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Otsuka sees H1 profit fall 14.5% YOY; confirms FY'17 outlook

Otsuka Holdings Co., Ltd. reported consolidated profit attributable to shareholders for the first half of fiscal year 2017 of ¥42.43 billion, or ¥78.04 per share, down 14.5% from ¥49.61 billion, or ¥91.56 per share, in the year-ago period.

Net sales for the half reached ¥595.36 billion, up from ¥587.65 billion in 2016.

Otsuka's operating profit for the half fell 39.8% year over year to ¥49.51 billion from ¥82.28 billion. The company booked ¥80.77 billion in research and development costs for the six months ended June 30, with the pharmaceutical business accounting for ¥76.03 billion of R&D costs.

The Japanese drugmaker confirmed its full-year outlook, expecting ¥85 billion, or ¥156.87 per share, in profit attributable to shareholders, and ¥1.260 trillion in net sales.

As of Aug. 7, US$1 was equivalent to ¥110.84.