Takeda shares hit as profits slide

Japanese drugmaker Takeda (TYO: 4502) reported a rise in revenue at the end of Japan’s 2021/22 financial year, but saw a significant drop in its profits.

Takeda’s reported revenue rose 11.6% to 3,569 billion yen ($27.51 billion), though its 12-month operating profit slid 9.5% to 460.8 billion yen. The absence of one-time gains seen in fiscal 2021 was to blame for the reduction, the company said.

The profit figure compares with Takeda’s earlier estimate of 515 billion yen and a consensus forecast of 509 billion yen from a Refinitiv poll of 15 analysts .Looking ahead, Takeda estimated that the current fiscal year's operating profit would hit 520 billion yen, an increase of nearly 13%.