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Kyowa Kirin (4151) investor relations material
Kyowa Kirin Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for Jan–Sep 2025 was ¥349.5B, down 3.7% year-over-year, mainly due to APAC restructuring and drug price reductions, with overseas sales comprising 73% of total revenue.
Core operating profit declined 16.7% to ¥62.0B, and net profit dropped 41.7% to ¥32.6B, reflecting lower core profit and absence of prior-year one-time gains.
Major revenue drivers included Crysvita (+9% YoY), Poteligeo (+16% YoY), and Libmeldy/Lenmeldy (+103% YoY), while Japan sales fell due to Dobovet partnership termination and NHI price cuts.
North America and EMEA saw growth in strategic products, while APAC/Other revenue dropped due to restructuring.
Profit before tax was ¥47.9B (down 33.0%), and basic EPS was ¥62.28 (down from ¥105.20 YoY).
Financial highlights
Gross profit margin remained stable at 74%, but gross profit decreased by 3% YoY.
SG&A expenses decreased 2% YoY, reflecting APAC business restructuring.
R&D expenses increased 3% YoY to ¥76.8B, driven by consolidation of Orchard and pipeline progress.
Negative forex impact reduced revenue by ¥3.9B and core OP by ¥2.3B.
Cash and cash equivalents at period end: ¥240.2B; net cash from operating activities: ¥69.6B.
Outlook and guidance
FY2025 revenue guidance is ¥478.0B, with 73% progress to goal as of Q3.
Core OP margin is expected to be 17% for FY2025; core OP forecast: ¥80.0B.
Net profit forecast: ¥57.0B; R&D ratio projected at 22% for the full year.
No revisions to previously announced forecasts.
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