Q1 2021 Chugai Pharmaceutical Co Ltd Earnings Call Transcript
Welcome to our conference call. I am Osama Okuda, President and CEO of Chugai Pharmaceutical. I'd like to give you the overview of the first quarter fiscal 2021. Please turn to Page 5. Revenues in January to March quarter totaled JPY 168.8 billion, down 5.9% year-on-year, while the operating income was JPY 65.4 billion, down 11.7% year-on-year, posting a decrease in both revenues and profits at the start of the fiscal year. However, in terms of the progress, this represents 21.1% against the full year forecast of JPY 800 billion in revenues and 20.4% in operating income, mostly in line with the initial expectation.
There is no change in the outlook for earnings growth from April onward, and therefore, we expect an increase in revenues and profits for the full year as initially forecasted.
Next, I'd like to explain about the top line. Please go to Page 6. In the domestic business, Tecentriq in the oncology area has achieved steady market penetration and Kadcyla has been performing well as well.
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