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Takeda Pharmaceutical Company
Takeda Pharmaceutical Company (4502) investor relations material
Takeda Pharmaceutical Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary29 Jan, 2026
Executive summary
Revenue for the nine-month period ended December 31, 2025, was JPY 3,411.2 billion, down 3.3% year-over-year, mainly due to Vyvanse generic erosion, partially offset by growth in launch products.
Core operating profit declined 3.4% year-over-year to JPY 971.6 billion, but reported operating profit rose 1.2% to JPY 422.4 billion due to lower restructuring costs offsetting impairment charges.
Net profit attributable to owners was JPY 216.1 billion, up 2.4% year-over-year, with EPS at 137 yen (+2.7%) and total comprehensive income surging to JPY 1,018.4 billion on currency gains.
Adjusted free cash flow increased 10.1% year-over-year to JPY 625.9 billion, reflecting improved working capital and higher operating cash flow.
Leadership transition to Julie Kim as CEO is underway to ensure continuity and focus on upcoming launches.
Financial highlights
Revenue: JPY 3,411.2 billion (-3.3% year-over-year, -2.8% at CER); core operating profit: JPY 971.6 billion (-3.4% year-over-year); reported operating profit: JPY 422.4 billion (+1.2% year-over-year).
Net profit: JPY 216.1 billion (+2.4% year-over-year); EPS: 137 yen (+2.7% year-over-year); core EPS: JPY 428.
Adjusted free cash flow: JPY 625.9 billion (+10.1% year-over-year), even after a $1.2 billion upfront payment to Innovent Biologics.
Operating cash flow: JPY 966.9 billion (+15.8% year-over-year); cash and cash equivalents at period end: JPY 654.9 billion.
Growth and launch products, now over 50% of revenue, grew 6.7% at CER, improving from 5% in Q1 and Q2.
Outlook and guidance
FY2025 revenue forecast revised up to JPY 4,530.0 billion, with core operating profit forecast raised to JPY 1,150.0 billion and core EPS to JPY 486.
Adjusted free cash flow guidance increased to JPY 650.0–750.0 billion.
Dividend per share projected at JPY 200 for FY2025.
Management guidance at constant exchange rates projects low-single-digit percentage declines in core revenue, core operating profit, and core EPS.
Continued OpEx discipline expected to offset launch investments and R&D increases.
How do growth products mitigate VYVANSE erosion?
Detail the gamma delta T-cell therapy impairment.
Explain the revised low-teen cash tax rate.
New product profit contribution timing by asset?
ENTYVIO biosimilar strategy post-IRA selection?
Org changes: AI/tech impact on launch execution?
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Next Takeda Pharmaceutical Company earnings date
Q4 20267 May, 2026
Takeda Pharmaceutical Company
Next Takeda Pharmaceutical Company earnings date
Q4 20267 May, 2026
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Frequently asked questions
Takeda Pharmaceutical Company Limited, founded in 1781, is a research-based global company. The Company's segment is engaged in the research and development, manufacturing and marketing of pharmaceutical products. Through its global presence in over 70 countries, the Company offers a range of products to meet unmet medical needs in a variety of therapeutic areas, including gastroenterology, oncology and neuroscience, among others. The Company's business unit includes Gastroenterology Business Unit, Oncology Business Unit and General Medicines Business Unit. GBU's focus is on creating new value in GI diseases to enhance the lives of patients and their families. OBU's focus is on building a portfolio with the potential to serve patients worldwide that address unmet cancers. GMBU focuses on providing innovative treatment options for patients in such disease areas as internal medicine, respiratory, renal and central nervous system.
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