Nippon Shinyaku revised down its full-year earnings forecast for fiscal 2026, citing delays in the US review of CAP-1002 and the fact that the launch timing has become undetermined due to arbitration proceedings with its partner. The new forecast calls for revenue of ¥191 billion and operating profit of ¥33 billion, among other figures.
Nippon Shinyaku revised down its full-year earnings forecast for fiscal 2026. Revenue is projected at ¥191 billion, operating profit at ¥33 billion, profit before tax at ¥34 billion, and profit attributable to owners of the parent at ¥27 billion, all below the previous forecasts, while research and development expenses have been increased to ¥42.5 billion.
The main reasons for the downward revision are the postponement of the completion date for the US review of CAP-1002, a treatment for Duchenne muscular dystrophy, from 22 August to 22 November, and the exclusion of projected sales of the drug from the current fiscal year's forecast because its launch timing is undetermined while arbitration proceedings with partner Capricor continue. The previous sales forecast for CAP-1002 was ¥11.4 billion.
The increase in research and development expenses was attributed to progress in the development of in-licensed products and other items.
The revision excludes CAP-1002's contribution to revenue, and attention is focused on future developments related to deramiocel and progress in the review process.