■ Business overview of Phoenixbio <6190>
3. Revenue by Field and Service Line
Revenue by Field for the fiscal year ending March 2024 was 1,590 million yen for the pharmacological field and 15,560 million yen for the safety field. Revenue by Service Line was 1,320 million yen for product sales and 396 million yen for contracted testing services. The number of customers in the safety field decreased by 3 companies to 38 companies overseas, and by 7 companies to 59 companies domestically compared to the previous fiscal year. Please note that the main sales destination for the fiscal year ending March 2024 was Alnylam Pharmaceuticals, Inc. (664 million yen in revenue, accounting for 38.8% of total revenue), but the main sales destination may vary significantly depending on the period.
Revenue from the pharmacological field and contracted testing services increased significantly in the fiscal year ending March 2023 due to large-scale projects related to hepatitis C testing (pharmacological evaluation). However, in the fiscal year ending March 2024, there was a significant decrease as the development of anti-hepatitis B virus drugs was discontinued, mainly by overseas pharmaceutical companies. On the other hand, the company is strategically shifting from contracted services to product sales to increase the development of next-generation pharmaceuticals (nucleic acid drugs, gene therapy, etc.), and product sales are increasing.
The order backlog for the fiscal year ending March 2024 was 1,860 million yen, an increase of 40.6% compared to the previous year (1,581 million yen, an increase of 43.8% for overseas orders and 278 million yen, an increase of 24.5% for domestic orders). The end-of-period order backlog increased by 57.1% compared to the previous year-end to 714 million yen. Overall, the company is on a recovery trend with the fiscal year ending March 2023 as the bottom. Overseas sales of PBX mice in the safety field have increased, and the domestic market has shown signs of recovery from the previous year's downturn.
(Authored by FISCO guest analyst Masanobu Mizuta)