Chugai H1 Revenue Climbs 15% to ¥663.3 Billion as Operating Profit Rises 17%; Interim Profit Up 19%

Chugai Pharmaceutical Co., Ltd. (TSE: 4519), Japan's leading research-driven drugmaker and a member of the Roche Group, reported consolidated results for the first half of the year ending December 31, 2026 under IFRS. Revenue rose 14.7% to ¥663,331 million, operating profit rose 16.9% to ¥319,623 million, and interim profit attributable to owners of the parent rose 19.2% to ¥231,749 million. Basic earnings per share were ¥140.82, up from ¥118.13.

Royalties and exports drive growth

Growth was led by overseas revenue — royalty income and product exports to Roche — alongside firm domestic demand for the company's specialty medicines. The operating margin expanded to about 48%, and interim comprehensive income jumped 39.8% to ¥247,467 million.

Core earnings

On the Core basis Chugai uses to manage the business, Core operating profit was ¥329,141 million, Core net profit ¥238,365 million and Core EPS ¥144.84. Core figures adjust IFRS results for items the company treats as non-recurring.

Strong balance sheet

Total assets were ¥2.45 trillion and total equity ¥2,027,663 million, with equity attributable to owners at 82.8% of assets — a debt-light balance sheet typical of the company.

Guidance and dividend

Chugai left its full-year Core guidance unchanged, expecting revenue of ¥1.345 trillion (+6.9%), Core operating profit of ¥670 billion (+7.5%), Core net profit of ¥485 billion (+7.5%) and Core EPS of ¥295.00, for a Core payout ratio of 44.7%. It pays an interim dividend of ¥66.00 and forecasts a matching ¥66.00 year-end dividend, ¥132.00 for the year. The prior year's ¥272.00 total had included 100th-anniversary commemorative dividends on top of a ¥122.00 ordinary payout.

JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.