Oct. 23, 2015Finances
Sumitomo Dainippon Pharma Announces Revisions to Its Financial Forecasts for the Half-Year Ended September 30, 2015
Osaka, Japan, October 23, 2015 --- Sumitomo Dainippon Pharma Co., Ltd. (Head Office: Osaka,Japan; President: Masayo Tada; Securities Codes: 4506, First Section of TSE) announced today that it has revised its financial forecasts for the half-year ended September 30, 2015 as summarized below, from those announced on July 29, 2015.
- Revisions to the Forecasts of Consolidated Financial Results for the Half-year ended September 30, 2015 (April 1, 2015 to September 30, 2015)
(Amounts in Japanese yen million)
Net sales Operating income Ordinary income Net income attributable to owners of the parent Earnings per share Previous Forecasts (A) 197,500 11,000 11,000 8,000 ¥20.14 Revised Forecasts (B) 198,900 16,800 17,500 13,200 ¥33.22 Variance in amount
1,400 5,800 6,500 5,200 Variance in percent (%) 0.7 52.7 59.1 65.0 [Reference]
(Half-Year ended September 30, 2014)
178,290 11,945 12,712 11,758 ¥29.60
- Reasons for the revisions
The net sales are generally as forecasted. SG&A expenses are expected to be lower than the forecast, because, while SG&A expenses less R&D costs are generally as planned, because 1) a partial return of the expense is expected in relation to the contingent consideration for SUN-101, a chronic obstructive pulmonary disease (COPD) therapeutic agent now under development in the U.S., due to reassessment of the fair value, and 2) some delay is expected in the accrual of overall research and development expenses.
Consequently, the Company now forecasts that net sales for the first half year of fiscal year 2015 will increase by 1.4 billion yen to 198,900 million yen, operating income will increase 5.8 billion yen to 16,800 million yen, ordinary income will increase 6.5 billion yen to 17,500 million yen and net income attributable to owners of the parent will increase 5.2 billion yen to 13,200 million yen, all from the previously-announced respective forecasts.
The forecasts of consolidated financial results for the full year ending March 31, 2016 are currently under review and will be presented at the time of the announcement of half-year financial results planned on October 28, 2015.
Forecasts shown above are based on management's assumptions and beliefs in light of the information currently available,and involve risks and uncertainties.Actual financial results may differ materially depending on a number of factors,including economic conditions.