Fujisawa posts 16.76 billion yen profit

Fujisawa Pharmaceutical Co. said Wednesday that its group net profit logged a year-on-year increase of 26.9 percent in the fiscal first half, boosted mainly by the strong performance of the parent company.

Fujisawa reported a consolidated net profit of 16.76 billion yen for the April-September period.

Its consolidated pretax profit came to 28.09 billion yen, up 8.7 percent, on sales of 179.45 billion yen, up 10 percent.

The results stem largely from the strong performance of the parent company, whose unconsolidated net profit logged a year-on-year rise of 69.9 percent. Its pretax profit also surged 49.4 percent on sales of 121.51 billion yen, up 14 percent.

Fujisawa said its domestic group sales of hospital medicines were buoyant, while its exports and home-care support operations were also firm.

The firm’s sales in the U.S. remained almost flat, although its European sales rose. The yen’s weakness against the dollar and the euro during the period also had a favorable effect, it said.

Fujisawa raised its interim dividend to 8 yen per share from the 6 yen offered a year earlier.

On the basis of this first-half performance, the pharmaceutical company revised the group’s full-year projections upward.

It now expects to generate a consolidated net profit of 28 billion yen and a pretax profit of 54 billion yen on sales of 380 billion yen.