KYORIN Pharmaceutical (4569) Q2 2027 earnings summary

Executive summary

• FY2026 H1 net sales were ¥57,489 million, down 2.1% YoY; operating profit fell 77.6% to ¥306 million and net income was a loss of ¥1,566 million.

• Weaker Japan and overseas new-drug sales outweighed generic-drug growth; the net loss included an extraordinary loss on the generic-drug business transfer.

Financial highlights

• Gross profit fell ¥2,513 million YoY to ¥22,382 million; SG&A declined ¥1,456 million to ¥22,076 million, including R&D expense of ¥4,463 million.

• Ordinary profit was ¥689 million, down 56.4% YoY; profit attributable to owners of parent fell from ¥1,494 million to a ¥1,566 million loss.

• H1 comprehensive loss was ¥2,535 million, compared with comprehensive income of ¥2,308 million a year earlier.

• Extraordinary losses totaled ¥2,689 million, including a loss on transfer of the generic-drug business; extraordinary profit was ¥100 million.

Outlook and guidance

• FY ending March 2027 forecast: net sales of ¥121,800 million, operating loss of ¥4,900 million, ordinary loss of ¥4,600 million and net loss of ¥5,100 million.

• Forecast revisions reflect upfront payments under license agreements and the generic-drug business transfer loss.

• Full-year forecast EPS is -¥88.74; actual results may materially differ due to risks and uncertainties.