Latest Results
FY2025 Q1 Consolidated Financial Overview
IFRS results
Revenue for the three months under review was ¥288.5 billion (an increase of 21.8% year on year), operating profit for the three months under review was ¥136.7 billion (an increase of 36.8% year on year), and net income for the three months under review was ¥97.2 billion (an increase of 30.6% year on year). These results include non-Core items, which are excluded from the Core results that Chugai adopts to manage recurring business activities, such as amortization of intangible assets of ¥0.4 billion, impairment loss of intangible assets of ¥0.1 billion, business rebuilding expenses of ¥2.2 billion, and restructuring expenses of ¥0.1 billion.
Core results
Revenue for the three months under review was ¥288.5 billion (an increase of 21.8% year on year), due to an increase in sales, despite a decrease in other revenue.
Of revenue, sales were ¥259.7 billion (an increase of 27.0% year on year). In domestic sales, new products Phesgo® and PiaSky® and the mainstay product Vabysmo® performed favorably. However, due to the effects of the NHI drug price revisions and the market penetration of generic drugs, domestic sales remained at the same levels as those of the same period of the previous fiscal year. Overseas sales increased significantly compared to the same period of the previous fiscal year, due to the significant increase in the export of Hemlibra® and Actemra® to Roche. Other revenue was ¥28.7 billion (a decrease of 11.7% year on year) due to the decrease in one-time income and other factors, despite the increase in income related to Hemlibra®. Furthermore, cost to sales ratio was 33.7%, a 1.8 percentage point improvement year on year, reflecting a change in product mix and other factors. As a result, gross profit amounted to ¥201.0 billion (an increase of 22.3% year on year).
Both research and development expenses at ¥40.7 billion (a decrease of 1.2% year on year) and selling, general and administration expenses at ¥21.0 billion (a decrease of 0.9% year on year) were comparable to the same period of the previous fiscal year. Other operating income (expense) was income of ¥0.3 billion (¥0.2 billion of income for the same period of the previous fiscal year). As a result, core operating profit was ¥139.5 billion (an increase of 36.6% year on year) and core net income was ¥99.2 billion (an increase of 30.5% year on year).
Outlook for the fiscal year
(Billions of yen)
| Outlook for FY 2025 | % change | |
|---|---|---|
| Revenue | 1,190.0 | +1.7 |
| Sales | 1,018.0 | +2.0 |
| Core operating profit | 570.0 | +2.5 |
| Core net income | 410.0 | +3.2 |
Revenue
Revenues are expected to increase to ¥1,190.0 billion (an increase of 1.7% year on year).
Of revenues, domestic sales are expected to increase to ¥462.5 billion (an increase of 0.3% year on year), due to an increase in sales volume of new products Phesgo® and PiaSky® as well as mainstay products, despite the decrease in sales caused by the effects of the NHI drug price revisions and the market penetration of generic drugs.
Overseas sales are expected to increase to ¥555.5 billion (an increase of 3.5% year on year), due to factors such as the growth in sales of Hemlibra®, Alecensa® and NEMLUVIO®, despite a decrease in Actemra®.
Other revenues are expected to decrease to ¥172.0 billion (a decrease of 0.4% year on year). Royalty and profit-sharing income are forecasted to increase to ¥165.7 billion (an increase of 12.4% year on year), due to an increase in income related to Hemlibra®, despite a decrease in income related to Actemra®. Other operating income is expected to decrease to ¥6.3 billion (a decrease of 75.1% year on year) due to the decrease in one-time income.
Core Operating Profit / Core EPS
Gross profit is expected to be ¥849.0 billion (an increase of 2.0% year on year), with the assumption that the cost to sales ratio is 33.5%, which is a 0.4 percentage point improvement year on year, due to a change in the product mix, etc., in addition to the above outlook on revenues.
Research and development expenses are expected to be ¥178.0 billion (an increase of 0.6% year on year), and selling, general and administration expenses are expected to be ¥101.0 billion (a decrease of 1.2% year on year), both of which are basically at the same level as the previous year.
As a result, Core operating profit is expected to reach ¥570.0 billion (an increase of 2.5% year on year) and Core net income is expected to increase to ¥410.0 billion (an increase of 3.2% year on year). Core EPS of ¥250.00 (an increase of 3.6% year on year) is also expected.