DGAP-Ad-hoc: Takeda Pharmaceutical Company Limited / Key word(s): Forecast Notice of the Revised Forecast of Consolidated Financials for FY2020 (IFRS) Osaka, Japan, October 29, 2020 - Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) ("Takeda") announced today, the revised forecast of the full year consolidated financials for the fiscal year ending March 31, 2021, as below.
* Announced on July 31, 2020.
The revenue forecast has been decreased by 50.0 billion JPY, or 1.5%, versus the previous forecast to 3,200.0 billion JPY. This is mainly due to changes in the assumptions of foreign exchange rates reflecting the trend towards appreciation of the yen. The Operating Profit forecast has been increased by 39.0 billion JPY, or 9.9%, to 434.0 billion JPY. This reflects assumptions for one-time gains from several announced divestitures that were not included in the previous forecast but are now expected to be recognized within the current fiscal year, with the exception of the sale of shareholdings in Takeda Consumer Healthcare Company Limited*1. These divestiture gains are non-recurring items and unrelated to our ongoing operations, and therefore do not affect our Core Operating Profit forecast, which remains unchanged at 984.0 billion JPY. Although there is a negative impact to Core Operating Profit from foreign exchange rate fluctuations, this is expected to be absorbed by business momentum underpinned by cost synergies and efficiencies. The net profit for the period attributable to owners of the Company forecast has been increased by 32.0 billion JPY, or 34.8%, to 124.0 billion JPY, primarily due to the increase in profit before tax and updated tax rate assumptions. *1 In August 2020, Takeda announced that it has entered into an agreement to divest Takeda Consumer Healthcare Company Limited ("TCHC"), a wholly-owned subsidiary of Takeda focused on the consumer health care market primarily in Japan, to Blackstone for a total value of 242.0 billion JPY*2. The transaction is expected to close by March 31, 2021, subject to customary legal and regulatory closing conditions. Takeda anticipates a pre-tax gain of approximately 140.0 billion JPY on the sale of shares of TCHC, to be recognized when the transfer of shares is executed and completed, however, it is not included in the revised forecast for the fiscal year ending March 31, 2021. Takeda will continue to assess the appropriate timing of inclusion of this event into its forecast, in consideration of the certainty of exact timing of deal closing. *2 Enterprise value. Actual transfer price will be determined after adjustment for items including net debt and working capital.
There are no changes to Management Guidance.
About Takeda Pharmaceutical Company Limited Contacts:
Important Notice Forward-Looking Statements ### 29-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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: | 1143584 |
End of Announcement | DGAP News Service |
1143584 29-Oct-2020 CET/CEST