Taisho Revises Earnings Forecasts for FY2007 Full Year
January 31st, 2008 Posted by: admin
TOKYO, Jan. 30, 2008-Taisho Pharmaceutical Co., Ltd. announced that, based on recent business trends, it has revised its earnings forecasts for the full year of fiscal 2007. The previous forecasts were announced on October 10, 2007.
1. Consolidated Forecasts of Business Results
Full Year Fiscal 2007 (April 1, 2007 to March 31, 2008)
|
?Millions of yen, %? Sales |
Operating Income |
Ordinary Income |
Net Income |
||||
|
Previous Forecast (A) |
243,500 |
29,500 |
35,500 |
22,000 |
|||
|
Revised Forecast (B) |
248,500 |
35,500 |
41,500 |
26,000 |
|||
|
Change (B-A) |
5,000 |
6,000 |
6,000 |
4,000 |
|||
|
Change (%) |
2.1% |
20.3% |
16.9% |
18.2% |
|||
|
Full Year Fiscal 2006 |
242,071 |
22,357 |
24,926 |
15,420 |
|||
3. Reasons for the Revision
– Operating results for the full year
The previous forecasts were revised as follows, taking into account actual sales in the third quarter and the projected sales in the fourth quarter (January to March 2008).
– Self-Medication Operation Group
The sales forecast for the Self-Medication Operation Group for Fiscal 2007 was revised upward from ¥149.8 billion to ¥152.3 billion.
The sales forecast for the Lipovitan series, our mainstay energy drinks, was revised upward from ¥73.2 billion to ¥75.5 billion. The revision was mainly due to steady sales of Lipovitan D at stores and brisk sales of Lipovitan fine, for which Taisho has enhanced sales efforts at convenience stores.
The sales forecast for the Pabron series of cold remedies was revised upward to ¥23.0 billion, an increase of ¥0.5 billion, in view of the effect of the market release of the new product Pabron Ace AX. The sales forecast for the RiUP series of hair regrowth treatments was also revised upward to ¥10.3 billion, an increase of ¥0.2 billion, in view of the effect of the market release of the new product RiUP PLUS.
– Prescription Pharmaceutical Operation Group
The sales forecast for the Prescription Pharmaceutical Operation Group for Fiscal 2007 was revised upward from ¥93.7 billion to ¥96.2 billion.
Sales of products at Taisho Toyama Pharmaceutical Co., Ltd., and its core products such as the macrolide antibiotic Clarith in particular, have been almost exactly as planned. Sales of its new product, a quinolone antibacterial agent Geninax, have been robust. However, the forecast for sales at the subsidiary was not revised because sales could be affected by the reluctance of medical institutions to buy products during the period prior to the revision of NHI drug prices.
Meanwhile, the forecast of royalty income for Fiscal 2007 was revised upward by ¥2.5 billion to ¥3.9 billion, in view of the lump-sum proceeds posted from an agreement between the US-based Pfizer Inc. and Taisho regarding the out-licensing of development candidate substance.
– On the earnings front, total of selling, general & administrative expenses is expected to drop below the previous forecast, due to cost review centering on sales promotion and R&D expenses in addition to the upward revision of net sales. In response to this, the earnings forecasts were revised upward from the previous forecast.
(Note) The above forecasts were formulated based on information available as of the release date of this report. A number of subsequent factors may cause actual results to differ materially from these forecasts.
Company: Taisho Pharmaceutical Co., Ltd.
Representative: Akira Uehara, President
(First Section of TSE: Code 4535)
Contact: Yoshio Ninomiya, Executive Officer,
General Manager of Public Relations Section
(Tel: +81-3-3985-1115)
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Source: Taisho Revises Earnings Forecasts for FY2007 Full Year