Shionogi & Co (4507) Q3 2025 earnings summary

Executive summary

• Revenue for Apr–Dec 2024 was ¥333.6B, down 1.0% year-over-year due to a prior-year ADHD drug license transfer; excluding this, revenue grew 7.0%.

• Operating profit for Apr–Dec 2024 was ¥129.2B, up from ¥113.7B (excluding one-time payment) in the prior year, but down 6.9% year-over-year due to higher R&D expenses and product mix changes.

• Profit attributable to owners was ¥133.8B, up 5.2% year-over-year, with all profit items increasing when excluding the non-recurring ADHD license transfer.

• Royalty income rose to ¥186.8B, up 25.3% year-over-year, mainly from HIV products and FX effects.

• Overseas sales and exports rose 18.8% year-over-year to ¥43.4B, with strong growth in Cefiderocol in the US and Europe.

Financial highlights

• Revenue for Apr–Dec 2024 was ¥333.6B, nearly flat year-over-year when excluding the prior year’s one-time payment.

• Operating profit for Apr–Dec 2024 was ¥129.2B, up from ¥113.7B (excluding one-time payment) in the prior year.

• EBITDA was ¥146.4B, down 8.6% year-over-year.

• Basic EPS was ¥157.30, up from ¥145.30 year-over-year, reflecting the 3-for-1 stock split.

• Comprehensive income was ¥158.2B, down from ¥183.4B year-over-year.

Outlook and guidance

• Full-year revenue forecast is ¥460.0B, with operating profit forecast at ¥165.0B.

• Profit attributable to owners of parent is forecast at ¥171.0B (+5.5%), and basic EPS at ¥201.03.

• Growth in China is expected through new drug launches, with a focus on accelerating product introductions and drug discovery.

• HIV and overseas businesses are expected to continue driving growth, with domestic infectious disease business providing stability.

• No revisions to the previously announced consolidated financial forecast.