2024-02-01 21:45:05 ET
Daiichi Sankyo Company, Limited (DSKYF)
Q3 2023 Earnings Conference Call
January 31, 2024, 02:00 AM ET
Company Participants
Koji Ogawa - Head of Global Corporate Planning & Management, CFO
Wataru Takasaki - Head of Japan R&D
Conference Call Participants
Hidemaru Yamaguchi - Citigroup Securities
Seiji Wakao - JPMorgan Securities
Kasumi Haruta - UBS
Shinichiro Muraoka - Morgan Stanley MUFG
Koichi Mamegano - BOA Securities
Presentation
Koji Ogawa
Ogawa speaking. Thank you very much for joining Daiichi Sankyo's Financial Results Presentation out of your very busy schedule today. I am going to explain FY 2023 Third Quarter Financial Results we announced at 1 p.m. on Wednesday, January 31, JST, based on our presentation materials.
Please turn to Page 3. This is the agenda for today. We will cover FY 2023 third quarter consolidated financial results, FY 2023 forecast and annual dividend forecast, business update and R&D update in that order. R&D update will be explained by Wataru Takasaki, Head of Japan R&D. We will entertain your questions at the end.
Please turn to Page 4. This is an overview of FY 2023 third quarter consolidated results. Revenue increased by ¥225 billion or 23.7% year-on-year to reach ¥1,173.3 billion. Cost of sales increased by ¥52.9 billion from the previous year.
SG&A expenses rose by ¥103.1 billion and R&D expenditure increased by ¥15.1 billion year-on-year. As a result, co-operating profit increased by ¥53.9 billion or 45.5% year-on-year to reach ¥172.2 billion.
Operating profit including temporary gains and losses, increased by ¥67.4 billion or 53% year-on-year to ¥194.6 billion. Profit attributable to owners of the company increased by ¥76.9 billion or 88.7% year-on-year to reach ¥163.6 billion. As for the actual currency rates, the U.S. dollar was ¥143.29. The yen depreciated by ¥6.76 year-on-year. The euro was ¥155.28. The yen depreciated by ¥14.68.
Please turn to Page 5. From here, let me explain positive and negative factors for revenue, compared to the previous year. Revenue increased by ¥225 billion year-on-year. I will explain its breakdown by business unit. First, in Japan business, revenue increased by ¥57.9 billion as sales increased for anti-influenza viral agent Inavir, direct oral anticoagulant Lixiana, anti-cancer agent ENHERTU, pain treatment Tarlige, and also for vaccine business including COVID-19 vaccine DAICHIRONA, which I will explain later....
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Daiichi Sankyo Company, Limited (DSKYF) Q3 2023 Earnings Call Transcript