Announcement • Jun 01
Sawai Group Holdings Co., Ltd. to Report Q1, 2027 Results on Aug 10, 2026 Sawai Group Holdings Co., Ltd. announced that they will report Q1, 2027 results at 1:00 PM, Tokyo Standard Time on Aug 10, 2026 Live News • May 23
Sawai Group Boosts Profit and Dividend With Renewed Focus on Domestic Generics Sawai Group reported higher revenue and a sharp improvement in operating profit, while headline profit was affected by prior discontinued operations.
The company raised its dividend, signaling a willingness to return more cash to shareholders.
Management is refocusing on the core domestic generics business and is projecting strong profit growth by the fiscal year ending March 31, 2027, including significant increases in operating profit and net profit attributable to owners of the parent.
The refocus on domestic generics, together with rising operating profitability, points to a clearer business profile and tighter cost and capital allocation discipline.
Investors may want to pay close attention to execution on the 2027 profit targets and to any changes in dividend policy if earnings or cash flow differ from the company’s current projections. Reported Earnings • May 20
Full year 2026 earnings: EPS misses analyst expectations Full year 2026 results: EPS: JP¥99.91 (up from JP¥17.53 in FY 2025). Revenue: JP¥201.7b (up 6.7% from FY 2025). Net income: JP¥11.5b (up 431% from FY 2025). Profit margin: 5.7% (up from 1.1% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to JP¥1,742, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 14x in the Pharmaceuticals industry in Japan. Total returns to shareholders of 51% over the past three years. Announcement • May 15
Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 25, 2026 Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 25, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥28.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 26 June 2026. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.4%). Announcement • Feb 20
Sawai Group Holdings Co., Ltd. to Report Fiscal Year 2026 Results on May 15, 2026 Sawai Group Holdings Co., Ltd. announced that they will report fiscal year 2026 results at 3:00 PM, Tokyo Standard Time on May 15, 2026 Reported Earnings • Feb 14
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: JP¥42.21 (down from JP¥53.20 in 3Q 2025). Revenue: JP¥56.0b (up 1.2% from 3Q 2025). Net income: JP¥4.87b (down 24% from 3Q 2025). Profit margin: 8.7% (down from 12% in 3Q 2025). Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 29%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 22% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Dec 02
First half dividend of JP¥28.00 announced Shareholders will receive a dividend of JP¥28.00. Ex-date: 30th March 2026 Payment date: 26th June 2026 Dividend yield will be 2.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 10x earnings) and the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 1,037% to bring the payout ratio under control. EPS is expected to grow by 107% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Nov 27
Sawai Group Holdings Co., Ltd. to Report Q3, 2026 Results on Feb 13, 2026 Sawai Group Holdings Co., Ltd. announced that they will report Q3, 2026 results at 1:00 PM, Tokyo Standard Time on Feb 13, 2026 New Risk • Nov 17
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Dividend per share is over 10x earnings per share. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.9% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Dividend per share is over 10x earnings per share. Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Reported Earnings • Nov 17
Second quarter 2026 earnings: EPS misses analyst expectations Second quarter 2026 results: EPS: JP¥9.98 (down from JP¥30.03 in 2Q 2025). Revenue: JP¥49.3b (up 13% from 2Q 2025). Net income: JP¥1.15b (down 70% from 2Q 2025). Profit margin: 2.3% (down from 8.8% in 2Q 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 76%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Announcement • Oct 21
Sawai Pharmaceutical Co., Ltd. Announces Settlement of Lawsuit Sawai Group Holdings Co., Ltd. announced that Sawai Pharmaceutical Co., Ltd. has reached a settlement dated October 20, 2025, with Asahi Kasei Pharma Corporation regarding a patent infringement lawsuit concerning TERIPARATIDE for Subcutaneous Injection 56.5ug. Sawai Pharmaceutical had been requested by Asahi Kasei Pharma to cease the manufacturing and sale of its generic teriparatide product and to pay damages for patent infringement, based on the process patent (Patent No. 6025881) related to Teribone 56.5 ug for subcutaneous injection. Sawai Pharmaceutical's claim was not upheld, and on September 26, 2024, The Osaka District Court issued an order preventing the manufacture and sale of the product using the patented method in question and requiring the payment of damages. An appeal was filed with the Intellectual Property High Court of Japan (hereinafter the "IP High Court") against this ruling; however, after carefully considering the overall terms of the settlement, Sawai Pharmaceutical determined that resolving the matter through settlement was a reasonable course of action and reached an agreement accordingly. Sawai Pharmaceutical paid Asahi Kasei Pharma JPY 4 billion yen as a settlement, and Asahi Kasei Pharma waived any other claims against Sawai Pharmaceutical. Details of the settlement will not be disclosed due to confidentiality obligations contained in the settlement terms. Buy Or Sell Opportunity • Oct 01
Now 21% undervalued Over the last 90 days, the stock has risen 6.5% to JP¥1,931. The fair value is estimated to be JP¥2,431, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 29 September 2025. Payment date: 02 December 2025. Payout ratio is a comfortable 46% but the company is not cash flow positive. Trailing yield: 2.7%. Lower than top quartile of Japanese dividend payers (3.6%). In line with average of industry peers (2.7%). Buy Or Sell Opportunity • Aug 20
Now 21% undervalued Over the last 90 days, the stock has risen 4.8% to JP¥1,934. The fair value is estimated to be JP¥2,438, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 4.8% per annum. Earnings are also forecast to grow by 11% per annum over the same time period. Announcement • Aug 19
Sawai Group Holdings Co., Ltd. to Report Q2, 2026 Results on Nov 14, 2025 Sawai Group Holdings Co., Ltd. announced that they will report Q2, 2026 results at 3:00 PM, Tokyo Standard Time on Nov 14, 2025 Reported Earnings • Aug 13
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: JP¥42.06 (up from JP¥30.87 in 1Q 2025). Revenue: JP¥49.5b (up 12% from 1Q 2025). Net income: JP¥4.86b (up 20% from 1Q 2025). Profit margin: 9.8% (in line with 1Q 2025). Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) missed analyst estimates by 49%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 80% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 09
Final dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 29th September 2025 Payment date: 2nd December 2025 Dividend yield will be 2.9%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is not covered by earnings (302% earnings payout ratio) nor is it covered by cash flows (dividend approximately 18x free cash flows). The dividend has increased by an average of 5.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 236% to bring the payout ratio under control. EPS is expected to grow by 92% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. New Risk • Jul 03
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 302% Dividend per share is over 18x cash flows per share. Dividend yield: 3.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 302% Dividend per share is over 18x cash flows per share. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.1% net profit margin). Announcement • Jul 02
Sawai Group Holdings Co., Ltd. (TSE:4887) completed the acquisition of FrontAct Co., Ltd. from Sumitomo Pharma Co., Ltd. (TSE:4506). Sawai Group Holdings Co., Ltd. (TSE:4887) agreed to acquire FrontAct Co., Ltd. from Sumitomo Pharma Co., Ltd. (TSE:4506) on March 28, 2025.
The expected completion of the transaction is June 30, 2025.
Sawai Group Holdings Co., Ltd. (TSE:4887) completed the acquisition of FrontAct Co., Ltd. from Sumitomo Pharma Co., Ltd. (TSE:4506) on June 30, 2025. Reported Earnings • Jun 29
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥17.53 (down from JP¥131 in FY 2024). Revenue: JP¥189.0b (up 6.9% from FY 2024). Net income: JP¥2.17b (down 87% from FY 2024). Profit margin: 1.1% (down from 9.7% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Jun 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. External Independent Director Masayuki Mitsuka was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 02
Sawai Group Holdings Co., Ltd. to Report Q1, 2026 Results on Aug 12, 2025 Sawai Group Holdings Co., Ltd. announced that they will report Q1, 2026 results at 1:00 PM, Tokyo Standard Time on Aug 12, 2025 Reported Earnings • May 18
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: JP¥106 (down from JP¥131 in FY 2024). Revenue: JP¥189.0b (up 6.9% from FY 2024). Net income: JP¥13.1b (down 24% from FY 2024). Profit margin: 7.0% (down from 9.7% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 21%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 92% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Announcement • May 14
Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 25, 2025 Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 25, 2025. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥27.00 per share Eligible shareholders must have bought the stock before 28 March 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.7%). In line with average of industry peers (2.6%). Price Target Changed • Mar 05
Price target increased by 7.9% to JP¥2,530 Up from JP¥2,344, the current price target is an average from 10 analysts. New target price is 20% above last closing price of JP¥2,114. Stock is up 2.5% over the past year. The company is forecast to post earnings per share of JP¥234 for next year compared to JP¥131 last year. Announcement • Mar 01
Sawai Group Holdings Co., Ltd. to Report Fiscal Year 2025 Results on May 14, 2025 Sawai Group Holdings Co., Ltd. announced that they will report fiscal year 2025 results on May 14, 2025 Declared Dividend • Dec 03
First half dividend of JP¥27.00 announced Shareholders will receive a dividend of JP¥27.00. Ex-date: 28th March 2025 Payment date: 26th June 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.3%. Sustainability & Growth Dividend is covered by earnings (38% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 5.7% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 30
Sawai Group Holdings Co., Ltd. to Report Q3, 2025 Results on Feb 14, 2025 Sawai Group Holdings Co., Ltd. announced that they will report Q3, 2025 results on Feb 14, 2025 Upcoming Dividend • Sep 20
Upcoming dividend of JP¥78.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 2.6%. Lower than top quartile of Japanese dividend payers (3.8%). Higher than average of industry peers (2.3%). Announcement • Aug 28
Sawai Group Holdings Co., Ltd. to Report Q2, 2025 Results on Nov 11, 2024 Sawai Group Holdings Co., Ltd. announced that they will report Q2, 2025 results on Nov 11, 2024 Reported Earnings • Aug 13
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: JP¥92.60 (up from JP¥80.34 in 1Q 2024). Revenue: JP¥44.3b (down 16% from 1Q 2024). Net income: JP¥4.06b (up 15% from 1Q 2024). Profit margin: 9.1% (up from 6.6% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) exceeded analyst estimates by 22%. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 11
Final dividend of JP¥78.00 announced Shareholders will receive a dividend of JP¥78.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 2.1%, which is lower than the industry average of 2.3%. Sustainability & Growth The dividend has increased by an average of 5.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Jun 25
Sawai Group Holdings Co., Ltd. (TSE:4887) announces an Equity Buyback for 6,900,000 shares, representing 15.75% for ¥33,000 million. Sawai Group Holdings Co., Ltd. (TSE:4887) announces a share repurchase program. Under the program, the company will repurchase up to 6,900,000 shares, representing 15.75% of its share capital, for ¥33,000 million. The purpose of the program is capital efficiency improvement and improve shareholder return. The program will expire on March 31, 2025. As of May 31, 2024, the company had 43,802,973 shares in issue (excluding treasury stock) and 366 shares in treasury. Announcement • Jun 06
Sawai Group Holdings Co., Ltd. to Report Q1, 2025 Results on Aug 09, 2024 Sawai Group Holdings Co., Ltd. announced that they will report Q1, 2025 results on Aug 09, 2024 Major Estimate Revision • May 20
Consensus EPS estimates increase by 24% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from JP¥456 to JP¥564. Revenue forecast steady at JP¥201.6b. Net income forecast to grow 82% next year vs 7.2% growth forecast for Pharmaceuticals industry in Japan. Consensus price target up from JP¥6,780 to JP¥6,980. Share price rose 8.1% to JP¥6,105 over the past week. Reported Earnings • May 16
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: JP¥393 (up from JP¥289 in FY 2023). Revenue: JP¥176.9b (down 12% from FY 2023). Net income: JP¥17.2b (up 36% from FY 2023). Profit margin: 9.7% (up from 6.3% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 8.6%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • May 15
Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 25, 2024 Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 25, 2024. Announcement • Apr 03
Bora Pharmaceuticals Co., LTD. (TWSE:6472) completed the acquisition of Sawai America Holdings Inc. from Sawai Group Holdings Co., Ltd. (TSE:4887). Bora Pharmaceuticals Co., LTD. (TWSE:6472) agreed to acquire Sawai America Holdings Inc. from Sawai Group Holdings Co., Ltd. (TSE:4887) for approximately $210 million on January 16, 2024.The closing of the transaction is subject to customary regulatory approvals, United States antitrust authorities and in accordance with other laws and regulations. As of January 17, 2024, Trading value of equity interest $160 million and $8 million upon the achievement of the conditions of Earnout, and the equivalent of $40 million value from Upsher-Smith separately through dividends or a repurchase of SAH shares held by Sawai Group. The expected closing date of the transaction is March 17, 2024. BDO Taiwan CPA Firm acted as accountant to Bora Pharmaceuticals. Stifel Financial Corp. (NYSE:SF) acted financial advisor to Sawai Group Holdings Co., Ltd. Andrew L. Bab, Rafael Kariyev, Peter F.G. Schuur, Henry Lebowitz, Paul D. Rubin, Melissa Runsten, Kim T. Le, M. Natasha Labovitz, Sidney P. Levinson of Debevoise & Plimpton LLP and Katten Muchin Rosenman LLP both acted as legal advisor to Sawai Group Holdings Co., Ltd.Bora Pharmaceuticals Co., LTD. (TWSE:6472) completed the acquisition of Sawai America Holdings Inc. from Sawai Group Holdings Co., Ltd. (TSE:4887) on April 1, 2024. Buy Or Sell Opportunity • Mar 25
Now 21% undervalued Over the last 90 days, the stock has risen 21% to JP¥6,038. The fair value is estimated to be JP¥7,679, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are also forecast to grow by 1.4% per annum over the same time period. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Trailing yield: 2.1%. Lower than top quartile of Japanese dividend payers (3.2%). In line with average of industry peers (2.3%). Major Estimate Revision • Mar 02
Consensus EPS estimates increase by 11%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥210.0b to JP¥206.4b. EPS estimate rose from JP¥393 to JP¥437. Net income forecast to shrink 3.0% next year vs 12% growth forecast for Pharmaceuticals industry in Japan . Consensus price target up from JP¥5,902 to JP¥6,080. Share price was steady at JP¥5,853 over the past week. Announcement • Mar 02
Sawai Group Holdings Co., Ltd. to Report Q4, 2024 Results on May 13, 2024 Sawai Group Holdings Co., Ltd. announced that they will report Q4, 2024 results on May 13, 2024 Major Estimate Revision • Feb 21
Consensus EPS estimates increase by 40%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from JP¥213.8b to JP¥210.6b. EPS estimate rose from JP¥280 to JP¥393. Net income forecast to shrink 7.9% next year vs 14% growth forecast for Pharmaceuticals industry in Japan . Consensus price target broadly unchanged at JP¥5,902. Share price fell 3.6% to JP¥5,914 over the past week. Buy Or Sell Opportunity • Feb 21
Now 21% undervalued Over the last 90 days, the stock has risen 18% to JP¥5,914. The fair value is estimated to be JP¥7,454, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings are also forecast to grow by 2.7% per annum over the same time period. Reported Earnings • Feb 18
Third quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2024 results: EPS: JP¥168 (up from JP¥95.57 in 3Q 2023). Revenue: JP¥48.7b (down 11% from 3Q 2023). Net income: JP¥7.35b (up 76% from 3Q 2023). Profit margin: 15% (up from 7.7% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 46%. Earnings per share (EPS) exceeded analyst estimates by 21%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Price Target Changed • Feb 01
Price target increased by 12% to JP¥5,863 Up from JP¥5,252, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of JP¥5,644. Stock is up 43% over the past year. The company is forecast to post earnings per share of JP¥280 for next year compared to JP¥289 last year. Price Target Changed • Jan 22
Price target increased by 7.3% to JP¥5,586 Up from JP¥5,208, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of JP¥5,682. Stock is up 45% over the past year. The company is forecast to post earnings per share of JP¥280 for next year compared to JP¥289 last year. Major Estimate Revision • Jan 22
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from JP¥219.2b to JP¥213.8b. EPS estimate also fell from JP¥317 per share to JP¥280 per share. Net income forecast to shrink 3.4% next year vs 7.8% growth forecast for Pharmaceuticals industry in Japan . Consensus price target up from JP¥5,208 to JP¥5,586. Share price rose 4.3% to JP¥5,682 over the past week. Announcement • Nov 27
Sawai Group Holdings Co., Ltd. to Report Q3, 2024 Results on Feb 14, 2024 Sawai Group Holdings Co., Ltd. announced that they will report Q3, 2024 results on Feb 14, 2024 Announcement • Nov 11
Sawai Group Holdings Co., Ltd. Provides Dividend Guidance for the Fiscal Year Ending March 31, 2024 Sawai Group Holdings Co., Ltd. provided dividend guidance for the fiscal year ending March 31, 2024. For the year-end, the company expects to pay dividend of JPY 65.00 per share against JPY 65.00 per share paid a year ago. Reported Earnings • Nov 11
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: JP¥112 (up from JP¥68.23 in 2Q 2023). Revenue: JP¥53.8b (up 12% from 2Q 2023). Net income: JP¥4.93b (up 65% from 2Q 2023). Profit margin: 9.2% (up from 6.2% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 53%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Nov 11
Sawai Group Holdings Co., Ltd. Provides Consolidated Earnings Guidance for the Fiscal Year Ending March 31, 2024 Sawai Group Holdings Co., Ltd. provided consolidated earnings guidance for the fiscal year ending March 31, 2024. For the year, the company expects sales to be JPY 217,200 million. Operating profit to be JPY 15,100 million. Profit attributable to owners of parent to be JPY 11,300 million. Basic earnings per share to be JPY 257.99. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥65.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 04 December 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 2.8%. Lower than top quartile of Japanese dividend payers (3.3%). Higher than average of industry peers (2.2%). Price Target Changed • Sep 20
Price target increased by 9.9% to JP¥4,734 Up from JP¥4,308, the current price target is an average from 8 analysts. New target price is approximately in line with last closing price of JP¥4,565. Stock is up 13% over the past year. The company is forecast to post earnings per share of JP¥303 for next year compared to JP¥289 last year. Announcement • Aug 27
Sawai Group Holdings Co., Ltd. to Report Q2, 2024 Results on Nov 10, 2023 Sawai Group Holdings Co., Ltd. announced that they will report Q2, 2024 results on Nov 10, 2023 Price Target Changed • Aug 22
Price target increased by 7.5% to JP¥4,308 Up from JP¥4,008, the current price target is an average from 9 analysts. New target price is approximately in line with last closing price of JP¥4,420. Stock is up 4.2% over the past year. The company is forecast to post earnings per share of JP¥296 for next year compared to JP¥289 last year. Reported Earnings • Aug 10
First quarter 2024 earnings: EPS misses analyst expectations First quarter 2024 results: EPS: JP¥80.34 (down from JP¥83.85 in 1Q 2023). Revenue: JP¥53.0b (up 9.9% from 1Q 2023). Net income: JP¥3.52b (down 4.2% from 1Q 2023). Profit margin: 6.6% (down from 7.6% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 19
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from JP¥321 to JP¥287 per share. Revenue forecast steady at JP¥217.2b. Net income forecast to shrink 0.3% next year vs 8.3% growth forecast for Pharmaceuticals industry in Japan . Consensus price target broadly unchanged at JP¥4,052. Share price was steady at JP¥3,513 over the past week. Major Estimate Revision • Jun 09
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from JP¥299 to JP¥341. Revenue forecast unchanged at JP¥219.3b. Net income forecast to grow 20% next year vs 9.7% growth forecast for Pharmaceuticals industry in Japan. Consensus price target of JP¥4,130 unchanged from last update. Share price was steady at JP¥3,289 over the past week. Announcement • May 31
Sawai Group Holdings Co., Ltd. to Report Q1, 2024 Results on Aug 09, 2023 Sawai Group Holdings Co., Ltd. announced that they will report Q1, 2024 results on Aug 09, 2023 Reported Earnings • May 16
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: EPS: JP¥289 (up from JP¥646 loss in FY 2022). Revenue: JP¥200.3b (up 3.4% from FY 2022). Net income: JP¥12.7b (up JP¥40.9b from FY 2022). Profit margin: 6.3% (up from net loss in FY 2022). The move to profitability was primarily driven by lower expenses. Revenue missed analyst estimates by 1.6%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Announcement • May 11
Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 27, 2023 Sawai Group Holdings Co., Ltd., Annual General Meeting, Jun 27, 2023. Price Target Changed • Mar 24
Price target decreased by 9.2% to JP¥4,169 Down from JP¥4,591, the current price target is an average from 8 analysts. New target price is 15% above last closing price of JP¥3,640. Stock is down 21% over the past year. The company is forecast to post earnings per share of JP¥376 next year compared to a net loss per share of JP¥646 last year. Reported Earnings • Feb 14
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: JP¥95.57 (down from JP¥148 in 3Q 2022). Revenue: JP¥54.7b (up 6.5% from 3Q 2022). Net income: JP¥4.19b (down 35% from 3Q 2022). Profit margin: 7.7% (down from 13% in 3Q 2022). Revenue missed analyst estimates by 2.2%. Earnings per share (EPS) also missed analyst estimates by 61%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Announcement • Nov 30
Sawai Group Holdings Co., Ltd. to Report Q3, 2023 Results on Feb 13, 2023 Sawai Group Holdings Co., Ltd. announced that they will report Q3, 2023 results on Feb 13, 2023 Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Full-time Audit & Supervisory Board Member Tadao Tsubokura is the most experienced director on the board, commencing their role in 2021. Independent External Director Masatoshi Ohara was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 10
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: JP¥68.23 (down from JP¥71.11 in 2Q 2022). Revenue: JP¥48.2b (up 2.9% from 2Q 2022). Net income: JP¥2.99b (down 4.0% from 2Q 2022). Profit margin: 6.2% (down from 6.7% in 2Q 2022). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) also missed analyst estimates by 22%. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Pharmaceuticals industry in Japan. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥65.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 05 December 2022. Trailing yield: 3.2%. Lower than top quartile of Japanese dividend payers (3.7%). Higher than average of industry peers (2.3%). Announcement • Aug 31
Sawai Group Holdings Co., Ltd. to Report Q2, 2023 Results on Nov 08, 2022 Sawai Group Holdings Co., Ltd. announced that they will report Q2, 2023 results on Nov 08, 2022 Price Target Changed • Aug 30
Price target increased to JP¥4,630 Up from JP¥4,325, the current price target is an average from 9 analysts. New target price is 10.0% above last closing price of JP¥4,210. Stock is down 15% over the past year. The company is forecast to post a net loss per share of JP¥98.78 compared to earnings per share of JP¥282 last year. Price Target Changed • Jun 16
Price target decreased to JP¥4,561 Down from JP¥5,077, the current price target is an average from 10 analysts. New target price is 19% above last closing price of JP¥3,820. Stock is down 22% over the past year. The company is forecast to post a net loss per share of JP¥98.78 compared to earnings per share of JP¥282 last year. Announcement • May 31
Sawai Group Holdings Co., Ltd. to Report Q1, 2023 Results on Aug 12, 2022 Sawai Group Holdings Co., Ltd. announced that they will report Q1, 2023 results on Aug 12, 2022 
