bullish
Otsuka Holdings (4578 JP): Impairment Charges Bite 2023 Profit; 2024 Guidance Initiated
298 Views21 Feb 2024 09:30
SUMMARY
- Otsuka Holdings (4578 JP) ended 2023 on a mixed note. Both revenue and business profit were ahead of guidance. However, operating and net profits missed guidance, dragged by impairment loss.
- Four global pharmaceutical products as well as the nutraceuticals business led the business performance. Even after excluding the impact of foreign exchange, the business remained above plan.
- The company has guided for 6% YoY growth in 2024 revenue and business profit to ¥2,140B and ¥330B, respectively. 2024 net profit is expected to jump 106% YoY to ¥250B.
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Tina Banerjee
Global Healthcare Analyst
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