Chugai Pharmaceutical Co. Ltd. saw net income attributed to shareholders fall 12.3% in full year 2016 to ¥53.59 billion, or ¥97.97 per share, down from ¥61.13 billion, or ¥111.79 per share, in 2015.

The S&P Capital IQ consensus GAAP EPS estimate for 2016 was ¥96.92.

Operating profit, on an IFRS basis, was down 11.4% to ¥76.88 billion from ¥86.78 billion in the prior year.

Revenue slumped 1.4% to ¥491.78 billion from ¥498.84 billion, due to a decrease in royalties and other operating income, the company said.

Chugai forecast positive fiscal full-year guidance for 2017. The Roche Holding Ltd. subsidiary expects core EPS to increase to ¥124.11, up from ¥102.5 in 2016.

The company projects revenue to rebound to ¥520.5 million in full year 2017. Chugai forecasts sales of Tamiflu to fall by 39.3% year on year, but anticipates growth of its oncology products and new products, and an increase in overseas sales of other products due to the weakening of the Japanese yen. It also expects an increase in one-time income and revenue from Roche co-promotion and royalties in 2017.

The fourth-quarter dividend for 2016 slipped to ¥26 per share, down from ¥32 per share in 2015. The company hopes to return to a total dividend of ¥58 per share in 2017, as recorded in 2015.

As of Feb. 1, US$1 was equivalent to ¥113.46.