Kobayashi Pharmaceutical reports lower first-quarter net profit
Updated
Updated · MarketWatch · May 8
Kobayashi Pharmaceutical reports lower first-quarter net profit
6 articles · Updated · MarketWatch · May 8
Net profit fell to Y1.04 billion for the quarter ended 31 March, from Y1.62 billion a year earlier, while revenue rose to Y33.67 billion from Y32.61 billion.
Operating profit dropped to Y1.35 billion from Y2.54 billion, pretax profit declined to Y1.67 billion from Y2.40 billion, and earnings per share fell to Y13.95 from Y21.86.
The Japanese drugmaker said the results were prepared under Japanese accounting standards, showing weaker profitability despite higher sales in the latest quarter.
With profits falling despite rising sales, is Kobayashi's costly recovery from its deadly supplement scandal actually working?
After its fatal recall, can a new CEO and board truly fix the culture of a 100-year-old family-run firm?