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Financial results presentationSecond quarter (interim period) of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥45,503 million-0.7%
Operating profit¥1,694 million
Ordinary income¥2,923 million
Net income¥5,191 million-33.3%
Operating profit margin3.7 %
Selling, general and administrative expenses¥20,015 million
Full-year earnings forecast
Net Sales
¥89,000 million
Pharmaceutical Business
¥73,500 million
Operating profit
¥2,500 million
Ordinary income
¥4,400 million
Net income for the current fiscal year
¥10,000 million
R&D expenses
¥14,300 million
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。
Five priority products
Beova99.6
Yselty129.5
Korsuva (difelikefalin)106.7
Tavalisse (fostamatinib)100.2
P-TOL (sucroferric oxyhydroxide)102.6
Tavneos (avacopan)First-half results: ¥3.1 billion; second-half plan: ¥600 million; full-year revenue forecast: ¥3.7 billion
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
Pharmaceutical Business-946
Domestic pharmaceuticals133
Overseas Licensing-1,010
Healthcare Foods-69
Other Businesses618
Interim net profit
Gross profit-978
R&D expenses9,017
Other SG&A expenses492
Non-Operating Income and Expenses13
Extraordinary Gains and Losses-11,287
Corporate Income Taxes147
New initiatives
- Measures to ensure appropriate use of Tavneos in line with the safety bulletin and withholding treatment initiation for new patients
- Domestic development of products in the thyroid disease area, including Veligrotug and Elegrobart
- Preparation for the domestic regulatory application for Cretostimogene
- Preparation for the Phase III trial of Matsupexole
- Expansion of the growth portfolio through new license-in opportunities
- Continuation of the capital allocation policy covering research and development, IT, capital investment and shareholder returns
Key KPIsA metric the company considers important as a management benchmark.
- Beova first-half results¥114.5 hundred million
- Iserty first-half results¥2.5 hundred million
- Korsuva first-half results¥50.1 hundred million
- Tavalisse first-half results¥23 hundred million
- Pirtobrutinib first-half results¥20.5 hundred million
- Iserty adoption rate, second-half target45 %
Segment results
Pharmaceutical Business
Net Sales
¥37,401 million-2.5%
Domestic pharmaceuticals
Net Sales
¥32,899 million+0.4%
Overseas Licensing
Net Sales
¥2,764 million-26.8%
Healthcare Foods
Net Sales
¥1,737 million-3.8%
Other Businesses
Net Sales
¥8,102 million+8.3%
Medium-term management plan targets
EPS
¥400
Target fiscal yearFiscal year ending March 2030
ROE
8 %
Target fiscal yearFiscal year ending March 2030
Strategic shareholdings-to-net-assets ratio
10 % or lower
Target fiscal yearEnd of March 2030
Financial targets
EPS
Target400
Actual results
¥331
ROE
Target8
Actual results
6.3 %
Market Size / Share
- No. 1 market shareDetailsBeova
- 35,000 peopleDetailsEstimated total TED patient population
- 9,000 peopleDetailsEstimated active TED patient population
- 26,000 peopleDetailsEstimated inactive TED patient population
- 24,000 People/yearDetailsNumber of new bladder cancer patients
Annual Dividend
¥170
Interim and Year-End BreakdownRegular dividend ¥130, commemorative dividend ¥40 (FY2026 forecast)
Payout ratio
40 % or higher
Total payout ratio
86 %
Fiscal year2026 forecast
Acquisition of treasury shares
Amount
¥60 hundred million
Number of Shares
130 10,000 shares
Gross profit
¥21,710 million-4.3%
Rate47.7
Year-on-year change (points)-1.8
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter (interim period) of the fiscal year ending March 2027 |
| Net Sales | ¥45,503 million (YoY -0.7%) |
| Operating profit | ¥1,694 million |
| Ordinary income | ¥2,923 million |
| Net income | ¥5,191 million (YoY -33.3%) |
| Gross profit | ¥21,710 million (YoY -4.3%) |
| Operating profit margin | 3.7 % |
| Selling, general and administrative expenses | ¥20,015 million |
| Full-year earnings forecast | Net Sales ¥89,000 million / Pharmaceutical Business ¥73,500 million / Operating profit ¥2,500 million / Ordinary income ¥4,400 million / Net income for the current fiscal year ¥10,000 million / R&D expenses ¥14,300 million |
| Progress against full-year forecast | Five priority products Beova 99.6 / Yselty 129.5 / Korsuva (difelikefalin) 106.7 / Tavalisse (fostamatinib) 100.2 / P-TOL (sucroferric oxyhydroxide) 102.6 / Tavneos (avacopan) First-half results: ¥3.1 billion; second-half plan: ¥600 million; full-year revenue forecast: ¥3.7 billion |
| Segment results | Pharmaceutical Business Net Sales ¥37,401 million (YoY -2.5%) / Domestic pharmaceuticals Net Sales ¥32,899 million (YoY +0.4%) / Overseas Licensing Net Sales ¥2,764 million (YoY -26.8%) / Healthcare Foods Net Sales ¥1,737 million (YoY -3.8%) / Other Businesses Net Sales ¥8,102 million (YoY +8.3%) |
| Breakdown of Factors Affecting the Change | Net Sales Pharmaceutical Business -946 / Domestic pharmaceuticals 133 / Overseas Licensing -1,010 / Healthcare Foods -69 / Other Businesses 618 / Interim net profit Gross profit -978 / R&D expenses 9,017 / Other SG&A expenses 492 / Non-Operating Income and Expenses 13 / Extraordinary Gains and Losses -11,287 / Corporate Income Taxes 147 |
| Key KPIs | Indicator name Beova first-half results / Value ¥114.5 hundred million / Year on year against the same period last year Not disclosed, Indicator name Iserty first-half results / Value ¥2.5 hundred million / Year on year against the same period last year Not disclosed, Indicator name Korsuva first-half results / Value ¥50.1 hundred million / Year on year against the same period last year Not disclosed, Indicator name Tavalisse first-half results / Value ¥23 hundred million / Year on year against the same period last year Not disclosed, Indicator name Pirtobrutinib first-half results / Value ¥20.5 hundred million / Year on year against the same period last year Not disclosed, Indicator name Iserty adoption rate, second-half target / Value 45 % / Year on year against the same period last year Not disclosed |
| Medium-term management plan targets | EPS ¥400 / ROE 8 % / Strategic shareholdings-to-net-assets ratio 10 % or lower |
| Financial targets | EPS Target 400 / Actual results ¥331 / ROE Target 8 / Actual results 6.3 % |
| Annual Dividend | ¥170 |
| Payout ratio | 40 % or higher |
| Acquisition of treasury shares | Amount ¥60 hundred million / Number of Shares 130 10,000 shares / Period Not disclosed |
| Market Size / Share | Details Beova / Value No. 1 market share, Details Estimated total TED patient population / Value 35,000 people, Details Estimated active TED patient population / Value 9,000 people, Details Estimated inactive TED patient population / Value 26,000 people, Details Number of new bladder cancer patients / Value 24,000 People/year |
| New initiatives | Measures to ensure appropriate use of Tavneos in line with the safety bulletin and withholding treatment initiation for new patients, Domestic development of products in the thyroid disease area, including Veligrotug and Elegrobart, Preparation for the domestic regulatory application for Cretostimogene, Preparation for the Phase III trial of Matsupexole, Expansion of the growth portfolio through new license-in opportunities, Continuation of the capital allocation policy covering research and development, IT, capital investment and shareholder returns |
Items this document does not state (10)
Results for the three months of the current quarterSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital 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.During the interim period, growth in 5 priority products and other factors mitigated the decline in Tavneos revenue, while overseas licensing income decreased. Operating profit increased as research and development expenses declined, reflecting the absence of the large upfront payment for an introduction agreement recorded in the previous year. Interim net income decreased because, in addition to lower gains on the sale of investment securities, the company recorded an ¥2.1 billion inventory write-down and a ¥2.2 billion impairment loss related to Tavneos as extraordinary losses.
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