Komori
Financial results presentation4523Eisai Co.,Ltd.Pharmaceuticals

Reference Materials for First-Quarter Financial Results for Fiscal 2026 (Fiscal Year Ending March 2027)

In the first quarter of FY2026, revenue increased 15.6% year on year, driven by growth in LENVIMA, Leqembi and DAYVIGO and the impact of the weaker yen. Operating profit rose 19.2%, and profit attributable to owners of the parent increased 26.0%. The full-year forecast calls for revenue of ¥883.5 billion and operating profit of ¥70.0 billion, among other targets, with operating profit reaching 35.3% of the full-year forecast.

Worth reading
75Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
317
¥100 million (year-on-year increase in revenue)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFY2026 First Quarter7 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,343 100 million+15.6%
Operating profit¥247 100 million+19.2%
Ordinary income¥253 100 million +12.8%pre-tax quarterly profit, IFRS
Net income¥182 100 million +26.0%attributable to owners of the parent
Selling, general and administrative expenses¥1,148 100 million
Gross Profit Margin
Rate78.2%
Year-on-year change (points)Down 0.8 percentage points from 79.0% in the same period of the previous year
Operating profit margin
Rate10.6%
Year-on-year change (points)Up 0.4 percentage points from 10.2% in the same period of the previous year
Results for the three months of the current quarterRevenue: ¥234.3 billion; operating profit: ¥24.7 billion; profit before tax: ¥25.3 billion; quarterly profit: ¥19.2 billion; profit attributable to owners of the parent: ¥18.2 billion. Cash flows from operating activities: negative ¥2.6 billion; cash flows from investing activities: ¥6.5 billion; cash flows from financing activities: ¥57.9 billion.
Full-year earnings forecast
Revenue
¥8,835 100 million
Operating profit
¥700 100 million
Income before taxes
¥740 100 million
Quarterly profit
¥540 100 million
Profit attributable to owners of the parent
¥523 100 million
Research and development costs
¥1,640 100 million
Capital expenditures (cash basis)
¥300 100 million
EPS
¥185
DPS
¥160
ROE
5.9 %
Adjusted ROIC
8.7 %
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Revenue26.5%
Operating profit35.3%
Income before taxes34.2%
Quarterly profit35.5%
Profit attributable to owners of the parent34.9%
Research and development costs26.7%
Gross profit27.2%
Selling, general and administrative expenses26.0%
Pharmaceutical business revenue26.5%
Other businesses revenue25.4%
Japan pharmaceutical business revenue24.8%
Americas pharmaceutical business revenue25.7%
China pharmaceutical business revenue28.9%
EMEA pharmaceutical business revenue32.4%
EAGS pharmaceutical business revenue25.4%
Total core products (3L)25.9%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Impact of foreign exchange movements on revenue+¥18.92 billion
  • Impact of foreign exchange movements on operating profit+¥1.38 billion
  • Expense recognition for the profit-sharing arrangement for LENVIMA
    Current fiscal year¥44.3 billion
    Prior-year period¥36 billion
  • Amount borne by alliance partners
    Current fiscal year¥6 billion
    Prior-year period¥7.6 billion
  • Increase in cost of sales+¥8.5 billion
  • Increase in SG&A expenses+¥14.7 billion
  • Increase in R&D expenses+¥4.9 billion
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • 153
    AssumptionsForecast U.S. dollar/yen exchange rate
  • 180
    AssumptionsForecast euro/yen exchange rate
  • 205
    AssumptionsForecast pound/yen exchange rate
  • 22.5
    AssumptionsForecast renminbi/yen exchange rate
New initiatives
  • Proactive investment in Leqembi
  • Acquired exclusive development, regulatory and commercialization rights in multiple regions from Nuvation Bio for E7860 (taletrectinib)
  • Obtained U.S. approval for the 500 mg initial-treatment subcutaneous auto-injector formulation of Leqembi
  • Progress in the clinical development and regulatory submissions for key pipeline products
Key KPIsA metric the company considers important as a management benchmark.
  • Core products (3L) revenue¥1,455 100 million
    Year on year against the same period last year+20.5%
  • LENVIMA/Kisplyx revenue¥973 100 million
    Year on year against the same period last year+15.9%
  • Leqembi revenue¥293 100 million
    Year on year against the same period last year+26.7%
  • Dayvigo revenue¥189 100 million
    Year on year against the same period last year+37.9%
  • EPS¥64.71
    Year on year against the same period last year+26.0%
  • Equity ratio attributable to owners of the parent58.2 %
  • Net DER-0.05 times
Segment results
Japan pharmaceutical business
Revenue
¥579 100 million+3.4%
Segment profit
¥210 100 million+8.1%
Americas pharmaceutical business
Revenue
¥866 100 million+22.3%
Segment profit
¥519 100 million+25.0%
China pharmaceutical business
Revenue
¥425 100 million+16.6%
Segment profit
¥212 100 million+18.2%
EMEA pharmaceutical business
Revenue
¥236 100 million+24.4%
Segment profit
¥125 100 million+51.8%
EAGS pharmaceutical business
Revenue
¥202 100 million+25.3%
Segment profit
¥95 100 million+15.0%
Other Businesses
Revenue
¥34 100 million-18.4%
Segment profit
¥13 100 million-44.0%
Capital expenditures
¥52 100 million actual for the three months, capital expenditures on a cash basis
Annual Dividend
Annual dividend per share¥160
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFY2026 First Quarter
Net Sales¥2,343 100 million (YoY +15.6%)
Operating profit¥247 100 million (YoY +19.2%)
Ordinary income¥253 100 million (pre-tax quarterly profit, IFRS) (YoY +12.8%)
Net income¥182 100 million (attributable to owners of the parent) (YoY +26.0%)
Gross Profit MarginRate 78.2% / Year-on-year change (points) Down 0.8 percentage points from 79.0% in the same period of the previous year
Operating profit marginRate 10.6% / Year-on-year change (points) Up 0.4 percentage points from 10.2% in the same period of the previous year
Selling, general and administrative expenses¥1,148 100 million
Results for the three months of the current quarterRevenue: ¥234.3 billion; operating profit: ¥24.7 billion; profit before tax: ¥25.3 billion; quarterly profit: ¥19.2 billion; profit attributable to owners of the parent: ¥18.2 billion. Cash flows from operating activities: negative ¥2.6 billion; cash flows from investing activities: ¥6.5 billion; cash flows from financing activities: ¥57.9 billion.
Full-year earnings forecastRevenue ¥8,835 100 million / Operating profit ¥700 100 million / Income before taxes ¥740 100 million / Quarterly profit ¥540 100 million / Profit attributable to owners of the parent ¥523 100 million / Research and development costs ¥1,640 100 million / Capital expenditures (cash basis) ¥300 100 million / EPS ¥185 / DPS ¥160 / ROE 5.9 % / Adjusted ROIC 8.7 %
Progress against full-year forecastRevenue 26.5% / Operating profit 35.3% / Income before taxes 34.2% / Quarterly profit 35.5% / Profit attributable to owners of the parent 34.9% / Research and development costs 26.7% / Gross profit 27.2% / Selling, general and administrative expenses 26.0% / Pharmaceutical business revenue 26.5% / Other businesses revenue 25.4% / Japan pharmaceutical business revenue 24.8% / Americas pharmaceutical business revenue 25.7% / China pharmaceutical business revenue 28.9% / EMEA pharmaceutical business revenue 32.4% / EAGS pharmaceutical business revenue 25.4% / Total core products (3L) 25.9%
Segment resultsJapan pharmaceutical business Revenue ¥579 100 million (YoY +3.4%) / Segment profit ¥210 100 million (YoY +8.1%) / Americas pharmaceutical business Revenue ¥866 100 million (YoY +22.3%) / Segment profit ¥519 100 million (YoY +25.0%) / China pharmaceutical business Revenue ¥425 100 million (YoY +16.6%) / Segment profit ¥212 100 million (YoY +18.2%) / EMEA pharmaceutical business Revenue ¥236 100 million (YoY +24.4%) / Segment profit ¥125 100 million (YoY +51.8%) / EAGS pharmaceutical business Revenue ¥202 100 million (YoY +25.3%) / Segment profit ¥95 100 million (YoY +15.0%) / Other Businesses Revenue ¥34 100 million (YoY -18.4%) / Segment profit ¥13 100 million (YoY -44.0%)
Breakdown of Factors Affecting the ChangeFactors Impact of foreign exchange movements on revenue / Amount +¥18.92 billion, Factors Impact of foreign exchange movements on operating profit / Amount +¥1.38 billion, Factors Expense recognition for the profit-sharing arrangement for LENVIMA / Current fiscal year ¥44.3 billion / Prior-year period ¥36 billion, Factors Amount borne by alliance partners / Current fiscal year ¥6 billion / Prior-year period ¥7.6 billion, Factors Increase in cost of sales / Amount +¥8.5 billion, Factors Increase in SG&A expenses / Amount +¥14.7 billion, Factors Increase in R&D expenses / Amount +¥4.9 billion
Key KPIsIndicator name Core products (3L) revenue / Value ¥1,455 100 million / Year on year against the same period last year ¥20.5 100 million, Indicator name LENVIMA/Kisplyx revenue / Value ¥973 100 million / Year on year against the same period last year ¥15.9 100 million, Indicator name Leqembi revenue / Value ¥293 100 million / Year on year against the same period last year ¥26.7 100 million, Indicator name Dayvigo revenue / Value ¥189 100 million / Year on year against the same period last year ¥37.9 100 million, Indicator name EPS / Value ¥64.71 / Year on year against the same period last year ¥26, Indicator name Equity ratio attributable to owners of the parent / Value 58.2 % / Prior-year period Not disclosed, Indicator name Net DER / Value -0.05 times / Prior-year period Not disclosed
Assumptions Underlying the Business OutlookAssumptions Forecast U.S. dollar/yen exchange rate / Value 153, Assumptions Forecast euro/yen exchange rate / Value 180, Assumptions Forecast pound/yen exchange rate / Value 205, Assumptions Forecast renminbi/yen exchange rate / Value 22.5
Annual DividendAnnual dividend per share ¥160 / Interim and Year-End Breakdown Not disclosed
Capital expenditures¥52 100 million (actual for the three months, capital expenditures on a cash basis)
New initiativesProactive investment in Leqembi, Acquired exclusive development, regulatory and commercialization rights in multiple regions from Nuvation Bio for E7860 (taletrectinib), Obtained U.S. approval for the 500 mg initial-treatment subcutaneous auto-injector formulation of Leqembi, Progress in the clinical development and regulatory submissions for key pipeline products
Items this document does not state (12)
Self-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioAcquisition of treasury sharesOrders received and order backlogMarket Size / ShareKey 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.

LENVIMA, Leqembi and DAYVIGO continued to grow, while the weakening yen also boosted revenue. Selling, general and administrative expenses and research and development expenses increased due to proactive investment in Leqembi, but the increase in revenue led to higher operating profit and profit.

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Reference Materials for First-Quarter Financial Results for Fiscal 2026 (Fiscal Year Ending March 2027) | Eisai Co.,Ltd. (4523) timely disclosure | Komori