Three key drugs grow in every region
Eisai Co., Ltd. (TSE: 4523) reported consolidated results under IFRS for the first half of FY3/2027, April 1 to September 30, 2026, on November 10, 2026. Core operating profit, which excludes one-off items, rose 28.6% to ¥43.1 billion. Selling, general and administrative expenses rose on profit-sharing payments to Merck & Co. as Lenvima grew and on heavy spending behind Leqembi, and research and development spending increased on priority projects such as the anti-MTBR tau antibody E2814 and the orexin-2 receptor agonist E2086.
The Americas segment lifted revenue 26.5% to ¥179.2 billion and segment profit 55.6% to ¥46.6 billion, with Leqembi up 69.8% to ¥32.7 billion; in August Eisai launched LEQEMBI IQLIK, a subcutaneous autoinjector, in the U.S. as an initiation therapy. China revenue rose 24.7% to ¥82.6 billion, EMEA 12.6% to ¥43.7 billion, and East Asia and Global South 17.0% to ¥39.9 billion, where Leqembi sales grew 170.8% after launches in Brazil, India and Malaysia. Japan revenue rose 3.7% to ¥116.7 billion. Leqembi was also launched in Luxembourg, Australia, Spain and Sweden during the half.
Guidance and dividend unchanged
Eisai kept its FY3/2027 forecast of revenue of ¥883,500 million (+7.0%), operating profit of ¥70,000 million (+58.6%) and net profit attributable to owners of ¥52,300 million (+35.6%). The dividend is unchanged at ¥80 interim and a planned ¥80 at year-end, for ¥160. Total assets rose 5.2% to ¥1,524,603 million, and the equity ratio was 58.8%.
| Metric | H1 FY3/2027 | H1 FY3/2026 | Change |
|---|---|---|---|
| Revenue (¥ million) | 469,961 | 400,013 | +17.5% |
| Operating profit (¥ million) | 41,429 | 34,418 | +20.4% |
| Pre-tax profit (¥ million) | 41,633 | 36,936 | +12.7% |
| Net profit attrib. to owners of parent (¥ million) | 29,931 | 24,630 | +21.5% |
| Comprehensive income (¥ million) | 21,852 | 37,341 | -41.5% |
| EPS (¥) | 106.18 | 87.37 | +21.5% |
| Core operating profit (¥100 million) | 431 | — | +28.6% |
| Lenvima revenue (¥100 million) | 1,948 | — | +17.0% |
| Leqembi revenue (¥100 million) | 615 | — | +49.7% |
| Dayvigo revenue (¥100 million) | 395 | — | +35.7% |
| Total assets (¥ million) | 1,524,603 | 1,449,113 | +5.2% |
| Equity attrib. to owners of parent (¥ million) | 896,853 | 898,992 | -0.2% |
| Equity ratio | 58.8% | 62.0% | -3.2 pt |
| FY3/2027 guidance — revenue (¥ million) | 883,500 | — | +7.0% |
| FY3/2027 guidance — operating profit (¥ million) | 70,000 | — | +58.6% |
| FY3/2027 guidance — net profit (¥ million) | 52,300 | — | +35.6% |
| Annual dividend per share (¥) | 160.00 | 160.00 | unchanged |
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.