Q1 2023 Sumitomo Pharma Co Ltd Earnings Call Transcript
I would like to report on the first quarter results for FY 2022 and the current status of clinical development. Let's start with Page 3.
This slide shows a summary of our first quarter financial results. Figures are shown on the core IFRS basis. Revenues totaled JPY 159.9 billion, an increase of JPY 28.7 billion from the same period last year. Sales in Japan segment declined due to the impact of the NHI drug price revision. On the other hand, sales in North America, China and other regions segment increased due to the impact of foreign exchange translation and the recording of onetime revenues. Selling, general and administrative expenses and R&D expenses also increased due to the effect of foreign currency exchange.
Core operating profit increased JPY 4.9 billion year-on-year to JPY 13.4 billion, largely due to the increase in gross profit from higher sales. Nonrecurring items, such as changes in the fair value of contingent consideration, did not change significantly in the previous and current fiscal years.
Operating profit increased year-on
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