Takeda Bracing for 383-B.-Yen Net Loss for FY 2019

Economy

Tokyo, May 14 (Jiji Press)--Takeda Pharmaceutical Co. <4502> said Tuesday that it expects to incur a consolidated net loss of 383 billion yen in fiscal 2019 to next March, compared with the 109,126-million-yen net profit in the previous year.

The bottom line will be dented by 796 billion yen due to an accounting factor related to the Japanese drug maker's 6.2-trillion-yen acquisition of major Irish peer Shire PLC in January. Specifically, Takeda reevaluated inventories at Shire at market value.

Takeda will also be weighed by payments to advisers for the acquisition and the interest burden from loans for buying Shire.

Fiscal 2019 group sales are forecast at 3.3 trillion yen, up 57.4 pct from fiscal 2018 and almost double the 1,770,531 million yen in fiscal 2017, which did not reflect Shire's performance.

Excluding factors related to the acquisition, Takeda's fiscal 2019 bottom line is estimated at 413 billion yen in profit.

[Copyright The Jiji Press, Ltd.]

Jiji Press