Worth reading
66In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
63.7
% (year-on-year increase in revenue)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Earnings presentationFY2026 First Quarter7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,633 hundred million+63.7%
Operating profit¥669 hundred million+90.6%
Ordinary income¥737 hundred million+59.2%
Net income¥977 100 million +148.2%profit for the quarter attributable to owners of the parent
Selling, general and administrative expenses¥610 hundred million
Gross Profit Margin
Rate81.1% (gross profit of ¥132.5 billion / revenue of ¥163.3 billion)
Year-on-year change (points)The presentation lists a gross profit margin of 56.8%, compared with 51.3% for the prior-year period.
Operating profit margin
Rate41.0%
Year-on-year change (points)Increased from 35.2% in the prior-year period.
Results for the three months of the current quarterFor April-June alone, revenue was ¥163.3 billion, operating profit was ¥66.9 billion, quarterly profit before income taxes was ¥73.7 billion, and quarterly profit attributable to owners of the parent was ¥97.7 billion.
Full-year earnings forecast
Revenue
¥7,000 hundred million
Operating profit
¥2,200 hundred million
Profit before quarterly income taxes
¥2,200 hundred million
Quarterly profit attributable to owners of the parent
¥2,100 hundred million
EBITDA
¥3,150 hundred million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The Company expects to achieve its first-half forecasts.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue increased by ¥63.5 billion. The main contributors to the increase were domestic prescription pharmaceuticals, up ¥19.4 billion; overseas subsidiaries/exports, up ¥28.0 billion; and royalty income, up ¥16.2 billion. Operating profit increased by ¥31.8 billion. Cost of sales increased by ¥18.5 billion, selling, general and administrative expenses and R&D expenses increased by ¥41.6 billion, and other income and expenses increased by ¥28.3 billion. Quarterly profit attributable to owners of the parent increased by ¥58.3 billion.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Assumed average exchange rates for FY2026: ¥153.0 to the dollar, ¥205.0 to the pound and ¥184.0 to the euro.New initiatives
Launch of the RADICAVA business in the United States; the U.S. launch of XOCOVA and initiatives to promote awareness and consultations; establishment of a nationwide sales force of approximately 160 people; advancement of next-generation HIV LAI formulations, including once-every-three-month CAB+RPV LAI and preventive therapeutics, as well as once-every-six-month VH184+VH499; and planned regulatory filings for olorofim in Europe and Asia.Key KPIsA metric the company considers important as a management benchmark.
Share of the COVID-19 therapeutics market: 67.5%; ViiV's LAI therapeutics revenue: £453 million (up 33% year on year); preventive therapeutics revenue: £140 million (up 39%); share of sales from HIV medicines containing integrase inhibitors: 76%; average number of RADICAVA patients treated: approximately 4,500; U.S. XOCOVA sales force: approximately 160 people; interest in prescribing XOCOVA among people at high risk of severe disease: approximately 69%; interest among household members: approximately 81%; physicians' intention to prescribe: 92% and 88%.Segment results
Domestic prescription pharmaceuticals: ¥33.5 billion (up 137.3% year on year); overseas subsidiaries/exports: ¥42.2 billion (up 196.6%); contract manufacturing: ¥4.0 billion (down 11.0%); over-the-counter pharmaceuticals: ¥2.9 billion (up 19.6%); royalty income: ¥80.1 billion (up 25.3%); other: ¥0.6 billion (down 4.4%). The overseas subsidiaries/exports breakdown was Shionogi Inc.: ¥32.0 billion (up 417.1%); Shionogi B.V.: ¥6.6 billion (up 40.4%); and Shionogi Limited: ¥1.5 billion (down 2.6%).Market Size / Share
Share of the COVID-19 therapeutics market: 67.5%. Share of sales from HIV medicines containing integrase inhibitors: 76%. The global HIV treatment market is estimated at approximately £22 billion in 2025, approximately £22 billion in 2031 and approximately £25 billion in 2035. The U.S. prevention market is estimated at approximately £3 billion in 2025, approximately £6 billion in 2031 and approximately £6 billion in 2035.| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | FY2026 First Quarter |
| Net Sales | ¥1,633 hundred million (YoY +63.7%) |
| Operating profit | ¥669 hundred million (YoY +90.6%) |
| Ordinary income | ¥737 hundred million (YoY +59.2%) |
| Net income | ¥977 100 million (profit for the quarter attributable to owners of the parent) (YoY +148.2%) |
| Gross Profit Margin | Rate 81.1% (gross profit of ¥132.5 billion / revenue of ¥163.3 billion) / Year-on-year change (points) The presentation lists a gross profit margin of 56.8%, compared with 51.3% for the prior-year period. |
| Operating profit margin | Rate 41.0% / Year-on-year change (points) Increased from 35.2% in the prior-year period. |
| Selling, general and administrative expenses | ¥610 hundred million |
| Results for the three months of the current quarter | For April-June alone, revenue was ¥163.3 billion, operating profit was ¥66.9 billion, quarterly profit before income taxes was ¥73.7 billion, and quarterly profit attributable to owners of the parent was ¥97.7 billion. |
| Full-year earnings forecast | Revenue ¥7,000 hundred million / Operating profit ¥2,200 hundred million / Profit before quarterly income taxes ¥2,200 hundred million / Quarterly profit attributable to owners of the parent ¥2,100 hundred million / EBITDA ¥3,150 hundred million |
| Self-assessment against the plan | The Company expects to achieve its first-half forecasts. |
| Segment results | Domestic prescription pharmaceuticals: ¥33.5 billion (up 137.3% year on year); overseas subsidiaries/exports: ¥42.2 billion (up 196.6%); contract manufacturing: ¥4.0 billion (down 11.0%); over-the-counter pharmaceuticals: ¥2.9 billion (up 19.6%); royalty income: ¥80.1 billion (up 25.3%); other: ¥0.6 billion (down 4.4%). The overseas subsidiaries/exports breakdown was Shionogi Inc.: ¥32.0 billion (up 417.1%); Shionogi B.V.: ¥6.6 billion (up 40.4%); and Shionogi Limited: ¥1.5 billion (down 2.6%). |
| Breakdown of Factors Affecting the Change | Revenue increased by ¥63.5 billion. The main contributors to the increase were domestic prescription pharmaceuticals, up ¥19.4 billion; overseas subsidiaries/exports, up ¥28.0 billion; and royalty income, up ¥16.2 billion. Operating profit increased by ¥31.8 billion. Cost of sales increased by ¥18.5 billion, selling, general and administrative expenses and R&D expenses increased by ¥41.6 billion, and other income and expenses increased by ¥28.3 billion. Quarterly profit attributable to owners of the parent increased by ¥58.3 billion. |
| Key KPIs | Share of the COVID-19 therapeutics market: 67.5%; ViiV's LAI therapeutics revenue: £453 million (up 33% year on year); preventive therapeutics revenue: £140 million (up 39%); share of sales from HIV medicines containing integrase inhibitors: 76%; average number of RADICAVA patients treated: approximately 4,500; U.S. XOCOVA sales force: approximately 160 people; interest in prescribing XOCOVA among people at high risk of severe disease: approximately 69%; interest among household members: approximately 81%; physicians' intention to prescribe: 92% and 88%. |
| Assumptions Underlying the Business Outlook | Assumed average exchange rates for FY2026: ¥153.0 to the dollar, ¥205.0 to the pound and ¥184.0 to the euro. |
| Market Size / Share | Share of the COVID-19 therapeutics market: 67.5%. Share of sales from HIV medicines containing integrase inhibitors: 76%. The global HIV treatment market is estimated at approximately £22 billion in 2025, approximately £22 billion in 2031 and approximately £25 billion in 2035. The U.S. prevention market is estimated at approximately £3 billion in 2025, approximately £6 billion in 2031 and approximately £6 billion in 2035. |
| New initiatives | Launch of the RADICAVA business in the United States; the U.S. launch of XOCOVA and initiatives to promote awareness and consultations; establishment of a nationwide sales force of approximately 160 people; advancement of next-generation HIV LAI formulations, including once-every-three-month CAB+RPV LAI and preventive therapeutics, as well as once-every-six-month VH184+VH499; and planned regulatory filings for olorofim in Europe and Asia. |
Items this document does not state (13)
Progress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The main factors were growth in existing businesses, integration synergies from investments in businesses such as Torii Pharmaceutical and RADICAVA, the launch of the RADICAVA business in the United States, growth in cefiderocol sales in Europe and the United States, and higher royalty income driven by increased sales at ViiV. On the profit side, the increase in equity-method investment income related to ViiV and lower tax expenses due to the recognition of deferred tax assets also contributed.
How to read this page
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