DGAP-Ad-hoc: Takeda Pharmaceutical Company Limited / Key word(s): Forecast
Takeda Pharmaceutical Company Limited: Notice of the Revised Forecast of
Consolidated Financials for FY2020 (IFRS)
31-Jul-2020 / 08:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
*Notice of the Revised Forecast of Consolidated Financials for FY2020
(IFRS)*
*Osaka, Japan, July 31, 2020 - *Takeda Pharmaceutical Company Limited
(TSE:4502/NYSE:TAK [1]) ("Takeda") announced today, the revised forecast of
the full year consolidated financials for the fiscal year ending March 31,
2021, as below.
*1. *Revised Forecast for Full Year Consolidated Financials for the Fiscal
Year Ending March 31, 2021
(millions of yen)
Revenue Core Operating Profit Net Basic Core
Operating profit before profit earni EPS
Profit income attrib ngs
taxes utable per
to share
owners
of
the
Compan
y
Previous 3,250,0 984,000 355,000 200,00 60,000 38.52 420
Forecast 00 0 yen yen
(A)*
Revised 3,250,0 984,000 395,000 230,00 92,000 58.91 420
Forecast 00 0 yen yen
(B)
Discrepancy ? ? +40,000 +10,00 +32,00 ? ?
(B-A) 0 0
Change % ? ? +11.3% +15.0% +53.3% ? ?
* Announced on May 13, 2020.
2. Reasons for Revision
The revenue forecast has not been changed at 3,250.0 billion JPY.
The Operating Profit forecast has been increased by 40.0 billion JPY, or
11.3%, to 395.0 billion JPY. This reflects a net positive effect of one-time
items recognized during the first quarter of FY2020: an approximately 60.0
billion JPY profit due to an update to previously recognized liabilities for
SHP647 to reflect a change in expected future costs, such as program
termination costs, as a result of the European Commission's decision to
release Takeda from the obligation to divest SHP647; and an approximately
20.0 billion JPY loss due to the remeasurement of contingent consideration
assets at fair value as a result of Novartis' withdrawal of the Marketing
Authorisation Application in Europe for XIIDRA.
The profit before tax forecast has been increased by 30.0 billion JPY, or
15.0%, to 230.0 billion JPY. This reflects an approximately 10.0 billion JPY
loss of associates accounted for using the equity method recognized during
the first quarter of FY2020, mainly due to an impairment charge on certain
assets recognized by Teva Takeda Pharma Ltd.
The forecast for net profit for the period attributable to owners of the
Company has been increased by 32.0 billion JPY, or 53.3%, to 92.0 billion
JPY, due to the factors explained above and associated tax benefits.
The forecasts for Core Operating Profit and Core EPS remain unchanged as the
factors explained above are unusual, non-recurring items and unrelated to
our ongoing operations.
3. Management Guidance
There are no changes in the Management Guidance.
Previous Guidance Revised Guidance
(May 13, 2020) (July 31, 2020)
Underlying Low-single-digit growth Low-single-digit growth
Revenue Growth
Underlying Core High-single-digit High-single-digit
Operating Profit growth growth
Growth
Underlying Core Low-30s% Low-30s%
Operating Profit
Margin
Underlying Core Low-teen growth Low-teen growth
EPS Growth
*About Takeda Pharmaceutical Company Limited*
Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK [1]) is a global,
values-based, R&D-driven biopharmaceutical leader headquartered in Japan,
committed to bringing Better Health and a Brighter Future to patients by
translating science into highly-innovative medicines. Takeda focuses its R&D
efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience,
and Gastroenterology (GI). We also make targeted R&D investments in
Plasma-Derived Therapies and Vaccines. We are focusing on developing highly
innovative medicines that contribute to making a difference in people's
lives by advancing the frontier of new treatment options and leveraging our
enhanced collaborative R&D engine and capabilities to create a robust,
modality-diverse pipeline. Our employees are committed to improving quality
of life for patients and to working with our partners in health care in
approximately 80 countries.
For more information, visit https://www.takeda.com [2].
*Contacts:*
*Investor Relations* *Media Relations*
Takashi Okubo, +81-(0)3-3278-2306 Kazumi Kobayashi, +81
takeda.ir.contact@takeda.com (0)3-3278-2095
kazumi.kobayashi@takeda.com
*Important Notice*
For the purposes of this notice, "press release" means this document, any
oral presentation, any question and answer session and any written or oral
material discussed or distributed by Takeda Pharmaceutical Company Limited
("Takeda") regarding this release. This press release (including any oral
briefing and any question-and-answer in connection with it) is not intended
to, and does not constitute, represent or form part of any offer, invitation
or solicitation of any offer to purchase, otherwise acquire, subscribe for,
exchange, sell or otherwise dispose of, any securities or the solicitation
of any vote or approval in any jurisdiction. No shares or other securities
are being offered to the public by means of this press release. No offering
of securities shall be made in the United States except pursuant to
registration under the U.S. Securities Act of 1933, as amended, or an
exemption therefrom. This press release is being given (together with any
further information which may be provided to the recipient) on the condition
that it is for use by the recipient for information purposes only (and not
for the evaluation of any investment, acquisition, disposal or any other
transaction). Any failure to comply with these restrictions may constitute a
violation of applicable securities laws.
The companies in which Takeda directly and indirectly owns investments are
separate entities. In this press release, "Takeda" is sometimes used for
convenience where references are made to Takeda and its subsidiaries in
general. Likewise, the words "we", "us" and "our" are also used to refer to
subsidiaries in general or to those who work for them. These expressions are
also used where no useful purpose is served by identifying the particular
company or companies.
*Forward-Looking Statements*
This press release and any materials distributed in connection with this
press release may contain forward-looking statements, beliefs or opinions
regarding Takeda's future business, future position and results of
operations, including estimates, forecasts, targets and plans for Takeda.
Without limitation, forward-looking statements often include words such as
"targets", "plans", "believes", "hopes", "continues", "expects", "aims",
"intends", "ensures", "will", "may", "should", "would", "could"
"anticipates", "estimates", "projects" or similar expressions or the
negative thereof. These forward-looking statements are based on assumptions
about many important factors, including the following, which could cause
actual results to differ materially from those expressed or implied by the
forward-looking statements: the economic circumstances surrounding Takeda's
global business, including general economic conditions in Japan and the
United States; competitive pressures and developments; changes to applicable
laws and regulations; the success of or failure of product development
programs; decisions of regulatory authorities and the timing thereof;
fluctuations in interest and currency exchange rates; claims or concerns
regarding the safety or efficacy of marketed products or product candidates;
the impact of health crises, like the novel coronavirus pandemic, on Takeda
and its customers and suppliers, including foreign governments in countries
in which Takeda operates, or on other facets of its business; the timing and
impact of post-merger integration efforts with acquired companies; the
ability to divest assets that are not core to Takeda's operations and the
timing of any such divestment(s); and other factors identified in Takeda's
most recent Annual Report on Form 20-F and Takeda's other reports filed with
the U.S. Securities and Exchange Commission, available on Takeda's website
at:
https://www.takeda.com/investors/reports/sec-filings/ [3] or at www.sec.gov
[4]. Takeda does not undertake to update any of the forward-looking
statements contained in this press release or any other forward-looking
statements it may make, except as required by law or stock exchange rule.
Past performance is not an indicator of future results and the results or
statements of Takeda in this press release may not be indicative of, and are
not an estimate, forecast, guarantee or projection of Takeda's future
results.
###
31-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Takeda Pharmaceutical Company Limited
1-1, Nihonbashi-Honcho 2-Chrome, Chuo-ku
103-8668 Tokyo
Japan
Phone: +81-3-3278-2039
E-mail: hisashi.tokinoya@takeda.com
ISIN: JP3463000004, XS1843449981, XS1843450138, XS1843449049,
XS1843449809, XS1843449122, XS1843449395,
WKN: 853849
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt,
Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1106067
End of Announcement DGAP News Service
1106067 31-Jul-2020 CET/CEST
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(END) Dow Jones Newswires
July 31, 2020 02:00 ET (06:00 GMT)
