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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sumitomo Dainippon Pharma Co., Ltd.    4506   JP3495000006

SUMITOMO DAINIPPON PHARMA CO., LTD.

(4506)
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Sumitomo Dainippon Pharma : Announces Revisions to Its Financial Forecasts

10/29/2020 | 08:50am EST

Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka, Japan; Representative Director, President and CEO: Hiroshi Nomura; Securities Code: 4506, First Section of TSE) announced today that it has revised the consolidated financial forecasts that were announced on July 30, 2020 for the year ending March 31, 2021 (fiscal 2020), as summarized below, taking the Group's recent business performance trends into consideration.

Reasons for the revisions

Revenue is now expected to be 506.0 billion yen, an increase of 11.0 billion yen from the previous forecast, as sales of LATUDA (atypical antipsychotic) remained strong up to the end of the first six months of the fiscal year ending March 31, 2021, contrary to the expected decline in U.S. sales due to the disturbances caused by COVID-19.

Core operating profit is now expected to be 47.0 billion yen, an increase of 14.0 billion yen from the previous forecast, as we expect gross profit to increase due to revenue growth and selling, general and administrative expenses to decrease on the core basis. Operating profit is now expected to be 58.0 billion yen, an increase of 34.0 billion yen from the previous forecast, as expenses associated with a change in fair value of contingent consideration are expected to decrease from the previous forecast due to a review of the development schedule for napabucasin, which is currently under development as an anti-cancer drug.

Due to the increase in operating profit, the forecasts for net profit and net profit attributable to owners of the parent have been revised to 21.0 billion yen and 42.0 billion yen, respectively, both representing an increase of 33.0 billion yen from their previous forecasts.

Disclaimer Regarding Forward-looking Statements

The statements made in this press release contain forward-looking statements based on management's assumptions and beliefs in light of information available as of the day of this release, which involve both known and unknown risks and uncertainties. Actual results of those matters covered in the forward-looking statements including financial forecast may differ materially from those contained in this release, due to a number of factors.

Contact:

Tel: +81-6-6203-1407

(C) 2020 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SUMITOMO CHEMICAL COMPANY, LIMITED 1.05% 385 End-of-day quote.-22.69%
SUMITOMO DAINIPPON PHARMA CO., LTD. -2.02% 1358 End-of-day quote.-36.24%
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Financials
Sales 2021 507 B 4 854 M 4 854 M
Net income 2021 21 341 M 204 M 204 M
Net Debt 2021 167 B 1 604 M 1 604 M
P/E ratio 2021 21,0x
Yield 2021 2,06%
Capitalization 540 B 5 162 M 5 167 M
EV / Sales 2021 1,39x
EV / Sales 2022 1,39x
Nbr of Employees 6 457
Free-Float 40,6%
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Technical analysis trends SUMITOMO DAINIPPON PHARMA CO., LTD.
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus UNDERPERFORM
Number of Analysts 9
Average target price 1 370,00 JPY
Last Close Price 1 358,00 JPY
Spread / Highest target 47,3%
Spread / Average Target 0,88%
Spread / Lowest Target -19,0%
EPS Revisions
Managers
NameTitle
Hiroshi Nomura President & Representative Director
Masayo Tada Chairman
Yoshiharu Ikeda GM-Production, Head-Research & Technology
Nobuhiko Tamura Director & Managing Executive Officer
Hitoshi Odagiri Director, GM-Sales & Head-Japan Business Unit
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