Takeda reports strong 1st-qtr FY2023 results

27 July 2023

Japan’s largest pharma company Takeda (TYO: 4502) today announced strong financial results for the first quarter of fiscal year 2023 (period ended June 30, 2023). The firm’s edged up 0.7% to 4,401 yen following the news.

Revenues for the three months, as reported, came in at 1,059 billion yen ($7.45 billion), a year-on-year rise of 8.9%. Operating profit was 168.6 billion yen, up 12%, while net profit declined 14.9% to 89.4 billion yen. Earnings per share (EPS) were 58 yen, a decline of 15.4%.

Takeda’s chief financial officer Costa Saroukos commented: “Our growth and launch products continued to drive revenue growth in the first quarter of FY2023, contributing to a core operating profit margin of 30.8%. While we still anticipate headwinds affecting our business this fiscal year, largely due to generic competition, we remain confident of a return to growth in the near-term.

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