010,9407,4317,3186,5335,9976,9373,5312,6846,9375,123Maruho Report 2023541.Maruho’s Meaning of ExistenceOpportunities to invest in startup companies are on the rise, and we are gradually seeing results in the form of strengthening the early development pipeline, reducing development costs and speeding up the process, and increasing the level of experience in R&D.We make investment decisions based on an awareness of whether the investment can generate stable cash and enable us to clear the management indicator of securing core operating profit of 35% or more. On the other hand, since it is the responsibility of pharmaceutical companies to build a system that can provide a high-quality and stable supply under any circumstances, we will continue to invest in IoT and new technologies.2.Value Creation Prospects3.Strategy for Value Creation4.Foundation for Sustainable GrowthTotal capital expenditures for the fiscal year ended September 30, 2023 amounted to 6,706 million yen. In the pharmaceutical business, capital expenditures totaled 6,183 million yen.The main investments were the acquisition of manufacturing facilities and renovation of existing buildings at the Hikone Plant, the acquisition of laboratory equipment at the Kyoto R&D Center, the renovation of existing buildings, the introduction and modification of software for the purpose of improving internal work efficiency, and the construction of a new building for Tateyama Pharmaceutical Factory Co., Ltd.In other businesses, capital expenditures totaled 523 million yen. The main investments were the acquisition of manufacturing facilities such as at Maruho Hatsujyo Kogyo Co., Ltd.2018Capital expenditure / Depreciation5.Financial/ Company Information201920202021Investment decisionsOur approach to investments is to make well-balanced investments for sustainable growth and aspire to maximize net sales. For this reason, we regularly monitor our financial position and promote operational efficiency and the reduction of unnecessary operations, with the aim of acquiring funds that will lead to new investments in the future.Capital expenditureThe Group is continuously carrying out capital investments, focusing on the expansion of pharmaceutical manufacturing facilities and the enhancement and strengthening of R&D functions.Capital expenditure (Millions of yen)12,0008,0004,000Depreciation (Millions of yen)6,7065,06820222023Investments
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