By Kosaku Narioka
Takeda Pharmaceutical Co. posted a net loss in its fourth-quarter due partly to higher cost of sales and research and development expenses.
The Japanese drugmaker said Wednesday that its net loss for the quarter ended March 31 was Y11.4 billion yen ($87.4 million), compared with a net profit of Y197.1 billion a year earlier, which was boosted by gains from the sale of its consumer-healthcare business.
The quarterly net loss missed the estimated net profit of Y15.96 billion from a poll of analysts by S&P Global Market Intelligence.
Fourth-quarter revenue increased 13% from a year earlier to Y873.3 billion.
Takeda said cost of sales rose 22% to Y308.4 billion and research and development expenses increased 27% to Y143.6 billion, resulting in an operating loss.
Takeda expects revenue to increase 3.4% to Y3.690 trillion for the fiscal year started in April, while it expects net profit to rise 27% to Y292.00 billion thanks partly to lower restructuring-related expenses.
Write to Kosaku Narioka at email@example.com
(END) Dow Jones Newswires