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Takeda remains robust

Japanese firm posts strong net income but falling revenues for Q1 as the strength of the yen takes its toll

Takeda has posted a strong net income of 112.6bn yen ($1.2bn) for the first quarter, up from 2.5bn yen ($26m) in the same reporting period last year and some 30.1bn yen above analysts' expectations.

In the three months ended June 30, the Japanese company saw sales of a number of its leading products fall due to the strength of the yen. Revenue from type 2 diabetes treatment Actos fell 6.6 per cent to 96.4bn yen ($1bn), while sales of Takepron dropped 2.6 per cent to 70.5bn yen ($736m) and Blopress revenues fell 5.5 per cent to 56.6bn yen ($591m). Net sales for the period fell 4.5 per cent (17.9bn yen) to 379bn yen ($4bn).

Daiichi suffers loss
Japan's third-largest manufacturer, Daiichi Sankyo has reported a loss of 6.4bn yen ($67m) in the three months to June 30 compared with a net income of 25.1bn yen ($263m) for the first quarter of 2008.

The company's quarterly sales were up 11.5 per cent to 227.1bn yen ($2.4bn), of which 29.6bn yen ($310m) came from Ranbaxy of which Daiichi Sankyo is a majority shareholder.

Ordinary income has been upwardly revised to 37bn yen ($389m) from 20bn yen ($210m) and net income has been upwardly revised to 11bn yen ($115m), up 3bn yen ($31.5m). The earnings forecast for the full fiscal year remain unchanged.

3rd August 2009

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