Takeda Pharmaceutical Projects Lower Annual Profit After Quarterly Loss
By Kosaku Narioka
Takeda Pharmaceutical reported a fourth-quarter loss and forecast a drop in annual net profit due partly to restructuring expenses.
The Japanese drugmaker said Thursday that it booked a net loss of 3.0 billion yen ($19.3 million) for the three months ended March, compared with a net profit of Y31.1 billion a year earlier.
Fourth-quarter revenue increased 9.9% to Y1.051 trillion.
For the year that began in April, it projected net profit to drop 60% to Y58.00 billion and revenue to increase 2.0% to Y4.350 trillion.
Takeda said it expects to book Y140.0 billion in restructuring expenses this fiscal year under a new initiative aiming for growth and cost cuts.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
May 09, 2024 03:08 ET (07:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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