Print（PDF/221KB） Jan. 31, 2025 Finances
Sumitomo Pharma Announces Revisions to Its Financial Forecasts
Sumitomo Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Toru Kimura; Securities Code: 4506, Prime Market of TSE) announced today that it has revised the consolidated financial forecasts that were announced on May 14, 2024 for the year ending March 31, 2025 (fiscal 2024), as summarized below, taking the Group’s recent business performance trends into consideration.
1. Revisions to the Forecasts of Consolidated Financial Results for the Year ending March 31, 2025 (April 1, 2024 to March 31, 2025)
(Millions of yen)
| Revenue | Core operating profit | Operating profit | Net profit attributable to owners of the parent | Basic earnings per share | |
|---|---|---|---|---|---|
| Previous Forecasts (A) | 338,000 | 1,000 | 0 | (16,000) | ￥(40.27) |
| Revised Forecasts (B) | 381,000 | 30,000 | 21,000 | 16,000 | ￥40.27 |
| Variance in amount (B－A) | 43,000 | 29,000 | 21,000 | 32,000 | － |
| Variance in percent (%) | 12.7 | － | － | － | － |
| [Reference] Previous year(Year ended March 31, 2024) | 314,558 | (132,978) | (354,859) | (314,969) | ￥(792.79) |
- 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
For the revised forecasts announced today, the Company has changed assumed exchange rates (average exchange rates) for the full-year period from its previous forecasts of 145.0 JPY to 152.0 JPY against 1 USD and 20.0 JPY to 21.0 JPY against 1 RMB.
Revenue is now expected to be 381.0 billion JPY, up by 43.0 billion JPY from the previous forecast, as sales of ORGOVYX® (therapeutic agent for advanced prostate cancer) and other products remain brisk in the North America segment while sales in China are exceeding plans in the Asia segment, on top of an increase due to the updated forex assumptions.
Core operating profit has been revised up by 29.0 billion JPY from the previous forecast to 30.0 billion JPY. This is a result of an increase in gross profit associated with revenue increase, and an expectation that selling, general and administrative expenses and research and development expenses will remain flat due to a decrease in expenses owing to the business structure improvement at the Company, etc., despite an increase due to the updated forex assumptions.
Operating profit has been revised to 21.0 billion JPY, up by 21.0 billion JPY from the previous forecast, because of the sheer magnitude of the increase in core operating profit despite the recording of expenses for business structure improvement and otherwise by the Company. Net profit attributable to owners of the parent has been revised to 16.0 billion JPY, reversing the previously forecasted loss of 16.0 billion JPY.
- 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 day 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 forecast may differ materially from those contained in this release, due to a number of factors.
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