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Chugai Pharmaceutical (4519) investor relations material
Chugai Pharmaceutical Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record-high revenue of JPY 1,257.9 billion in FY2025, with operating profit reaching JPY 623.2 billion and net income at JPY 451.0 billion, driven by strong domestic and overseas sales, especially Hemlibra and Actemra exports.
Operating profit margin reached a record 49.5%, with core net income increasing for the ninth consecutive year.
Management expects another year of record-breaking results in 2026, with revenue forecasted at JPY 1,345 billion and core operating profit at JPY 670 billion.
Growth is supported by domestic sales, increased royalty and profit-sharing income, and a focus on new and mainstay products.
Special dividends were paid for the 100th anniversary, resulting in a high payout ratio for 2025.
Financial highlights
Pharmaceutical product sales rose 8.0% year-on-year to JPY 1,077.8 billion; domestic sales up 2.5% to JPY 472.4 billion and overseas sales up 12.8% to JPY 605.4 billion.
Other revenues, including royalties, increased to JPY 180.1 billion, mainly from Hemlibra royalties.
Cost of sales ratio for pharmaceutical products improved by 1.3 percentage points to 32.6%.
R&D expenses rose to JPY 180.1 billion, mainly due to yen depreciation and ongoing investment in drug discovery.
Earnings per share (basic) increased to JPY 263.73, with core EPS projected at JPY 295.00 for 2026.
Outlook and guidance
FY2026 revenue projected to grow 6.9% year-on-year to JPY 1,345 billion; core operating profit to rise 7.5% to JPY 670 billion; core net income to reach JPY 485.0 billion.
Domestic product sales expected to increase, offsetting NHI price revisions and generic competition, while overseas sales are projected to remain flat.
Other revenues to increase significantly, driven by higher royalties and milestone payments from Lunsumio, Orforglipron, and Hemlibra.
Ordinary dividend for 2026 forecasted at JPY 132 per share, up JPY 10 from 2025, with a payout ratio of 44.7%.
Strategic focus on accelerating R&D, digital transformation, and global product launches to achieve sustainable growth.
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