Takeda Raises Full-Year Profit Forecast on Weaker Yen

Takeda Pharmaceutical Co., Asia’s largest drugmaker, forecast full-year profit will fall less than it earlier projected, as a weaker yen boosts the value of overseas sales.

Net income will probably drop 24 percent to 100 billion yen ($986 million) from a year earlier, Takeda said in a statement today. Sales will rise 8.5 percent to 1.69 trillion yen from a year earlier, it said. The figures compare with analysts’ projection for profit of 108 billion yen and revenue of 1.67 trillion yen, according to the average of 16 estimates compiled by Bloomberg.

Takeda predicted in July last year that net income would fall 28 percent to 95 billion yen in the year ending March 31, and sales would gain 7.9 percent to 1.68 trillion yen.

Takeda rose 0.8 percent to close at 4,692 yen in Tokyo trading before the company’s forecast revision. Shares of the Osaka, Japan-based drugmaker have fallen 2.8 percent this year, after gaining 25 percent in 2013.

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