Print(PDF/163KB) Apr. 28, 2022 Finances

Sumitomo Pharma Announces Revisions to Its Financial Forecasts

Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, Prime Market of TSE) announced today that it has revised its consolidated financial forecasts that were announced on January 31, 2022 for the year ended March 31, 2022, as summarized below, given the Group's recent business performance trends.

1. Revisions to the Forecasts of Consolidated Financial Results for the Year ended March 31, 2022 (April 1, 2021 to March 31, 2022)
Revenue Core operating profit Operating profit Net profit attributable to owners of the parent Basic earnings per share
Previous Forecasts (A) Millions of yen
Millions of yen
Millions of yen
Millions of yen
Revised Forecasts (B) 560,000 58,500 60,200 56,400 141.99
Variance in amount (B-A) 6,000 1,500 5,200 19,400
Variance in percent (%) 1.1 2.6 9.5 52.4
(Reference) Previous year (Year ended March 31, 2021) 515,952 69,583 71,224 56,219 141.50

Note: Core operating profit is calculated by deducting from operating profit any gains and losses resulting from nonrecurring factors, including changes in fair value of contingent consideration, impairment losses, and business structure improvement expenses.

2. Reasons for the revisions
In light of the solid business performance, we have revised our previous forecasts for revenue and core operating profit to 560.0 billion yen (up by 6.0 billion yen) and 58.5 billion yen (up by 1.5 billion yen), respectively. We have also revised our previous forecasts for operating profit to 60.2 billion yen (up by 5.2 billion yen), as we expect a decline in expenses under the change in fair value of contingent consideration.
Likewise, we have revised our previous forecasts for net profit attributable to owners of the parent to 56.4 billion yen (up by 19.4 billion yen), as we expect to record a large sum in forex gains under finance income/costs due to a depreciation of the yen at the end of the term.

Disclaimer Regarding Forward-looking Statements
The statements made in this press release contain forward-looking statements based on management's assumptions and beliefs in light of information available as of the date of this release, which involve both known and unknown risks and uncertainties. Actual results of those matters covered in the forward-looking statements, including financial forecasts, may differ materially from those contained in this release, due to a number of factors.

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