Eisai (4523) Q1 2027 earnings summary

Executive summary

• Q1 revenue rose 16% year-over-year to JPY 234.3 billion, driven by strong growth in LENVIMA, DAYVIGO, and Leqembi, with favorable currency effects.

• Operating profit increased 19.2% year-over-year to JPY 24.7 billion, with profit attributable to owners up 26% to JPY 18.2 billion.

• Comprehensive income surged 181.7% to JPY 31.2 billion, reflecting operational and currency translation gains.

• Progress toward full-year forecast is on track, with revenue at 26.5–27% and operating profit at 35–35.3% of annual targets.

• Significant advances in neurology and oncology pipelines, including new product approvals and expanded indications.

Financial highlights

• Revenue: JPY 234.3 billion (+16% year-over-year); operating profit: JPY 24.7 billion (+19.2% year-over-year); gross profit: JPY 183.2 billion (+14.5% year-over-year); gross margin: 78.2%.

• R&D expenses: JPY 43.7 billion (+12.7% year-over-year); SG&A expenses: JPY 114.8 billion (+14.6% year-over-year), mainly due to profit-sharing and campaign investments.

• Profit attributable to owners: JPY 18.2 billion (+26% year-over-year); EPS: JPY 64.71 (+13.37 year-over-year).

• Forex contributed JPY 18.9 billion to revenue and JPY 1.38 billion to operating profit.

• Cash and cash equivalents at period-end were JPY 311.7 billion, up JPY 66.3 billion from March 2026.

Outlook and guidance

• On track to achieve full-year forecasts for revenue and profit, with FY2026 revenue forecast at JPY 883.5 billion and operating profit at JPY 70.0 billion.

• Sustained growth expected from LENVIMA, DAYVIGO, and Leqembi, with new indications and expanded reimbursement anticipated.

• Continued investment in next-generation neurology and oncology pipelines.

• No changes to previously announced guidance; forecasts assume stable FX rates.