Astellas Pharma
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Astellas Pharma (4503) investor relations material

Astellas Pharma Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary4 Feb, 2026

Executive summary

  • Achieved double-digit revenue growth (+10.2% YoY) and significant core operating profit increase (+48.6% YoY), driven by strong performance of strategic brands and cost optimization initiatives.

  • Upward revision of full-year forecasts for revenue, core operating profit, and full operating profit, reflecting robust business performance and continued momentum.

  • Strategic brands, including PADCEV, IZERVAY, VYLOY, VEOZAH, and XOSPATA, delivered substantial year-over-year sales growth, with PADCEV and VYLOY as key drivers.

  • Pipeline advanced with major regulatory approvals and positive clinical trial results, particularly for PADCEV, VYLOY, ASP3082, and ASP2138.

  • Gross profit increased 9.0% year-over-year to ¥1,286.6 billion.

Financial highlights

  • Revenue for Q3 YTD FY2025 reached ¥1,601.3 billion, up 10.2% year-over-year; core operating profit rose to ¥442.1 billion, up 48.6% year-over-year, with margin up to 27.6% (+7.1ppt YoY).

  • SG&A expenses decreased 1.0% year-over-year to ¥625.6 billion; R&D expenses fell 12.9% year-over-year to ¥218.9 billion, improving R&D ratio to 13.7%.

  • Free cash flow surged to ¥310.8 billion (Q3 YTD), up from ¥7.0 billion YoY; cash and equivalents increased to ¥254.3 billion.

  • Basic core earnings per share rose 48.6% year-over-year to ¥185.20.

  • On a full basis, profit for the period was ¥247.96 billion, reversing a loss of ¥24.15 billion in the prior year.

Outlook and guidance

  • Full-year FY2025 revenue forecast raised to ¥2,100 billion, up 3.4% from FY2024; core operating profit forecast increased to ¥520 billion (+6.1% YoY), and core profit to ¥385 billion (+5.5%).

  • Core OP margin expected to rise by 4.2 percentage points year-over-year to 24.8%.

  • R&D expenses projected at ¥315 billion, with increased late-stage development investments expected from Q4 and FY2026 onward.

  • No impairment indication as of Feb 2026.

  • Full basis profit forecast for FY2025 is ¥250 billion, up 38.9% year-over-year.

Explain the full basis operating profit turnaround.
What drove VYLOY's exceptional sales growth?
Detail the shift in the company's debt structure.
SMT's role in post-XTANDI LOE profitability
ASP3082 competitive edge and differentiation
XTANDI LOE mitigation strategy and tablet patent
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Q4 202624 Apr, 2026
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Frequently asked questions

Astellas Pharma Inc., is a Japanese multinational pharmaceutical company that emerged from the merger between Yamanouchi Pharmaceutical Co., Ltd. and Fujisawa Pharmaceutical Co., Ltd. in 2005. Astellas focuses on several key therapeutic areas including oncology, urology, immunology, cardiology, and infectious diseases, with a priority on research and development in infectious diseases, diabetes, gastrointestinal diseases, oncology, and central nervous system diseases. Astellas Pharma Inc. is headquartered in Tokyo, Japan, and its shares are listed on the Tokyo Stock Exchange.

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