Domestic growth and a pulled-forward quarter
Chugai Pharmaceutical Co., Ltd. (TSE: 4519) reported consolidated results for the first nine months of FY12/2026, January 1 to September 30, 2026, on October 27, 2026 under IFRS. Product sales rose 14.1% to about ¥906.8 billion. Domestic product sales grew 18.2% to about ¥406.3 billion despite NHI price revisions and generic erosion, as Polivy, Hemlibra and Vabysmo grew and the new products Lunsumio and Elevidys gained ground; the company also brought forward shipments to wholesalers into the July–September quarter ahead of a new ERP system going live, which lifted domestic sales. Oncology grew 13.3% to about ¥204.8 billion and the specialty area 23.6% to about ¥201.5 billion. Overseas product sales rose 11.0% to about ¥500.5 billion on sharply higher NEMLUVIO exports to Galderma and higher Alecensa exports to Roche.
Royalties lift margins; costs and pipeline
Other revenue rose 37.7% to about ¥161.3 billion on higher Hemlibra and NEMLUVIO royalties and more one-time income. The cost-of-sales ratio on products rose 1.6 points to 34.7% on product mix, and Core research and development costs rose 9.6% to about ¥141.2 billion, or 13.2% of revenue. IFRS results include ¥1.9 billion of intangible-asset amortization and ¥11.6 billion of restructuring and other costs that the Core figures exclude; Core net profit rose 20.2% to about ¥384.7 billion. During the period Lunsumio won an added approval with Polivy in relapsed or refractory large B-cell lymphoma, Alecensa an approval in ALK fusion-positive solid tumors, and filings were made for giredestrant (RG6171) in breast cancer and sparsentan in IgA nephropathy.
Balance sheet, forecast and dividend
Total assets fell 3.8% to ¥2,374,320 million from December, while equity attributable to owners of the parent rose 3.1% to ¥2,088,536 million, lifting the ratio to 88.0% from 82.1%. The company kept its Core forecast for FY12/2026 of revenue of ¥1,345,000 million (+6.9%), Core operating profit of ¥670,000 million (+7.5%), Core net profit of ¥485,000 million (+7.5%) and Core EPS of ¥295.00. It paid an interim dividend of ¥66 and plans ¥66 at year end, for an annual ¥132; FY12/2025's ¥272 included ¥150 of centenary commemorative dividends, against ¥122 of ordinary dividends.
| Metric | 9M FY12/2026 | 9M FY12/2025 | Change |
|---|---|---|---|
| Revenue (¥ million) | 1,068,074 | 911,640 | +17.2% |
| Operating profit (¥ million) | 522,570 | 429,827 | +21.6% |
| Net profit attrib. to owners of parent (¥ million) | 375,302 | 305,602 | +22.8% |
| EPS (¥) | 228.07 | 185.70 | +22.8% |
| Total assets (¥ million) | 2,374,320 | 2,468,595 | −3.8% |
| Equity attrib. to owners of parent (¥ million) | 2,088,536 | 2,025,732 | +3.1% |
| Equity ratio | 88.0% | 82.1% | +5.9 pt |
| FY12/2026 guidance — revenue (¥ million) | 1,345,000 | — | +6.9% |
| FY12/2026 guidance — core operating profit (¥ million) | 670,000 | — | +7.5% |
| Annual dividend per share (¥) | 132.00 | 272.00 | −51.5% |
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