. The change in judgment upon determining the revenue forecast used for Takeda's business plan could have a significant impact on the amount of the deferred tax assets to be recognized. Uncertainty of estimates of future taxable profit could increase due to changes in economies in which Takeda operates, changes in market conditions, effects of currency fluctuations, or other factors. Takeda’s deferred taxes also include liabilities related to uncertain tax positions. Deferred tax liabilities are generally recognized for taxable temporary differences. Deferred tax assets and liabilities are not recognized for the following temporary differences: • Taxable temporary differences arising on the initial recognition of goodwill • The initial recognition of assets and liabilities in transactions that are not business combinations and affect neither accounting profit nor taxable profit (loss) at the time of the transaction • Deductible temporary differences arising from investments in subsidiaries and associates, when it is not probable that the temporary differences will reverse in the foreseeable future and that taxable profit will be available against which the temporary differences can be utilized • Taxable temporary differences arising from investments in subsidiaries and associates when the timing of the reversal of the temporary differences is controllable and it is not probable that they will reverse in the foreseeable future Further, Takeda has not recognized nor disclosed deferred tax assets and liabilities of income taxes relating to the Pillar Two model’s rules published by the Organization for Economic Cooperation and Development (“OECD”) , as required by IAS 12 as amended on May 23, 2023. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the periods in which the temporary differences are expected to reverse based on the tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and the deferred tax assets and liabilities for those related to income taxes levied by the same taxation authority on the same taxable entity. |
Earnings per Share | Earnings per Share Basic earnings per share is calculated by dividing profit or loss for the year attributable to owners of ordinary shares of the Company, by the weighted-average number of ordinary shares outstanding during the reporting period, adjusted by the number of treasury shares. Diluted earnings per share is calculated by adjusting all the effects of dilutive potential ordinary shares. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment are measured using the cost model and is stated at cost less accumulated depreciation and accumulated impairment loss. Acquisition cost includes mainly the costs directly attributable to the acquisition and the initial estimated dismantlement, removal, and restoration costs associated with the asset. Except for assets that are not subject to depreciation, such as land and construction in progress, assets are depreciated mainly using the straight-line method over the estimated useful life of the asset. Right of use (“ROU”) assets are depreciated using the straight-line method over the shorter of the lease term or the estimated useful life unless it is reasonably certain that Takeda will obtain ownership by the end of the lease term. The depreciation of these assets begins when they are available for use. The estimated useful life of major asset items is as follows: • Buildings and structures 3 to 50 years • Machinery and vehicles 2 to 20 years • Tools, furniture and fixtures 2 to 20 years |
Goodwill | Goodwill Goodwill arising from business combinations is stated at its cost less accumulated impairment losses. Goodwill is not amortized. Goodwill is allocated to cash-generating units (CGUs) or groups of cash-generating units that represent the lowest level within the entity for which information about goodwill is available and monitored for internal management purposes and are not larger than an operating segment. Goodwill is only allocated to CGUs or groups of CGUs that are expected to benefit from synergies related to the business combination from which goodwill arose and the method of allocation depends on the facts and circumstances of the business combination. Goodwill is tested for impairment annually and whenever there is any indication of impairment. Impairment losses on goodwill are recognized in the consolidated statements of profit or loss and no subsequent reversal will be made. |
Intangible Assets Associated with Products and Intangible Assets – Software | Intangible Assets Associated with Products Amortization and impairment losses on intangible assets associated with products is separately stated in the consolidated statements of profit or loss because intangible assets associated with products have various comprehensive rights and contribute to our ability to sell, manufacture, research, market and distribute products, compounds and benefit multiple business functions. Marketed Products An intangible asset associated with a marketed product is amortized on a straight-line basis over the estimated useful life, which is based on expected patent life, and/or other factors depending on the expected economic benefits of the asset, ranging from 3 to 20 years, from marketing approval. These intangible assets are assessed for impairment if indicators of a potential impairment exist. An impairment is recorded if the carrying value exceeds the recoverable amount of the intangible assets. Intangible assets relating to marketed products of which Takeda recalls or ceases sales for any reason are written down to their recoverable amount. Amortization, impairment and reversal of impairment related to intangible assets associated with marketed products are included in amortization and impairment losses on intangible assets associated with products in the consolidated statements of profit or loss. In-Process R&D Takeda enters into collaboration and in-license agreements with third parties for products and compounds for R&D projects. Payments for collaboration agreements generally take the form of subsequent development milestone payments. Payments for in-license agreements generally take the form of up-front payments and subsequent development milestone payments. Up-front payments for in-license agreements are capitalized upon commencement of the in-license agreements, and development milestone payments are capitalized when the milestone is achieved. These intangible assets relating to products in development that are not yet available for use are not amortized. These intangible assets are assessed for impairment on an annual basis, and more frequently if indicators of a potential impairment exist. An impairment is recorded if the carrying value exceeds the recoverable amount of the intangible assets. Intangible assets relating to in-process R&D which fail during development or for which development ceases for any reason are written down to their recoverable amount which is typically nil. Impairment and reversal of impairment related to intangible assets associated with in-process R&D are included in amortization and impairment losses on intangible assets associated with products in the consolidated statements of profit or loss. If and when Takeda obtains approval for the commercial application of a product in development, the related in-process R&D assets will be reclassified to intangible assets associated with marketed products. Intangible Assets – Software Software is recognized at cost and amortized on a straight-line basis over the expected useful life. The useful life used for this purpose is 3 to 10 years. Amortization of intangible assets – software is included in cost of sales, selling, general and administrative expenses, and research and development expenses in the consolidated statements of profit or loss. |
Leases | Leases As Lessee Takeda assesses whether a contract is or contains a lease at inception of a contract. As a lessee, Takeda recognizes a ROU asset and a corresponding lease liability for all contracts in which it is a lessee in the consolidated statements of financial position at the lease commencement date. The ROU asset is initially measured at cost, being the initial amount of the lease liability adjusted for any lease payments made at or before the lease commencement date and subsequently at cost less any accumulated depreciation and impairment losses. The ROU asset is subsequently depreciated using the straight-line method over the shorter of the lease term or the estimated useful life of the underlying asset. The ROU asset is subject to impairment assessment. The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if not readily determinable, the Takeda’s incremental borrowing rate. Generally, Takeda uses its incremental borrowing rate as the discount rate. The lease term comprises a non-cancellable period of lease contracts and periods covered by an option to extend or terminate the lease if Takeda is reasonably certain to exercise that option. After initial recognition, the lease liability is measured at amortized cost using the effective interest method. If there is a change in future lease payments, such as from reassessment of whether an extension or termination option will be exercised, the lease liability is remeasured. A corresponding adjustment is made to the ROU asset or is recorded in the consolidated statements of profit or loss when the right-of-use asset has been fully depreciated. Takeda has elected to apply recognition exemption for leases that have a lease term of 12 months or less and leases of low-value assets. The lease payments for such leases are recognized as an expense on a straight-line basis over the lease term. As a practical expedient, Takeda has elected not to separate non-lease components from lease components, and instead accounts for each lease component and any associated non-lease components as a single lease component. |
Impairment of Non-Financial Assets | Impairment of Non-Financial Assets Takeda assesses whether there is any indication of impairment for non-financial assets at the end of each reporting period, excluding inventories, deferred tax assets, assets held for sale, and net defined benefit assets. If any such indication exists, and in cases in which an impairment test is required to be performed each year, the recoverable amount of the asset is estimated. In cases the recoverable amount cannot be estimated for each asset, they are estimated at the cash-generating unit level. The recoverable amount of an asset or a cash-generating unit is determined at the higher of its fair value less costs of disposal or its value in use. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining the value in use, the estimated future cash flows are discounted to their present value using a discount rate that reflects the time value of money and the risks specific to the asset. If the carrying amount of the asset or cash-generating unit exceeds the recoverable amount, impairment loss is recognized in profit or loss and the carrying amount is reduced to the recoverable amount. An asset or a cash-generating unit other than goodwill, for which impairment losses were recognized in prior years, is assessed at the end of the reporting period to determine whether there is any indication that the impairment loss recognized in prior periods may no longer exist or may have decreased. If any such indication exists, the recoverable amount of the asset or cash-generating unit is estimated. In cases the recoverable amount exceeds the carrying amount of the asset or cash-generating unit, the impairment loss is reversed up to the lower of the estimated recoverable amount or the carrying amount, net of depreciation and amortization, that would have been determined if no impairment loss had been recognized in prior years. The reversal of impairment loss is immediately recognized in profit or loss. |
Inventories | Inventories Inventories are measured at the lower of cost or net realizable value. The cost of inventories is determined mainly using the weighted-average cost formula. The cost of inventories includes purchase costs, costs of conversion, and other costs incurred in bringing the inventories to the present location and condition. Net realizable value is the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. Pre-launch inventory is held as an asset when there is a high probability of regulatory approval for the product. Before that point, a provision is made against the carrying value to its recoverable amount. The provision is then reversed at the point when a high probability of regulatory approval is determined. |
Cash and cash equivalents | Cash and cash equivalents Cash and cash equivalents consist of cash on hand, demand deposits and short-term, highly liquid investments that are readily convertible to known amounts of cash and subject to insignificant risk of change in value and due within three months from the date of acquisition. |
Assets Held for Sale | Assets Held for Sale An asset or disposal group for which the cash flows are expected to arise principally from sale rather than continuing use is classified as an asset held for sale when it is highly probable that the asset or disposal group will be sold within one year, the asset or disposal group is available for immediate sale in its present condition, and the management of Takeda is committed to the sale. In such cases, the asset held for sale is measured at the lower of its carrying amount and fair value less costs to sell. Property, plant and equipment and intangible assets classified as held for sale are not depreciated or amortized. Assets and liabilities classified as held for sale are presented separately as current items in the consolidated statements of financial position. |
Post-employment Benefit | Post-employment Benefit Takeda sponsors lump-sum payments on retirement, pensions and other plans such as post-retirement medical care as post-employment benefit plans. They are classified as defined benefit plans or defined contribution plans, depending on the characteristics of the plans. Defined Benefit Plans Takeda uses the projected unit credit method to determine the present value, the related current service cost, and the past service cost by each defined benefit obligation. The discount rate is determined by reference to market yields on high quality corporate bonds at the end of the reporting period. The net defined benefit liabilities (assets) in the consolidated statements of financial position are calculated by deducting the fair value of the plan assets from the present value of the defined benefit obligations. If the defined benefit plan has a surplus, the net defined benefit asset is limited to the present value of any future economic benefits available in the form of refunds from the plan or reductions in future contributions to the plan. Past service cost defined as the change in the present value of the defined benefit obligation resulting from a plan amendment or curtailment is recognized in profit or loss upon occurrence of the plan amendment or curtailment. Remeasurement of net defined benefit plans is recognized in full in other comprehensive income and transferred to retained earnings in the period in which they are recognized. Defined Contribution Plans The costs for defined contribution plans are recognized as expenses when employees render related services. |
Provisions | Provisions Takeda recognizes rebates and return reserves if Takeda receives consideration from a customer and expects to refund some or all of that consideration to the customer. In addition, provisions are recognized when Takeda has present legal or constructive obligations as a result of past events, it is probable that outflows of resources embodying economic benefits will be required to settle the obligations and reliable estimates can be made of the amount of the obligations. Takeda’s provisions consist primarily of rebates and return reserves, as well as provisions for litigation and restructuring. |
Financial Instruments | Financial Instruments Takeda’s financial instruments include financial instruments related to lease contracts, trade and other receivables and payables, financial assets and liabilities associated with contingent consideration arrangements, derivative instruments, and rights and obligations under employee benefit plans, which are dealt with in specific accounting policies. |
Financial Assets | Financial Assets Initial Recognition and Measurement Financial assets are recognized in the consolidated statements of financial position when Takeda becomes a party to the contract of the instruments. Financial assets, except for investments in debt instruments measured at fair value through profit or loss (“FVTPL”), are initially measured at fair value plus transaction costs that are directly attributable to the acquisition. • Investments in debt instruments measured at amortized cost: Assets such as trade and other receivables that are held within a business model whose objective is to hold financial assets in order to collect contractual cash flows and whose contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding are measured at amortized cost. Trade receivables are initially recognized at their invoiced amounts, including any related sales taxes less adjustments for deductions such as impairment loss allowance and cash discounts. • Investments in debt instruments measured at fair value through other comprehensive income (“FVTOCI”): Assets that are held within a business model objective whose objective is achieved by both collecting contractual cash flows and selling financial assets whose contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding are measured at FVTOCI. • Investments in debt instruments measured at FVTPL: Assets that do not meet the criteria for amortized cost or FVTOCI are measured at FVTPL. • Equity instruments measured at FVTOCI: On initial recognition, Takeda makes an irrevocable FVTOCI election (on an instrument-by-instrument basis) to present the subsequent changes in the fair value of equity instruments in other comprehensive income for certain equity instruments held for the long term for strategic purposes. At the reporting date, Takeda designates all of its equity instruments as financial assets measured at FVTOCI. Subsequent Measurement and Derecognition Takeda derecognizes a financial asset only when the contractual right to receive the cash flows from the asset expires or when Takeda transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another entity. • Investments in debt instruments measured at amortized cost: These assets are subsequently measured at amortized cost using the effective interest method. The amortized cost is reduced by impairment losses. Interest income, foreign exchange gains and losses and impairment are recognized in profit or loss. Any gain or loss on derecognition is recognized in profit or loss. • Investments in debt instruments measured at FVTOCI: These assets are subsequently measured at fair value. Interest income calculated using the effective interest method, foreign exchange gains and losses and impairment are recognized in profit or loss. Other net gains and losses arising from changes in fair value are recognized in other comprehensive income. Upon derecognition of the investments, the gains and losses accumulated in other comprehensive income related to the investment is reclassified to profit or loss. • Investments in debt instruments measured at FVTPL: These assets are subsequently measured at fair value, and a gain or loss on debt instruments that is subsequently measured at FVTPL is recognized in profit or loss. • Equity instruments measured at FVTOCI: These assets are subsequently measured at fair value. Dividends are recognized as income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognized in other comprehensive income and are never reclassified to profit or loss. Upon derecognition of the investments, the amounts in other comprehensive income related to the investment is reclassified within equity to retained earnings. Impairment |
Financial Liabilities | Financial Liabilities Initial Recognition and Measurement Financial liabilities are recognized in the consolidated statements of financial position when Takeda becomes a party to the contract of financial instruments. Financial liabilities are classified, at initial recognition, as financial liabilities measured at FVTPL, bonds and loans, or payables. Financial liabilities, except for those measured at FVTPL, are initially measured at fair value less transaction costs that are directly attributable to the issuance. Subsequent Measurement • Financial liabilities measured at FVTPL: Financial liabilities measured at FVTPL are subsequently measured at fair value, and any gains or losses arising on re-measurement are recognized in profit or loss. Financial liabilities measured at FVTPL include derivatives and financial liabilities associated with contingent consideration arrangements. • Other financial liabilities, including bonds and loans: Other financial liabilities are measured at amortized cost mainly using the effective interest method. Derecognition Takeda derecognizes a financial liability only when the obligation specified in the contract is discharged, canceled, or expires. On derecognition of a financial liability, the difference between the carrying amount and the consideration paid or payable is recognized in profit or loss. |
Derivatives | Derivatives Takeda hedges the risks arising mainly from its exposure to fluctuations in foreign currency exchange rates and interest rates using derivatives such as foreign exchange forward contracts, currency options, interest rate swaps, cross currency interest rate swaps and interest rate future. In addition, Takeda hedges the risks arising from its exposure to fluctuations in prices of renewable energy using forward contracts. Takeda does not enter into derivative transactions for trading or speculative purposes. Derivatives are measured at FVTPL unless the derivative contracts are designated as hedging instruments. The gains and losses on derivatives that are not designed as hedging instruments are recognized in profit or loss. The treatment of the change in fair value for derivatives designated as hedging instruments varies based on the type of hedge as described below. Hedge Accounting For foreign currency exposure as a result of translation risk, Takeda designates certain non-derivatives, such as foreign currency denominated debt and certain derivatives such as foreign currency forwards, as net investment hedges of foreign operations. For foreign currency exposure due to foreign currency denominated transactions, Takeda designates certain derivatives, such as foreign currency forwards, currency options and cross currency interest rate swaps, as cash flow hedges of forecasted transactions. For interest risk exposure, Takeda designates derivatives such as interest and cross currency interest rate swaps and forward rate agreements, as cash flow hedges of forecasted transactions. Within the designation documentation at inception, Takeda documents the risk management objective, nature of the risk being hedged, and relationship between hedging instruments and hedged risk based on the strategy for undertaking the hedging relationships. At inception and on a quarterly basis, Takeda also assesses whether the hedging instruments are highly effective in offsetting changes in the fair value or the cash flows of the hedged item. • Cash flow hedges: the effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recognized in other comprehensive income. The gain or loss relating to the ineffective portion is recognized immediately in profit or loss. The cumulative gain or loss that was previously recognized in other comprehensive income is reclassified to profit or loss in the same period when the cash flows of the hedged items are recognized in profit or loss and in the same line item in the consolidated statements of profit or loss. The currency basis spread and the time value of the foreign currency options are accounted for and presented as hedging cost under other components of equity separately from cash flow hedges. • Net investment hedges in foreign operations: the gain or loss on hedging instruments in foreign operation is recognized in other comprehensive income. At the time of disposal of the foreign operations, the cumulative gain or loss recognized in other comprehensive income is reclassified to profit or loss. Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or exercised, or when the hedge no longer qualifies for hedge accounting. The cash flows of hedging instruments qualified for hedge accounting are classified in the same manner as the cash flows of the items being hedged. |
Transaction costs of financial liabilities | Transaction costs of financial liabilities Transaction costs relating to the financial liabilities of debt issued are recorded against the corresponding debt and amortized to the consolidated statements of profit or loss over the period to the earliest redemption date of the debt, using the effective interest rate method. On extinguishment of the related debt, any unamortized deferred transaction costs are written off and charged to interest expense in the consolidated statements of profit or loss. |
Share-based Payments | Share-based Payments Takeda has implemented share-based payment programs and provides equity and cash-settled share-based payments. Equity-settled Share-based Payments Equity-settled share-based payments are granted based on the service performed by the employees, directors, and senior management. The service received and the corresponding increase in equity are measured at the fair value of the equity instruments at the grant date. The fair value of the equity instruments granted to employees, directors, and senior management are recognized as expense over the vesting period of the awards with a corresponding amount as an increase in equity. Cash-settled Share-based Payments Cash-settled share-based payments are granted based on the service performed by the employees, directors, and senior management. The service received and the corresponding liability are measured at the fair value of the corresponding liability. The fair value of the liability-classified awards granted to employees, directors, and senior management are recognized as expense over the vesting period of the awards with a corresponding amount as an increase in liability. Takeda re-measures the fair value of the liability at the end of each reporting period and at the date of settlement and recognizes any changes in fair value in profit or loss. |
Ordinary Shares | Ordinary Shares Proceeds from the issuance of ordinary shares by Takeda are included in share capital and share premium. |
Treasury Shares | Treasury Shares When Takeda acquires treasury shares, the consideration paid is recognized as a deduction from equity. When Takeda sells the treasury shares, the difference between the carrying amount and the consideration received is recognized in share premium. |
Operating Segment and Revenue_2
Operating Segment and Revenue Information (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of operating segments [abstract] | |
Schedule of Disaggregation of Revenue Information | Takeda’s revenue from contracts with customers is comprised of the following: Revenue by Type of Good or Service JPY (millions) For the Year Ended March 31 2022 2023 2024 Sales of pharmaceutical products ¥ 3,295,723 ¥ 3,922,280 ¥ 4,163,652 Out-licensing and service income 273,283 105,198 100,110 Total ¥ 3,569,006 ¥ 4,027,478 ¥ 4,263,762 Revenue by Business Area and Product JPY (millions) 2022 2023 2024 Gastroenterology: ENTYVIO ¥ 521,778 ¥ 702,744 ¥ 800,919 GATTEX/REVESTIVE 75,751 93,076 119,252 TAKECAB/VOCINTI (1) 102,397 108,719 118,526 PANTOLOC/CONTROLOC (2) 40,275 45,518 46,495 DEXILANT 50,763 69,371 45,278 ALOFISEL 1,843 2,725 3,513 Others 82,877 72,388 82,226 Total Gastroenterology 875,685 1,094,541 1,216,207 Rare Diseases: Rare Hematology: ADVATE 118,491 118,188 122,911 ADYNOVATE/ADYNOVI 60,726 66,553 66,308 FEIBA 39,162 41,268 40,543 VONVENDI 8,774 12,217 16,188 RECOMBINATE 12,297 12,762 12,050 Others 44,239 53,730 47,298 Total Rare Hematology 283,689 304,718 305,297 Rare Genetics and Other: TAKHZYRO 103,242 151,800 178,677 ELAPRASE 73,119 85,321 91,561 REPLAGAL 51,714 66,741 73,553 VPRIV 42,408 48,372 51,295 LIVTENCITY 1,325 10,501 19,085 Others 55,698 55,989 51,232 Total Rare Genetics and Other 327,507 418,724 465,403 Total Rare Diseases (4) 611,196 723,442 770,701 JPY (millions) 2022 2023 2024 PDT Immunology: immunoglobulin 385,864 522,211 644,587 albumin 90,035 121,446 133,990 Others 31,052 34,786 39,993 Total PDT Immunology (4) 506,951 678,443 818,570 Oncology: ADCETRIS 69,190 83,937 109,425 LEUPLIN/ENANTONE 106,459 111,311 107,350 NINLARO 91,203 92,691 87,361 ICLUSIG 34,860 47,206 54,706 ALUNBRIG 13,644 20,556 28,524 FRUZAQLA — — 10,080 VELCADE 110,046 27,759 5,539 EXKIVITY 962 3,732 3,459 Others 42,367 51,551 55,917 Total Oncology 468,730 438,742 462,362 Neuroscience: VYVANSE/ELVANSE 327,052 459,289 423,221 TRINTELLIX 82,315 100,081 104,797 ADDERALL XR 20,885 28,594 41,756 INTUNIV 18,938 16,354 33,555 Others 33,104 33,393 23,686 Total Neuroscience 482,294 637,711 627,014 Other: AZILVA-F (1) 76,297 72,897 33,636 FOSRENOL 13,612 13,532 13,529 Others (3) 534,242 368,168 321,743 Total Other (4) 624,150 454,598 368,908 Total ¥ 3,569,006 ¥ 4,027,478 ¥ 4,263,762 (1) The figures include the amounts of fixed dose combinations and blister packs. (2) Generic name: pantoprazole (3) The figure for the year ended March 31, 2022 includes the JPY 133,043 million selling price on sales of four diabetes products (NESINA, LIOVEL, INISYNC and ZAFATEK) in Japan to Teijin Pharma Limited recorded as revenue. As Takeda transferred only the assets, marketing rights and, eventually, marketing authorization associated with the pharmaceutical products which do not entail transfer of employees or associated contracts, Takeda applied IFRS 15 to the transaction and recorded the selling price in revenue. (4) Starting from the fiscal year ending March 31, 2025 (FY2024), “Plasma-Derived Therapies” will replace the previous category of “PDT Immunology” and will include all plasma-derived products including those previously categorized within “Rare Diseases” (e.g., FEIBA , CINRYZE ). “Vaccines” will be presented as a separate key business area (previously included in “Others”), reflecting the strategic focus on our dengue vaccine, QDENGA . |
Schedule of Geographic Information | Takeda’s revenue from contracts with customers is based in the following geographic locations: JPY (millions) For the Year Ended March 31 2022 2023 2024 Japan ¥ 658,983 ¥ 512,043 ¥ 451,391 U.S. 1,714,421 2,103,772 2,195,711 Europe and Canada 739,168 842,668 966,835 Asia (excluding Japan) 196,964 225,007 261,218 Latin America 128,467 160,375 198,100 Russia/CIS 62,057 88,431 72,594 Other 68,945 95,182 117,911 Total ¥ 3,569,006 ¥ 4,027,478 ¥ 4,263,762 Takeda’s non-current assets are held in the following geographic locations: JPY (millions) 2023 2024 Japan ¥ 373,133 ¥ 366,276 U.S. 7,560,491 8,223,949 Ireland 792,382 885,496 Switzerland 799,325 860,795 Other 1,258,787 1,361,811 Total ¥ 10,784,117 ¥ 11,698,327 |
Schedule of Contract Balances | Contract Balances JPY (millions) 2023 2024 Receivables from contracts with customers Trade receivables (Note 17) ¥ 575,431 ¥ 612,439 Contract assets Unbilled receivables 2,628 2,574 Contract liabilities Deferred income (Note 24) 8,609 8,259 Advance payments 19 45 |
Schedule of Transaction Price Allocated to the Remaining Performance Obligations | Transaction price allocated to the remaining performance obligations JPY (millions) Total Duration of the remaining performance obligations Within one year Between one and five years More than five years Contract liabilities as of March 31, 2023 ¥ 8,628 ¥ 6,394 ¥ 458 ¥ 1,775 Contract liabilities as of March 31, 2024 8,304 6,119 517 1,668 |
Other Operating Income and Ex_2
Other Operating Income and Expenses (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Analysis of income and expense [abstract] | |
Schedule of Other Operating Income and Expenses | JPY (millions) 2022 2023 2024 Other operating income: Change in fair value of financial assets and liabilities associated with contingent consideration arrangements (Note 27) ¥ 11,195 ¥ — ¥ — Gain on sales of property, plant and equipment and investment property 1,148 2,094 144 Gain on divestment of business to Teva Takeda Yakuhin 1,414 6,807 588 Gain on divestment of business and subsidiaries 5,602 — 7,243 Change in estimate of liabilities related to SHP647 — 4,102 — Other 23,762 12,421 11,404 Total ¥ 43,123 ¥ 25,424 ¥ 19,379 Other operating expenses: Donations and contributions ¥ 8,255 ¥ 7,685 ¥ 7,009 Restructuring expenses (Note 23) 83,836 59,234 81,358 Change in fair value of financial assets and liabilities associated with contingent consideration arrangements (Note 27) — 3,991 20,757 Valuation reserve for pre-launch inventories 20,723 9,466 11,052 Impairment of assets held for sale (Note 19) — 4,693 1,685 Other 46,261 60,178 84,666 Total ¥ 159,075 ¥ 145,247 ¥ 206,527 |
Finance Income and Expenses (Ta
Finance Income and Expenses (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Borrowing costs [abstract] | |
Summary of Finance Income and Expenses | JPY (millions) 2022 2023 2024 Finance Income: Interest income Interest income from financial assets measured at amortized cost ¥ 3,880 ¥ 4,187 ¥ 8,850 Interest income from financial assets measured at fair value through P&L 700 1,318 2,442 Interest income on sublease 11 3 1 Total interest income 4,591 5,508 11,293 Dividend income Dividend income from financial assets measured at fair value through OCI and disposed of during the period 8 6 — Dividend income from financial assets measured at fair value through OCI and held at end of the period 164 267 335 Total dividend income 172 273 335 Gain on derivative financial assets – Foreign currency exchange — 4,476 31,053 Gain on derivative financial assets – Warrants — 15,896 — Gain on derivative financial assets – Virtual power purchase agreement — 6,843 3,393 Gain on derivative financial assets – Cross currency interest rate swap — — 4,144 Remeasurement to fair value of pre-existing interest in an acquiree 8,482 22,416 — Other 10,455 7,501 1,875 Total ¥ 23,700 ¥ 62,913 ¥ 52,093 Finance Expenses: Interest expense Interest expense on financial debt ¥ 108,498 ¥ 100,393 ¥ 98,710 Interest expense on lease liabilities 13,934 16,580 20,826 Total interest expense 122,432 116,973 119,535 Loss on derivative financial assets – Foreign currency exchange 2,112 — — Loss on derivative financial assets – Warrants 20,483 — — Loss on derivative financial assets – Virtual power purchase agreement — 6,843 3,393 Loss on foreign currency exchange, net 1,791 14,205 44,665 Hyperinflation effect expense 3,698 12,256 18,160 Other 16,091 19,421 34,096 Total ¥ 166,607 ¥ 169,698 ¥ 219,850 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Income taxes paid (refund) [abstract] | |
Schedule of Composition of Income Tax Expense (Benefit) | The composition of income tax expense (benefit) is as follows: JPY (millions) 2022 2023 2024 Current tax expense ¥ 208,513 ¥ 246,578 ¥ 107,349 Deferred tax benefit (136,108) (188,526) (198,755) Total ¥ 72,405 ¥ 58,052 ¥ (91,406) |
Schedule of Reconciliation from Income Tax Expense (Benefit) | The following is a reconciliation from income tax expense at Takeda's domestic (Japanese) statutory tax rate to Takeda's income tax expense (benefit) reported for the year ended March 31: JPY (millions) 2022 2023 2024 Profit before tax ¥ 302,571 ¥ 375,090 ¥ 52,791 Income tax expense at Takeda’s domestic (Japanese) statutory tax rate of 30.6% 92,526 114,703 16,143 Non-deductible expenses for tax purposes (1) 6,071 15,158 21,353 Changes in unrecognized deferred tax assets and deferred tax liabilities (2) (8,831) (21,791) (3,512) Tax credits (32,948) (26,676) (30,654) Differences in applicable tax rates of overseas subsidiaries (3) 24,496 (31,446) (29,782) Changes in tax effects of undistributed profit of overseas subsidiaries (20,359) 6,174 (1,737) Effect of changes in applicable tax rates and tax law (4) (39,661) 2,482 (11,994) Tax contingencies (5) 58,540 13,991 (83,784) Effect of prior year items (4,762) (7,524) (2,479) Entity reorganizations/Divestments 2,041 (6,321) 33,469 Other (4,708) (698) 1,571 Income tax expense (benefit) reported for the year ¥ 72,405 ¥ 58,052 ¥ (91,406) (1) Amounts for the years ended March 31, 2022, 2023 and 2024 include the impact from intra territory eliminations, the pre-tax effect of which has been eliminated in arriving at Takeda’s consolidated income from continuing operations before income taxes. Additionally, amounts for the years ended March 31, 2023 and 2024 include non-deductible interest due to Japanese earnings stripping rules. (2) Amounts for the years ended March 31, 2022, 2023 and 2024 include deferred tax expenses (benefits) associated with carried forward net operating losses. The amount for the year ended March 31, 2023 is driven by recognition of tax benefits from previously unrecognized tax losses as result of internal entity restructuring transactions. (3) Amounts for the years ended March 31, 2022, 2023 and 2024 include unitary and minimum taxes on overseas subsidiaries. (4) Amount for the year ended March 31, 2022 includes JPY 39,106 million deferred tax benefit related to a blended state tax rate change as a result of legal entity restructuring in the US. Amount for the year ended March 31, 2024 includes JPY 4,206 million deferred tax expense related to US state law change and JPY 16,200 million deferred tax benefit relating to extension of the carryforward period relating to Japanese earnings stripping rules. (5) Tax expense amount for the year ended March 31, 2022 includes JPY 65,942 million from the AbbVie break fee case. Tax benefit for the year ended March 31, 2024 is from favorable resolution of tax contingencies including JPY 63,547 million relating to the AbbVie break fee settlement. |
Schedule of Deferred Taxes | Deferred tax assets and liabilities reported in the consolidated statements of financial position are as follows: JPY (millions) 2023 2024 Deferred tax assets ¥ 366,003 ¥ 393,865 Deferred tax liabilities (270,620) (113,777) Net deferred tax assets ¥ 95,383 ¥ 280,088 The major items and changes in deferred tax assets and liabilities are as follows: JPY (millions) As of April 1, 2022 Recognized in profit or (loss) Recognized in other comprehensive income Other (1) As of March 31, 2023 Research and development expenses ¥ 33,199 ¥ 98,057 ¥ — ¥ 4,974 ¥ 136,230 Inventories 94,530 11,863 — 4,518 110,911 Property, plant and equipment (69,775) 2,834 — (4,818) (71,759) Intangible assets (497,480) 86,244 — (41,358) (452,594) Financial assets measured at FVTOCI (6,759) — 214 1,417 (5,128) Accrued expenses and provisions 155,330 (6,402) — 16,115 165,043 Defined benefit plans 13,456 (2,855) (5,563) 1,368 6,406 Deferred income 11,225 (3,911) — 118 7,432 Unused tax losses 119,453 (24,662) — 6,301 101,092 Tax credits 38,912 9,389 — 3,790 52,091 Investments in subsidiaries and associates (31,210) (5,581) — (47) (36,838) Cash flow hedges 29,031 — 9,449 — 38,480 Other 21,116 23,550 7,485 (8,134) 44,017 Total ¥ (88,972) ¥ 188,526 ¥ 11,585 ¥ (15,756) ¥ 95,383 JPY (millions) As of April 1, 2023 Recognized in profit or (loss) Recognized in other comprehensive income Other (1) As of March 31, 2024 Research and development expenses ¥ 136,230 ¥ 77,180 ¥ — ¥ 3,600 ¥ 217,010 Inventories 110,911 20,482 — 7,009 138,402 Property, plant and equipment (71,759) 9,249 — (5,999) (68,509) Intangible assets (452,594) 99,039 — (36,715) (390,270) Financial assets measured at FVTOCI (5,128) — (2,056) (455) (7,639) Accrued expenses and provisions 165,043 7,469 — 13,081 185,593 Defined benefit plans 6,406 667 2,170 5,485 14,728 Deferred income 7,432 (1,955) — 16 5,493 Unused tax losses 101,092 (15,970) — 3,549 88,671 Tax credits 52,091 (11,230) — 5,298 46,159 Investments in subsidiaries and associates (36,838) 10,183 — (146) (26,801) Cash flow hedges 38,480 2,227 (19,062) — 21,645 Other 44,017 1,414 (3,171) 13,346 55,606 Total ¥ 95,383 ¥ 198,755 ¥ (22,119) ¥ 8,069 ¥ 280,088 (1) Other consists primarily of foreign currency translation differences, reclassification of deferred tax assets and liabilities classified as held for sale and the tax impact of items charged directly to equity. The aggregate amount of deferred tax related to items charged directly to equity for the years ended March 31, 2023 and 2024 was JPY 2,204 million and JPY 506 million, respectively. The unused tax losses, deductible temporary differences, and unused tax credits for which deferred tax assets were not recognized are as follows: JPY (millions) 2023 2024 Unused tax losses ¥ 1,181,757 ¥ 1,186,106 Deductible temporary differences 259,784 263,143 Unused tax credits 11,186 23,724 The unused tax losses and unused tax credits for which deferred tax assets were not recognized will expire as follows: JPY (millions) Unused tax losses 2023 2024 1st year ¥ 76 ¥ 812 2nd year 762 85 3rd year 307 1,989 4th year 896 6,233 5th year 2,081 578,648 After 5th year 1,114,021 590,813 Indefinite 63,614 7,526 Total ¥ 1,181,757 ¥ 1,186,106 JPY (millions) Unused tax credits 2023 2024 Less than 5 years ¥ 2,151 ¥ 3,901 5 years or more 9,034 19,823 Indefinite — — Total ¥ 11,186 ¥ 23,724 |
Earnings per Share (Tables)
Earnings per Share (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Earnings per share [abstract] | |
Schedule of Basis for Calculating Basic and Diluted Earnings per Share | The basis for calculating basic and diluted earnings per share (“EPS”) (attributable to owners of the Company) is as follows: For the Year Ended March 31 2022 2023 2024 Net profit for the year attributable to owners of the Company: Net profit for the year attributable to owners of the Company JPY (millions) ¥ 230,059 ¥ 317,017 ¥ 144,067 Net profit used for calculation of earnings per share JPY (millions) 230,059 317,017 144,067 Weighted-average number of ordinary shares outstanding during the year (thousands of shares) [basic] 1,563,501 1,551,809 1,564,450 Dilutive effect (thousands of shares) 13,668 18,064 15,893 Weighted-average number of ordinary shares outstanding during the year (thousands of shares) [diluted] 1,577,169 1,569,872 1,580,343 Earnings per share Basic (JPY) 147.14 204.29 92.09 Diluted (JPY) 145.87 201.94 91.16 |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Equity [abstract] | |
Scheude of Components of Other Comprehensive Income (Loss) | Amounts arising during the year, reclassification adjustments to profit or loss, and tax effects for each component of other comprehensive income (loss) are as follows: JPY (millions) 2022 2023 2024 Items that will not be reclassified to profit or loss: Changes in fair value of financial assets measured at fair value through OCI: Amounts arising during the year ¥ (17,295) ¥ (2,868) ¥ 4,365 Tax effects 2,669 214 (2,056) Changes in fair value of financial assets measured at fair value through OCI ¥ (14,626) ¥ (2,654) ¥ 2,309 Remeasurement of defined benefit pension plans: Amounts arising during the year ¥ 26,890 ¥ 23,315 ¥ (7,172) Tax effects (6,107) (5,563) 2,170 Remeasurement of defined benefit pension plans ¥ 20,783 ¥ 17,752 ¥ (5,002) Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations: Amounts arising during the year ¥ 558,102 ¥ 566,683 ¥ 956,254 Reclassification adjustments to profit or (loss) — — — Before tax effects 558,102 566,683 956,254 Tax effects 25,867 52,090 12,588 Exchange differences on translation of foreign operations ¥ 583,969 ¥ 618,773 ¥ 968,842 Changes in fair value of financial assets measured at fair value through OCI: Amounts arising during the year ¥ — ¥ (9,118) ¥ (16,150) Reclassification adjustments to profit or (loss) — 9,118 16,150 Before tax effects — — — Tax effects — — — Changes in fair value of financial assets measured at fair value through OCI ¥ — ¥ — ¥ — Cash flow hedges: Amounts arising during the year ¥ 82,780 ¥ 56,437 ¥ 171,059 Reclassification adjustments to profit or (loss) (79,321) (87,337) (137,265) Before tax effects 3,459 (30,900) 33,794 Tax effects (1,286) 9,449 (10,338) Cash flow hedges ¥ 2,173 ¥ (21,451) ¥ 23,456 Hedging cost: Amounts arising during the year ¥ 6,611 ¥ (21,426) ¥ 12,392 Reclassification adjustments to profit or (loss) (3,071) (3,052) (2,024) Before tax effects 3,540 (24,478) 10,368 Tax effects (1,083) 7,485 (3,171) Hedging cost ¥ 2,457 ¥ (16,993) ¥ 7,197 Share of other comprehensive income of investments accounted for using the equity method: Amounts arising during the year ¥ (497) ¥ (892) ¥ (1,793) Reclassification adjustments to profit or (loss) — — — Before tax effects (497) (892) (1,793) Tax effects — — — Share of other comprehensive loss of investments accounted for using the equity method ¥ (497) ¥ (892) ¥ (1,793) Total other comprehensive income for the year ¥ 594,261 ¥ 594,535 ¥ 995,009 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |
Schedule of Reconciliation of Changes in Property, Plant and Equipment and Impairment Losses | JPY (millions) Acquisition cost Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Land Construction in progress Total As of April 1, 2022 ¥ 1,288,578 ¥ 772,024 ¥ 135,895 ¥ 98,654 ¥ 157,856 ¥ 2,453,007 Additions and other increases 46,155 25,628 9,025 349 104,059 185,217 Transfers 21,026 37,743 5,962 — (64,731) — Disposals and other decreases (22,876) (16,084) (11,096) (201) (574) (50,830) Reclassification to assets held for sale (Note 19) (14,915) (10,968) (4,013) (5,471) (965) (36,331) Foreign currency translation differences 82,139 43,039 6,093 4,895 11,755 147,922 As of March 31, 2023 ¥ 1,400,108 ¥ 851,382 ¥ 141,867 ¥ 98,227 ¥ 207,400 ¥ 2,698,984 Additions and other increases 158,460 27,662 11,508 5 126,788 324,423 Transfers 26,434 39,784 10,803 — (77,021) — Disposals and other decreases (45,337) (11,583) (10,694) (9) (2,817) (70,440) Reclassification to assets held for sale (Note 19) (9,188) (6,236) (483) (597) (53) (16,558) Foreign currency translation differences 148,576 80,936 11,946 8,220 24,391 274,069 As of March 31, 2024 ¥ 1,679,054 ¥ 981,944 ¥ 164,945 ¥ 105,845 ¥ 278,689 ¥ 3,210,478 Accumulated depreciation and accumulated impairment losses As of April 1, 2022 ¥ (344,123) ¥ (431,287) ¥ (91,491) ¥ (411) ¥ (2,896) ¥ (870,207) Depreciation expenses (72,900) (60,428) (17,052) — — (150,379) Impairment losses (560) (1,410) (121) — (239) (2,331) Disposals and other decreases 5,429 14,207 10,393 195 — 30,224 Reclassification to assets held for sale (Note 19) 8,209 9,276 3,499 — — 20,983 Foreign currency translation differences (15,585) (16,976) (3,435) (28) (21) (36,045) As of March 31, 2023 ¥ (419,530) ¥ (486,618) ¥ (98,207) ¥ (243) ¥ (3,156) ¥ (1,007,755) Depreciation expenses (80,067) (71,588) (18,684) — — (170,339) Impairment losses (1,082) (4,039) (781) — (9,552) (15,454) Disposals and other decreases 22,173 8,682 10,127 — 1,210 42,192 Reclassification to assets held for sale (Note 19) 7,961 5,353 419 — — 13,733 Foreign currency translation differences (36,879) (37,869) (8,058) (30) (242) (83,078) As of March 31, 2024 ¥ (507,425) ¥ (586,080) ¥ (115,184) ¥ (273) ¥ (11,739) ¥ (1,220,701) JPY (millions) Carrying amount Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Land Construction in progress Total As of April 1, 2022 ¥ 944,455 ¥ 340,737 ¥ 44,404 ¥ 98,243 ¥ 154,960 ¥ 1,582,800 As of March 31, 2023 980,578 364,763 43,660 97,983 204,245 1,691,229 As of March 31, 2024 1,171,629 395,865 49,761 105,572 266,950 1,989,777 Takeda recognized the following impairment losses, which are reflected as follows, in the consolidated statements of profit or loss: JPY (millions) 2022 2023 2024 Cost of sales ¥ (261) ¥ (375) ¥ (6,225) Selling, general and administrative expenses (34) (75) — Research and development expenses — — (1,307) Other operating expenses (92) (1,881) (7,923) Total ¥ (388) ¥ (2,331) ¥ (15,454) |
Schedule of Reconciliation of Changes in Right-of-use Assets | The changes in acquisition cost of property, plant and equipment for the years ended March 31, 2023 and 2024 include the following changes in ROU assets: JPY (millions) Acquisition cost of ROU Assets Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Total As of April 1, 2022 ¥ 525,118 ¥ 13,940 ¥ 351 ¥ 539,410 Additions and other increases 31,585 6,828 2 38,416 Disposals and other decreases (21,134) (4,842) (40) (26,016) Foreign currency translation differences 38,016 892 7 38,915 As of March 31, 2023 ¥ 573,585 ¥ 16,818 ¥ 320 ¥ 590,724 Additions and other increases 136,969 7,950 31 144,950 Disposals and other decreases (36,468) (4,840) (33) (41,341) Reclassification to assets held for sale (Note 19) (408) (38) (127) (573) Foreign currency translation differences 68,220 1,988 20 70,228 As of March 31, 2024 ¥ 741,898 ¥ 21,880 ¥ 211 ¥ 763,989 The changes in accumulated depreciation and accumulated impairment losses for the years ended March 31, 2023 and 2024 include the following changes in accumulated depreciation and accumulated impairment losses related to ROU assets: JPY (millions) Accumulated depreciation and accumulated impairment losses of ROU Assets Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Total As of April 1, 2022 ¥ (124,166) ¥ (7,072) ¥ (234) ¥ (131,472) Depreciation expenses (43,260) (4,535) (60) (47,856) Impairment losses (43) — — (43) Disposals and other decreases 4,039 3,999 39 8,077 Foreign currency translation differences (8,719) (429) (9) (9,157) As of March 31, 2023 ¥ (172,149) ¥ (8,037) ¥ (264) ¥ (180,450) Depreciation expenses (45,635) (5,286) (33) (50,954) Disposals and other decreases 17,251 4,221 33 21,505 Reclassification to assets held for sale (Note 19) 405 38 120 562 Foreign currency translation differences (20,368) (865) (16) (21,249) As of March 31, 2024 ¥ (220,496) ¥ (9,930) ¥ (160) ¥ (230,586) The carrying amount of property, plant and equipment includes the carrying amount of following ROU assets: JPY (millions) Carrying amount of ROU Assets Buildings and structures Machinery and vehicles Tools, furniture, and fixtures Total As of April 1, 2022 ¥ 400,952 ¥ 6,868 ¥ 118 ¥ 407,938 As of March 31, 2023 401,437 8,781 56 410,274 As of March 31, 2024 521,403 11,950 51 533,403 |
Schedule of Expenses Related to Leases Not Included in the Measurement of the Lease Liabilities | Takeda recognized expenses related to leases not included in the measurement of the lease liabilities as follows: JPY (millions) 2022 2023 2024 Expense relating to short-term leases ¥ 4,458 ¥ 4,521 ¥ 4,312 Expense relating to leases of low-value assets that are not short-term leases expenses 1,304 1,255 887 Expense relating to variable lease payments 4,006 4,794 10,954 Total expenses not included in lease liabilities ¥ 9,768 ¥ 10,570 ¥ 16,152 Total cash outflow for leases not included in lease liabilities ¥ 9,768 ¥ 10,570 ¥ 16,152 |
Goodwill (Tables)
Goodwill (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Intangible assets and goodwill [abstract] | |
Schedule of Reconciliation of Changes in Goodwill | JPY (millions) For the Year Ended March 31 2023 2024 Acquisition cost As of beginning of the year ¥ 4,407,749 ¥ 4,790,723 Reclassification to assets held for sale (Note 19) (5,951) (6,626) Foreign currency translation differences and others 388,925 625,970 As of end of the year ¥ 4,790,723 ¥ 5,410,067 Carrying amount As of beginning of the year ¥ 4,407,749 ¥ 4,790,723 As of end of the year 4,790,723 5,410,067 JPY (millions) Acquisition cost Software Intangible assets associated with products Other Total As of April 1, 2022 ¥ 182,778 ¥ 6,240,818 ¥ 11,554 ¥ 6,435,150 Additions and other increases 36,984 676,156 295 713,436 Disposals and other decreases (11,798) (126,610) (13) (138,420) Reclassification to assets held for sale (Note 19) (1,012) — — (1,012) Foreign currency translation differences 12,607 533,707 3 546,317 As of March 31, 2023 ¥ 219,559 ¥ 7,324,072 ¥ 11,839 ¥ 7,555,471 Additions and other increases 47,179 124,878 206 172,263 Disposals and other decreases (4,885) (57,869) (149) (62,903) Reclassification to assets held for sale (Note 19) (266) (33,052) — (33,318) Foreign currency translation differences 27,529 942,404 48 969,980 As of March 31, 2024 ¥ 289,116 ¥ 8,300,433 ¥ 11,944 ¥ 8,601,492 Accumulated amortization and As of April 1, 2022 ¥ (76,634) ¥ (2,539,461) ¥ (510) ¥ (2,616,606) Amortization (25,561) (485,465) (30) (511,056) Impairment losses — (57,341) — (57,341) Disposals and other decreases 10,756 101,888 — 112,643 Reclassification to assets held for sale (Note 19) 397 — — 397 Foreign currency translation differences (5,177) (208,672) (2) (213,851) As of March 31, 2023 ¥ (96,220) ¥ (3,189,051) ¥ (542) ¥ (3,285,813) Amortization (32,587) (521,998) (83) (554,668) Impairment losses (3,126) (166,278) — (169,405) Reversal of impairment losses — 35,686 — 35,686 Disposals and other decreases 4,614 57,838 11 62,462 Reclassification to assets held for sale (Note 19) 203 26,558 — 26,761 Foreign currency translation differences (12,366) (429,462) (5) (441,833) As of March 31, 2024 ¥ (139,483) ¥ (4,186,707) ¥ (620) ¥ (4,326,810) Carrying amount As of April 1, 2022 ¥ 106,143 ¥ 3,701,357 ¥ 11,044 ¥ 3,818,544 As of March 31, 2023 123,340 4,135,020 11,297 4,269,657 As of March 31, 2024 149,632 4,113,726 11,324 4,274,682 |
Schedule of Discounted Cash Flows Model | Terminal growth rate and discount rate used in the discounted cash flow models for the impairment tests are as follows: For the Year Ended March 31 2023 2024 Terminal growth rate 0.0% 0.0% Discount rate (post-tax) 6.8% 6.2% |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Intangible assets other than goodwill [abstract] | |
Schedule of Reconciliation of Changes in Intangible Assets | JPY (millions) For the Year Ended March 31 2023 2024 Acquisition cost As of beginning of the year ¥ 4,407,749 ¥ 4,790,723 Reclassification to assets held for sale (Note 19) (5,951) (6,626) Foreign currency translation differences and others 388,925 625,970 As of end of the year ¥ 4,790,723 ¥ 5,410,067 Carrying amount As of beginning of the year ¥ 4,407,749 ¥ 4,790,723 As of end of the year 4,790,723 5,410,067 JPY (millions) Acquisition cost Software Intangible assets associated with products Other Total As of April 1, 2022 ¥ 182,778 ¥ 6,240,818 ¥ 11,554 ¥ 6,435,150 Additions and other increases 36,984 676,156 295 713,436 Disposals and other decreases (11,798) (126,610) (13) (138,420) Reclassification to assets held for sale (Note 19) (1,012) — — (1,012) Foreign currency translation differences 12,607 533,707 3 546,317 As of March 31, 2023 ¥ 219,559 ¥ 7,324,072 ¥ 11,839 ¥ 7,555,471 Additions and other increases 47,179 124,878 206 172,263 Disposals and other decreases (4,885) (57,869) (149) (62,903) Reclassification to assets held for sale (Note 19) (266) (33,052) — (33,318) Foreign currency translation differences 27,529 942,404 48 969,980 As of March 31, 2024 ¥ 289,116 ¥ 8,300,433 ¥ 11,944 ¥ 8,601,492 Accumulated amortization and As of April 1, 2022 ¥ (76,634) ¥ (2,539,461) ¥ (510) ¥ (2,616,606) Amortization (25,561) (485,465) (30) (511,056) Impairment losses — (57,341) — (57,341) Disposals and other decreases 10,756 101,888 — 112,643 Reclassification to assets held for sale (Note 19) 397 — — 397 Foreign currency translation differences (5,177) (208,672) (2) (213,851) As of March 31, 2023 ¥ (96,220) ¥ (3,189,051) ¥ (542) ¥ (3,285,813) Amortization (32,587) (521,998) (83) (554,668) Impairment losses (3,126) (166,278) — (169,405) Reversal of impairment losses — 35,686 — 35,686 Disposals and other decreases 4,614 57,838 11 62,462 Reclassification to assets held for sale (Note 19) 203 26,558 — 26,761 Foreign currency translation differences (12,366) (429,462) (5) (441,833) As of March 31, 2024 ¥ (139,483) ¥ (4,186,707) ¥ (620) ¥ (4,326,810) Carrying amount As of April 1, 2022 ¥ 106,143 ¥ 3,701,357 ¥ 11,044 ¥ 3,818,544 As of March 31, 2023 123,340 4,135,020 11,297 4,269,657 As of March 31, 2024 149,632 4,113,726 11,324 4,274,682 |
Schedule of Intangible Assets Associated with Products | The intangible assets associated with products are comprised of the following: JPY (millions) Marketed products In-process R&D Carrying amount As of April 1, 2022 ¥ 3,389,453 ¥ 311,904 ¥ 3,701,357 As of March 31, 2023 3,164,380 970,640 4,135,020 As of March 31, 2024 3,148,680 965,045 4,113,726 The table below provides information about significant intangible assets. JPY (millions) Carrying amount Remaining amortization period As of March 31 As of March 31 2023 2024 2024 Immunoglobulins Marketed products ¥ 766,459 ¥ 795,903 11 Years TAK-279 In-process R&D 533,999 613,329 - TAKHZYRO Marketed products 546,336 562,434 10 Years ADVATE & ADYNOVATE/ADYNOVI Marketed products 278,463 269,275 6 Years VYVANSE/ELVANSE Marketed products 306,242 223,589 2 Years ALUNBRIG Marketed products 213,706 212,376 7 Years |
Schedule of Significant Assumptions Used to Calculate the Recoverable Amount | For the years ended March 31, 2022 and 2023, the recoverable amount was calculated at value in use and the significant assumptions used are as follows: Discount rate Discount rate For the year ended March 31, 2022 6.5% - 14.0% 8.3% - 17.5% For the year ended March 31, 2023 6.5% - 22.0% 8.6% - 27.5% |
Collaborations, Licensing Arr_2
Collaborations, Licensing Arrangements, and Other Asset Acquisitions (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Collaborations, Licensing Arrangements, and Other Asset Acquisitions [Abstract] | |
Summary of Payments Made Under the Terms of Collaboration and Licensing Arrangements | Under the terms of these collaborations, in-licensing arrangements, and other asset acquisitions, Takeda made the following payments: JPY (millions) For the Year Ended March 31 2022 2023 2024 Initial up-front payments, milestone payments, and other asset acquisitions ¥ 44,944 ¥ 676,156 ¥ 124,878 Acquisition of shares of collaboration and in-licensing partners 785 494 2,050 |
Investments Accounted for Usi_2
Investments Accounted for Using the Equity Method (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Investments accounted for using equity method [abstract] | |
Summary of Financial Information of Equity Method Investments | Financial information for associates accounted for using the equity method is as follows: JPY (millions) 2022 2023 2024 Net profit (loss) for the year ¥ (15,367) ¥ (8,630) ¥ 6,473 Other comprehensive income (loss) (497) (892) (1,793) Total comprehensive income (loss) for the year ¥ (15,863) ¥ (9,522) ¥ 4,681 The carrying amount of the investments in associates accounted for using the equity method is as follows: JPY (millions) 2023 2024 Carrying amount of investments accounted for using the equity method ¥ 99,174 ¥ 89,831 |
Other Financial Assets (Tables)
Other Financial Assets (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Other Financial Assets | JPY (millions) 2023 2024 Derivative assets (Note 27) ¥ 79,654 ¥ 120,223 Investment in convertible notes at fair value through P&L (Note 27) 11,435 13,459 Investment in debt instruments at fair value through P&L (Note 27) 1,063 1,113 Investment in equity instruments at fair value through OCI (Note 27) 157,731 182,887 Financial assets associated with contingent consideration arrangements (Note 27) 23,806 12,293 Other 26,168 25,892 Total ¥ 299,857 ¥ 355,866 Non-current ¥ 279,683 ¥ 340,777 Current ¥ 20,174 ¥ 15,089 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Inventories [Abstract] | |
Schedule of Inventories | JPY (millions) 2023 2024 Finished products and merchandise ¥ 269,042 ¥ 349,590 Work-in-process 436,508 522,667 Raw materials and supplies 280,908 337,612 Total ¥ 986,457 ¥ 1,209,869 |
Trade and Other Receivables (Ta
Trade and Other Receivables (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Trade and other receivables [abstract] | |
Schedule of Trade and Other Receivables | JPY (millions) 2023 2024 Trade receivables ¥ 674,691 ¥ 718,675 Other receivables 73,999 55,964 Impairment loss allowance (7,356) (8,376) Chargebacks and other allowances (91,904) (97,860) Total ¥ 649,429 ¥ 668,403 |
Cash and Cash Equivalents (Tabl
Cash and Cash Equivalents (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Cash and cash equivalents [abstract] | |
Schedule of Cash and Cash Equivalents | JPY (millions) 2023 2024 Cash and deposits ¥ 229,557 ¥ 205,190 Short-term investments 303,973 252,611 Total ¥ 533,530 ¥ 457,800 |
Assets and Disposal Groups He_2
Assets and Disposal Groups Held for Sale (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |
Schedule of Assets Held for Sale and Disposal Groups | Disposal Groups Held for Sale JPY (millions) 2023 2024 Property, plant and equipment ¥ 9,847 ¥ 3,162 Goodwill 3,347 3,745 Intangible assets 402 62 Inventories 1,200 1,242 Trade and other receivables — 767 Deferred tax assets 45 347 Other assets 395 13 Total assets ¥ 15,235 ¥ 9,337 Trade and other payables ¥ — ¥ 660 Deferred tax liabilities — 307 Other liabilities 144 442 Total liabilities ¥ 144 ¥ 1,410 |
Bonds and Loans (Tables)
Bonds and Loans (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Borrowings [abstract] | |
Schedule of Composition of Debt Instruments | JPY (millions) 2023 2024 Bonds ¥ 3,658,314 ¥ 4,092,879 Short-term loans 256 251 Long-term loans 723,772 750,622 Total ¥ 4,382,341 ¥ 4,843,752 Non-current ¥ 4,042,741 ¥ 4,476,501 Current ¥ 339,600 ¥ 367,251 The composition of bonds is as follows: Instrument JPY (millions) Maturity Principal amount in contractual currency (millions) As of As of Interest rate (%) Hybrid subordinated bonds ¥ 500,000 498,876 499,614 1.720% per annum through October 6, 2024 and 6 month LIBOR (5) + margin (1.750-2.750%) thereafter June 2079 2018 EUR Unsecured Senior Notes – fixed rate € 3,000 433,611 487,381 2.250-3.000% November 2026 - November 2030 2018 USD Unsecured Senior Notes – fixed rate $2,250 as of March 31, 2023 $1,750 as of March 31, 2024 298,842 263,701 5.000 % November 2028 (3) Unsecured Senior Notes Assumed in Shire Acquisition $4,000 as of March 31, 2023 $3,000 as of March 31, 2024 515,298 439,725 3.200 % September 2026 (2) Unsecured Senior Notes Assumed in Shire Acquisition $ 1,301 174,239 198,116 4.000-5.250% June 2025 - June 2045 2020 USD Unsecured Senior Notes – fixed rate $ 7,000 928,210 1,053,742 2.050-3.375% March 2030 - July 2060 2020 EUR Unsecured Senior Notes – fixed rate € 3,600 519,808 584,105 0.750-2.000% July 2027 - July 2040 JPY Unsecured Senior Bonds – fixed rate ¥ 250,000 249,429 249,495 0.400% October 2031 Commercial Paper ¥40,000 as of March 31, 2023 ¥317,000 as of March 31, 2024 40,000 317,000 — May 2024 - June 2024 Total ¥ 3,658,314 ¥ 4,092,879 The composition of loans is as follows: Instrument JPY (millions) Maturity Principal amount in contractual currency (millions) As of As of Interest rate (%) Syndicated Loans 2016 ¥200,000 as of March 31, 2023 ¥100,000 as of March 31, 2024 200,000 100,000 0.300 % April 2026 (1) Syndicated Loans 2017 ¥ 113,500 113,500 113,500 0.350% April 2027 USD Syndicated Loans 2017 $ 1,500 199,993 227,018 6 months Term SOFR + 0.42826% (4) + 0.500% April 2027 Syndicated loans 2023 ¥ 100,000 — 100,000 0.679 % April 2030 (1) Bilateral Loans ¥ 210,000 210,000 210,000 0.190–0.815% April 2024-March 2029 Other 534 355 Total ¥ 724,027 ¥ 750,873 |
Other Financial Liabilities (Ta
Other Financial Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Disclosure of financial liabilities [abstract] | |
Schedule of Other Financial Liabilities | JPY (millions) 2023 2024 Derivative liabilities (Note 27) ¥ 40,721 ¥ 25,108 Lease liabilities (Note 27) 479,351 619,639 Financial liabilities associated with programs to sell certain receivables 78,041 79,062 Financial liabilities associated with contingent consideration arrangements (Note 27) 8,139 7,772 Other 113,554 99,673 Total ¥ 719,806 ¥ 831,254 Non-current ¥ 534,269 ¥ 687,833 Current ¥ 185,537 ¥ 143,421 |
Employee Benefits (Tables)
Employee Benefits (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Employee Benefits [Abstract] | |
Summary of Amounts Related to Defined Benefit Pension Plans Recognized in Consolidated Statements of Income | JPY (millions) 2022 2023 2024 Japan ¥ 2,992 ¥ 2,990 ¥ 2,741 Foreign 14,387 13,782 15,956 Defined benefit costs ¥ 17,379 ¥ 16,772 ¥ 18,697 |
Summary of Amounts Related to Defined Benefit Pension Plans Recognized in Consolidated Statements of Financial Position | JPY (millions) As of March 31, 2023 Japan Foreign Total Present value of defined benefit obligations ¥ 153,371 ¥ 247,725 ¥ 401,096 Fair value of plan assets 217,296 128,333 345,630 Effect of asset ceiling 41,311 — 41,311 Net defined benefit liabilities (assets) ¥ (22,614) ¥ 119,392 ¥ 96,777 Consolidated statements of financial position Net defined benefit liabilities ¥ 8,202 ¥ 119,392 ¥ 127,594 Net defined benefit assets 30,816 — 30,816 Net amount of liabilities (assets) recognized in the consolidated statements of financial position ¥ (22,614) ¥ 119,392 ¥ 96,777 JPY (millions) As of March 31, 2024 Japan Foreign Total Present value of defined benefit obligations ¥ 143,712 ¥ 301,078 ¥ 444,790 Fair value of plan assets ¥ 226,229 ¥ 165,514 ¥ 391,743 Effect of asset ceiling 63,422 — 63,422 Net defined benefit liabilities (assets) ¥ (19,096) ¥ 135,564 ¥ 116,469 Consolidated statements of financial position Net defined benefit liabilities ¥ 8,317 ¥ 135,564 ¥ 143,882 Net defined benefit assets 27,413 — 27,413 Net amount of liabilities (assets) recognized in the consolidated statements of financial position ¥ (19,096) ¥ 135,564 ¥ 116,469 |
Summary of Changes in Present Value of the Defined Benefit Obligations | A summary of changes in present value of the defined benefit obligations for the periods presented is as follows: JPY (millions) For the Year Ended March 31, 2023 Japan Foreign Total At beginning of the year ¥ 168,449 ¥ 254,462 ¥ 422,912 Current service cost 3,174 10,787 13,961 Interest cost 1,371 5,838 7,209 Remeasurement of defined benefit pension plans From changes in demographic assumptions 164 102 266 From changes in financial assumptions (10,735) (42,603) (53,338) Experience adjustments 459 3,477 3,935 Past service cost — (38) (38) Benefits paid (9,511) (9,955) (19,467) Contributions by the employees — 3,807 3,807 Foreign currency translation differences — 21,849 21,849 At end of the year ¥ 153,371 ¥ 247,725 ¥ 401,096 JPY (millions) For the Year Ended March 31, 2024 Japan Foreign Total At beginning of the year ¥ 153,371 ¥ 247,725 ¥ 401,096 Current service cost 3,004 11,233 14,236 Interest cost 2,078 9,427 11,505 Remeasurement of defined benefit pension plans From changes in demographic assumptions (341) 197 (143) From changes in financial assumptions (5,508) 11,387 5,879 Experience adjustments 426 (4,628) (4,202) Past service cost — (67) (67) Benefits paid (9,318) (12,939) (22,257) Contributions by the employees — 4,610 4,610 Foreign currency translation differences — 34,132 34,132 At end of the year ¥ 143,712 ¥ 301,078 ¥ 444,790 Changes in effect of asset ceiling for the periods presented are as follows: JPY (millions) 2023 2024 Balance at beginning of the year ¥ 30,953 ¥ 41,311 Interest income 248 549 Remeasurement Changes in effect of asset ceiling 10,110 21,561 Balance at end of the year ¥ 41,311 ¥ 63,422 |
Summary of Significant Actuarial Assumptions Used to Determine Present Value | Significant actuarial assumptions used to determine the present value are as follows: Discount rate Future salary increases As of March 31, 2023 Japan 1.3 % — Foreign 3.4 % 3.0 % As of March 31, 2024 Japan 1.7 % — Foreign 3.0 % 3.1 % |
Schedule of Sensitivity Analysis for Actuarial Assumptions | A 0.5% change in these actuarial assumptions would affect the present value of defined benefit obligations at the end of the reporting period, while holding all other assumptions constant, by the amounts shown below: JPY (millions) Discount Rate Future Salary Increases Change in Impact Change in Impact As of March 31, 2023 Japan +0.50 % (9,235) +0.50 % — -0.50 % 10,000 -0.50 % — Foreign +0.50 % (14,411) +0.50 % 3,578 -0.50 % 15,931 -0.50 % (3,278) As of March 31, 2024 Japan +0.50 % (8,414) +0.50 % — -0.50 % 9,092 -0.50 % — Foreign +0.50 % (17,458) +0.50 % 4,463 -0.50 % 19,599 -0.50 % (4,129) |
Schedule of Changes in Fair Value of Plan Assets and Breakdown by Asset Class | A summary of changes in fair value of plan assets for the periods presented is as follows: JPY (millions) 2023 2024 Balance at beginning of the year ¥ 342,503 ¥ 345,630 Interest income on plan assets 4,608 7,527 Remeasurement of defined benefit plans Return on plan assets (15,712) 15,923 Contributions by the employer 12,769 14,758 Contributions by the employees 3,807 4,610 Benefits paid (13,589) (15,161) Foreign currency translation differences 11,244 18,457 Balance at end of the year ¥ 345,630 ¥ 391,743 The breakdown of fair value by asset class is as follows: JPY (millions) 2023 2024 With quoted prices in active markets No quoted prices in active markets With quoted prices in active markets No quoted prices in active markets Equities: Japan ¥ 9,911 ¥ 2,178 ¥ 11,796 ¥ 2,803 Foreign 38,277 81,265 53,396 86,372 Bonds: Japan 14,567 17,405 399 17,276 Foreign 10,407 33,893 33,153 79,251 Life insurance company general accounts — 70,775 — 70,070 Investment trust funds — 40,026 — — Cash and cash equivalent 7,681 — 10,951 — Others 517 18,727 1,541 24,736 Total plan assets ¥ 81,360 ¥ 264,269 ¥ 111,236 ¥ 280,507 |
Summary of Major Employee Benefits Expenses other than Retirement Benefits | Major employee benefit expenses other than retirement benefits for each fiscal year are as follows: JPY (millions) 2022 2023 2024 Salary ¥ 458,039 ¥ 573,080 ¥ 688,316 Bonuses 127,888 133,792 161,821 Other 187,440 237,857 274,094 |
Provisions (Tables)
Provisions (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Provisions [abstract] | |
Schedule of Reconciliation of Changes in Provisions | The movements in the provisions are as follows: JPY (millions) Litigation (Note 32) Restructuring Rebates and return Other Total As of April 1, 2022 ¥ 42,869 ¥ 13,353 ¥ 404,982 ¥ 34,497 ¥ 495,701 Increases 25,096 7,807 1,005,330 17,095 1,055,328 Decreases (utilized) (3,981) (12,098) (953,287) (16,538) (985,905) Decreases (reversed) (95) (1,066) (25,624) (11,200) (37,985) Foreign currency translation differences 402 956 33,813 2,019 37,190 As of March 31, 2023 ¥ 64,290 ¥ 8,951 ¥ 465,214 ¥ 25,874 ¥ 564,329 Increases 54,679 14,326 956,682 10,864 1,036,551 Decreases (utilized) (93,016) (10,716) (993,456) (12,106) (1,109,294) Decreases (reversed) (6,864) (1,664) (30,307) (5,734) (44,568) Foreign currency translation differences 3,253 1,205 85,127 2,191 91,775 As of March 31, 2024 ¥ 22,342 ¥ 12,102 ¥ 483,259 ¥ 21,089 ¥ 538,793 |
Schedule of Restructuring Expenses | Restructuring expenses recorded for the fiscal years ended March 31, 2022, 2023 and 2024 are as follows: JPY (millions) 2022 2023 2024 Cash: Severance ¥ 15,230 ¥ 10,605 ¥ 13,685 Consulting fees 2,963 12,709 11,528 Other 65,163 33,601 48,622 Total ¥ 83,357 ¥ 56,915 ¥ 73,835 Non-Cash: Depreciation and impairment ¥ 479 ¥ 2,320 ¥ 7,523 Total ¥ 83,836 ¥ 59,234 ¥ 81,358 |
Other Liabilities (Tables)
Other Liabilities (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Subclassifications of assets, liabilities and equities [abstract] | |
Schedule of Other Liabilities | JPY (millions) 2023 2024 Accrued expenses ¥ 531,891 ¥ 627,659 Deferred income 32,103 30,015 Other 68,083 42,439 Total ¥ 632,078 ¥ 700,112 Non-current ¥ 65,389 ¥ 80,938 Current ¥ 566,689 ¥ 619,174 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Trade and other payables [abstract] | |
Schedule of Trade and Other Payables | JPY (millions) 2023 2024 Trade payables ¥ 307,453 ¥ 319,955 Other payables 341,780 227,566 Total ¥ 649,233 ¥ 547,521 |
Equity and Other Equity Items (
Equity and Other Equity Items (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Equity [abstract] | |
Schedule of Shares Activity | Thousands of Shares 2023 2024 Authorized shares as of the beginning of the year 3,500,000 3,500,000 Shares issued: At the beginning of the year 1,582,253 1,582,296 Exercise of stock options 44 123 Issuance of shares — — As of the end of the year 1,582,296 1,582,419 |
Schedule of Dividends Declared and Paid | Dividends declared and paid JPY (millions) Dividends per share JPY Record date Effective date April 1, 2021, to March 31, 2022 Q1 2021 ¥ 141,859 ¥ 90.00 March 31, 2021 June 30, 2021 Q3 2021 142,387 90.00 September 30, 2021 December 1, 2021 April 1, 2022, to March 31, 2023 Q1 2022 140,365 90.00 March 31, 2022 June 30, 2022 Q3 2022 140,474 90.00 September 30, 2022 December 1, 2022 April 1, 2023, to March 31, 2024 Q1 2023 140,475 90.00 March 31, 2023 June 29, 2023 Q3 2023 148,037 94.00 September 30, 2023 December 1, 2023 Dividends declared for which the effective date falls in the following fiscal year are as follows: Dividends declared JPY (millions) Dividends per share JPY Record date Effective date April 1, 2024, to March 31, 2025 Q1 2024 148,041 ¥ 94.00 March 31, 2024 June 27, 2024 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Financial Instruments [Abstract] | |
Schedule of Financial Assets at Fair Value | JPY (millions) As of March 31, 2023 Financial assets measured at amortized Measured at fair value through other comprehensive income Measured at fair value through profit or loss Derivative hedging instruments Other financial liabilities Total Financial assets measured at fair value Other financial assets - Equity instruments ¥ — ¥ 157,731 ¥ — ¥ — ¥ — ¥ 157,731 Derivative financial instruments — — 17,131 62,522 — 79,654 Investments in convertible notes — — 11,435 — — 11,435 Investments in debt instruments — — 1,063 — — 1,063 Financial assets associated with contingent consideration arrangements — — 23,806 — — 23,806 Trade and other receivables — 71,080 — — — 71,080 Total ¥ — ¥ 228,811 ¥ 53,435 ¥ 62,522 ¥ — ¥ 344,769 Financial assets not measured at fair value Other financial assets - Other ¥ 26,168 ¥ — ¥ — ¥ — ¥ — ¥ 26,168 Trade and other receivables 578,349 — — — — 578,349 Cash and cash equivalents 533,530 — — — — 533,530 Total ¥ 1,138,047 ¥ — ¥ — ¥ — ¥ — ¥ 1,138,047 Financial liabilities measured at fair value Other financial liabilities - Derivative financial instruments ¥ — ¥ — ¥ 15,261 ¥ 25,460 ¥ — ¥ 40,721 Financial liabilities associated with contingent consideration arrangements — — 8,139 — — 8,139 Total ¥ — ¥ — ¥ 23,400 ¥ 25,460 ¥ — ¥ 48,860 Financial liabilities not measured at fair value Other financial liabilities - Lease liabilities ¥ — ¥ — ¥ — ¥ — ¥ 479,351 ¥ 479,351 Other — — — — 191,595 191,595 Trade and other payables — — — — 649,233 649,233 Bonds and loans — — — — 4,382,341 4,382,341 Total ¥ — ¥ — ¥ — ¥ — ¥ 5,702,520 ¥ 5,702,520 JPY (millions) As of March 31, 2024 Financial assets measured at amortized Measured at fair value through other comprehensive income Measured at fair value through profit or loss Derivative hedging instruments Other financial liabilities Total Financial assets measured at fair value Other financial assets - Equity instruments ¥ — ¥ 182,887 ¥ — ¥ — ¥ — ¥ 182,887 Derivative financial instruments — — 17,617 102,606 — 120,223 Investments in convertible notes — — 13,459 — — 13,459 Investments in debt instruments — — 1,113 — — 1,113 Financial assets associated with contingent consideration arrangements — — 12,293 — — 12,293 Trade and other receivables — 83,734 — — — 83,734 Total ¥ — ¥ 266,621 ¥ 44,482 ¥ 102,606 ¥ — ¥ 413,709 Financial assets not measured at fair value Other financial assets - Other ¥ 25,892 ¥ — ¥ — ¥ — ¥ — ¥ 25,892 Trade and other receivables 584,669 — — — — 584,669 Cash and cash equivalents 457,800 — — — — 457,800 Total ¥ 1,068,361 ¥ — ¥ — ¥ — ¥ — ¥ 1,068,361 Financial liabilities measured at fair value Other financial liabilities - Derivative financial instruments ¥ — ¥ — ¥ 13,783 ¥ 11,325 ¥ — ¥ 25,108 Financial liabilities associated with contingent consideration arrangements — — 7,772 — — 7,772 Other — — 1,797 — — 1,797 Total ¥ — ¥ — ¥ 23,352 ¥ 11,325 ¥ — ¥ 34,677 Financial liabilities not measured at fair value Other financial liabilities - Lease liabilities ¥ — ¥ — ¥ — ¥ — ¥ 619,639 ¥ 619,639 Other — — — — 176,938 176,938 Trade and other payables — — — — 547,521 547,521 Bonds and loans — — — — 4,843,752 4,843,752 Total ¥ — ¥ — ¥ — ¥ — ¥ 6,187,850 ¥ 6,187,850 |
Schedule of Financial Liabilities at Fair Value | JPY (millions) As of March 31, 2023 Financial assets measured at amortized Measured at fair value through other comprehensive income Measured at fair value through profit or loss Derivative hedging instruments Other financial liabilities Total Financial assets measured at fair value Other financial assets - Equity instruments ¥ — ¥ 157,731 ¥ — ¥ — ¥ — ¥ 157,731 Derivative financial instruments — — 17,131 62,522 — 79,654 Investments in convertible notes — — 11,435 — — 11,435 Investments in debt instruments — — 1,063 — — 1,063 Financial assets associated with contingent consideration arrangements — — 23,806 — — 23,806 Trade and other receivables — 71,080 — — — 71,080 Total ¥ — ¥ 228,811 ¥ 53,435 ¥ 62,522 ¥ — ¥ 344,769 Financial assets not measured at fair value Other financial assets - Other ¥ 26,168 ¥ — ¥ — ¥ — ¥ — ¥ 26,168 Trade and other receivables 578,349 — — — — 578,349 Cash and cash equivalents 533,530 — — — — 533,530 Total ¥ 1,138,047 ¥ — ¥ — ¥ — ¥ — ¥ 1,138,047 Financial liabilities measured at fair value Other financial liabilities - Derivative financial instruments ¥ — ¥ — ¥ 15,261 ¥ 25,460 ¥ — ¥ 40,721 Financial liabilities associated with contingent consideration arrangements — — 8,139 — — 8,139 Total ¥ — ¥ — ¥ 23,400 ¥ 25,460 ¥ — ¥ 48,860 Financial liabilities not measured at fair value Other financial liabilities - Lease liabilities ¥ — ¥ — ¥ — ¥ — ¥ 479,351 ¥ 479,351 Other — — — — 191,595 191,595 Trade and other payables — — — — 649,233 649,233 Bonds and loans — — — — 4,382,341 4,382,341 Total ¥ — ¥ — ¥ — ¥ — ¥ 5,702,520 ¥ 5,702,520 JPY (millions) As of March 31, 2024 Financial assets measured at amortized Measured at fair value through other comprehensive income Measured at fair value through profit or loss Derivative hedging instruments Other financial liabilities Total Financial assets measured at fair value Other financial assets - Equity instruments ¥ — ¥ 182,887 ¥ — ¥ — ¥ — ¥ 182,887 Derivative financial instruments — — 17,617 102,606 — 120,223 Investments in convertible notes — — 13,459 — — 13,459 Investments in debt instruments — — 1,113 — — 1,113 Financial assets associated with contingent consideration arrangements — — 12,293 — — 12,293 Trade and other receivables — 83,734 — — — 83,734 Total ¥ — ¥ 266,621 ¥ 44,482 ¥ 102,606 ¥ — ¥ 413,709 Financial assets not measured at fair value Other financial assets - Other ¥ 25,892 ¥ — ¥ — ¥ — ¥ — ¥ 25,892 Trade and other receivables 584,669 — — — — 584,669 Cash and cash equivalents 457,800 — — — — 457,800 Total ¥ 1,068,361 ¥ — ¥ — ¥ — ¥ — ¥ 1,068,361 Financial liabilities measured at fair value Other financial liabilities - Derivative financial instruments ¥ — ¥ — ¥ 13,783 ¥ 11,325 ¥ — ¥ 25,108 Financial liabilities associated with contingent consideration arrangements — — 7,772 — — 7,772 Other — — 1,797 — — 1,797 Total ¥ — ¥ — ¥ 23,352 ¥ 11,325 ¥ — ¥ 34,677 Financial liabilities not measured at fair value Other financial liabilities - Lease liabilities ¥ — ¥ — ¥ — ¥ — ¥ 619,639 ¥ 619,639 Other — — — — 176,938 176,938 Trade and other payables — — — — 547,521 547,521 Bonds and loans — — — — 4,843,752 4,843,752 Total ¥ — ¥ — ¥ — ¥ — ¥ 6,187,850 ¥ 6,187,850 |
Schedule of Fair Value Measurement of Assets | JPY (millions) As of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Financial assets measured at fair value through profit or loss Derivatives ¥ — ¥ 10,542 ¥ 6,589 ¥ 17,131 Investment in convertible notes — — 11,435 11,435 Investment in debt instruments — — 1,063 1,063 Financial assets associated with contingent consideration arrangements — — 23,806 23,806 Derivatives for which hedge accounting is applied — 62,522 — 62,522 Financial assets measured at fair value through OCI Trade and other receivables — 71,080 — 71,080 Equity instruments 74,495 — 83,236 157,731 Total ¥ 74,495 ¥ 144,144 ¥ 126,129 ¥ 344,769 Liabilities: Financial liabilities measured at fair value through profit or loss Derivatives ¥ — ¥ 8,672 ¥ 6,589 ¥ 15,261 Financial liabilities associated with contingent consideration arrangements — — 8,139 8,139 Derivatives for which hedge accounting is applied — 25,460 — 25,460 Total ¥ — ¥ 34,131 ¥ 14,728 ¥ 48,860 JPY (millions) As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Financial assets measured at fair value through profit or loss Derivatives ¥ — ¥ 8,511 ¥ 9,106 ¥ 17,617 Investment in convertible notes — — 13,459 13,459 Investment in debt instruments — — 1,113 1,113 Financial assets associated with contingent consideration arrangements — — 12,293 12,293 Derivatives for which hedge accounting is applied — 102,606 — 102,606 Financial assets measured at fair value through OCI Trade and other receivables — 83,734 — 83,734 Equity instruments 93,962 — 88,925 182,887 Total ¥ 93,962 ¥ 194,851 ¥ 124,896 ¥ 413,709 Liabilities: Financial liabilities measured at fair value through profit or loss Derivatives ¥ — ¥ 4,677 ¥ 9,106 ¥ 13,783 Financial liabilities associated with contingent consideration arrangements — — 7,772 7,772 Other — — 1,797 1,797 Derivatives for which hedge accounting is applied — 11,325 — 11,325 Total ¥ — ¥ 16,002 ¥ 18,675 ¥ 34,677 JPY (millions) 2023 2024 Financial assets associated with contingent consideration arrangements Equity instruments Financial assets associated with contingent consideration arrangements Equity instruments As of the beginning of the year ¥ 26,852 ¥ 64,263 ¥ 23,806 ¥ 83,236 Changes recognized as finance income (expenses) 1,905 — (702) — Changes in fair value of financial assets associated with contingent consideration due to other elements than time value (3,412) — (12,415) — Changes in fair value of financial assets measured at fair value through OCI and exchange differences on translation of foreign operations 2,182 8,244 1,604 4,900 Settled and received during the period (3,722) — — — Purchases — 8,527 — 1,760 Sales — (22) — (217) Transfers to Level 1 — (1,711) — (5,008) Acquisition from conversion of convertible notes — 1,368 — 4,254 Transfers from investments accounted for using the equity method — 3,404 — — Transfers to investments accounted for using the equity method — (837) — — As of the end of the year ¥ 23,806 ¥ 83,236 ¥ 12,293 ¥ 88,925 |
Schedule of Fair Value Measurement of Liabilities | JPY (millions) As of March 31, 2023 Level 1 Level 2 Level 3 Total Assets: Financial assets measured at fair value through profit or loss Derivatives ¥ — ¥ 10,542 ¥ 6,589 ¥ 17,131 Investment in convertible notes — — 11,435 11,435 Investment in debt instruments — — 1,063 1,063 Financial assets associated with contingent consideration arrangements — — 23,806 23,806 Derivatives for which hedge accounting is applied — 62,522 — 62,522 Financial assets measured at fair value through OCI Trade and other receivables — 71,080 — 71,080 Equity instruments 74,495 — 83,236 157,731 Total ¥ 74,495 ¥ 144,144 ¥ 126,129 ¥ 344,769 Liabilities: Financial liabilities measured at fair value through profit or loss Derivatives ¥ — ¥ 8,672 ¥ 6,589 ¥ 15,261 Financial liabilities associated with contingent consideration arrangements — — 8,139 8,139 Derivatives for which hedge accounting is applied — 25,460 — 25,460 Total ¥ — ¥ 34,131 ¥ 14,728 ¥ 48,860 JPY (millions) As of March 31, 2024 Level 1 Level 2 Level 3 Total Assets: Financial assets measured at fair value through profit or loss Derivatives ¥ — ¥ 8,511 ¥ 9,106 ¥ 17,617 Investment in convertible notes — — 13,459 13,459 Investment in debt instruments — — 1,113 1,113 Financial assets associated with contingent consideration arrangements — — 12,293 12,293 Derivatives for which hedge accounting is applied — 102,606 — 102,606 Financial assets measured at fair value through OCI Trade and other receivables — 83,734 — 83,734 Equity instruments 93,962 — 88,925 182,887 Total ¥ 93,962 ¥ 194,851 ¥ 124,896 ¥ 413,709 Liabilities: Financial liabilities measured at fair value through profit or loss Derivatives ¥ — ¥ 4,677 ¥ 9,106 ¥ 13,783 Financial liabilities associated with contingent consideration arrangements — — 7,772 7,772 Other — — 1,797 1,797 Derivatives for which hedge accounting is applied — 11,325 — 11,325 Total ¥ — ¥ 16,002 ¥ 18,675 ¥ 34,677 |
Schedule of Fair Value of Contingent Consideration Classified as Level 3 | The fair value of financial liabilities associated with contingent consideration arrangements are classified as Level 3 in the fair value hierarchy. The following table shows a reconciliation from the opening balances to the closing balances and payment term for financial liabilities associated with contingent consideration arrangements for the years ended March 31, 2023 and 2024, respectively. There are no significant changes in fair value during the changes in significant assumptions which influence the fair value measurement for financial liabilities associated with contingent consideration arrangements. JPY (millions) 2023 2024 As of the beginning of the year ¥ 5,844 ¥ 8,139 Changes in the fair value during the period 2,605 8,678 Settled and paid during the period (728) (9,032) Foreign currency translation differences 418 (13) As of the end of the year ¥ 8,139 ¥ 7,772 JPY (millions) 2023 2024 Payment term (undiscounted) Within one year ¥ 918 ¥ 2,207 Between one and three years 4,537 3,698 Between three and five years 2,980 1,855 More than five years 1,031 1,171 |
Schedule of Financial Liabilities Not Measured at Fair Value | The carrying amount and fair value of financial instruments that are not measured at fair value in the consolidated statements of financial position are as follows. Fair value information is not provided for financial instruments, if the carrying amount is a reasonable estimate of fair value due to the relatively short period of maturity of these instruments. JPY (millions) 2023 2024 Carrying amount Fair value Carrying amount Fair value Bonds ¥ 3,618,314 ¥ 3,291,147 ¥ 3,775,879 ¥ 3,420,668 Long-term loans 723,772 721,419 750,622 746,831 |
Schedule of Derivative Assets and Liabilities | JPY (millions) As of March 31, 2023 Contract amount Contract amount to be settled in more than one year Fair value Forward exchange contracts: Selling: Euro ¥ 975,368 ¥ — ¥ (4,799) United States Dollar 179,942 — (341) Buying: Euro 1,056,070 — 31 Currency swaps: Buying: United States Dollar 717,114 717,114 41,044 JPY (millions) As of March 31, 2024 Contract amount Contract amount to be settled in more than one year Fair value Forward exchange contracts: Selling: Euro ¥ 710,301 ¥ — ¥ (9,663) United States Dollar 170,364 — (2,618) Buying: Euro 336,271 — 6,268 Currency swaps: Buying: United States Dollar 874,974 874,974 95,368 JPY (millions) As of March 31 Contract amount Contract amount to be settled in more than one year Fair value 2023 ¥ 1,098,862 ¥ 1,048,862 ¥ 44,042 2024 1,322,069 1,052,069 101,128 The following tables represent the items designated as hedging instruments, amounts within other components of equity related to items designated as hedged items and amounts of changes in fair value of hedging instruments recorded in other comprehensive income and the amounts reclassified from the hedging reserve to profit or loss as of and for the year ended March 31, 2023: JPY (millions) As of March 31, 2023 Notional Carrying amount – assets Carrying amount – liabilities Line item in the statement of financial position where hedging instrument is included Average rate used for the fair value of the hedging instrument Cash flow hedges Interest risk Interest rate swaps USD 575 million ¥ 5,148 ¥ — Other financial assets 2.83 % JPY 75,000 million — 50 Other financial liabilities 0.56 % Forward interest rate JPY 230,000 million — 2,100 Other financial liabilities 0.54 % Currency and interest risk Currency and interest rate swaps USD 6,675 million 55,223 14,179 Other financial assets /liabilities 107.43 JPY 1.85% Net investment hedges Foreign currency denominated bonds and loans USD 4,086 million — 545,327 Bonds and loans EUR 6,591 million — 957,993 Bonds and loans Forward exchange contracts USD 1,368 million 728 1,069 Other financial assets /liabilities EUR 4,384 million 1,424 8,062 Other financial assets /liabilities JPY (millions) As of March 31, 2023 Balance in cash flow hedges and net investment hedges Balance in hedge cost reserve Cash flow hedges Interest risk Interest rate swaps ¥ 2,948 ¥ — Forward interest rate (21,182) — Currency and interest risk Currency and interest rate swaps (72,678) (23,127) Currency risk Hedge related to acquisition 3,560 — Net investment hedges Foreign currency denominated bonds and loans 188,343 — Forward exchange contracts 80,584 — JPY (millions) For the year ended March 31, 2023 Amounts recognized in OCI Amount reclassified to profit or loss Change in fair value of hedging instruments Hedging costs Cash flow hedge Hedging costs Line item in which reclassification adjustment is included Cash flow hedges Interest risk Interest rate swaps ¥ 3,993 ¥ — ¥ (360) ¥ — Finance income Forward interest rate (2,123) — 2,312 — Finance expenses Currency and interest risk Currency and interest rate swaps 54,566 (21,426) (89,289) (3,052) Finance income and Finance expenses Net investment hedges Foreign currency denominated bonds and loans 142,456 — — — Forward exchange contracts 25,806 — — — The following tables represent the items designated as hedging instruments, amounts within other components of equity related to items designated as hedged items and amounts of changes in fair value of hedging instruments recorded in other comprehensive income and the amounts reclassified from the hedging reserve to profit or loss as of and for the year ended March 31, 2024: JPY (millions) As of March 31, 2024 Notional Carrying amount – assets Carrying amount – liabilities Line item in the statement of financial position where hedging instrument is included Average rate used for the fair value of the hedging instrument Cash flow hedges Interest risk Interest rate swaps USD 575 million ¥ 7,172 ¥ — Other financial assets 2.83 % JPY 90,000 million 33 0 Other financial assets /liabilities 0.57 % Forward interest rate JPY 270,000 million 34 1,477 Other financial assets /liabilities 0.53 % Currency and interest risk Currency and interest rate swaps USD 6,675 million 95,368 — Other financial assets 131.08 JPY (0.09)% Net investment hedges Foreign currency denominated bonds and loans USD 3,581 million — 542,399 Bonds and loans EUR 6,628 million — 1,081,796 Bonds and loans Forward exchange contracts USD 1,168 million — 2,618 Other financial liabilities EUR 1,000 million — 7,229 Other financial liabilities JPY (millions) As of March 31, 2024 Balance in cash flow hedges and net investment hedges Balance in hedge cost reserve Cash flow hedges Interest risk Interest rate swaps ¥ 4,063 ¥ — Forward interest rate (19,283) — Currency and interest risk Currency and interest rate swaps (52,236) (15,930) Currency risk Hedge related to acquisition 3,560 — Net investment hedges Foreign currency denominated bonds and loans 344,866 — Forward exchange contracts 189,796 — JPY (millions) For the year ended March 31, 2024 Amounts recognized in OCI Amount reclassified to profit or loss Change in fair value of hedging instruments Hedging costs Cash flow hedge Hedging costs Line item in which reclassification adjustment is included Cash flow hedges Interest risk Interest rate swaps ¥ 4,098 ¥ — ¥ (2,492) ¥ — Finance income Forward interest rate 387 — 2,349 — Finance expenses Currency and interest risk Currency and interest rate swaps 166,574 12,392 (137,122) (2,024) Finance income and Finance expenses Net investment hedges Foreign currency denominated bonds and loans 169,111 — — — Forward exchange contracts 109,212 — — — |
Schedule of Age of Trade Receivables that are Past Due but not Impaired and Analysis of Impairment Analysis | The following represents the carrying amount of the trade receivables categorized by due date and the analysis of impairment loss allowance as of March 31, 2023 and 2024: JPY (millions) except for percentage As of March 31, 2023 Amount past due Current Within 30 Over 30 days but within 60 days Over 60 days but within 90 days Over 90 days but within one year Over one Total Gross carrying amount ¥ 499,795 ¥ 23,676 ¥ 14,999 ¥ 8,975 ¥ 19,912 ¥ 15,430 ¥ 582,787 Impairment loss allowance (2,219) (66) (66) (33) (694) (4,278) (7,356) Net carrying amount 497,576 23,610 14,933 8,942 19,218 11,152 575,431 Weighted average loss rate (%) 0.4 % 0.3 % 0.4 % 0.4 % 3.5 % 27.7 % 1.3 % JPY (millions) except for percentage As of March 31, 2024 Amount past due Current Within 30 Over 30 days but within 60 days Over 60 days but within 90 days Over 90 days but within one year Over one Total Gross carrying amount ¥ 527,383 ¥ 34,960 ¥ 12,645 ¥ 3,956 ¥ 21,492 ¥ 20,379 ¥ 620,815 Impairment loss allowance (2,482) (107) (143) (99) (450) (5,095) (8,376) Net carrying amount 524,901 34,853 12,502 3,857 21,042 15,284 612,439 Weighted average loss rate (%) 0.5 % 0.3 % 1.1 % 2.5 % 2.1 % 25.0 % 1.3 % |
Summary of Increase (Decrease) in Loss Allowance for Trade Receivables | The following is a summary of the change in the impairment loss allowance for trade receivables for the years ended March 31, 2023 and 2024. The impairment loss allowance recognized for other than trade receivables is immaterial. JPY (millions) Bad debt provision Bad debt provision Total As of April 1, 2022 ¥ 3,411 ¥ 5,979 ¥ 9,390 Increases 92 190 282 Decreases (written off) (719) (2,509) (3,228) Decreases (reversed) (119) (213) (332) Foreign currency translation differences 662 582 1,244 As of March 31, 2023 ¥ 3,327 ¥ 4,029 ¥ 7,356 Increases 857 561 1,419 Decreases (written off) (437) (377) (814) Decreases (reversed) (324) (231) (555) Foreign currency translation differences 410 561 971 As of March 31, 2024 ¥ 3,833 ¥ 4,543 ¥ 8,376 |
Schedule of Derivative Financial Liabilities by Maturity | The table below presents the balances of financial liabilities by maturity. The total contract amount below reflects cash flows presented on an undiscounted cash flow basis, including interest expense. The amounts disclosed as of March 31, 2023 and 2024 are undiscounted cash flows using the respective spot foreign exchange rates as of March 31, 2023 and 2024. JPY (millions) Carrying amount Total Within one year Between one and two years Between two and three years Between three and four years Between four and five years More than five years As of March 31, 2023 Bonds and loans Bonds ¥ 3,658,314 ¥ 4,640,222 ¥ 331,223 ¥ 586,179 ¥ 182,261 ¥ 685,321 ¥ 164,573 ¥ 2,690,665 Loans 724,027 767,558 113,404 60,482 92,999 107,483 317,706 75,484 Trade and other payables 649,233 649,233 649,233 — — — — — Lease liabilities 479,351 665,983 59,623 56,009 51,229 46,111 41,281 411,730 Derivative liabilities 40,721 (64,835) 15,858 (509) (2,324) (2,231) (2,243) (73,386) Derivative assets (79,654) (234,200) (28,814) (17,443) (13,297) (13,302) (33,858) (127,486) As of March 31, 2024 Bonds and loans Bonds ¥ 4,092,879 ¥ 5,090,592 ¥ 913,282 ¥ 206,481 ¥ 774,784 ¥ 185,176 ¥ 326,949 ¥ 2,683,919 Loans 750,873 805,847 66,983 100,467 113,605 347,612 76,162 101,019 Trade and other payables 547,521 547,521 547,521 — — — — — Lease liabilities 619,639 900,755 66,208 60,944 55,831 53,459 51,235 613,078 Derivative liabilities 25,108 27,590 16,547 762 1,053 1,113 1,096 7,019 Derivative assets (120,223) (400,354) (56,538) (40,327) (39,186) (73,404) (35,218) (155,681) |
Schedule of Non-Derivative Financial Liabilities by Maturity | The table below presents the balances of financial liabilities by maturity. The total contract amount below reflects cash flows presented on an undiscounted cash flow basis, including interest expense. The amounts disclosed as of March 31, 2023 and 2024 are undiscounted cash flows using the respective spot foreign exchange rates as of March 31, 2023 and 2024. JPY (millions) Carrying amount Total Within one year Between one and two years Between two and three years Between three and four years Between four and five years More than five years As of March 31, 2023 Bonds and loans Bonds ¥ 3,658,314 ¥ 4,640,222 ¥ 331,223 ¥ 586,179 ¥ 182,261 ¥ 685,321 ¥ 164,573 ¥ 2,690,665 Loans 724,027 767,558 113,404 60,482 92,999 107,483 317,706 75,484 Trade and other payables 649,233 649,233 649,233 — — — — — Lease liabilities 479,351 665,983 59,623 56,009 51,229 46,111 41,281 411,730 Derivative liabilities 40,721 (64,835) 15,858 (509) (2,324) (2,231) (2,243) (73,386) Derivative assets (79,654) (234,200) (28,814) (17,443) (13,297) (13,302) (33,858) (127,486) As of March 31, 2024 Bonds and loans Bonds ¥ 4,092,879 ¥ 5,090,592 ¥ 913,282 ¥ 206,481 ¥ 774,784 ¥ 185,176 ¥ 326,949 ¥ 2,683,919 Loans 750,873 805,847 66,983 100,467 113,605 347,612 76,162 101,019 Trade and other payables 547,521 547,521 547,521 — — — — — Lease liabilities 619,639 900,755 66,208 60,944 55,831 53,459 51,235 613,078 Derivative liabilities 25,108 27,590 16,547 762 1,053 1,113 1,096 7,019 Derivative assets (120,223) (400,354) (56,538) (40,327) (39,186) (73,404) (35,218) (155,681) |
Schedule of Reconciliation of Liabilities Arising from Financing Activities | Reconciliation of liabilities arising from financing activities JPY (millions) Bonds Long-term loans Short-term loans Lease liabilities Derivative assets used for hedge of debts Derivative liabilities used for hedge of debts Total As of April 1, 2022 ¥ 3,637,355 ¥ 707,770 ¥ 285 ¥ 465,238 ¥ (22,749) ¥ 14,063 ¥ 4,801,964 Cash flows from financing activities Net increase (decrease) in short-term 40,000 — — — — — 40,000 Proceeds from issuance of bonds — 75,000 — — — — 75,000 Repayments of long-term loans — (75,181) — — — — (75,181) Repayments of bonds (281,489) — — — — — (281,489) Repayments of lease liabilities — — — (43,401) — — (43,401) Interest paid — — — (16,580) — — (16,580) Non-cash items Foreign exchange movement 253,390 16,135 25 32,173 — — 301,723 Change in fair value — — — — (32,474) 116 (32,358) New, amended and terminated leases — — — 25,341 — — 25,341 Others 9,058 48 (54) 16,580 — — 25,632 As of March 31, 2023 ¥ 3,658,314 ¥ 723,772 ¥ 256 ¥ 479,351 ¥ (55,223) ¥ 14,179 ¥ 4,820,649 JPY (millions) Bonds Long-term loans Short-term loans Lease liabilities Derivative assets used for hedge of debts Derivative liabilities used for hedge of debts Total As of April 1, 2023 ¥ 3,658,314 ¥ 723,772 ¥ 256 ¥ 479,351 ¥ (55,223) ¥ 14,179 ¥ 4,820,649 Cash flows from financing activities Net increase (decrease) in short-term 277,000 — — — — — 277,000 Proceeds from long-term loans — 100,000 — — — — 100,000 Repayments of long-term loans — (100,351) — — — — (100,351) Repayments of bonds (220,550) — — — — — (220,550) Proceeds from the settlement of cross currency interest rate swaps related to bonds — — — — 60,063 — 60,063 Repayments of lease liabilities — — — (54,586) — — (54,586) Interest paid — — — (20,826) — — (20,826) Non-cash items Foreign exchange movement 369,442 27,686 39 58,169 — — 455,336 Change in fair value — — — — (100,207) (14,179) (114,386) New, amended and terminated leases — — — 136,705 — — 136,705 Others 8,673 (485) (44) 20,826 — — 28,970 As of March 31, 2024 ¥ 4,092,879 ¥ 750,622 ¥ 251 ¥ 619,639 ¥ (95,368) ¥ — ¥ 5,368,024 Others includes an increase in debts due to application of amortized cost method. |
Share-based Payments (Tables)
Share-based Payments (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock Option Activities | The following table summarizes the stock option activity: For the Year Ended March 31 2022 2023 2024 Number of options (shares) Weighted average exercise price (JPY) Number of options (shares) Weighted average exercise price (JPY) Number of options (shares) Weighted average exercise price (JPY) As of beginning of the year 3,357,200 ¥ 4,082 3,347,100 ¥ 4,094 3,303,600 ¥ 4,111 Exercised (10,100) 1 (43,500) 2,802 (122,700) 3,464 As of end of the year 3,347,100 4,094 3,303,600 4,111 3,180,900 4,136 |
Summary of Weighted Average Fair Value of Awards at Grant Date | The weighted average fair value of the awards at the grant date is as follows (in JPY): For the Year Ended March 31 2022 2023 2024 BIP: Weighted average fair value at grant date ¥ 3,738 ¥ 3,759 ¥ 4,527 ESOP: Weighted average fair value at grant date 3,738 3,759 4,527 Equity-Settled LTIP: Weighted average fair value at grant date 1,877 (USD16.90 in contractual currency) 1,909 (USD14.09 in contractual currency) 2,273 (USD15.71 in contractual currency) |
Schedule of Award Activity related to Other Awards | The following table summarizes the award activity related to the BIP (the number of awards) (1 award represents 1 share of the Company's common stock), ESOP (the number of awards) (1 award represents 1 share of the Company's common stock) and Equity-settled LTIP (the number of awards) (1 award represents 1 share of the ADS). One ADS equals 0.5 of the Company's common stock: For the Year Ended March 31 2022 2023 2024 BIP ESOP Equity-Settled LTIP BIP ESOP Equity-Settled LTIP BIP ESOP Equity-Settled LTIP At beginning of the year 1,035,843 7,751,952 23,412,994 1,216,361 3,372,452 40,861,734 1,311,989 773,844 59,752,598 Granted 536,121 534,437 29,211,506 544,491 450,340 38,897,622 338,189 363,559 36,531,621 Forfeited/expired before vesting — (552,490) (4,270,590) (13,554) (96,015) (4,682,948) — (39,545) (4,747,804) Vested (355,603) (4,361,447) (7,466,212) (435,309) (2,949,200) (15,237,880) (450,206) (351,096) (25,916,216) Transfer to Cash-Settled LTIP — — (25,964) — — (85,930) — — (209,715) Transfer to Cash-Settled RSU — — — — (3,733) — — — — At end of the year 1,216,361 3,372,452 40,861,734 1,311,989 773,844 59,752,598 1,199,972 746,762 65,410,484 The following table summarizes the award activity related to the PSARs (the number of awards) (1 award represents 1 share of the Company's common stock) : For the Year Ended March 31 2022 2023 2024 Number of PSARs Weighted average exercise price Number of PSARs Weighted average exercise price Number of PSARs Weighted average exercise price As of beginning of the year 2,270,439 ¥ 4,997 1,471,095 ¥ 5,481 217,530 ¥ 5,956 Forfeited/expired after vesting (799,344) 5,134 (1,253,565) 6,054 (217,530) 6,428 As of end of the year 1,471,095 5,481 217,530 5,956 — — The following table summarizes the award activity related to the RSUs (the number of awards) (1 award represents 1 share of the Company’s common stock): For the Year Ended March 31 2022 2023 2024 As of the beginning of the year 778,451 317,734 — Forfeited/expired before vesting (62,649) (8,208) — Vested (398,068) (313,259) — Transfer from Equity-Settled ESOP — 3,733 — As of the end of the year 317,734 — — The following table summarizes the award activity related to the Cash-Settled LTIP Awards (the number of awards) (1 award represents 1 ADS): For the Year Ended March 31 2022 2023 2024 As of the beginning of the year 262,994 296,640 367,642 Granted 153,604 213,224 197,798 Forfeited/expired before vesting (25,682) (30,372) (38,245) Vested (120,240) (197,780) (341,148) Transfer from Equity-Settled LTIP 25,964 85,930 209,715 As of the end of the year 296,640 367,642 395,762 |
Subsidiaries and Associates (Ta
Subsidiaries and Associates (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Interests In Other Entities [Abstract] | |
Summary of Consolidated Subsidiaries | The following is a listing of the Company’s consolidated subsidiaries (including partnerships): 169 subsidiaries as of March 31, 2024 Company name Country Ownership of Voting Rights (%) Takeda Argentina S.A. Argentina 100.0% Takeda Austria GmbH Austria 100.0% Takeda Manufacturing Austria AG Austria 100.0% Baxalta Innovations GmbH Austria 100.0% Takeda Distribuidora Ltda. Brazil 100.0% Takeda Pharma Ltda. Brazil 100.0% Takeda Canada Inc. Canada 100.0% Takeda APAC Biopharmaceutical Research and Development Co., Ltd. China 100.0% Takeda (China) Holdings Co., Ltd. China 100.0% Takeda (China) International Trading Co., Ltd. China 100.0% Tianjin Takeda Pharmaceuticals Co., Ltd China 100.0% Takeda France S.A.S. France 100.0% Takeda GmbH Germany 100.0% Takeda Ireland Limited Ireland 100.0% Shire Pharmaceuticals International Unlimited Company Ireland 100.0% Shire Acquisitions Investments Ireland Designated Activity Company Ireland 100.0% Shire Ireland Finance Trading Limited Ireland 100.0% Takeda Italia S.p.A. Italy 100.0% Takeda Pharmaceuticals Korea Co., Ltd. Korea 100.0% Takeda Mexico S.A.de C.V. Mexico 100.0% Takeda Nederland B.V. Netherlands 100.0% Takeda Pharmaceuticals Limited Liability Company Russia 100.0% Takeda Development Center Asia, Pte. Ltd. Singapore 100.0% Takeda Manufacturing Singapore Pte. Ltd. Singapore 100.0% Takeda Farmaceutica Espana S.A. Spain 100.0% Takeda Pharma AB Sweden 100.0% Takeda Pharmaceuticals International AG Switzerland 100.0% Baxalta Manufacturing S.à r.l. Switzerland 100.0% Takeda Pharma AG Switzerland 100.0% Takeda UK Limited United Kingdom 100.0% Takeda Pharmaceuticals U.S.A., Inc. U.S. 100.0% ARIAD Pharmaceuticals, Inc. U.S. 100.0% Takeda Vaccines, Inc. U.S. 100.0% Takeda Development Center Americas, Inc. U.S. 100.0% Baxalta Incorporated U.S. 100.0% Dyax Corp. U.S. 100.0% Takeda Ventures, Inc. U.S. 100.0% Baxalta US Inc. U.S. 100.0% Company name Country Ownership of Voting Rights (%) Shire Human Genetic Therapies, Inc. U.S. 100.0% BioLife Plasma Services LP U.S. 100.0% Takeda Manufacturing U.S.A., Inc. U.S. 100.0% Other 128 subsidiaries |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Mar. 31, 2024 | |
Related party transactions [abstract] | |
Schedule of Transactions between Related Parties | The compensation for key management personnel is as follows: JPY (millions) 2022 2023 2024 Basic compensation and bonuses ¥ 1,614 ¥ 1,640 ¥ 1,839 Share-based compensation (expensed amount) 2,547 2,403 2,749 Other 38 43 85 Total ¥ 4,199 ¥ 4,085 ¥ 4,673 |
Material Accounting Policies -
Material Accounting Policies - Property, Plant and Equipment (Details) | 12 Months Ended |
Mar. 31, 2024 | |
Buildings and structures | Bottom of range | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of major asset items | 3 years |
Buildings and structures | Top of range | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of major asset items | 50 years |
Machinery and vehicles | Bottom of range | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of major asset items | 2 years |
Machinery and vehicles | Top of range | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of major asset items | 20 years |
Tools, furniture, and fixtures | Bottom of range | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of major asset items | 2 years |
Tools, furniture, and fixtures | Top of range | |
Disclosure of detailed information about property, plant and equipment [line items] | |
Estimated useful life of major asset items | 20 years |
Material Accounting Policies _2
Material Accounting Policies - Intangible Assets (Details) | 12 Months Ended |
Mar. 31, 2024 | |
Marketed Products | Bottom of range | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life of intangible asset | 3 years |
Marketed Products | Top of range | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life of intangible asset | 20 years |
Software | Bottom of range | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life of intangible asset | 3 years |
Software | Top of range | |
Disclosure of detailed information about intangible assets [line items] | |
Estimated useful life of intangible asset | 10 years |
Operating Segment and Revenue_3
Operating Segment and Revenue Information - Schedule of Revenue by Type of Good or Service (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | ¥ 4,263,762 | ¥ 4,027,478 | ¥ 3,569,006 |
Sales of pharmaceutical products | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 4,163,652 | 3,922,280 | 3,295,723 |
Out-licensing and service income | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | ¥ 100,110 | ¥ 105,198 | ¥ 273,283 |
Operating Segment and Revenue_4
Operating Segment and Revenue Information - Schedule of Revenue by Therapeutic Area and Product (Details) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 JPY (¥) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2022 JPY (¥) product | |
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | ¥ 4,263,762 | ¥ 4,027,478 | ¥ 3,569,006 |
Total Gastroenterology | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 1,216,207 | 1,094,541 | 875,685 |
ENTYVIO | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 800,919 | 702,744 | 521,778 |
GATTEX/REVESTIVE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 119,252 | 93,076 | 75,751 |
TAKECAB/VOCINTI | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 118,526 | 108,719 | 102,397 |
PANTOLOC/CONTROLOC | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 46,495 | 45,518 | 40,275 |
DEXILANT | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 45,278 | 69,371 | 50,763 |
ALOFISEL | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 3,513 | 2,725 | 1,843 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 82,226 | 72,388 | 82,877 |
Total Rare Hematology | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 305,297 | 304,718 | 283,689 |
ADVATE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 122,911 | 118,188 | 118,491 |
ADYNOVATE/ADYNOVI | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 66,308 | 66,553 | 60,726 |
FEIBA | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 40,543 | 41,268 | 39,162 |
VONVENDI | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 16,188 | 12,217 | 8,774 |
RECOMBINATE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 12,050 | 12,762 | 12,297 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 47,298 | 53,730 | 44,239 |
Total Rare Genetics and Other | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 465,403 | 418,724 | 327,507 |
TAKHZYRO | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 178,677 | 151,800 | 103,242 |
ELAPRASE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 91,561 | 85,321 | 73,119 |
REPLAGAL | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 73,553 | 66,741 | 51,714 |
VPRIV | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 51,295 | 48,372 | 42,408 |
LIVTENCITY | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 19,085 | 10,501 | 1,325 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 51,232 | 55,989 | 55,698 |
Total Rare Diseases | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 770,701 | 723,442 | 611,196 |
Total Rare Diseases | Pro Forma | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 688,423 | 639,774 | 531,098 |
Total PDT Immunology | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 818,570 | 678,443 | 506,951 |
immunoglobulin | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 644,587 | 522,211 | 385,864 |
albumin | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 133,990 | 121,446 | 90,035 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 39,993 | 34,786 | 31,052 |
Total Oncology | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 462,362 | 438,742 | 468,730 |
ADCETRIS | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 109,425 | 83,937 | 69,190 |
LEUPLIN/ENANTONE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 107,350 | 111,311 | 106,459 |
NINLARO | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 87,361 | 92,691 | 91,203 |
ICLUSIG | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 54,706 | 47,206 | 34,860 |
ALUNBRIG | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 28,524 | 20,556 | 13,644 |
FRUZAQLA | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 10,080 | 0 | 0 |
VELCADE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 5,539 | 27,759 | 110,046 |
EXKIVITY | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 3,459 | 3,732 | 962 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 55,917 | 51,551 | 42,367 |
Total Neuroscience | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 627,014 | 637,711 | 482,294 |
VYVANSE/ELVANSE | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 423,221 | 459,289 | 327,052 |
TRINTELLIX | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 104,797 | 100,081 | 82,315 |
Adderall XR | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 41,756 | 28,594 | 20,885 |
Intuniv | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 33,555 | 16,354 | 18,938 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 23,686 | 33,393 | 33,104 |
Total Other | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 368,908 | 454,598 | 624,150 |
Total Other | Pro Forma | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 315,701 | 372,685 | 566,403 |
AZILVA-F | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 33,636 | 72,897 | 76,297 |
Fosrenol | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 13,529 | 13,532 | 13,612 |
Others | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 321,743 | 368,168 | 534,242 |
Diabetes | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | ¥ 133,043 | ||
Number of products sold | product | 4 | ||
Plasma-Derived Therapies | Pro Forma | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | 903,699 | 765,359 | ¥ 589,571 |
Vaccines | Pro Forma | |||
Disclosure of products and services [line items] | |||
Revenue from contracts with customers | ¥ 50,355 | ¥ 78,664 | ¥ 55,225 |
Operating Segment and Revenue_5
Operating Segment and Revenue Information - Schedule of Geographic Information (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | ¥ 4,263,762 | ¥ 4,027,478 | ¥ 3,569,006 |
Non-current assets | 11,698,327 | 10,784,117 | |
Japan | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 451,391 | 512,043 | 658,983 |
Non-current assets | 366,276 | 373,133 | |
U.S. | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 2,195,711 | 2,103,772 | 1,714,421 |
Non-current assets | 8,223,949 | 7,560,491 | |
Europe and Canada | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 966,835 | 842,668 | 739,168 |
Asia (excluding Japan) | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 261,218 | 225,007 | 196,964 |
Latin America | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 198,100 | 160,375 | 128,467 |
Russia/CIS | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 72,594 | 88,431 | 62,057 |
Ireland | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | 885,496 | 792,382 | |
Switzerland | |||
Disclosure of geographical areas [line items] | |||
Non-current assets | 860,795 | 799,325 | |
Other | |||
Disclosure of geographical areas [line items] | |||
Revenue from contracts with customers | 117,911 | 95,182 | ¥ 68,945 |
Non-current assets | ¥ 1,361,811 | ¥ 1,258,787 |
Operating Segment and Revenue_6
Operating Segment and Revenue Information - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of major customers [line items] | |||
Revenue from contracts with customers | ¥ 4,263,762 | ¥ 4,027,478 | ¥ 3,569,006 |
Revenue that was included in contract liability balance at beginning of period | 5,526 | 49,319 | 30,022 |
Revenue from performance obligations satisfied or partially satisfied in previous periods | 80,794 | 79,251 | 49,220 |
AmerisourceBergen Group | Customer risk concentration, net sales | |||
Disclosure of major customers [line items] | |||
Revenue from contracts with customers | 579,065 | 575,294 | 504,487 |
McKesson Group | Customer risk concentration, net sales | |||
Disclosure of major customers [line items] | |||
Revenue from contracts with customers | 578,767 | 540,356 | ¥ 406,709 |
Cardinal Health Group | Customer risk concentration, net sales | |||
Disclosure of major customers [line items] | |||
Revenue from contracts with customers | ¥ 436,951 | ¥ 424,527 |
Operating Segment and Revenue_7
Operating Segment and Revenue Information - Schedule of Contract Balances (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Receivables from contracts with customers | ||
Trade receivables | ¥ 612,439 | ¥ 575,431 |
Contract assets | ||
Unbilled receivables | 2,574 | 2,628 |
Contract liabilities | ||
Deferred income | 8,259 | 8,609 |
Advance payments | ¥ 45 | ¥ 19 |
Operating Segment and Revenue_8
Operating Segment and Revenue Information - Schedule of Transaction Price Allocated to the Remaining Performance Obligations (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Contract liabilities | ¥ 8,304 | ¥ 8,628 |
Within one year | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Contract liabilities | 6,119 | 6,394 |
Between one and five years | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Contract liabilities | 517 | 458 |
More than five years | ||
Disclosure of transaction price allocated to remaining performance obligations [line items] | ||
Contract liabilities | ¥ 1,668 | ¥ 1,775 |
Other Operating Income and Ex_3
Other Operating Income and Expenses - Schedule of Other Operating Income and Expenses (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Other operating income: | |||
Change in fair value of financial assets and liabilities associated with contingent consideration arrangements | ¥ 0 | ¥ 0 | ¥ 11,195 |
Gain on sales of property, plant and equipment and investment property | 144 | 2,094 | 1,148 |
Gain on divestment of business to Teva Takeda Yakuhin | 7,832 | 6,807 | 7,829 |
Gain on divestment of business and subsidiaries | 7,243 | 0 | 5,602 |
Change in estimate of liabilities related to SHP647 | 0 | 4,102 | 0 |
Other | 11,404 | 12,421 | 23,762 |
Other operating income | 19,379 | 25,424 | 43,123 |
Other operating expenses: | |||
Donations and contributions | 7,009 | 7,685 | 8,255 |
Restructuring expenses | 81,358 | 59,234 | 83,836 |
Change in fair value of financial assets associated with contingent consideration arrangements | 20,757 | 3,991 | 0 |
Valuation reserve for pre-launch inventories | 11,052 | 9,466 | 20,723 |
Impairment of assets held for sale | 1,685 | 4,693 | 0 |
Other | 84,666 | 60,178 | 46,261 |
Total | 206,527 | 145,247 | 159,075 |
Teva Takeda Pharma Ltd. | |||
Other operating income: | |||
Gain on divestment of business to Teva Takeda Yakuhin | ¥ 588 | ¥ 6,807 | ¥ 1,414 |
Other Operating Income and Ex_4
Other Operating Income and Expenses - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of other provisions [line items] | |||
Gains on litigation settlements | ¥ 8,487 | ||
Other expenses, write-off of option fees paid | ¥ 16,470 | ||
Other | ¥ 84,666 | 60,178 | 46,261 |
Legal proceedings provision | |||
Disclosure of other provisions [line items] | |||
Other | 45,212 | ¥ 16,455 | ¥ 20,319 |
Legal proceedings provision | AbbVie Supply Agreement Litigation | |||
Disclosure of other provisions [line items] | |||
Other | ¥ 26,405 |
Finance Income and Expenses (De
Finance Income and Expenses (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Interest income | |||
Interest income from financial assets measured at amortized cost | ¥ 8,850 | ¥ 4,187 | ¥ 3,880 |
Interest income from financial assets measured at fair value through P&L | 2,442 | 1,318 | 700 |
Interest income on sublease | 1 | 3 | 11 |
Total interest income | 11,293 | 5,508 | 4,591 |
Dividend income | |||
Dividend income from financial assets measured at fair value through OCI and disposed of during the period | 0 | 6 | 8 |
Dividend income from financial assets measured at fair value through OCI and held at end of the period | 335 | 267 | 164 |
Total dividend income | 335 | 273 | 172 |
Remeasurement to fair value of pre-existing interest in an acquiree | 0 | 22,416 | 8,482 |
Other | 1,875 | 7,501 | 10,455 |
Total | 52,093 | 62,913 | 23,700 |
Finance Expenses: | |||
Interest expense on financial debt | 98,710 | 100,393 | 108,498 |
Interest expense on lease liabilities | 20,826 | 16,580 | 13,934 |
Total interest expense | 119,535 | 116,973 | 122,432 |
Loss on foreign currency exchange, net | 44,665 | 14,205 | 1,791 |
Hyperinflation effect expense | 18,160 | 12,256 | 3,698 |
Other | 34,096 | 19,421 | 16,091 |
Total | 219,850 | 169,698 | 166,607 |
Foreign Exchange Hedge | |||
Dividend income | |||
Gains on derivative financial assets | 31,053 | 4,476 | 0 |
Finance Expenses: | |||
Losses on derivatives financial assets | 0 | 0 | 2,112 |
Warrants | |||
Dividend income | |||
Gains on derivative financial assets | 0 | 15,896 | 0 |
Finance Expenses: | |||
Losses on derivatives financial assets | 0 | 0 | 20,483 |
Virtual Power Purchase Agreement | |||
Dividend income | |||
Gains on derivative financial assets | 3,393 | 6,843 | 0 |
Finance Expenses: | |||
Losses on derivatives financial assets | 3,393 | 6,843 | 0 |
Hedge related to acquisition | |||
Dividend income | |||
Gains on derivative financial assets | ¥ 4,144 | ¥ 0 | ¥ 0 |
Income Taxes - Schedule of Comp
Income Taxes - Schedule of Composition of Income Tax Expense (Benefit) (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Income taxes paid (refund) [abstract] | |||
Current tax expense | ¥ 107,349 | ¥ 246,578 | ¥ 208,513 |
Deferred tax benefit | 198,755 | 188,526 | 136,108 |
Total | ¥ (91,406) | ¥ 58,052 | ¥ 72,405 |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Income taxes paid (refund) [abstract] | |||
Decrease for current tax expenses of prior periods | ¥ 4,952 | ¥ 17,529 | ¥ 11,315 |
Decrease for deferred tax expense relating to origination and reversal of temporary differences | ¥ 32,290 | ¥ 54,974 | ¥ 11,914 |
Takeda’s domestic (Japanese) statutory tax rate | 30.60% | 30.60% | 30.60% |
Tax contingencies | ¥ (83,784) | ¥ 13,991 | ¥ 58,540 |
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax assets have not been recognised | 65,232 | 515,052 | |
Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised | ¥ 532,960 | ¥ 416,417 |
Income Taxes - Schedule of Reco
Income Taxes - Schedule of Reconciliation from Income Tax Expense (Benefit) (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Profit before tax | ¥ 52,791 | ¥ 375,090 | ¥ 302,571 |
Income tax expense at Takeda’s domestic (Japanese) statutory tax rate of 30.6% | 16,143 | 114,703 | 92,526 |
Non-deductible expenses for tax purposes | 21,353 | 15,158 | 6,071 |
Changes in unrecognized deferred tax assets and deferred tax liabilities | (3,512) | (21,791) | (8,831) |
Tax credits | (30,654) | (26,676) | (32,948) |
Differences in applicable tax rates of overseas subsidiaries | (29,782) | (31,446) | 24,496 |
Changes in tax effects of undistributed profit of overseas subsidiaries | (1,737) | 6,174 | (20,359) |
Effect of changes in applicable tax rates and tax law | (11,994) | 2,482 | (39,661) |
Tax contingencies | (83,784) | 13,991 | 58,540 |
Effect of prior year items | (2,479) | (7,524) | (4,762) |
Entity reorganizations/Divestments | 33,469 | (6,321) | 2,041 |
Other | 1,571 | (698) | (4,708) |
Total | (91,406) | ¥ 58,052 | 72,405 |
Restructuration, state tax change | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Effect of changes in applicable tax rates and tax law | (39,106) | ||
AbbVie break fee case with IRA | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Tax contingencies | (63,547) | ¥ 65,942 | |
US State Law Change | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Effect of changes in applicable tax rates and tax law | 4,206 | ||
Extension Of The Carryforward Period, Japanese Earnings Stripping Rules | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Effect of changes in applicable tax rates and tax law | ¥ (16,200) |
Income Taxes - Schedule of Co_2
Income Taxes - Schedule of Composition of Deferred Taxes (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Income taxes paid (refund) [abstract] | |||
Deferred tax assets | ¥ 393,865 | ¥ 366,003 | |
Deferred tax liabilities | (113,777) | (270,620) | |
Net deferred tax assets | ¥ 280,088 | ¥ 95,383 | ¥ (88,972) |
Income Taxes - Schedule of Re_2
Income Taxes - Schedule of Reconciliation of Changes in Deferred Taxes (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | ¥ 95,383 | ¥ (88,972) |
Recognized in profit or (loss) | 198,755 | 188,526 |
Recognized in other comprehensive income | (22,119) | 11,585 |
Other | 8,069 | (15,756) |
Net deferred tax liabilities, as of end of year | 280,088 | 95,383 |
Deferred tax relating to items credited (charged) directly to equity | 506 | 2,204 |
Research and development expenses | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 136,230 | 33,199 |
Recognized in profit or (loss) | 77,180 | 98,057 |
Recognized in other comprehensive income | 0 | 0 |
Other | 3,600 | 4,974 |
Net deferred tax liabilities, as of end of year | 217,010 | 136,230 |
Inventories | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 110,911 | 94,530 |
Recognized in profit or (loss) | 20,482 | 11,863 |
Recognized in other comprehensive income | 0 | 0 |
Other | 7,009 | 4,518 |
Net deferred tax liabilities, as of end of year | 138,402 | 110,911 |
Property, plant and equipment | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | (71,759) | (69,775) |
Recognized in profit or (loss) | 9,249 | 2,834 |
Recognized in other comprehensive income | 0 | 0 |
Other | (5,999) | (4,818) |
Net deferred tax liabilities, as of end of year | (68,509) | (71,759) |
Intangible assets | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | (452,594) | (497,480) |
Recognized in profit or (loss) | 99,039 | 86,244 |
Recognized in other comprehensive income | 0 | 0 |
Other | (36,715) | (41,358) |
Net deferred tax liabilities, as of end of year | (390,270) | (452,594) |
Financial assets measured at FVTOCI | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | (5,128) | (6,759) |
Recognized in profit or (loss) | 0 | 0 |
Recognized in other comprehensive income | (2,056) | 214 |
Other | (455) | 1,417 |
Net deferred tax liabilities, as of end of year | (7,639) | (5,128) |
Accrued expenses and provisions | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 165,043 | 155,330 |
Recognized in profit or (loss) | 7,469 | (6,402) |
Recognized in other comprehensive income | 0 | 0 |
Other | 13,081 | 16,115 |
Net deferred tax liabilities, as of end of year | 185,593 | 165,043 |
Defined benefit plans | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 6,406 | 13,456 |
Recognized in profit or (loss) | 667 | (2,855) |
Recognized in other comprehensive income | 2,170 | (5,563) |
Other | 5,485 | 1,368 |
Net deferred tax liabilities, as of end of year | 14,728 | 6,406 |
Deferred income | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 7,432 | 11,225 |
Recognized in profit or (loss) | (1,955) | (3,911) |
Recognized in other comprehensive income | 0 | 0 |
Other | 16 | 118 |
Net deferred tax liabilities, as of end of year | 5,493 | 7,432 |
Unused tax losses | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 101,092 | 119,453 |
Recognized in profit or (loss) | (15,970) | (24,662) |
Recognized in other comprehensive income | 0 | 0 |
Other | 3,549 | 6,301 |
Net deferred tax liabilities, as of end of year | 88,671 | 101,092 |
Tax credits | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 52,091 | 38,912 |
Recognized in profit or (loss) | (11,230) | 9,389 |
Recognized in other comprehensive income | 0 | 0 |
Other | 5,298 | 3,790 |
Net deferred tax liabilities, as of end of year | 46,159 | 52,091 |
Investments in subsidiaries and associates | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | (36,838) | (31,210) |
Recognized in profit or (loss) | 10,183 | (5,581) |
Recognized in other comprehensive income | 0 | 0 |
Other | (146) | (47) |
Net deferred tax liabilities, as of end of year | (26,801) | (36,838) |
Cash flow hedges | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 38,480 | 29,031 |
Recognized in profit or (loss) | 2,227 | 0 |
Recognized in other comprehensive income | (19,062) | 9,449 |
Other | 0 | 0 |
Net deferred tax liabilities, as of end of year | 21,645 | 38,480 |
Other | ||
Reconciliation of changes in deferred tax liability (asset) [abstract] | ||
Net deferred tax liabilities, as of beginning of year | 44,017 | 21,116 |
Recognized in profit or (loss) | 1,414 | 23,550 |
Recognized in other comprehensive income | (3,171) | 7,485 |
Other | 13,346 | (8,134) |
Net deferred tax liabilities, as of end of year | ¥ 55,606 | ¥ 44,017 |
Income Taxes - Schedule of Unus
Income Taxes - Schedule of Unused Tax Losses (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | ¥ 1,186,106 | ¥ 1,181,757 |
Deductible temporary differences | 263,143 | 259,784 |
Unused tax credits | 23,724 | 11,186 |
Less than 5 years | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax credits | 3,901 | 2,151 |
1st year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 812 | 76 |
2nd year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 85 | 762 |
3rd year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 1,989 | 307 |
4th year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 6,233 | 896 |
5th year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 578,648 | 2,081 |
After 5th year | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 590,813 | 1,114,021 |
Unused tax credits | 19,823 | 9,034 |
Indefinite | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Unused tax losses | 7,526 | 63,614 |
Unused tax credits | ¥ 0 | ¥ 0 |
Earnings per Share - Schedule o
Earnings per Share - Schedule of Basis for Calculating Basic and Diluted Earnings per Share (Details) - JPY (¥) ¥ / shares in Units, shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Earnings per share [abstract] | |||
Net profit for the year attributable to owners of the Company JPY (millions) | ¥ 144,067 | ¥ 317,017 | ¥ 230,059 |
Net profit used for calculation of earnings per share JPY (millions) | ¥ 144,067 | ¥ 317,017 | ¥ 230,059 |
Weighted-average number of ordinary shares outstanding during the year (basic) (in shares) | 1,564,450 | 1,551,809 | 1,563,501 |
Dilutive effect (in shares) | 15,893 | 18,064 | 13,668 |
Weighted-average number of ordinary shares outstanding during the year (diluted) (in shares) | 1,580,343 | 1,569,872 | 1,577,169 |
Basic earnings per share (in JPY per share) | ¥ 92.09 | ¥ 204.29 | ¥ 147.14 |
Diluted earnings per share (in JPY per share) | ¥ 91.16 | ¥ 201.94 | ¥ 145.87 |
Earnings per Share - Narrative
Earnings per Share - Narrative (Details) - shares shares in Thousands | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Earnings per share [abstract] | |||
Number of instruments that are antidilutive in period presented | 814 | 814 | 2,643 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Changes in fair value of financial assets measured at fair value through OCI: | |||
Amounts arising during the year | ¥ 4,365 | ¥ (2,868) | ¥ (17,295) |
Tax effects | (2,056) | 214 | 2,669 |
Changes in fair value of financial assets measured at fair value through OCI | 2,309 | (2,654) | (14,626) |
Remeasurement of defined benefit pension plans: | |||
Amounts arising during the year | (7,172) | 23,315 | 26,890 |
Tax effects | 2,170 | (5,563) | (6,107) |
Remeasurement of defined benefit pension plans | (5,002) | 17,752 | 20,783 |
Exchange differences on translation of foreign operations: | |||
Amounts arising during the year | 956,254 | 566,683 | 558,102 |
Reclassification adjustments to profit or (loss) | 0 | 0 | 0 |
Before tax effects | 956,254 | 566,683 | 558,102 |
Tax effects | 12,588 | 52,090 | 25,867 |
Exchange differences on translation of foreign operations | 968,842 | 618,773 | 583,969 |
Changes in fair value of financial assets measured at fair value through OCI: | |||
Amounts arising during the year | (16,150) | (9,118) | 0 |
Reclassification adjustments to profit or (loss) | 16,150 | 9,118 | 0 |
Before tax effects | 0 | 0 | 0 |
Tax effects | 0 | 0 | 0 |
Changes in fair value of financial assets measured at fair value through OCI | 0 | 0 | 0 |
Cash flow hedges: | |||
Amounts arising during the year | 171,059 | 56,437 | 82,780 |
Reclassification adjustments to profit or (loss) | (137,265) | (87,337) | (79,321) |
Before tax effects | 33,794 | (30,900) | 3,459 |
Tax effects | (10,338) | 9,449 | (1,286) |
Cash flow hedges | 23,456 | (21,451) | 2,173 |
Hedging cost: | |||
Amounts arising during the year | 12,392 | (21,426) | 6,611 |
Reclassification adjustments to profit or (loss) | (2,024) | (3,052) | (3,071) |
Before tax effects | 10,368 | (24,478) | 3,540 |
Tax effects | (3,171) | 7,485 | (1,083) |
Hedging cost | 7,197 | (16,993) | 2,457 |
Share of other comprehensive income of investments accounted for using the equity method: | |||
Amounts arising during the year | (1,793) | (892) | (497) |
Reclassification adjustments to profit or (loss) | 0 | 0 | 0 |
Before tax effects | (1,793) | (892) | (497) |
Tax effects | 0 | 0 | 0 |
Share of other comprehensive loss of investments accounted for using the equity method | (1,793) | (892) | (497) |
Other comprehensive income for the year, net of tax | ¥ 995,009 | ¥ 594,535 | ¥ 594,261 |
Property, Plant and Equipment -
Property, Plant and Equipment - Schedule of Reconciliation of Changes in Property, Plant and Equipment (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | ¥ 1,691,229 | ¥ 1,582,800 |
Ending of period | 1,989,777 | 1,691,229 |
Acquisition cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 2,698,984 | 2,453,007 |
Additions and other increases | 324,423 | 185,217 |
Transfers | 0 | 0 |
Disposals and other decreases | (70,440) | (50,830) |
Reclassification to assets held for sale | (16,558) | (36,331) |
Foreign currency translation differences | 274,069 | 147,922 |
Ending of period | 3,210,478 | 2,698,984 |
Accumulated depreciation and accumulated impairment losses | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | (1,007,755) | (870,207) |
Disposals and other decreases | 42,192 | 30,224 |
Reclassification to assets held for sale | 13,733 | 20,983 |
Foreign currency translation differences | (83,078) | (36,045) |
Depreciation expenses | (170,339) | (150,379) |
Impairment losses | (15,454) | (2,331) |
Ending of period | (1,220,701) | (1,007,755) |
Buildings and structures | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 980,578 | 944,455 |
Ending of period | 1,171,629 | 980,578 |
Buildings and structures | Acquisition cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 1,400,108 | 1,288,578 |
Additions and other increases | 158,460 | 46,155 |
Transfers | 26,434 | 21,026 |
Disposals and other decreases | (45,337) | (22,876) |
Reclassification to assets held for sale | (9,188) | (14,915) |
Foreign currency translation differences | 148,576 | 82,139 |
Ending of period | 1,679,054 | 1,400,108 |
Buildings and structures | Accumulated depreciation and accumulated impairment losses | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | (419,530) | (344,123) |
Disposals and other decreases | 22,173 | 5,429 |
Reclassification to assets held for sale | 7,961 | 8,209 |
Foreign currency translation differences | (36,879) | (15,585) |
Depreciation expenses | (80,067) | (72,900) |
Impairment losses | (1,082) | (560) |
Ending of period | (507,425) | (419,530) |
Machinery and vehicles | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 364,763 | 340,737 |
Ending of period | 395,865 | 364,763 |
Machinery and vehicles | Acquisition cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 851,382 | 772,024 |
Additions and other increases | 27,662 | 25,628 |
Transfers | 39,784 | 37,743 |
Disposals and other decreases | (11,583) | (16,084) |
Reclassification to assets held for sale | (6,236) | (10,968) |
Foreign currency translation differences | 80,936 | 43,039 |
Ending of period | 981,944 | 851,382 |
Machinery and vehicles | Accumulated depreciation and accumulated impairment losses | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | (486,618) | (431,287) |
Disposals and other decreases | 8,682 | 14,207 |
Reclassification to assets held for sale | 5,353 | 9,276 |
Foreign currency translation differences | (37,869) | (16,976) |
Depreciation expenses | (71,588) | (60,428) |
Impairment losses | (4,039) | (1,410) |
Ending of period | (586,080) | (486,618) |
Tools, furniture, and fixtures | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 43,660 | 44,404 |
Ending of period | 49,761 | 43,660 |
Tools, furniture, and fixtures | Acquisition cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 141,867 | 135,895 |
Additions and other increases | 11,508 | 9,025 |
Transfers | 10,803 | 5,962 |
Disposals and other decreases | (10,694) | (11,096) |
Reclassification to assets held for sale | (483) | (4,013) |
Foreign currency translation differences | 11,946 | 6,093 |
Ending of period | 164,945 | 141,867 |
Tools, furniture, and fixtures | Accumulated depreciation and accumulated impairment losses | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | (98,207) | (91,491) |
Disposals and other decreases | 10,127 | 10,393 |
Reclassification to assets held for sale | 419 | 3,499 |
Foreign currency translation differences | (8,058) | (3,435) |
Depreciation expenses | (18,684) | (17,052) |
Impairment losses | (781) | (121) |
Ending of period | (115,184) | (98,207) |
Land | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 97,983 | 98,243 |
Ending of period | 105,572 | 97,983 |
Land | Acquisition cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 98,227 | 98,654 |
Additions and other increases | 5 | 349 |
Transfers | 0 | 0 |
Disposals and other decreases | (9) | (201) |
Reclassification to assets held for sale | (597) | (5,471) |
Foreign currency translation differences | 8,220 | 4,895 |
Ending of period | 105,845 | 98,227 |
Land | Accumulated depreciation and accumulated impairment losses | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | (243) | (411) |
Disposals and other decreases | 0 | 195 |
Reclassification to assets held for sale | 0 | 0 |
Foreign currency translation differences | (30) | (28) |
Depreciation expenses | 0 | 0 |
Impairment losses | 0 | 0 |
Ending of period | (273) | (243) |
Construction in progress | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 204,245 | 154,960 |
Ending of period | 266,950 | 204,245 |
Construction in progress | Acquisition cost | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | 207,400 | 157,856 |
Additions and other increases | 126,788 | 104,059 |
Transfers | (77,021) | (64,731) |
Disposals and other decreases | (2,817) | (574) |
Reclassification to assets held for sale | (53) | (965) |
Foreign currency translation differences | 24,391 | 11,755 |
Ending of period | 278,689 | 207,400 |
Construction in progress | Accumulated depreciation and accumulated impairment losses | ||
Reconciliation of changes in property, plant and equipment [abstract] | ||
Beginning of period | (3,156) | (2,896) |
Disposals and other decreases | 1,210 | 0 |
Reclassification to assets held for sale | 0 | 0 |
Foreign currency translation differences | (242) | (21) |
Depreciation expenses | 0 | 0 |
Impairment losses | (9,552) | (239) |
Ending of period | ¥ (11,739) | ¥ (3,156) |
Property, Plant and Equipment_2
Property, Plant and Equipment - Schedule of Reconciliation of Changes in Right-of-use Assets (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | ¥ 410,274 | ¥ 407,938 |
Ending balance | 533,403 | 410,274 |
Acquisition cost of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 590,724 | 539,410 |
Additions and other increases | 144,950 | 38,416 |
Disposals and other decreases | (41,341) | (26,016) |
Foreign currency translation differences | 70,228 | 38,915 |
Reclassification to assets held for sale (Note 19) | (573) | |
Ending balance | 763,989 | 590,724 |
Accumulated depreciation and accumulated impairment losses of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (180,450) | (131,472) |
Depreciation expenses | (50,954) | (47,856) |
Impairment losses | (43) | |
Disposals and other decreases | 21,505 | 8,077 |
Foreign currency translation differences | (21,249) | (9,157) |
Reclassification to assets held for sale (Note 19) | 562 | |
Ending balance | (230,586) | (180,450) |
Buildings and structures | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 401,437 | 400,952 |
Ending balance | 521,403 | 401,437 |
Buildings and structures | Acquisition cost of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 573,585 | 525,118 |
Additions and other increases | 136,969 | 31,585 |
Disposals and other decreases | (36,468) | (21,134) |
Foreign currency translation differences | 68,220 | 38,016 |
Reclassification to assets held for sale (Note 19) | (408) | |
Ending balance | 741,898 | 573,585 |
Buildings and structures | Accumulated depreciation and accumulated impairment losses of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (172,149) | (124,166) |
Depreciation expenses | (45,635) | (43,260) |
Impairment losses | (43) | |
Disposals and other decreases | 17,251 | 4,039 |
Foreign currency translation differences | (20,368) | (8,719) |
Reclassification to assets held for sale (Note 19) | 405 | |
Ending balance | (220,496) | (172,149) |
Machinery and vehicles | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 8,781 | 6,868 |
Ending balance | 11,950 | 8,781 |
Machinery and vehicles | Acquisition cost of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 16,818 | 13,940 |
Additions and other increases | 7,950 | 6,828 |
Disposals and other decreases | (4,840) | (4,842) |
Foreign currency translation differences | 1,988 | 892 |
Reclassification to assets held for sale (Note 19) | (38) | |
Ending balance | 21,880 | 16,818 |
Machinery and vehicles | Accumulated depreciation and accumulated impairment losses of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (8,037) | (7,072) |
Depreciation expenses | (5,286) | (4,535) |
Impairment losses | 0 | |
Disposals and other decreases | 4,221 | 3,999 |
Foreign currency translation differences | (865) | (429) |
Reclassification to assets held for sale (Note 19) | 38 | |
Ending balance | (9,930) | (8,037) |
Tools, furniture, and fixtures | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 56 | 118 |
Ending balance | 51 | 56 |
Tools, furniture, and fixtures | Acquisition cost of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | 320 | 351 |
Additions and other increases | 31 | 2 |
Disposals and other decreases | (33) | (40) |
Foreign currency translation differences | 20 | 7 |
Reclassification to assets held for sale (Note 19) | (127) | |
Ending balance | 211 | 320 |
Tools, furniture, and fixtures | Accumulated depreciation and accumulated impairment losses of ROU Assets | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Beginning balance | (264) | (234) |
Depreciation expenses | (33) | (60) |
Impairment losses | 0 | |
Disposals and other decreases | 33 | 39 |
Foreign currency translation differences | (16) | (9) |
Reclassification to assets held for sale (Note 19) | 120 | |
Ending balance | ¥ (160) | ¥ (264) |
Property, Plant and Equipment_3
Property, Plant and Equipment - Schedule of Expenses Related to Leases Not Included in the Measurement of the Lease Liabilities (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |||
Expense relating to short-term leases | ¥ 4,312 | ¥ 4,521 | ¥ 4,458 |
Expense relating to leases of low-value assets that are not short-term leases expenses | 887 | 1,255 | 1,304 |
Expense relating to variable lease payments | 10,954 | 4,794 | 4,006 |
Total expenses not included in lease liabilities | ¥ 16,152 | ¥ 10,570 | ¥ 9,768 |
Property, Plant and Equipment_4
Property, Plant and Equipment - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [abstract] | |||
Cash outflow for leases | ¥ 75,412 | ¥ 59,981 | ¥ 53,628 |
Future cash outflow for leases not yet commenced | ¥ 225,027 |
Property, Plant and Equipment_5
Property, Plant and Equipment - Schedule of Impairment Losses (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost of sales | ¥ (1,426,678) | ¥ (1,244,072) | ¥ (1,106,846) |
Research and development expenses | (729,924) | (633,325) | (526,087) |
Accumulated impairment losses | |||
Disclosure of detailed information about property, plant and equipment [line items] | |||
Cost of sales | (6,225) | (375) | (261) |
Selling, general and administrative expenses | 0 | (75) | (34) |
Research and development expenses | (1,307) | 0 | 0 |
Other operating expenses | (7,923) | (1,881) | (92) |
Total | ¥ (15,454) | ¥ (2,331) | ¥ (388) |
Goodwill - Schedule of Reconcil
Goodwill - Schedule of Reconciliation of Changes in Goodwill (Details) - Goodwill - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | ||
As of beginning of the year | ¥ 4,790,723 | ¥ 4,407,749 |
Reclassification to assets held for sale (Note 19) | (6,626) | (5,951) |
Foreign currency translation differences and others | 625,970 | 388,925 |
As of end of the year | ¥ 5,410,067 | ¥ 4,790,723 |
Goodwill - Narrative (Details)
Goodwill - Narrative (Details) - cash-generatingUnit | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of detailed information about intangible assets [line items] | ||
Number of CGU used in impairment testing | 1 | 1 |
Goodwill | Post-tax | ||
Disclosure of detailed information about intangible assets [line items] | ||
Estimated future cash flows, projection period | 10 years |
Goodwill - Schedule of Discount
Goodwill - Schedule of Discounted Cash Flows Model (Details) - Goodwill - Post-tax | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of detailed information about intangible assets [line items] | ||
Terminal growth rate | 0% | 0% |
Discount rate (post-tax) | 6.20% | 6.80% |
Intangible Assets - Schedule of
Intangible Assets - Schedule of Reconciliation of Changes in Intangible Assets (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | ¥ 4,269,657 | ¥ 3,818,544 | |
Amortization | (652,117) | (542,443) | ¥ (472,915) |
Impairment losses | (169,405) | (57,341) | (67,721) |
Reversal of impairment losses | (35,686) | (13,595) | |
Ending balance | 4,274,682 | 4,269,657 | 3,818,544 |
Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 7,555,471 | 6,435,150 | |
Additions and other increases | 172,263 | 713,436 | |
Disposals and other decreases | (62,903) | (138,420) | |
Reclassification to assets held for sale | (1,012) | ||
Foreign currency translation differences | 969,980 | 546,317 | |
Ending balance | 8,601,492 | 7,555,471 | 6,435,150 |
Accumulated amortization and accumulated impairment losses | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | (3,285,813) | (2,616,606) | |
Disposals and other decreases | 62,462 | 112,643 | |
Reclassification to assets held for sale | 26,761 | 397 | |
Foreign currency translation differences | (441,833) | (213,851) | |
Amortization | (554,668) | (511,056) | |
Impairment losses | (169,405) | (57,341) | |
Reversal of impairment losses | 35,686 | ||
Ending balance | (4,326,810) | (3,285,813) | (2,616,606) |
Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Reclassification to assets held for sale | (33,318) | ||
Software | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 123,340 | 106,143 | |
Ending balance | 149,632 | 123,340 | 106,143 |
Software | Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 219,559 | 182,778 | |
Additions and other increases | 47,179 | 36,984 | |
Disposals and other decreases | (4,885) | (11,798) | |
Reclassification to assets held for sale | (1,012) | ||
Foreign currency translation differences | 27,529 | 12,607 | |
Ending balance | 289,116 | 219,559 | 182,778 |
Software | Accumulated amortization and accumulated impairment losses | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | (96,220) | (76,634) | |
Disposals and other decreases | 4,614 | 10,756 | |
Reclassification to assets held for sale | 203 | 397 | |
Foreign currency translation differences | (12,366) | (5,177) | |
Amortization | (32,587) | (25,561) | |
Impairment losses | (3,126) | 0 | |
Reversal of impairment losses | 0 | ||
Ending balance | (139,483) | (96,220) | (76,634) |
Software | Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Reclassification to assets held for sale | (266) | ||
Intangible assets associated with products | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 4,135,020 | 3,701,357 | |
Ending balance | 4,113,726 | 4,135,020 | 3,701,357 |
Intangible assets associated with products | Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 7,324,072 | 6,240,818 | |
Additions and other increases | 124,878 | 676,156 | |
Disposals and other decreases | (57,869) | (126,610) | |
Reclassification to assets held for sale | 0 | ||
Foreign currency translation differences | 942,404 | 533,707 | |
Ending balance | 8,300,433 | 7,324,072 | 6,240,818 |
Intangible assets associated with products | Accumulated amortization and accumulated impairment losses | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | (3,189,051) | (2,539,461) | |
Disposals and other decreases | 57,838 | 101,888 | |
Reclassification to assets held for sale | 26,558 | 0 | |
Foreign currency translation differences | (429,462) | (208,672) | |
Amortization | (521,998) | (485,465) | |
Impairment losses | (166,278) | (57,341) | |
Reversal of impairment losses | 35,686 | ||
Ending balance | (4,186,707) | (3,189,051) | (2,539,461) |
Intangible assets associated with products | Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Reclassification to assets held for sale | (33,052) | ||
Other | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 11,297 | 11,044 | |
Ending balance | 11,324 | 11,297 | 11,044 |
Other | Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | 11,839 | 11,554 | |
Additions and other increases | 206 | 295 | |
Disposals and other decreases | (149) | (13) | |
Reclassification to assets held for sale | 0 | ||
Foreign currency translation differences | 48 | 3 | |
Ending balance | 11,944 | 11,839 | 11,554 |
Other | Accumulated amortization and accumulated impairment losses | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Beginning balance | (542) | (510) | |
Disposals and other decreases | 11 | 0 | |
Reclassification to assets held for sale | 0 | 0 | |
Foreign currency translation differences | (5) | (2) | |
Amortization | (83) | (30) | |
Impairment losses | 0 | 0 | |
Reversal of impairment losses | 0 | ||
Ending balance | (620) | ¥ (542) | ¥ (510) |
Other | Acquisition cost | |||
Reconciliation of changes in intangible assets and goodwill [abstract] | |||
Reclassification to assets held for sale | ¥ 0 |
Intangible Assets - Schedule _2
Intangible Assets - Schedule of Intangible Assets Associated with Products (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 4,274,682 | ¥ 4,269,657 | ¥ 3,818,544 |
Carrying amount | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 4,113,726 | 4,135,020 | 3,701,357 |
Marketed products | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | 3,148,680 | 3,164,380 | 3,389,453 |
Marketed products | immunoglobulin | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 795,903 | 766,459 | |
Remaining amortization period | 11 years | ||
Marketed products | TAKHZYRO | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 562,434 | 546,336 | |
Remaining amortization period | 10 years | ||
Marketed products | ADVATE & ADYNOVATE/ADYNOVI | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 269,275 | 278,463 | |
Remaining amortization period | 6 years | ||
Marketed products | VYVANSE/ELVANSE | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 223,589 | 306,242 | |
Remaining amortization period | 2 years | ||
Marketed products | ALUNBRIG | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 212,376 | 213,706 | |
Remaining amortization period | 7 years | ||
In-process R&D | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 965,045 | 970,640 | ¥ 311,904 |
In-process R&D | TAK-279 | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 613,329 | ¥ 533,999 |
Intangible Assets - Narrative (
Intangible Assets - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of detailed information about intangible assets [line items] | |||
Impairment losses | ¥ 169,405 | ¥ 57,341 | ¥ 67,721 |
Intangible assets | 4,274,682 | 4,269,657 | 3,818,544 |
Reversal of impairment losses | ¥ 35,686 | 13,595 | |
Discount rate (Post-tax) | |||
Disclosure of detailed information about intangible assets [line items] | |||
Discount rate used in current estimate of value in use | 7.20% | ||
ALOFISEL | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment losses | ¥ 73,979 | ||
EXKIVITY | |||
Disclosure of detailed information about intangible assets [line items] | |||
Impairment losses | ¥ 28,477 | ||
Impaired product-related intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 20,545 | 38,951 | |
Reversed impairment product-related intangible assets | |||
Disclosure of detailed information about intangible assets [line items] | |||
Intangible assets | ¥ 22,415 |
Intangible Assets - Schedule _3
Intangible Assets - Schedule of Significant Assumptions Used to Calculate the Recoverable Amount (Details) | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Discount rate (Post-tax) | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Discount rate used in current estimate of value in use | 7.20% | ||
Discount rate (Post-tax) | Minimum | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Discount rate used in current estimate of value in use | 6.50% | 6.50% | |
Discount rate (Post-tax) | Maximum | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Discount rate used in current estimate of value in use | 22% | 14% | |
Discount rate (Pre-tax) | Minimum | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Discount rate used in current estimate of value in use | 8.60% | 8.30% | |
Discount rate (Pre-tax) | Maximum | |||
Disclosure of information for impairment loss recognised or reversed for individual asset or cash-generating unit [line items] | |||
Discount rate used in current estimate of value in use | 27.50% | 17.50% |
Collaborations, Licensing Arr_3
Collaborations, Licensing Arrangements, and Other Asset Acquisitions - Narrative (Details) $ in Millions | 1 Months Ended | ||||
Apr. 30, 2024 USD ($) | Aug. 31, 2023 USD ($) | Apr. 30, 2023 USD ($) | Feb. 28, 2023 USD ($) payment | Mar. 31, 2023 USD ($) | |
Nimbus Therapeutics, LLC | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Contractual commitments for acquisition of pharmaceutical assets | $ 4,000 | ||||
Number of milestone payment, pharmaceutical asset acquisition | payment | 2 | ||||
Milestone payment, biological asset acquisition agreement | $ 1,000 | ||||
First sales milestone, milestone payment, biological assets acquisition agreement | 4,000 | ||||
Second sales milestone, milestone payment, biological assets acquisition agreement | 5,000 | ||||
Cash payments for milestone payments | $ 3,000 | ||||
Nimbus Therapeutics, LLC | Forecast | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Cash payments for milestone payments | $ 100 | ||||
Nimbus Therapeutics, LLC | Major purchases of assets [member] | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Cash payments for milestone payments | $ 900 | ||||
HUTCHMED | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Contractual commitments for acquisition of pharmaceutical assets | $ 400 | ||||
Additional potential payment, biological asset acquisition agreement | $ 730 | ||||
Protagonist Therapeutics, Inc. | |||||
Disclosure of detailed information about intangible assets [line items] | |||||
Contractual commitments for acquisition of pharmaceutical assets, payment | $ 300 |
Collaborations, Licensing Arr_4
Collaborations, Licensing Arrangements, and Other Asset Acquisitions - Summary of Payments Made Under the Terms of Collaboration and Licensing Arrangements (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Collaborations, Licensing Arrangements, and Other Asset Acquisitions [Abstract] | |||
Initial up-front payments, milestone payments, and other asset acquisitions | ¥ 124,878 | ¥ 676,156 | ¥ 44,944 |
Acquisition of shares of collaboration and in-licensing partners | ¥ 2,050 | ¥ 494 | ¥ 785 |
Investments Accounted for Usi_3
Investments Accounted for Using the Equity Method (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of associates [line items] | |||
Net profit (loss) for the year | ¥ 144,197 | ¥ 317,038 | ¥ 230,166 |
Other comprehensive income (loss) | 995,009 | 594,535 | 594,261 |
Total comprehensive income for the year | 1,139,206 | 911,574 | 824,427 |
Carrying amount of investments accounted for using the equity method | 89,831 | 99,174 | |
Aggregated individually immaterial associates | |||
Disclosure of associates [line items] | |||
Net profit (loss) for the year | 6,473 | (8,630) | (15,367) |
Other comprehensive income (loss) | (1,793) | (892) | (497) |
Total comprehensive income for the year | 4,681 | (9,522) | ¥ (15,863) |
Carrying amount of investments accounted for using the equity method | ¥ 89,831 | ¥ 99,174 |
Other Financial Assets - Schedu
Other Financial Assets - Schedule of Other Financial Assets (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of financial assets [line items] | ||
Derivative assets (Note 27) | ¥ 120,223 | ¥ 79,654 |
Investment in equity instruments at fair value through OCI (Note 27) | 182,887 | 157,731 |
Financial assets associated with contingent consideration arrangements (Note 27) | 12,293 | 23,806 |
Other | 25,892 | 26,168 |
Total | 355,866 | 299,857 |
Non-current | 340,777 | 279,683 |
Current | 15,089 | 20,174 |
Convertible notes | ||
Disclosure of financial assets [line items] | ||
Investments in financial assets at fair value through P&L | 13,459 | 11,435 |
Debt securities | ||
Disclosure of financial assets [line items] | ||
Investments in financial assets at fair value through P&L | ¥ 1,113 | ¥ 1,063 |
Other Financial Assets - Narrat
Other Financial Assets - Narrative (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of financial assets [line items] | ||
Investment in equity instruments at fair value through OCI (Note 27) | ¥ 182,887 | ¥ 157,731 |
With quoted prices in active markets | ||
Disclosure of financial assets [line items] | ||
Investment in equity instruments at fair value through OCI (Note 27) | ¥ 93,962 | ¥ 74,495 |
Inventories - Schedule of Inven
Inventories - Schedule of Inventories (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Inventories [Abstract] | ||
Finished products and merchandise | ¥ 349,590 | ¥ 269,042 |
Work-in-process | 522,667 | 436,508 |
Raw materials and supplies | 337,612 | 280,908 |
Total | ¥ 1,209,869 | ¥ 986,457 |
Inventories - Narrative (Detail
Inventories - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Inventories [Abstract] | |||
Inventory write-offs | ¥ 26,335 | ¥ 18,392 | ¥ 25,018 |
Trade and Other Receivables - S
Trade and Other Receivables - Schedule of Trade and Other Receivables (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of financial assets [line items] | ||
Trade receivables | ¥ 718,675 | ¥ 674,691 |
Other receivables | 55,964 | 73,999 |
Chargebacks and other allowances | (97,860) | (91,904) |
Trade and other receivables | 668,403 | 649,429 |
Accumulated impairment losses | ||
Disclosure of financial assets [line items] | ||
Trade and other receivables | ¥ (8,376) | ¥ (7,356) |
Trade and Other Receivables - N
Trade and Other Receivables - Narrative (Details) - Measured at fair value through other comprehensive income - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of financial assets [line items] | ||
Financial assets | ¥ 266,621 | ¥ 228,811 |
Trade and other receivables | ||
Disclosure of financial assets [line items] | ||
Financial assets | ¥ 83,734 | ¥ 71,080 |
Cash and Cash Equivalents (Deta
Cash and Cash Equivalents (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 |
Cash and cash equivalents [abstract] | ||||
Cash and deposits | ¥ 205,190 | ¥ 229,557 | ||
Short-term investments | 252,611 | 303,973 | ||
Total | ¥ 457,800 | ¥ 533,530 | ¥ 849,695 | ¥ 966,222 |
Assets and Disposal Groups He_3
Assets and Disposal Groups Held for Sale - Schedule of Assets Held for Sale and Disposal Groups (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disposal groups held for sale | ||
Disclosure of analysis of single amount of discontinued operations [line items] | ||
Goodwill | ¥ 3,745 | ¥ 3,347 |
Intangible assets | 62 | 402 |
Inventories | 1,242 | 1,200 |
Trade and other receivables | 767 | 0 |
Other assets | 13 | 395 |
Total assets | 9,337 | 15,235 |
Trade and other payables | 660 | 0 |
Deferred tax liabilities | 307 | 0 |
Other liabilities | 442 | 144 |
Total liabilities | 1,410 | 144 |
Disposal groups held for sale | ||
Disclosure of analysis of single amount of discontinued operations [line items] | ||
Property, plant and equipment | 3,162 | 9,847 |
Deferred tax assets | ¥ 347 | ¥ 45 |
Assets and Disposal Groups He_4
Assets and Disposal Groups Held for Sale - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Non-current assets or disposal groups classified as held for sale or as held for distribution to owners [abstract] | |||
Proceeds from sales of business, net of cash and cash equivalents divested | ¥ 19,959 | ¥ 7,958 | ¥ 28,196 |
Impairment of assets held for sale | ¥ 1,685 | ¥ 4,693 | ¥ 0 |
Bonds and Loans - Schedule of C
Bonds and Loans - Schedule of Composition of Debt Instruments (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Borrowings [abstract] | ||
Bonds | ¥ 4,092,879 | ¥ 3,658,314 |
Short-term loans | 251 | 256 |
Long-term loans | 750,622 | 723,772 |
Total | 4,843,752 | 4,382,341 |
Non-current | 4,476,501 | 4,042,741 |
Current | ¥ 367,251 | ¥ 339,600 |
Bonds and Loans - Schedule of_2
Bonds and Loans - Schedule of Composition of Bonds (Details) € in Millions, ¥ in Millions, $ in Millions | Mar. 31, 2024 JPY (¥) | Mar. 31, 2024 EUR (€) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) |
Disclosure of detailed information about borrowings [line items] | |||||
Bonds | ¥ 4,092,879 | ¥ 3,658,314 | |||
Hybrid subordinated bonds | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | 500,000 | $ 500,000 | $ 500,000 | ||
Bonds | ¥ 499,614 | 498,876 | |||
Spread on variable interest rate | 1.72% | 1.72% | 1.72% | ||
Hybrid subordinated bonds | LIBOR | Minimum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 1.75% | 1.75% | 1.75% | ||
Hybrid subordinated bonds | LIBOR | Maximum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 2.75% | 2.75% | 2.75% | ||
2018 EUR Unsecured Senior Notes – fixed rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | € | € 3,000 | ||||
Bonds | ¥ 487,381 | 433,611 | |||
2018 EUR Unsecured Senior Notes – fixed rate | Minimum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 2.25% | 2.25% | 2.25% | ||
2018 EUR Unsecured Senior Notes – fixed rate | Maximum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 3% | 3% | 3% | ||
2018 USD Unsecured Senior Notes – fixed rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | $ | $ 1,750 | 2,250 | |||
Bonds | ¥ 263,701 | 298,842 | |||
Interest rate (%) | 5% | 5% | 5% | ||
Unsecured Senior Notes Assumed in Shire Acquisition | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | $ | $ 3,000 | 4,000 | |||
Bonds | ¥ 439,725 | 515,298 | |||
Interest rate (%) | 3.20% | 3.20% | 3.20% | ||
Unsecured Senior Notes Assumed in Shire Acquisition | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | $ | $ 1,301 | ||||
Bonds | ¥ 198,116 | 174,239 | |||
Unsecured Senior Notes Assumed in Shire Acquisition | Minimum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 4% | 4% | 4% | ||
Unsecured Senior Notes Assumed in Shire Acquisition | Maximum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 5.25% | 5.25% | 5.25% | ||
2020 USD Unsecured Senior Notes – fixed rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | $ | $ 7,000 | ||||
Bonds | ¥ 1,053,742 | 928,210 | |||
2020 USD Unsecured Senior Notes – fixed rate | Minimum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 2.05% | 2.05% | 2.05% | ||
2020 USD Unsecured Senior Notes – fixed rate | Maximum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 3.375% | 3.375% | 3.375% | ||
2020 EUR Unsecured Senior Notes – fixed rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | € | € 3,600 | ||||
Bonds | ¥ 584,105 | 519,808 | |||
2020 EUR Unsecured Senior Notes – fixed rate | Minimum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 0.75% | 0.75% | 0.75% | ||
2020 EUR Unsecured Senior Notes – fixed rate | Maximum | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Interest rate (%) | 2% | 2% | 2% | ||
JPY Unsecured Senior Bonds – fixed rate | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | ¥ 250,000 | ||||
Bonds | ¥ 249,495 | 249,429 | |||
Interest rate (%) | 0.40% | 0.40% | 0.40% | ||
Commercial Paper | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Principal amount in contractual currency (millions) | ¥ 317,000 | $ 317,000 | $ 40,000 | ||
Bonds | ¥ 317,000 | ¥ 40,000 | |||
Interest rate (%) | 0% | 0% | 0% |
Bonds and Loans - Schedule of_3
Bonds and Loans - Schedule of Composition of Loans (Details) ¥ in Millions, $ in Millions | Mar. 31, 2024 JPY (¥) | Mar. 31, 2024 USD ($) | Apr. 30, 2023 | Mar. 31, 2023 JPY (¥) |
Disclosure of detailed information about borrowings [line items] | ||||
JPY (millions) Carrying amount | ¥ 750,873 | ¥ 724,027 | ||
Syndicated Loans 2016 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Principal amount in contractual currency (millions) | 100,000 | 200,000 | ||
JPY (millions) Carrying amount | ¥ 100,000 | 200,000 | ||
Interest rate (%) | 0.30% | 0.30% | ||
Syndicated Loans 2017 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Principal amount in contractual currency (millions) | ¥ 113,500 | |||
JPY (millions) Carrying amount | ¥ 113,500 | 113,500 | ||
Interest rate (%) | 0.35% | 0.35% | ||
USD Syndicated Loans 2017 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Principal amount in contractual currency (millions) | $ | $ 1,500 | |||
JPY (millions) Carrying amount | ¥ 227,018 | ¥ 199,993 | ||
USD Syndicated Loans 2017 | Secured Overnight Financing Rate (SOFR) | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Spread on variable interest rate | 0.42826% | 0.42826% | 0.42826% | |
USD Syndicated Loans 2017 | LIBOR | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Spread on variable interest rate | 0.50% | |||
Syndicated Loans 2023 | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Principal amount in contractual currency (millions) | $ | $ 100,000 | |||
JPY (millions) Carrying amount | ¥ 100,000 | ¥ 0 | ||
Interest rate (%) | 0.679% | 0.679% | ||
Bilateral Loans | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Principal amount in contractual currency (millions) | ¥ 210,000 | |||
JPY (millions) Carrying amount | ¥ 210,000 | 210,000 | ||
Bilateral Loans | Minimum | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (%) | 0.19% | 0.19% | ||
Bilateral Loans | Maximum | ||||
Disclosure of detailed information about borrowings [line items] | ||||
Interest rate (%) | 0.815% | 0.815% | ||
Other | ||||
Disclosure of detailed information about borrowings [line items] | ||||
JPY (millions) Carrying amount | ¥ 355 | ¥ 534 |
Bonds and Loans - Narrative (De
Bonds and Loans - Narrative (Details) $ in Millions, ¥ in Billions | 12 Months Ended | ||||||||
Apr. 26, 2023 USD ($) | Apr. 26, 2023 JPY (¥) | Mar. 31, 2024 USD ($) | Mar. 31, 2024 JPY (¥) | Apr. 30, 2023 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2020 USD ($) | Sep. 30, 2019 JPY (¥) | Dec. 31, 2017 USD ($) | |
Disclosure of detailed information about borrowings [line items] | |||||||||
Borrowing availability | ¥ | ¥ 700 | ||||||||
Syndicated Loans 2016 | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Repayments of non-current borrowings | ¥ | ¥ 100 | ||||||||
Syndicated Loans 2023 | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | ¥ | ¥ 100 | ||||||||
2018 USD Unsecured Senior Notes – fixed rate | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Repayments of non-current borrowings | $ 500 | ||||||||
Notional | $ 1,750 | $ 2,250 | |||||||
2018 USD Unsecured Senior Notes – fixed rate | Hedge related to acquisition | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 1,750 | ||||||||
Commercial Paper | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 317,000 | ¥ 317 | 40,000 | ||||||
USD Syndicated Loans 2017 | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 1,500 | ||||||||
USD Syndicated Loans 2017 | Hedge related to acquisition | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 925 | ||||||||
USD Syndicated Loans 2017 | Interest rate swaps | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 575 | ||||||||
USD Syndicated Loans 2017 | Secured Overnight Financing Rate (SOFR) | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Spread on variable interest rate | 0.42826% | 0.42826% | 0.42826% | ||||||
2020 USD Unsecured Senior Notes – fixed rate | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 7,000 | ||||||||
2020 USD Unsecured Senior Notes – fixed rate | Hedge related to acquisition | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | 4,000 | ||||||||
2020 USD Unsecured Senior Notes | Hedge related to acquisition | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Notional | $ 5,750 | ||||||||
Nominal amount of terminated hedging instrument | 4,250 | ||||||||
Unsecured Senior Notes Assumed in Shire Acquisition | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Repayments of non-current borrowings | $ 1,000 | ||||||||
Notional | $ 3,000 | $ 4,000 |
Other Financial Liabilities (De
Other Financial Liabilities (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of financial liabilities [abstract] | |||
Derivative liabilities | ¥ 25,108 | ¥ 40,721 | |
Lease liabilities | 619,639 | 479,351 | |
Financial liabilities associated with programs to sell certain receivables | 79,062 | 78,041 | |
Financial liabilities associated with contingent consideration arrangements | 7,772 | 8,139 | ¥ 5,844 |
Other | 99,673 | 113,554 | |
Total | 831,254 | 719,806 | |
Non-current | 687,833 | 534,269 | |
Current | ¥ 143,421 | ¥ 185,537 |
Employee Benefits - Narrative (
Employee Benefits - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Employee Benefits [Abstract] | |||
Employee service period required for benefits | 3 years | ||
Weighted average duration of defined benefit obligations | 12 years 6 months | 12 years 7 months 6 days | |
Estimate of contributions expected to be paid to plan for next annual reporting period | ¥ 19,222 | ||
Defined contribution costs | ¥ 60,521 | ¥ 46,446 | ¥ 37,345 |
Employee Benefits - Summary of
Employee Benefits - Summary of Amounts Related to Defined Benefit Pension Plans Recognized in Consolidated Statements of Income (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of defined benefit plans [line items] | |||
Defined benefit costs | ¥ 18,697 | ¥ 16,772 | ¥ 17,379 |
Japan | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit costs | 2,741 | 2,990 | 2,992 |
Foreign | |||
Disclosure of defined benefit plans [line items] | |||
Defined benefit costs | ¥ 15,956 | ¥ 13,782 | ¥ 14,387 |
Employee Benefits - Summary o_2
Employee Benefits - Summary of Amounts Related to Defined Benefit Pension Plans Recognized in Consolidated Statements of Financial Position (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of net defined benefit liability (asset) [line items] | |||
Present value of defined benefit obligations | ¥ 444,790 | ¥ 401,096 | |
Fair value of plan assets | 391,743 | 345,630 | |
Net defined benefit liabilities (assets) | 116,469 | 96,777 | |
Consolidated statements of financial position | |||
Net defined benefit liabilities | 143,882 | 127,594 | |
Net defined benefit assets | 27,413 | 30,816 | |
Net defined benefit liabilities (assets) | 116,469 | 96,777 | |
Effect of asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liabilities (assets) | (63,422) | (41,311) | |
Consolidated statements of financial position | |||
Net defined benefit liabilities (assets) | (63,422) | (41,311) | |
Japan | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Present value of defined benefit obligations | 143,712 | 153,371 | |
Fair value of plan assets | 226,229 | 217,296 | |
Net defined benefit liabilities (assets) | (19,096) | (22,614) | |
Consolidated statements of financial position | |||
Net defined benefit liabilities | 8,317 | 8,202 | |
Net defined benefit assets | 27,413 | 30,816 | |
Net defined benefit liabilities (assets) | (19,096) | (22,614) | |
Japan | Effect of asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liabilities (assets) | (63,422) | (41,311) | ¥ (30,953) |
Consolidated statements of financial position | |||
Net defined benefit liabilities (assets) | (63,422) | (41,311) | ¥ (30,953) |
Foreign | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Present value of defined benefit obligations | 301,078 | 247,725 | |
Fair value of plan assets | 165,514 | 128,333 | |
Net defined benefit liabilities (assets) | 135,564 | 119,392 | |
Consolidated statements of financial position | |||
Net defined benefit liabilities | 135,564 | 119,392 | |
Net defined benefit assets | 0 | 0 | |
Net defined benefit liabilities (assets) | 135,564 | 119,392 | |
Foreign | Effect of asset ceiling | |||
Disclosure of net defined benefit liability (asset) [line items] | |||
Net defined benefit liabilities (assets) | 0 | 0 | |
Consolidated statements of financial position | |||
Net defined benefit liabilities (assets) | ¥ 0 | ¥ 0 |
Employee Benefits - Summary o_3
Employee Benefits - Summary of Changes in Present Value of the Defined Benefit Obligations (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Defined Benefit Plan, Change in Benefit Liability [Roll Forward] | ||
At beginning of the year | ¥ 401,096 | |
Remeasurement of defined benefit pension plans | ||
At end of the year | 444,790 | ¥ 401,096 |
Japan | ||
Defined Benefit Plan, Change in Benefit Liability [Roll Forward] | ||
At beginning of the year | 153,371 | |
Remeasurement of defined benefit pension plans | ||
At end of the year | 143,712 | 153,371 |
Foreign | ||
Defined Benefit Plan, Change in Benefit Liability [Roll Forward] | ||
At beginning of the year | 247,725 | |
Remeasurement of defined benefit pension plans | ||
At end of the year | 301,078 | 247,725 |
Present value of defined benefit obligation | ||
Defined Benefit Plan, Change in Benefit Liability [Roll Forward] | ||
At beginning of the year | 401,096 | 422,912 |
Current service cost | 14,236 | 13,961 |
Interest cost | 11,505 | 7,209 |
Remeasurement of defined benefit pension plans | ||
From changes in demographic assumptions | (143) | 266 |
From changes in financial assumptions | 5,879 | (53,338) |
Experience adjustments | (4,202) | 3,935 |
Past service cost | (67) | (38) |
Benefits paid | (22,257) | (19,467) |
Contributions by the employees | 4,610 | 3,807 |
Foreign currency translation differences | 34,132 | 21,849 |
At end of the year | 444,790 | 401,096 |
Present value of defined benefit obligation | Japan | ||
Defined Benefit Plan, Change in Benefit Liability [Roll Forward] | ||
At beginning of the year | 153,371 | 168,449 |
Current service cost | 3,004 | 3,174 |
Interest cost | 2,078 | 1,371 |
Remeasurement of defined benefit pension plans | ||
From changes in demographic assumptions | (341) | 164 |
From changes in financial assumptions | (5,508) | (10,735) |
Experience adjustments | 426 | 459 |
Past service cost | 0 | 0 |
Benefits paid | (9,318) | (9,511) |
Contributions by the employees | 0 | 0 |
Foreign currency translation differences | 0 | 0 |
At end of the year | 143,712 | 153,371 |
Present value of defined benefit obligation | Foreign | ||
Defined Benefit Plan, Change in Benefit Liability [Roll Forward] | ||
At beginning of the year | 247,725 | 254,462 |
Current service cost | 11,233 | 10,787 |
Interest cost | 9,427 | 5,838 |
Remeasurement of defined benefit pension plans | ||
From changes in demographic assumptions | 197 | 102 |
From changes in financial assumptions | 11,387 | (42,603) |
Experience adjustments | (4,628) | 3,477 |
Past service cost | (67) | (38) |
Benefits paid | (12,939) | (9,955) |
Contributions by the employees | 4,610 | 3,807 |
Foreign currency translation differences | 34,132 | 21,849 |
At end of the year | ¥ 301,078 | ¥ 247,725 |
Employee Benefits - Significant
Employee Benefits - Significant Actuarial Assumptions Used to Determine Present Value (Details) | Mar. 31, 2024 | Mar. 31, 2023 |
Japan | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 1.70% | 1.30% |
Future salary increases | 0% | 0% |
Foreign | ||
Disclosure of defined benefit plans [line items] | ||
Discount rate | 3% | 3.40% |
Future salary increases | 3.10% | 3% |
Employee Benefits - Schedule of
Employee Benefits - Schedule of Sensitivity Analysis for Actuarial Assumptions (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.50% | |
Percentage of reasonably possible decrease in actuarial assumption | (0.50%) | |
Japan | Discount Rate | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.50% | 0.50% |
Percentage of reasonably possible decrease in actuarial assumption | (0.50%) | (0.50%) |
Increase (decrease) in defined benefit obligation due to increase in assumption | ¥ (8,414) | ¥ (9,235) |
Increase (decrease) in defined benefit obligation due to decrease in assumption | ¥ 9,092 | ¥ 10,000 |
Japan | Future Salary Increases | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.50% | 0.50% |
Percentage of reasonably possible decrease in actuarial assumption | (0.50%) | (0.50%) |
Increase (decrease) in defined benefit obligation due to increase in assumption | ¥ 0 | ¥ 0 |
Increase (decrease) in defined benefit obligation due to decrease in assumption | ¥ 0 | ¥ 0 |
Foreign | Discount Rate | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.50% | 0.50% |
Percentage of reasonably possible decrease in actuarial assumption | (0.50%) | (0.50%) |
Increase (decrease) in defined benefit obligation due to increase in assumption | ¥ (17,458) | ¥ (14,411) |
Increase (decrease) in defined benefit obligation due to decrease in assumption | ¥ 19,599 | ¥ 15,931 |
Foreign | Future Salary Increases | ||
Disclosure of sensitivity analysis for actuarial assumptions [line items] | ||
Percentage of reasonably possible increase in actuarial assumption | 0.50% | 0.50% |
Percentage of reasonably possible decrease in actuarial assumption | (0.50%) | (0.50%) |
Increase (decrease) in defined benefit obligation due to increase in assumption | ¥ 4,463 | ¥ 3,578 |
Increase (decrease) in defined benefit obligation due to decrease in assumption | ¥ (4,129) | ¥ (3,278) |
Employee Benefits - Schedule _2
Employee Benefits - Schedule of Changes in Fair Value of Plan Assets (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of the year | ¥ (96,777) | |
Balance at end of the year | (116,469) | ¥ (96,777) |
Plan assets | ||
Disclosure of net defined benefit liability (asset) [line items] | ||
Balance at beginning of the year | 345,630 | 342,503 |
Interest income on plan assets | 7,527 | 4,608 |
Remeasurement of defined benefit plans Return on plan assets | 15,923 | (15,712) |
Contributions by the employer | 14,758 | 12,769 |
Contributions by the employees | 4,610 | 3,807 |
Benefits paid | (15,161) | (13,589) |
Foreign currency translation differences | 18,457 | 11,244 |
Balance at end of the year | ¥ 391,743 | ¥ 345,630 |
Employee Benefits - Schedule _3
Employee Benefits - Schedule of Breakdown of Fair Value of Plan Assets by Asset Class (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of fair value of plan assets [line items] | ||
Total plan assets | ¥ 391,743 | ¥ 345,630 |
With quoted prices in active markets | ||
Disclosure of fair value of plan assets [line items] | ||
Life insurance company general accounts | 0 | 0 |
Investment trust funds | 0 | 0 |
Cash and cash equivalent | 10,951 | 7,681 |
Others | 1,541 | 517 |
Total plan assets | 111,236 | 81,360 |
No quoted prices in active markets | ||
Disclosure of fair value of plan assets [line items] | ||
Life insurance company general accounts | 70,070 | 70,775 |
Investment trust funds | 0 | 40,026 |
Cash and cash equivalent | 0 | 0 |
Others | 24,736 | 18,727 |
Total plan assets | 280,507 | 264,269 |
Japan | ||
Disclosure of fair value of plan assets [line items] | ||
Total plan assets | 226,229 | 217,296 |
Japan | With quoted prices in active markets | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 11,796 | 9,911 |
Bonds | 399 | 14,567 |
Japan | No quoted prices in active markets | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 2,803 | 2,178 |
Bonds | 17,276 | 17,405 |
Foreign | ||
Disclosure of fair value of plan assets [line items] | ||
Total plan assets | 165,514 | 128,333 |
Foreign | With quoted prices in active markets | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 53,396 | 38,277 |
Bonds | 33,153 | 10,407 |
Foreign | No quoted prices in active markets | ||
Disclosure of fair value of plan assets [line items] | ||
Equities | 86,372 | 81,265 |
Bonds | ¥ 79,251 | ¥ 33,893 |
Employee Benefits - Schedule _4
Employee Benefits - Schedule of Changes in Effect of Asset Ceiling (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of fair value of plan assets [line items] | ||
Balance at beginning of the year | ¥ (96,777) | |
Balance at end of the year | (116,469) | ¥ (96,777) |
Effect of asset ceiling | ||
Disclosure of fair value of plan assets [line items] | ||
Balance at beginning of the year | 41,311 | |
Balance at end of the year | 63,422 | 41,311 |
Japan | ||
Disclosure of fair value of plan assets [line items] | ||
Balance at beginning of the year | 22,614 | |
Balance at end of the year | 19,096 | 22,614 |
Japan | Effect of asset ceiling | ||
Disclosure of fair value of plan assets [line items] | ||
Balance at beginning of the year | 41,311 | 30,953 |
Interest income | 549 | 248 |
Remeasurement Changes in effect of asset ceiling | 21,561 | 10,110 |
Balance at end of the year | ¥ 63,422 | ¥ 41,311 |
Employee Benefits - Summary o_4
Employee Benefits - Summary of Major Employee Benefits Expenses other than Retirement Benefits (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Employee Benefits [Abstract] | |||
Salary | ¥ 688,316 | ¥ 573,080 | ¥ 458,039 |
Bonuses | 161,821 | 133,792 | 127,888 |
Other | ¥ 274,094 | ¥ 237,857 | ¥ 187,440 |
Provisions - Schedule of Reconc
Provisions - Schedule of Reconciliation of Changes in Provisions (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | ¥ 564,329 | ¥ 495,701 |
Increases | 1,036,551 | 1,055,328 |
Decreases (utilized) | (1,109,294) | (985,905) |
Decreases (reversed) | (44,568) | (37,985) |
Foreign currency translation differences | 91,775 | 37,190 |
Ending balance | 538,793 | 564,329 |
Legal proceedings provision | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 64,290 | 42,869 |
Increases | 54,679 | 25,096 |
Decreases (utilized) | (93,016) | (3,981) |
Decreases (reversed) | (6,864) | (95) |
Foreign currency translation differences | 3,253 | 402 |
Ending balance | 22,342 | 64,290 |
Restructuring | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 8,951 | 13,353 |
Increases | 14,326 | 7,807 |
Decreases (utilized) | (10,716) | (12,098) |
Decreases (reversed) | (1,664) | (1,066) |
Foreign currency translation differences | 1,205 | 956 |
Ending balance | 12,102 | 8,951 |
Rebates and return reserves | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 465,214 | 404,982 |
Increases | 956,682 | 1,005,330 |
Decreases (utilized) | (993,456) | (953,287) |
Decreases (reversed) | (30,307) | (25,624) |
Foreign currency translation differences | 85,127 | 33,813 |
Ending balance | 483,259 | 465,214 |
Other | ||
Reconciliation of changes in other provisions [abstract] | ||
Beginning balance | 25,874 | 34,497 |
Increases | 10,864 | 17,095 |
Decreases (utilized) | (12,106) | (16,538) |
Decreases (reversed) | (5,734) | (11,200) |
Foreign currency translation differences | 2,191 | 2,019 |
Ending balance | ¥ 21,089 | ¥ 25,874 |
Provisions - Narrative (Details
Provisions - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2025 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of other provisions [line items] | ||||
Current portion of provision | ¥ 524,420 | ¥ 508,360 | ¥ 443,502 | |
Non-current portion of provision | 14,373 | 55,969 | 52,199 | |
Expense of restructuring activities | 73,835 | 56,915 | 83,357 | |
Rebates payable | 253,832 | 293,385 | ||
Forecast | ||||
Disclosure of other provisions [line items] | ||||
Expense of restructuring activities | ¥ 140,000 | |||
Personnel costs | ||||
Disclosure of other provisions [line items] | ||||
Expense of restructuring activities | ¥ 9,769 | ¥ 9,683 | ¥ 9,420 |
Provisions - Schedule of Restru
Provisions - Schedule of Restructuring Expenses (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Cash: | |||
Total | ¥ 73,835 | ¥ 56,915 | ¥ 83,357 |
Non-Cash: | |||
Depreciation and impairment | 7,523 | 2,320 | 479 |
Total | 81,358 | 59,234 | 83,836 |
Severance | |||
Cash: | |||
Total | 13,685 | 10,605 | 15,230 |
Consulting fees | |||
Cash: | |||
Total | 11,528 | 12,709 | 2,963 |
Other | |||
Cash: | |||
Total | ¥ 48,622 | ¥ 33,601 | ¥ 65,163 |
Other Liabilities - Schedule of
Other Liabilities - Schedule of Other Liabilities (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Subclassifications of assets, liabilities and equities [abstract] | ||
Accrued expenses | ¥ 627,659 | ¥ 531,891 |
Deferred income | 30,015 | 32,103 |
Other | 42,439 | 68,083 |
Total | 700,112 | 632,078 |
Non-current | 80,938 | 65,389 |
Current | ¥ 619,174 | ¥ 566,689 |
Other Liabilities - Narrative (
Other Liabilities - Narrative (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Subclassifications of assets, liabilities and equities [abstract] | ||
Accrued labor cost | ¥ 283,359 | ¥ 229,130 |
Government grants received | ¥ 14,211 | ¥ 15,894 |
Trade and Other Payables (Detai
Trade and Other Payables (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Trade and other payables [abstract] | ||
Trade payables | ¥ 319,955 | ¥ 307,453 |
Other payables | 227,566 | 341,780 |
Total | ¥ 547,521 | ¥ 649,233 |
Equity and Other Equity Items -
Equity and Other Equity Items - Schedule of Shares Activity (Details) - shares shares in Thousands | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Equity [abstract] | |||
Authorized shares as of the beginning of the year | 3,500,000 | 3,500,000 | |
Shares issued: | |||
At the beginning of the year | 1,582,296 | 1,582,253 | |
Exercise of stock options | 123 | 44 | |
Issuance of shares | 0 | 0 | |
As of the end of the year | 1,582,419 | 1,582,296 |
Equity and Other Equity Items_2
Equity and Other Equity Items - Narrative (Details) - JPY (¥) shares in Thousands, ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Equity [Line Items] | |||
Number of shares outstanding | 1,582,419 | 1,582,296 | 1,582,253 |
Disposal of treasury shares | ¥ 1 | ¥ 1 | ¥ 1 |
Acquisition of treasury shares | 2,367 | ¥ 27,065 | ¥ 79,447 |
Board of Directors resolution | |||
Equity [Line Items] | |||
Treasury shares acquired (in shares) | 6,908 | ||
Equity-Settled LTIP | |||
Equity [Line Items] | |||
Disposal of treasury shares | ¥ 47,614 | ¥ 27,599 | |
Treasury shares | Equity-Settled LTIP | |||
Equity [Line Items] | |||
Decrease in number of shares outstanding (in shares) | 13,958 | 8,091 | |
ESOP and BIP Trust | |||
Equity [Line Items] | |||
Treasury shares acquired (in shares) | 520 | 554 | |
Number of treasury shares sold (in shares) | 847 | 3,500 | |
Treasury shares | |||
Equity [Line Items] | |||
Number of shares outstanding | 13,405 | 27,767 | 31,892 |
Disposal of treasury shares | ¥ 1 | ||
Acquisition of treasury shares | ¥ 2,367 | ¥ 27,060 | ¥ 79,447 |
Treasury shares | Board of Directors resolution | |||
Equity [Line Items] | |||
Acquisition of treasury shares | ¥ 24,993 | ||
Treasury shares | ESOP and BIP Trust | |||
Equity [Line Items] | |||
Number of shares outstanding | 5,888 | 6,215 | 9,161 |
Equity and Other Equity Items_3
Equity and Other Equity Items - Schedule of Dividends Declared and Paid (Details) - JPY (¥) ¥ / shares in Units, ¥ in Millions | 3 Months Ended | ||||||
Jun. 30, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Equity [abstract] | |||||||
Dividends | ¥ 148,037 | ¥ 140,475 | ¥ 140,474 | ¥ 140,365 | ¥ 142,387 | ¥ 141,859 | |
Dividends (in JPY per share) | ¥ 94 | ¥ 90 | ¥ 90 | ¥ 90 | ¥ 90 | ¥ 90 | |
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners | ¥ 148,041 | ||||||
Dividends proposed or declared before financial statements authorised for issue but not recognised as distribution to owners per share | ¥ 94 |
Financial Instruments - Schedul
Financial Instruments - Schedule of Financial Assets and Liabilities at Fair Value (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Measured at fair value through profit or loss | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | ¥ 23,352 | ¥ 23,400 |
Measured at fair value through profit or loss | Derivative financial instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 13,783 | 15,261 |
Measured at fair value through profit or loss | Financial liabilities associated with contingent consideration arrangements | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 7,772 | 8,139 |
Measured at fair value through profit or loss | Lease liabilities | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 619,639 | 479,351 |
Measured at fair value through profit or loss | Other | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,797 | |
Measured at fair value through profit or loss | Trade and other payables | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 649,233 | |
Derivative hedging instruments | Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 11,325 | 25,460 |
Derivative hedging instruments | Derivative financial instruments | Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 11,325 | 25,460 |
Financial liabilities measured at fair value | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 34,677 | 48,860 |
Financial liabilities measured at fair value | Derivative financial instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 25,108 | 40,721 |
Financial liabilities measured at fair value | Financial liabilities associated with contingent consideration arrangements | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 7,772 | 8,139 |
Financial liabilities measured at fair value | Other | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 1,797 | |
Other financial liabilities | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 6,187,850 | 5,702,520 |
Other financial liabilities | Lease liabilities | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 619,639 | 479,351 |
Other financial liabilities | Lease liabilities | Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 619,639 | 479,351 |
Other financial liabilities | Other | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 176,938 | 191,595 |
Other financial liabilities | Other | Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 176,938 | 191,595 |
Other financial liabilities | Trade and other payables | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 547,521 | 649,233 |
Other financial liabilities | Trade and other payables | Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 547,521 | 649,233 |
Other financial liabilities | Bonds and loans | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 4,843,752 | 4,382,341 |
Other financial liabilities | Bonds and loans | Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial liabilities | 4,843,752 | 4,382,341 |
Measured at fair value through other comprehensive income | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 266,621 | 228,811 |
Measured at fair value through other comprehensive income | Equity instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 182,887 | 157,731 |
Measured at fair value through other comprehensive income | Trade and other receivables | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 83,734 | 71,080 |
Measured at fair value through profit or loss | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 44,482 | 53,435 |
Measured at fair value through profit or loss | Derivative financial instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 17,617 | 17,131 |
Measured at fair value through profit or loss | Investments in convertible notes | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 13,459 | 11,435 |
Measured at fair value through profit or loss | Investments in debt instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 1,113 | 1,063 |
Measured at fair value through profit or loss | Financial assets associated with contingent consideration arrangements | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 12,293 | 23,806 |
Derivative hedging instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 102,606 | 62,522 |
Derivative hedging instruments | Derivative financial instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 102,606 | 62,522 |
Financial assets measured at fair value | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 413,709 | 344,769 |
Financial assets measured at fair value | Equity instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 182,887 | 157,731 |
Financial assets measured at fair value | Derivative financial instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 120,223 | 79,654 |
Financial assets measured at fair value | Investments in convertible notes | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 13,459 | 11,435 |
Financial assets measured at fair value | Investments in debt instruments | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 1,113 | 1,063 |
Financial assets measured at fair value | Financial assets associated with contingent consideration arrangements | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 12,293 | 23,806 |
Financial assets measured at fair value | Trade and other receivables | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 83,734 | 71,080 |
Financial assets measured at amortized cost | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 1,068,361 | 1,138,047 |
Financial assets measured at amortized cost | Trade and other receivables | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 584,669 | 578,349 |
Financial assets measured at amortized cost | Other | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | 25,892 | 26,168 |
Financial assets measured at amortized cost | Cash and cash equivalents | ||
Disclosure Of Financial Assets And Liabilities [Line Items] | ||
Financial assets | ¥ 457,800 | ¥ 533,530 |
Financial Instruments - Sched_2
Financial Instruments - Schedule of Fair Value Measurement of Assets and Liabilities (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | ¥ 15,108,792 | ¥ 13,957,750 |
Liabilities | 7,834,788 | 7,603,078 |
Fair value | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 413,709 | 344,769 |
Liabilities | 34,677 | 48,860 |
Fair value | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 13,783 | 15,261 |
Fair value | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 11,325 | 25,460 |
Fair value | Financial liabilities associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 7,772 | 8,139 |
Fair value | Other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 1,797 | |
Fair value | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 17,617 | 17,131 |
Fair value | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 102,606 | 62,522 |
Fair value | Investments in convertible notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 13,459 | 11,435 |
Fair value | Investments in debt instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 1,113 | 1,063 |
Fair value | Financial assets associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 12,293 | 23,806 |
Fair value | Trade and other receivables | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 83,734 | 71,080 |
Fair value | Equity instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 182,887 | 157,731 |
Fair value | Level 1 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 93,962 | 74,495 |
Liabilities | 0 | 0 |
Fair value | Level 1 | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | 0 |
Fair value | Level 1 | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | 0 |
Fair value | Level 1 | Financial liabilities associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | 0 |
Fair value | Level 1 | Other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | |
Fair value | Level 1 | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 1 | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 1 | Investments in convertible notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 1 | Investments in debt instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 1 | Financial assets associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 1 | Trade and other receivables | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 1 | Equity instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 93,962 | 74,495 |
Fair value | Level 2 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 194,851 | 144,144 |
Liabilities | 16,002 | 34,131 |
Fair value | Level 2 | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 4,677 | 8,672 |
Fair value | Level 2 | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 11,325 | 25,460 |
Fair value | Level 2 | Financial liabilities associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | 0 |
Fair value | Level 2 | Other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | |
Fair value | Level 2 | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 8,511 | 10,542 |
Fair value | Level 2 | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 102,606 | 62,522 |
Fair value | Level 2 | Investments in convertible notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 2 | Investments in debt instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 2 | Financial assets associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 2 | Trade and other receivables | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 83,734 | 71,080 |
Fair value | Level 2 | Equity instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 3 | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 124,896 | 126,129 |
Liabilities | 18,675 | 14,728 |
Fair value | Level 3 | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 9,106 | 6,589 |
Fair value | Level 3 | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 0 | 0 |
Fair value | Level 3 | Financial liabilities associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 7,772 | 8,139 |
Fair value | Level 3 | Other | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Liabilities | 1,797 | |
Fair value | Level 3 | Derivatives | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 9,106 | 6,589 |
Fair value | Level 3 | Derivatives | Derivative hedging instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 3 | Investments in convertible notes | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 13,459 | 11,435 |
Fair value | Level 3 | Investments in debt instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 1,113 | 1,063 |
Fair value | Level 3 | Financial assets associated with contingent consideration arrangements | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 12,293 | 23,806 |
Fair value | Level 3 | Trade and other receivables | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | 0 | 0 |
Fair value | Level 3 | Equity instruments | ||
Disclosure Of Fair Value Measurement Of Assets And Liabilities [Line Items] | ||
Assets | ¥ 88,925 | ¥ 83,236 |
Financial Instruments - Narrati
Financial Instruments - Narrative (Details) ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2024 JPY (¥) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2024 USD ($) | Mar. 31, 2024 JPY (¥) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 JPY (¥) | |
Disclosure of detailed information about financial instruments [line items] | ||||||
Cumulative gain on equity investments reclassified from other comprehensive income to retained earnings upon disposal | ¥ (1,224) | ¥ 6,935 | ||||
Fair value of equity investments on dates of disposal | ¥ 6,458 | ¥ 21,800 | ||||
Hybrid subordinated bonds | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Principal amount in contractual currency (millions) | $ 500,000 | 500,000 | $ 500,000 | |||
Foreign currency denominated loans | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Fair value | 227,309 | 200,491 | ||||
Foreign currency denominated bonds | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Fair value | ¥ 2,679,660 | ¥ 2,548,795 | ||||
Minimum | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Measurement input, EBITDA rate | 5.2 | |||||
Maximum | ||||||
Disclosure of detailed information about financial instruments [line items] | ||||||
Measurement input, EBITDA rate | 13 |
Financial Instruments - Sched_3
Financial Instruments - Schedule of Level 3 Financial Assets Fair Values (Details) - Level 3 - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Financial assets associated with contingent consideration arrangements | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
As of the beginning of the year | ¥ 23,806 | ¥ 26,852 |
Changes recognized as finance income (expenses) | (702) | 1,905 |
Changes in fair value of financial assets associated with contingent consideration due to other elements than time value | (12,415) | (3,412) |
Changes in fair value of financial assets measured at fair value through OCI and exchange differences on translation of foreign operations | 1,604 | 2,182 |
Settled and received during the period | 0 | (3,722) |
Purchases | 0 | 0 |
Sales | 0 | 0 |
Transfers to Level 1 | 0 | 0 |
Acquisition from conversion of convertible notes | 0 | 0 |
Transfers from investments accounted for using the equity method | 0 | 0 |
Transfers to investments accounted for using the equity method | 0 | 0 |
As of the end of the year | 12,293 | 23,806 |
Equity instruments | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
As of the beginning of the year | 83,236 | 64,263 |
Changes recognized as finance income (expenses) | 0 | 0 |
Changes in fair value of financial assets associated with contingent consideration due to other elements than time value | 0 | 0 |
Changes in fair value of financial assets measured at fair value through OCI and exchange differences on translation of foreign operations | 4,900 | 8,244 |
Settled and received during the period | 0 | 0 |
Purchases | 1,760 | 8,527 |
Sales | (217) | (22) |
Transfers to Level 1 | (5,008) | (1,711) |
Acquisition from conversion of convertible notes | 4,254 | 1,368 |
Transfers from investments accounted for using the equity method | 0 | 3,404 |
Transfers to investments accounted for using the equity method | 0 | (837) |
As of the end of the year | ¥ 88,925 | ¥ 83,236 |
Financial Instruments - Sched_4
Financial Instruments - Schedule of Fair Value of Contingent Consideration Classified as Level 3 (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Contingent liabilities recognised in business combination at beginning of period | ¥ 8,139 | ¥ 5,844 |
Changes in the fair value during the period | 8,678 | 2,605 |
Settled and paid during the period | (9,032) | (728) |
Foreign currency translation differences | (13) | 418 |
Contingent liabilities recognised in business combination at end of period | 7,772 | 8,139 |
Within one year | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Contingent liabilities recognised in business combination at beginning of period | 918 | |
Contingent liabilities recognised in business combination at end of period | 2,207 | 918 |
Between one and three years | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Contingent liabilities recognised in business combination at beginning of period | 4,537 | |
Contingent liabilities recognised in business combination at end of period | 3,698 | 4,537 |
Between three and five years | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Contingent liabilities recognised in business combination at beginning of period | 2,980 | |
Contingent liabilities recognised in business combination at end of period | 1,855 | 2,980 |
More than five years | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Contingent liabilities recognised in business combination at beginning of period | 1,031 | |
Contingent liabilities recognised in business combination at end of period | ¥ 1,171 | ¥ 1,031 |
Financial Instruments - Sched_5
Financial Instruments - Schedule of Financial Liabilities Not Measured at Fair Value (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Bonds | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Carrying amount | ¥ 3,775,879 | ¥ 3,618,314 |
Fair value | 3,420,668 | 3,291,147 |
Long-term loans | Long-term loans | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Carrying amount | 750,622 | 723,772 |
Fair value | ¥ 746,831 | ¥ 721,419 |
Financial Instruments - Sched_6
Financial Instruments - Schedule of Derivative Assets and Liabilities (Details) - Derivative hedging instruments - Currency risk - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Euro | Forward exchange contracts, selling | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging instrument, liabilities | ¥ (9,663) | ¥ (4,799) |
Euro | Forward exchange contracts, buying | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging instrument, assets | 6,268 | 31 |
United States Dollar | Forward exchange contracts, selling | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging instrument, liabilities | (2,618) | (341) |
United States Dollar | Currency swap, buying | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Hedging instrument, liabilities | 41,044 | |
Hedging instrument, assets | 95,368 | |
Contract amount | Euro | Forward exchange contracts, selling | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 710,301 | 975,368 |
Contract amount | Euro | Forward exchange contracts, buying | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 336,271 | 1,056,070 |
Contract amount | United States Dollar | Forward exchange contracts, selling | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 170,364 | 179,942 |
Contract amount | United States Dollar | Currency swap, buying | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 874,974 | 717,114 |
Contract amount to be settled in more than one year | Euro | Forward exchange contracts, selling | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 0 | 0 |
Contract amount to be settled in more than one year | Euro | Forward exchange contracts, buying | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 0 | 0 |
Contract amount to be settled in more than one year | United States Dollar | Forward exchange contracts, selling | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | 0 | 0 |
Contract amount to be settled in more than one year | United States Dollar | Currency swap, buying | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | ¥ 874,974 | ¥ 717,114 |
Financial Instruments - Sched_7
Financial Instruments - Schedule of Interest Rate and Currency Hedging Instruments (Details) - Interest risk - Derivative hedging instruments - Currency and interest rate swaps - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | ¥ 1,322,069 | ¥ 1,098,862 |
Hedging instrument, liabilities | 101,128 | 44,042 |
Contract amount to be settled in more than one year | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Contract amount | ¥ 1,052,069 | ¥ 1,048,862 |
Financial Instruments - Sched_8
Financial Instruments - Schedule of Derivative Hedging Activities (Details) € in Millions, ¥ in Millions, $ in Millions | 12 Months Ended | |||||
Mar. 31, 2024 EUR (€) ¥ / $ | Mar. 31, 2023 EUR (€) ¥ / $ | Mar. 31, 2024 USD ($) | Mar. 31, 2024 JPY (¥) | Mar. 31, 2023 USD ($) | Mar. 31, 2023 JPY (¥) | |
Cash flow hedges | Interest risk | Interest rate swaps | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Notional | $ 575 | ¥ 90,000 | $ 575 | ¥ 75,000 | ||
Cash flow hedges | Interest risk | Forward interest rate | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Notional | 270,000 | 230,000 | ||||
Cash flow hedges | Interest risk | Currency and interest rate swaps | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Notional | 1,322,069 | 1,098,862 | ||||
Carrying amount – liabilities | (101,128) | (44,042) | ||||
Cash flow hedges | Currency and interest risk | Currency and interest rate swaps | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Notional | $ | 6,675 | 6,675 | ||||
Net investment hedges | Currency and interest risk | Foreign currency denominated bonds and loans | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Notional | € 6,628 | € 6,591 | 3,581 | 4,086 | ||
Net investment hedges | Currency and interest risk | Forward exchange contracts | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Notional | € 1,000 | € 4,384 | $ 1,168 | $ 1,368 | ||
United States Dollar | Cash flow hedges | Interest risk | Interest rate swaps | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | 7,172 | 5,148 | ||||
Carrying amount – liabilities | ¥ 0 | ¥ 0 | ||||
Average rate of hedging instrument | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
United States Dollar | Cash flow hedges | Currency and interest risk | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | ¥ 95,368 | |||||
Carrying amount – liabilities | ¥ 0 | |||||
United States Dollar | Cash flow hedges | Currency and interest risk | Currency and interest rate swaps | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | ¥ 55,223 | |||||
Carrying amount – liabilities | ¥ 14,179 | |||||
Average rate of hedging instrument | 1.85% | 1.85% | 1.85% | |||
Average foreign exchange rate | ¥ / $ | 131.08 | 107.43 | ||||
United States Dollar | Cash flow hedges | Currency and interest risk | Interest Rate And Currency Swap Netting | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Average rate of hedging instrument | (0.09%) | (0.09%) | (0.09%) | |||
United States Dollar | Net investment hedges | Currency and interest risk | Foreign currency denominated bonds and loans | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | ¥ 0 | ¥ 0 | ||||
Carrying amount – liabilities | 542,399 | 545,327 | ||||
United States Dollar | Net investment hedges | Currency and interest risk | Forward exchange contracts | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | 0 | 728 | ||||
Carrying amount – liabilities | 2,618 | 1,069 | ||||
JPY | Cash flow hedges | Interest risk | Interest rate swaps | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | 33 | 0 | ||||
Carrying amount – liabilities | ¥ 0 | ¥ 50 | ||||
Average rate of hedging instrument | 0.57% | 0.56% | 0.57% | 0.57% | 0.56% | 0.56% |
JPY | Cash flow hedges | Interest risk | Forward interest rate | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | ¥ 34 | ¥ 0 | ||||
Carrying amount – liabilities | ¥ 1,477 | ¥ 2,100 | ||||
Average rate of hedging instrument | 0.53% | 0.54% | 0.53% | 0.53% | 0.54% | 0.54% |
Euro | Net investment hedges | Currency and interest risk | Foreign currency denominated bonds and loans | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | ¥ 0 | ¥ 0 | ||||
Carrying amount – liabilities | 1,081,796 | 957,993 | ||||
Euro | Net investment hedges | Currency and interest risk | Forward exchange contracts | ||||||
Disclosure of detailed information about hedging instruments [line items] | ||||||
Carrying amount – assets | 0 | 1,424 | ||||
Carrying amount – liabilities | ¥ 7,229 | ¥ 8,062 |
Financial Instruments - Sched_9
Financial Instruments - Schedule of Hedging Instruments Balances (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Interest rate swaps | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Reserve of cash flow hedges, continuing hedges | ¥ 4,063 | ¥ 2,948 |
Forward interest rate | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Reserve of cash flow hedges, continuing hedges | (19,283) | (21,182) |
Currency and interest rate swaps | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Reserve of exchange differences on translation, continuing hedges | (52,236) | (72,678) |
Balance in hedge cost reserve | (15,930) | (23,127) |
Hedge related to acquisition | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Reserve of exchange differences on translation, continuing hedges | 3,560 | 3,560 |
Foreign currency denominated bonds and loans | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Reserve of exchange differences on translation, continuing hedges | 344,866 | 188,343 |
Forward exchange contracts | ||
Disclosure of detailed information about hedging instruments [line items] | ||
Reserve of exchange differences on translation, continuing hedges | ¥ 189,796 | ¥ 80,584 |
Financial Instruments - Sche_10
Financial Instruments - Schedule of Derivatives Reclassifications (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Amounts recognized in OCI | |||
Hedging cost | ¥ 7,197 | ¥ (16,993) | ¥ 2,457 |
Interest rate swaps | |||
Amounts recognized in OCI | |||
Gains (losses) on cash flow hedges | 4,098 | 3,993 | |
Forward interest rate | |||
Amounts recognized in OCI | |||
Gains (losses) on cash flow hedges | 387 | (2,123) | |
Currency and interest rate swaps | |||
Amounts recognized in OCI | |||
Gains (losses) on cash flow hedges | 166,574 | 54,566 | |
Hedging cost | 12,392 | (21,426) | |
Foreign currency denominated bonds and loans | |||
Amounts recognized in OCI | |||
Gains (losses) on net investment hedges | 169,111 | 142,456 | |
Forward exchange contracts | |||
Amounts recognized in OCI | |||
Gains (losses) on net investment hedges | 109,212 | 25,806 | |
Cash flow hedge | |||
Amount reclassified to profit or loss | |||
Reclassification adjustments on cash flow hedges | (137,122) | (89,289) | |
Cash flow hedge | Interest rate swaps | |||
Amount reclassified to profit or loss | |||
Reclassification adjustments on cash flow hedges | (2,492) | (360) | |
Cash flow hedge | Forward interest rate | |||
Amount reclassified to profit or loss | |||
Reclassification adjustments on cash flow hedges | 2,349 | 2,312 | |
Hedging costs | |||
Amount reclassified to profit or loss | |||
Reclassification adjustments on cash flow hedges | ¥ (2,024) | ¥ (3,052) |
Financial Instruments - Sche_11
Financial Instruments - Schedule of Age of Trade Receivables that are Past Due but not Impaired and Analysis of Impairment Analysis (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 |
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 612,439 | ¥ 575,431 | |
Weighted average loss rate (%) | 1.30% | 1.30% | |
Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 620,815 | ¥ 582,787 | |
Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | (8,376) | (7,356) | ¥ (9,390) |
Current | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 524,901 | ¥ 497,576 | |
Weighted average loss rate (%) | 0.50% | 0.40% | |
Current | Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 527,383 | ¥ 499,795 | |
Current | Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | (2,482) | (2,219) | |
Within 30 days | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 34,853 | ¥ 23,610 | |
Weighted average loss rate (%) | 0.30% | 0.30% | |
Within 30 days | Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 34,960 | ¥ 23,676 | |
Within 30 days | Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | (107) | (66) | |
Over 30 days but within 60 days | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 12,502 | ¥ 14,933 | |
Weighted average loss rate (%) | 1.10% | 0.40% | |
Over 30 days but within 60 days | Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 12,645 | ¥ 14,999 | |
Over 30 days but within 60 days | Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | (143) | (66) | |
Over 60 days but within 90 days | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 3,857 | ¥ 8,942 | |
Weighted average loss rate (%) | 2.50% | 0.40% | |
Over 60 days but within 90 days | Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 3,956 | ¥ 8,975 | |
Over 60 days but within 90 days | Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | (99) | (33) | |
Over 90 days but within one year | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 21,042 | ¥ 19,218 | |
Weighted average loss rate (%) | 2.10% | 3.50% | |
Over 90 days but within one year | Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 21,492 | ¥ 19,912 | |
Over 90 days but within one year | Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | (450) | (694) | |
Over one year | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 15,284 | ¥ 11,152 | |
Weighted average loss rate (%) | 25% | 27.70% | |
Over one year | Acquisition cost | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ 20,379 | ¥ 15,430 | |
Over one year | Accumulated impairment losses | |||
Disclosure of maturity analysis of assets [Line Items] | |||
Trade receivables | ¥ (5,095) | ¥ (4,278) |
Financial Instruments - Summary
Financial Instruments - Summary of Increase (Decrease) in Loss Allowance for Trade Receivables (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Disclosure of other provisions [line items] | ||
Impairment loss allowance, trade receivables at the beginning of the period | ¥ (575,431) | |
Impairment loss allowance, trade receivables at the end of the period | (612,439) | ¥ (575,431) |
Accumulated impairment losses | ||
Disclosure of other provisions [line items] | ||
Impairment loss allowance, trade receivables at the beginning of the period | 7,356 | 9,390 |
Impairment loss allowance, trade receivables at the end of the period | 8,376 | 7,356 |
Bad debt provision calculated by simplified approach | Accumulated impairment losses | ||
Disclosure of other provisions [line items] | ||
Impairment loss allowance, trade receivables at the beginning of the period | 3,327 | 3,411 |
Impairment loss allowance, trade receivables at the end of the period | 3,833 | 3,327 |
Bad debt provision recognized to credit- impaired financial assets | Accumulated impairment losses | ||
Disclosure of other provisions [line items] | ||
Impairment loss allowance, trade receivables at the beginning of the period | 4,029 | 5,979 |
Impairment loss allowance, trade receivables at the end of the period | 4,543 | 4,029 |
Trade and other receivables | Accumulated impairment losses | ||
Disclosure of other provisions [line items] | ||
Impairment loss recognised in profit or loss | 1,419 | 282 |
Decreases (written off) | (814) | (3,228) |
Decreases (reversed) | (555) | (332) |
Foreign currency translation differences | 971 | 1,244 |
Trade and other receivables | Bad debt provision calculated by simplified approach | Accumulated impairment losses | ||
Disclosure of other provisions [line items] | ||
Impairment loss recognised in profit or loss | 857 | 92 |
Decreases (written off) | (437) | (719) |
Decreases (reversed) | (324) | (119) |
Foreign currency translation differences | 410 | 662 |
Trade and other receivables | Bad debt provision recognized to credit- impaired financial assets | Accumulated impairment losses | ||
Disclosure of other provisions [line items] | ||
Impairment loss recognised in profit or loss | 561 | 190 |
Decreases (written off) | (377) | (2,509) |
Decreases (reversed) | (231) | (213) |
Foreign currency translation differences | ¥ 561 | ¥ 582 |
Financial Instruments - Sche_12
Financial Instruments - Schedule of Derivative Financial Liabilities by Maturity (Details) - Measured at fair value through profit or loss - JPY (¥) ¥ in Millions | Mar. 31, 2024 | Mar. 31, 2023 |
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | ¥ 23,352 | ¥ 23,400 |
Bonds | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | 4,092,879 | 3,658,314 |
Financial liabilities, at fair value | 5,090,592 | 4,640,222 |
Bonds | Within one year | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 913,282 | 331,223 |
Bonds | Between one and two years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 206,481 | 586,179 |
Bonds | Between two and three years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 774,784 | 182,261 |
Bonds | Between three and four years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 185,176 | 685,321 |
Bonds | Between four and five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 326,949 | 164,573 |
Bonds | More than five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 2,683,919 | 2,690,665 |
Long-term loans | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | 750,873 | 724,027 |
Financial liabilities, at fair value | 805,847 | 767,558 |
Long-term loans | Within one year | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 66,983 | 113,404 |
Long-term loans | Between one and two years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 100,467 | 60,482 |
Long-term loans | Between two and three years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 113,605 | 92,999 |
Long-term loans | Between three and four years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 347,612 | 107,483 |
Long-term loans | Between four and five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 76,162 | 317,706 |
Long-term loans | More than five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 101,019 | 75,484 |
Trade and other payables | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | 649,233 | |
Financial liabilities, at fair value | 547,521 | 649,233 |
Trade and other payables | Within one year | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 547,521 | 649,233 |
Trade and other payables | Between one and two years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 0 | 0 |
Trade and other payables | Between two and three years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 0 | 0 |
Trade and other payables | Between three and four years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 0 | 0 |
Trade and other payables | Between four and five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 0 | 0 |
Trade and other payables | More than five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 0 | 0 |
Lease liabilities | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | 619,639 | 479,351 |
Financial liabilities, at fair value | 900,755 | 665,983 |
Lease liabilities | Within one year | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 66,208 | 59,623 |
Lease liabilities | Between one and two years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 60,944 | 56,009 |
Lease liabilities | Between two and three years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 55,831 | 51,229 |
Lease liabilities | Between three and four years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 53,459 | 46,111 |
Lease liabilities | Between four and five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 51,235 | 41,281 |
Lease liabilities | More than five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 613,078 | 411,730 |
Derivative liabilities | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | 25,108 | 40,721 |
Financial liabilities, at fair value | 27,590 | (64,835) |
Derivative liabilities | Within one year | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 16,547 | 15,858 |
Derivative liabilities | Between one and two years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 762 | (509) |
Derivative liabilities | Between two and three years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 1,053 | (2,324) |
Derivative liabilities | Between three and four years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 1,113 | (2,231) |
Derivative liabilities | Between four and five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 1,096 | (2,243) |
Derivative liabilities | More than five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | 7,019 | (73,386) |
Derivative assets | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Carrying amount | (120,223) | (79,654) |
Financial liabilities, at fair value | (400,354) | (234,200) |
Derivative assets | Within one year | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | (56,538) | (28,814) |
Derivative assets | Between one and two years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | (40,327) | (17,443) |
Derivative assets | Between two and three years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | (39,186) | (13,297) |
Derivative assets | Between three and four years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | (73,404) | (13,302) |
Derivative assets | Between four and five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | (35,218) | (33,858) |
Derivative assets | More than five years | ||
Disclosure of maturity analysis for financial liabilities [Line Items] | ||
Financial liabilities, at fair value | ¥ (155,681) | ¥ (127,486) |
Financial Instruments - Sche_13
Financial Instruments - Schedule of Reconciliation of Liabilities Arising from Financing Activities (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | ¥ 4,820,649 | ¥ 4,801,964 | |
Cash flows from financing activities | |||
Net increase (decrease) in short-term loans and commercial papers | 277,000 | 40,000 | ¥ (2) |
Proceeds from issuance of bonds | 75,000 | ||
Proceeds from long-term loans | 100,000 | ||
Repayments of long-term loans | (100,351) | (75,181) | |
Repayments of bonds | (220,550) | (281,489) | |
Proceeds from the settlement of cross currency interest rate swaps related to bonds | 60,063 | 0 | 0 |
Repayments of lease liabilities | (54,586) | (43,401) | |
Interest paid | (20,826) | (16,580) | |
Non-cash items | |||
Foreign exchange movement | 455,336 | 301,723 | |
Change in fair value | (114,386) | (32,358) | |
New, amended and terminated leases | 136,705 | 25,341 | |
Others | 28,970 | 25,632 | |
Ending balance | 5,368,024 | 4,820,649 | 4,801,964 |
Bonds | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 3,658,314 | 3,637,355 | |
Cash flows from financing activities | |||
Net increase (decrease) in short-term loans and commercial papers | 277,000 | 40,000 | |
Repayments of bonds | (220,550) | (281,489) | |
Non-cash items | |||
Foreign exchange movement | 369,442 | 253,390 | |
Others | 8,673 | 9,058 | |
Ending balance | 4,092,879 | 3,658,314 | 3,637,355 |
Long-term loans | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 723,772 | 707,770 | |
Cash flows from financing activities | |||
Proceeds from issuance of bonds | 75,000 | ||
Proceeds from long-term loans | 100,000 | ||
Repayments of long-term loans | (100,351) | (75,181) | |
Non-cash items | |||
Foreign exchange movement | 27,686 | 16,135 | |
Others | (485) | 48 | |
Ending balance | 723,772 | 707,770 | |
Short-term loans | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 256 | 285 | |
Cash flows from financing activities | |||
Net increase (decrease) in short-term loans and commercial papers | 0 | ||
Non-cash items | |||
Foreign exchange movement | 39 | 25 | |
Others | (44) | (54) | |
Ending balance | 256 | 285 | |
Lease liabilities | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 479,351 | 465,238 | |
Cash flows from financing activities | |||
Repayments of lease liabilities | (54,586) | (43,401) | |
Interest paid | (20,826) | (16,580) | |
Non-cash items | |||
Foreign exchange movement | 58,169 | 32,173 | |
New, amended and terminated leases | 136,705 | 25,341 | |
Others | 20,826 | 16,580 | |
Ending balance | 619,639 | 479,351 | 465,238 |
Derivative assets used for hedge of debts | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | (55,223) | (22,749) | |
Cash flows from financing activities | |||
Proceeds from the settlement of cross currency interest rate swaps related to bonds | 60,063 | ||
Non-cash items | |||
Change in fair value | (100,207) | (32,474) | |
Ending balance | (95,368) | (55,223) | (22,749) |
Derivative liabilities used for hedge of debts | |||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | |||
Beginning balance | 14,179 | 14,063 | |
Cash flows from financing activities | |||
Repayments of bonds | 0 | ||
Non-cash items | |||
Change in fair value | (14,179) | 116 | |
Ending balance | ¥ 0 | ¥ 14,179 | ¥ 14,063 |
Share-based Payments - Narrativ
Share-based Payments - Narrative (Details) ¥ / shares in Units, ¥ in Millions | 12 Months Ended | ||||
Jan. 08, 2019 | Mar. 31, 2024 JPY (¥) shares ¥ / shares | Mar. 31, 2023 JPY (¥) shares ¥ / shares | Mar. 31, 2022 JPY (¥) ¥ / shares | Mar. 31, 2021 ¥ / shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share-based compensation cost (reversal of cost) | ¥ 71,510 | ¥ 61,024 | ¥ 43,730 | ||
Stock options granted (in shares) | shares | 0 | 0 | |||
Weighted-average share price for share options exercised (in JPY per share) | ¥ / shares | ¥ 4,540 | ¥ 3,852 | ¥ 3,815 | ||
Weighted-average exercise price of share options outstanding (in JPY per share) | ¥ / shares | ¥ 4,136 | ¥ 4,111 | ¥ 4,094 | ¥ 4,082 | |
Weighted-average remaining contractual life of share options outstanding | 8 years | 9 years | 10 years | ||
American depositary shares | Shire | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Ratio of award or share per common stock | 0.5 | ||||
Liability-settled long-term incentive plan (LTIP) | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Ratio of award or share per common stock | 1 | ||||
BIP, ESOP and Equity-Settled LTIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share-based compensation cost (reversal of cost) | ¥ 70,871 | ¥ 60,672 | ¥ 43,374 | ||
BIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Weighted average remaining contractual life | 1 year | 1 year | |||
ESOP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Weighted average remaining contractual life | 1 year | 1 year | |||
Equity-Settled LTIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Weighted average remaining contractual life | 1 year | 1 year | |||
Stock options | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Stock options | Directors | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Expiration term | 10 years | ||||
Stock options | Corporate officers and senior management | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Expiration term | 20 years | ||||
Expense from share-based payment transactions with employees | ¥ 0 | ¥ 0 | ¥ 0 | ||
Restricted stock units (RSUs) | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Unvested shares (in shares) | shares | 0 | ||||
Award vesting percentage | 33.33% | 33.33% | 33.33% | ||
Restricted stock units (RSUs) | BIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Restricted stock units (RSUs) | Equity-Settled LTIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Performance stock units (PSUs) | BIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Performance stock units (PSUs) | ESOP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Performance stock units (PSUs) | Equity-Settled LTIP | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Phantom stock appreciation rights and restricted stock units | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Share-based compensation cost (reversal of cost) | ¥ 639 | ¥ 352 | ¥ 356 | ||
Liabilities from share-based payment transactions | ¥ 1,018 | ¥ 1,026 | ¥ 1,583 | ||
Phantom stock appreciation rights (PSARs) | |||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||||
Vesting period | 3 years | ||||
Expiration term | 10 years | ||||
Award vesting percentage | 33.33% | 33.33% | 33.33% |
Share-based Payments - Schedule
Share-based Payments - Schedule of Stock Option Activities (Details) | 12 Months Ended | ||
Mar. 31, 2024 shares ¥ / shares | Mar. 31, 2023 shares ¥ / shares | Mar. 31, 2022 shares ¥ / shares | |
Number of options (shares) | |||
As of beginning of the year (in shares) | shares | 3,303,600 | 3,347,100 | 3,357,200 |
Exercised (in shares) | shares | (122,700) | (43,500) | (10,100) |
As of end of the year (in shares) | shares | 3,180,900 | 3,303,600 | 3,347,100 |
Weighted average exercise price (JPY) | |||
As of beginning of the year (in JPY per share) | ¥ / shares | ¥ 4,111 | ¥ 4,094 | ¥ 4,082 |
Exercised (in JPY per share) | ¥ / shares | 3,464 | 2,802 | 1 |
As of end of the year (in JPY per share) | ¥ / shares | ¥ 4,136 | ¥ 4,111 | ¥ 4,094 |
Share-based Payments - Summary
Share-based Payments - Summary of Weighted Average Fair Value of Awards at Grant Date (Details) | Mar. 31, 2024 JPY (¥) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) | Mar. 31, 2022 JPY (¥) | Mar. 31, 2022 USD ($) |
BIP | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average fair value at grant date | ¥ 4,527 | ¥ 3,759 | ¥ 3,738 | |||
ESOP | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average fair value at grant date | 4,527 | 3,759 | 3,738 | |||
Equity-Settled LTIP | ||||||
Disclosure of terms and conditions of share-based payment arrangement [line items] | ||||||
Weighted average fair value at grant date | ¥ 2,273 | $ 15.71 | ¥ 1,909 | $ 14.09 | ¥ 1,877 | $ 16.90 |
Share-based Payments - Schedu_2
Share-based Payments - Schedule of Award Activity Related to Stock Incentive Plans (Details) - shares | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
BIP | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
As of beginning of the year (in shares) | 1,311,989 | 1,216,361 | 1,035,843 |
Granted (in shares) | 338,189 | 544,491 | 536,121 |
Forfeited/expired before vesting (in shares) | 0 | (13,554) | 0 |
Vested (in shares) | (450,206) | (435,309) | (355,603) |
Transfer to liability-settled LTIP (in shares) | 0 | 0 | 0 |
Transfer to liability-settled RSU (in shares) | 0 | 0 | 0 |
As of end of the year (in shares) | 1,199,972 | 1,311,989 | 1,216,361 |
ESOP | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
As of beginning of the year (in shares) | 773,844 | 3,372,452 | 7,751,952 |
Granted (in shares) | 363,559 | 450,340 | 534,437 |
Forfeited/expired before vesting (in shares) | (39,545) | (96,015) | (552,490) |
Vested (in shares) | (351,096) | (2,949,200) | (4,361,447) |
Transfer to liability-settled LTIP (in shares) | 0 | 0 | 0 |
Transfer to liability-settled RSU (in shares) | 0 | (3,733) | 0 |
As of end of the year (in shares) | 746,762 | 773,844 | 3,372,452 |
Equity-Settled LTIP | |||
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items] | |||
As of beginning of the year (in shares) | 59,752,598 | 40,861,734 | 23,412,994 |
Granted (in shares) | 36,531,621 | 38,897,622 | 29,211,506 |
Forfeited/expired before vesting (in shares) | (4,747,804) | (4,682,948) | (4,270,590) |
Vested (in shares) | (25,916,216) | (15,237,880) | (7,466,212) |
Transfer to liability-settled LTIP (in shares) | (209,715) | (85,930) | (25,964) |
Transfer to liability-settled RSU (in shares) | 0 | 0 | 0 |
As of end of the year (in shares) | 65,410,484 | 59,752,598 | 40,861,734 |
Share-based Payments - Schedu_3
Share-based Payments - Schedule of Award Activity Related to Other Awards (Details) - ¥ / shares | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Phantom stock appreciation rights (PSARs) | |||
Number of shares | |||
As of beginning of the year (in shares) | 217,530 | 1,471,095 | 2,270,439 |
Forfeited/expired after vesting (in shares) | (217,530) | (1,253,565) | (799,344) |
As of end of the year (in shares) | 0 | 217,530 | 1,471,095 |
Weighted average exercise price (JPY) | |||
As of beginning of the year (in JPY per share) | ¥ 5,956 | ¥ 5,481 | ¥ 4,997 |
Forfeited/expired after vesting (in JPY per share) | 6,428 | 6,054 | 5,134 |
As of end of the year (in JPY per share) | ¥ 0 | ¥ 5,956 | ¥ 5,481 |
Restricted stock units (RSUs) | |||
Number of shares | |||
As of beginning of the year (in shares) | 0 | 317,734 | 778,451 |
Forfeited before vesting (in shares) | 0 | (8,208) | (62,649) |
Vested (in shares) | 0 | (313,259) | (398,068) |
Transfer from Equity-Settled ESOP (in shares) | 0 | 3,733 | 0 |
As of end of the year (in shares) | 0 | 0 | 317,734 |
Liability-settled long-term incentive plan (LTIP) | |||
Number of shares | |||
As of beginning of the year (in shares) | 367,642 | 296,640 | 262,994 |
Granted (in shares) | 197,798 | 213,224 | 153,604 |
Forfeited before vesting (in shares) | (38,245) | (30,372) | (25,682) |
Vested (in shares) | (341,148) | (197,780) | (120,240) |
Transfer from Equity-Settled LTIP (in shares) | 209,715 | 85,930 | 25,964 |
As of end of the year (in shares) | 395,762 | 367,642 | 296,640 |
Subsidiaries and Associates - N
Subsidiaries and Associates - Narrative (Details) | 12 Months Ended |
Mar. 31, 2024 subsidiary entity associate | |
Interests In Other Entities [Abstract] | |
Decrease in number of consolidated entities due to mergers and liquidations | 11 |
Decrease in number of entities accounted for using the equity method due to a change of ownership ratio | 1 |
Number of Company’s consolidated subsidiaries | subsidiary | 169 |
Number of associates | associate | 16 |
Subsidiaries and Associates - S
Subsidiaries and Associates - Summary of Consolidated Subsidiaries (Details) | 12 Months Ended |
Mar. 31, 2024 subsidiary | |
Disclosure of subsidiaries [line items] | |
Number of immaterial subsidiaries | 128 |
Takeda Argentina S.A. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Austria GmbH | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Manufacturing Austria AG | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Baxalta Innovations GmbH | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Distribuidora Ltda. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharma Ltda. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Canada Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda APAC Biopharmaceutical Research and Development Co,. Ltd. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda (China) Holdings Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda (China) International Trading Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Tianjin Takeda Pharmaceuticals Co., Ltd | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda France S.A.S. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda GmbH | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Ireland Limited | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Shire Pharmaceuticals International Unlimited Company | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Shire Acquisitions Investments Ireland Designated Activity Company | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Shire Ireland Finance Trading Limited | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Italia S.p.A. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharmaceuticals Korea Co., Ltd. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Mexico S.A.de C.V. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Nederland B.V. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharmaceuticals Limited Liability Company | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Development Center Asia, Pte. Ltd. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Manufacturing Singapore Pte. Ltd. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Farmaceutica Espana S.A. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharma AB | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharmaceuticals International AG | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Baxalta Manufacturing S.à r.l. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharma AG | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda UK Limited | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Pharmaceuticals U.S.A., Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
ARIAD Pharmaceuticals, Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Vaccines, Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Development Center Americas, Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Baxalta Incorporated | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Dyax Corp. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Ventures, Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Baxalta US Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Shire Human Genetic Therapies, Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
BioLife Plasma Services LP | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Takeda Manufacturing U.S.A., Inc. | |
Disclosure of subsidiaries [line items] | |
Ownership of Voting Rights (%) | 100% |
Related Party Transactions (Det
Related Party Transactions (Details) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | |
Related party transactions [abstract] | |||
Basic compensation and bonuses | ¥ 1,839 | ¥ 1,640 | ¥ 1,614 |
Share-based compensation (expensed amount) | 2,749 | 2,403 | 2,547 |
Other | 85 | 43 | 38 |
Total | ¥ 4,673 | ¥ 4,085 | ¥ 4,199 |
Commitments and Contingent Li_2
Commitments and Contingent Liabilities (Details) ¥ in Millions | 1 Months Ended | 12 Months Ended | |||
Jan. 28, 2021 filer | Mar. 31, 2024 JPY (¥) lawsuit | Mar. 31, 2024 JPY (¥) lawsuit | Mar. 31, 2023 JPY (¥) filer | Dec. 31, 2013 lawsuit | |
Disclosure of contingent liabilities [line items] | |||||
Contractual commitments for acquisition of property, plant and equipment | ¥ 31,083 | ¥ 31,083 | |||
Contractual commitments for acquisition of intangible assets | 1,331,364 | 1,331,364 | |||
Aggregate provisions for legal and other disputes | ¥ 22,342 | 22,342 | ¥ 64,290 | ||
Provision used, other provisions | ¥ 1,109,294 | ¥ 985,905 | |||
ACTOS | U.S. | |||||
Disclosure of contingent liabilities [line items] | |||||
Number of lawsuits | lawsuit | 6,100 | 6,100 | |||
ACTOS | Outside the U.S. | |||||
Disclosure of contingent liabilities [line items] | |||||
Number of lawsuits | lawsuit | 1 | 1 | |||
TRINTELLIX | |||||
Disclosure of contingent liabilities [line items] | |||||
Notices received, number of filers | filer | 16 | ||||
Lawsuits resolved before trial, number of filers | filer | 10 | ||||
Trial, number of filers | filer | 6 | ||||
ACTOS Antitrust Litigation | |||||
Disclosure of contingent liabilities [line items] | |||||
Number of lawsuits | lawsuit | 2 | ||||
AbbVie Supply Agreement Litigation | |||||
Disclosure of contingent liabilities [line items] | |||||
Provision used, other provisions | ¥ 505 | ||||
AbbVie Supply Agreement Litigation | Other Operating Expenses | |||||
Disclosure of contingent liabilities [line items] | |||||
Gains (losses) on litigation settlements | ¥ (26,405) | ||||
AbbVie Supply Agreement Litigation | Finance Expenses | |||||
Disclosure of contingent liabilities [line items] | |||||
Gains (losses) on litigation settlements | ¥ (7,141) |
Subsequent Events (Details)
Subsequent Events (Details) ¥ in Millions, $ in Millions | Jun. 25, 2024 JPY (¥) | Mar. 31, 2024 JPY (¥) | Mar. 31, 2024 USD ($) | Mar. 31, 2023 JPY (¥) | Mar. 31, 2023 USD ($) |
Disclosure of non-adjusting events after reporting period [line items] | |||||
Bonds | ¥ 4,092,879 | ¥ 3,658,314 | |||
Hybrid subordinated bonds | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Bonds | 499,614 | ¥ 498,876 | |||
Notional | ¥ 500,000 | $ 500,000 | $ 500,000 | ||
Long-term loans | Hybrid subordinated bonds | |||||
Disclosure of non-adjusting events after reporting period [line items] | |||||
Bonds | ¥ 460,000 |