Daiichi Sankyo Company (4568) Q4 2025 earnings summary

Executive summary

• Revenue for FY2024 rose 17.8% year-on-year to JPY 1,886.3 billion, driven by strong global sales of Enhertu and favorable FX effects.

• Core operating profit increased 60.2% to JPY 312.8 billion, with profit attributable to owners up 47.3% to JPY 295.8 billion.

• Enhertu achieved double-digit sales growth across all regions, with global sales reaching JPY 552.8 billion and solidifying market leadership in multiple cancer indications.

• Datopotamab deruxtecan (DATROWAY®) launched and approved in Japan, US, and EU for HR-positive, HER2-negative breast cancer.

• Dividend per share increased for the third consecutive year to JPY 60, with a forecast of JPY 78 for FY2025 and further share buybacks planned.

Financial highlights

• Revenue increased by JPY 284.6 billion year-on-year, with a JPY 51.3 billion positive impact from foreign exchange.

• Core operating profit rose by JPY 117.6 billion, and operating profit by 56.9% to JPY 331.9 billion.

• SG&A expenses grew by JPY 97.5 billion, mainly due to profit sharing with AstraZeneca.

• R&D expenses increased by JPY 68.5 billion, reflecting expanded investment in ADC development.

• Profit attributable to owners reached JPY 295.8 billion, up 47.3% year-on-year.

Outlook and guidance

• FY2025 revenue target set at JPY 2 trillion, with core operating profit forecast at JPY 350 billion.

• Oncology segment revenue expected to reach JPY 900 billion.

• R&D expenses for FY2025 projected at JPY 455 billion, reflecting expanded ADC pipeline and alliance activities.

• Annual dividend forecast raised to JPY 78 per share, with a new share buyback limit of JPY 200 billion.

• Negative FX impact of JPY 75 billion on revenue and JPY 3.5 billion on core operating profit expected.