Reported Earnings • 26m
First quarter 2027 earnings released: EPS: JP¥22.39 (vs JP¥17.33 in 1Q 2026) First quarter 2027 results: EPS: JP¥22.39 (up from JP¥17.33 in 1Q 2026). Revenue: JP¥69.0b (flat on 1Q 2026). Net income: JP¥7.19b (up 22% from 1Q 2026). Profit margin: 10% (up from 8.6% in 1Q 2026). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Declared Dividend • Jul 26
Final dividend of JP¥21.00 announced Shareholders will receive a dividend of JP¥21.00. Ex-date: 29th September 2026 Payment date: 30th November 2026 Dividend yield will be 203%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (33% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 5.8% 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 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 30
Santen Pharmaceutical Co., Ltd. to Report Q1, 2027 Results on Aug 06, 2026 Santen Pharmaceutical Co., Ltd. announced that they will report Q1, 2027 results on Aug 06, 2026 Board Change • May 21
High number of new and inexperienced directors There are 8 new directors who have joined the board in the last 3 years. The company's board is composed of: 8 new directors. 1 experienced director. 1 highly experienced director. President, CEO & Representative Director Takeshi Ito is the most experienced director on the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • May 12
Santen Pharmaceutical Co., Ltd., Annual General Meeting, Jun 23, 2026 Santen Pharmaceutical Co., Ltd., Annual General Meeting, Jun 23, 2026. Aankondiging • May 09
Santen Pharmaceutical Co., Ltd. to Report Fiscal Year 2026 Results on May 12, 2026 Santen Pharmaceutical Co., Ltd. announced that they will report fiscal year 2026 results on May 12, 2026 Aankondiging • Jan 08
RVL Pharmaceuticals Announces Santen Obtains Manufacturing and Marketing Approval in Japan for UPNEEQ ®? Mini Ophthalmic Solution 0.1% RVL Pharmaceuticals Inc. and its affiliates announced Santen Pharmaceutical Co., Ltd. ("Santen"), a leading ophthalmology company has obtained the manufacturing and marketing approval in Japan for UPNEEQ®? Mini Ophthalmic Solution 0.1% (generic name:oxymetazoline hydrochloride; development code: STN1013800; hereinafter the product), a treatment for acquired blepharoptosis (low-lying eyelids). This milestone expands access in Japan to the first approved non-invasive treatment for blepharoptosis, where treatment options have primarily been limited to surgical procedures. In the U.S. market, Upneeq®? is the first and only FDA-approved prescription eye drop for acquired blepharoptOS (low-lying eyelids), and continues to demonstrate strong patient satisfaction, increased adoption, and channel diversification. The superiority of the product was demonstrated in the primary endpoint - a change from baseline at 2 hours after administration in MRD-1 (Marginal Reflex Distance-1, the margin between the upper eyelid and the center of the pupil) at Day 14 after the start of treatment--in the once-daily group versus the placebo eye drop group. In addition, an exploratory analysis showed that improvement in MRD-1 persisted for more than 8 hours after instillation. No serious adverse effects or adverse effects leading to treatment discontinuation were observed during the study. In the Phase 3 clinical trial in Japan (once-daily instillation for 6 months), no trend toward strengthening of the eyelid-lifting effect or rebound effect was observed. In this clinical study, MRD-1 was defined as the distance from the center of the pupil to the upper eyelid margin, as determined from anterior segment photographs. Upneeq®? (oxymetazoline hydrochlorides ophthalmic solution), 0.1% is a prescription eyedrop used to treat acquired blepharoptosis ("low-lying lids") in adults. The product was approved in the US by the FDA in July 2020. Low-lying lids may be related to conditions such as stroke and/or brain aneurysm, Horner syndrome, myasthenia gravis, loss of the ability to move eye muscles, eye infection and eye tumors. Tell your doctor if you have any of these conditions. UPNEEQ is a type of medication that may affect blood pressure. Upneeq®? activates a muscle in the eyelids, lifting the lid for a more open and awake look. One drop daily is clinically proven to provide visible results in as fast as 5 minutes and lasts up to 8 hours. In July 2020, Osmotica Pharmaceuticals plc (due to a company name change, currently known as RVL Pharmaceuticals Inc.), entered into an exclusive license agreement with Santen, covering the continued development, registration, and commercialization rights for RVL-1201, a 0.1% oxymetazoline hydrochloride ophthalmic solution, in Japan and certain other international markets. Santen has been developing the product as STN1013800. Aankondiging • Dec 02
Santen Pharmaceutical Co., Ltd. to Report Q3, 2026 Results on Feb 05, 2026 Santen Pharmaceutical Co., Ltd. announced that they will report Q3, 2026 results on Feb 05, 2026 Aankondiging • Nov 07
Santen Pharmaceutical Co., Ltd. Receives UK Approval for Ryjunea®? (Low-Dose Atropine 0.1 Mg/L) to Slow Progression of Childhood Myopia Santen announced that the UK Medicines and Healthcare products Regulatory Agency (MHRA) has approved Ryjunea®? (low-dose atropine 0.1 mg/ml), the first licensed treatment in the UK to slow the progression of myopia in children. The approval follows the European Commission authorisation and the first launch in Germany earlier this year, with additional launches in Europe to follow. Short-sightedness is rising fast among children in the UK, where many children now live with myopia, more than double the number from 50 years ago. Increased screen time, less outdoor activity, and intensive near work are putting a growing strain on young eyes. Globally, approximately one in three children and adolescents are expected to be affected by 2050. The first signs of myopia often appear in daily life: a child squinting to read the board, moving closer to the TV, or struggling to recognise faces at a distance. Myopia can affect learning, confidence, and participation in school and play. Early interventions are key to slowing progression and supporting children's eye health and wellbeing. Childhood myopia increases the risk of severe eye disease later in life. "A comprehensive approach, combining lifestyle habits, optical correction, and approved medical options, gives children the best chance to support healthy vision into adulthood." With over 135 years of experience in eye health, Santen is committed to advancing early intervention and collaboration in paediatric myopia, for happier lives and brighter futures. Ryjunea®? is a registered trademark of Santen Pharmaceutical Co., Ltd. Ryjunea®®? is indicated for slowing the progression of myopia in paediatric patients. Treatment may be initiated in children aged 3-14 years with a progression rate of 0.5 D or more per year and a severity of -0.5 D to -6.0 D. It is backed by the Phase III STAR study, showing that Ryjunea®? significantly reduced the annual progression of myopia with an acceptable safety and tolerability profile. As a low-dose atropine eye drop, administered once daily at bedtime, it provides a convenient way to manage myopia that integrates easily into a child's routine. The product is licensed from Sydnexis Inc. to Santen's Switzerland-based affiliate, Santen SA, for registration and commercialisation across Europe, the Middle East, and Africa (EMEA). It has received market authorisation from the European Commission on June 2, and now from the UK Medicines and Healthcare Products Regulatory Agency (MHRA) on October 30. Aankondiging • Sep 01
Santen Pharmaceutical Co., Ltd. to Report Q2, 2026 Results on Nov 06, 2025 Santen Pharmaceutical Co., Ltd. announced that they will report Q2, 2026 results on Nov 06, 2025 Aankondiging • Jun 06
Santen Pharmaceutical Co., Ltd. to Report Q1, 2026 Results on Aug 07, 2025 Santen Pharmaceutical Co., Ltd. announced that they will report Q1, 2026 results on Aug 07, 2025 Aankondiging • May 15
Santen Pharmaceutical Co., Ltd. (TSE:4536) announces an Equity Buyback for 19,800,000 shares, representing 5.8% for ¥35,000 million. Santen Pharmaceutical Co., Ltd. (TSE:4536) announces a share repurchase program. Under the program, the company will repurchase up to 19,800,000 of its common shares, representing 5.8% of its outstanding shares for ¥35,000 million. The program is aimed at enhancing shareholder returns and further improving capital efficiency. The plan will be valid up to November 5, 2025. As on November 5, 2025, the company had 341,423,368 shares outstanding and 632,186 shares in its treasury. Aankondiging • May 14
Santen Pharmaceutical Co., Ltd., Annual General Meeting, Jun 24, 2025 Santen Pharmaceutical Co., Ltd., Annual General Meeting, Jun 24, 2025. Aankondiging • Mar 06
Santen Pharmaceutical Co., Ltd. to Report Fiscal Year 2025 Results on May 13, 2025 Santen Pharmaceutical Co., Ltd. announced that they will report fiscal year 2025 results on May 13, 2025 Aankondiging • Dec 03
Santen Pharmaceutical Co., Ltd. to Report Q3, 2025 Results on Feb 06, 2025 Santen Pharmaceutical Co., Ltd. announced that they will report Q3, 2025 results on Feb 06, 2025 Reported Earnings • Nov 11
Second quarter 2025 earnings released: EPS: JP¥23.21 (vs JP¥23.45 in 2Q 2024) Second quarter 2025 results: EPS: JP¥23.21 (down from JP¥23.45 in 2Q 2024). Revenue: JP¥71.6b (down 2.4% from 2Q 2024). Net income: JP¥8.14b (down 8.2% from 2Q 2024). Profit margin: 11% (in line with 2Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Nov 07
Santen Pharmaceutical Co., Ltd. (TSE:4536) announces an Equity Buyback for 5,000,000 shares, representing 1.44% for ¥10,000 million. Santen Pharmaceutical Co., Ltd. (TSE:4536) announces a share repurchase program. Under the program, the company will repurchase up to 5,000,000 of its common shares, representing 1.44% of its outstanding shares for ¥10,000 million. The purpose of the program is to enhance capital efficiency and improve return of profits based on a comprehensive consideration of factors such as profitability improvement and business environment in accordance with the capital allocation policy in the medium-term management plan. The repurchased shares will be cancelled. The plan will be valid up to March 21, 2025. As on October 31, 2024, the company had 347,002,868 shares outstanding and 17,019,386 shares in its treasury. Upcoming Dividend • Sep 20
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 27 September 2024. Payment date: 02 December 2024. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 1.9%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.1%). Aankondiging • Sep 04
Santen Pharmaceutical Co., Ltd. to Report Q2, 2025 Results on Nov 07, 2024 Santen Pharmaceutical Co., Ltd. announced that they will report Q2, 2025 results on Nov 07, 2024 Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: JP¥29.61 (vs JP¥27.93 in 1Q 2024) First quarter 2025 results: EPS: JP¥29.61 (up from JP¥27.93 in 1Q 2024). Revenue: JP¥74.8b (up 3.3% from 1Q 2024). Net income: JP¥10.6b (up 2.1% from 1Q 2024). Profit margin: 14% (in line with 1Q 2024). Revenue is forecast to stay flat during the next 3 years compared to a 3.8% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 22
Now 20% undervalued Over the last 90 days, the stock has risen 16% to €10.50. The fair value is estimated to be €13.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.5% per annum. Earnings are forecast to grow by 8.8% per annum over the same time period. Declared Dividend • Jul 11
Final dividend of JP¥17.00 announced Shareholders will receive a dividend of JP¥17.00. Ex-date: 27th September 2024 Payment date: 2nd December 2024 Dividend yield will be 175%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (19% cash payout ratio). The dividend has increased by an average of 5.4% 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 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Jul 04
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 33% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Board Change • Jul 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. COO, Corporate Officer & Director Rie Nakajima was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Jun 02
Santen Pharmaceutical Co., Ltd. to Report Q1, 2025 Results on Aug 06, 2024 Santen Pharmaceutical Co., Ltd. announced that they will report Q1, 2025 results on Aug 06, 2024 Aankondiging • May 11
Santen Pharmaceutical Co., Ltd., Annual General Meeting, Jun 25, 2024 Santen Pharmaceutical Co., Ltd., Annual General Meeting, Jun 25, 2024. Reported Earnings • May 10
Full year 2024 earnings released: EPS: JP¥72.62 (vs JP¥38.60 loss in FY 2023) Full year 2024 results: EPS: JP¥72.62 (up from JP¥38.60 loss in FY 2023). Revenue: JP¥302.0b (up 8.2% from FY 2023). Net income: JP¥26.6b (up JP¥41.6b from FY 2023). Profit margin: 8.8% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Pharmaceuticals industry in Germany are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥17.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 21% and this is well supported by cash flows. Trailing yield: 2.2%. Lower than top quartile of German dividend payers (4.9%). In line with average of industry peers (2.4%). Aankondiging • Mar 02
Santen Pharmaceutical Co., Ltd. to Report Fiscal Year 2024 Results on May 09, 2024 Santen Pharmaceutical Co., Ltd. announced that they will report fiscal year 2024 results on May 09, 2024 Reported Earnings • Feb 11
Third quarter 2024 earnings released: EPS: JP¥20.15 (vs JP¥15.50 in 3Q 2023) Third quarter 2024 results: EPS: JP¥20.15 (up from JP¥15.50 in 3Q 2023). Revenue: JP¥77.0b (up 8.7% from 3Q 2023). Net income: JP¥7.34b (up 23% from 3Q 2023). Profit margin: 9.5% (up from 8.4% in 3Q 2023). Revenue is expected to decline by 1.8% p.a. on average during the next 3 years, while revenues in the Pharmaceuticals industry in Germany are expected to grow by 3.1%. Over the last 3 years on average, earnings per share has fallen by 10% per year and the company’s share price has also fallen by 10% per year. Aankondiging • Feb 09
Santen Pharmaceutical Co., Ltd. Revises Dividend Guidance for the Fiscal Year Ending March 31, 2024 Santen Pharmaceutical Co., Ltd. Revised Dividend guidance for the Fiscal Year Ending March 31, 2024. For the year, the company expects dividend of JPY 17.00 per share against previous guidance of JPY 16.00 per share. Buy Or Sell Opportunity • Feb 01
Now 20% undervalued Over the last 90 days, the stock has risen 15% to €9.25. The fair value is estimated to be €11.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.0% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 1.4% per annum. Earnings are forecast to grow by 9.2% per annum over the same time period. Aankondiging • Dec 02
Santen Pharmaceutical Co., Ltd. to Report Q3, 2024 Results on Feb 08, 2024 Santen Pharmaceutical Co., Ltd. announced that they will report Q3, 2024 results on Feb 08, 2024 Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: JP¥24.11 (vs JP¥73.62 loss in 2Q 2023) Second quarter 2024 results: EPS: JP¥24.11 (up from JP¥73.62 loss in 2Q 2023). Revenue: JP¥73.4b (up 16% from 2Q 2023). Net income: JP¥8.87b (up JP¥37.6b from 2Q 2023). Profit margin: 12% (up from net loss in 2Q 2023). Revenue is expected to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Pharmaceuticals industry in Germany are expected to grow by 3.1%. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Buying Opportunity • Nov 08
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be €9.95, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Sep 21
Santen Pharmaceutical Co., Ltd. Revises Consolidated Earnings Forecasts for the Fiscal Year Ending March 31, 2024 Santen Pharmaceutical Co., Ltd. revised consolidated earnings forecasts for the fiscal year ending March 31, 2024. For the year, on a core basis, the company expects revenue of ¥285,000 million, core operating profit of ¥50,000 million, core net profit for the year of ¥37,500 million and basic core earnings per share of ¥102.47 compared to the previous guidance of revenue of ¥273,000 million, core operating profit of ¥46,000 million, core net profit for the year of ¥34,500 million and basic core earnings per share of ¥94.27 provided earlier. On IFRS basis, the company expects revenue of ¥285,000 million, operating profit of ¥35,000 million, net profit for the year of ¥25,000 million and basic earnings per share of ¥68.34 compared to the previous guidance of revenue of ¥273,000 million, operating profit of ¥32,000 million, core net profit for the year of ¥22,400 million and basic core earnings per share of ¥61.24 provided earlier. Upcoming Dividend • Sep 21
Upcoming dividend of JP¥16.00 per share at 2.3% yield Eligible shareholders must have bought the stock before 28 September 2023. Payment date: 30 November 2023. The company is not currently making a profit and its cash payout ratio is 76%. Trailing yield: 2.3%. Lower than top quartile of German dividend payers (4.8%). In line with average of industry peers (2.5%). Aankondiging • Aug 27
Santen Pharmaceutical Co., Ltd. to Report Q2, 2024 Results on Nov 07, 2023 Santen Pharmaceutical Co., Ltd. announced that they will report Q2, 2024 results on Nov 07, 2023 Buying Opportunity • Aug 07
Now 21% undervalued Over the last 90 days, the stock is up 5.3%. The fair value is estimated to be €10.08, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Aug 04
First quarter 2024 earnings released: EPS: JP¥27.94 (vs JP¥16.79 in 1Q 2023) First quarter 2024 results: EPS: JP¥27.94 (up from JP¥16.79 in 1Q 2023). Revenue: JP¥72.4b (up 11% from 1Q 2023). Net income: JP¥10.4b (up 56% from 1Q 2023). Profit margin: 14% (up from 10% in 1Q 2023). Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Pharmaceuticals industry in Germany are expected to grow by 2.8%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Board Change • Jul 25
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Outside Auditor Yaeko Hodaka was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • May 31
Santen Pharmaceutical Co., Ltd. to Report Q1, 2024 Results on Aug 03, 2023 Santen Pharmaceutical Co., Ltd. announced that they will report Q1, 2024 results on Aug 03, 2023 Reported Earnings • May 16
Full year 2023 earnings released: JP¥38.58 loss per share (vs JP¥68.07 profit in FY 2022) Full year 2023 results: JP¥38.58 loss per share (down from JP¥68.07 profit in FY 2022). Revenue: JP¥279.0b (up 4.8% from FY 2022). Net loss: JP¥14.9b (down 155% from profit in FY 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.7% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share at 2.9% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 27 June 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 2.9%. Lower than top quartile of German dividend payers (4.7%). In line with average of industry peers (2.8%). Reported Earnings • Feb 09
Third quarter 2023 earnings released: EPS: JP¥15.51 (vs JP¥12.61 in 3Q 2022) Third quarter 2023 results: EPS: JP¥15.51 (up from JP¥12.61 in 3Q 2022). Revenue: JP¥70.9b (up 5.7% from 3Q 2022). Net income: JP¥5.98b (up 19% from 3Q 2022). Profit margin: 8.4% (up from 7.5% in 3Q 2022). Revenue is forecast to grow 1.4% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Aankondiging • Feb 08
Santen Pharmaceutical Co., Ltd. Revises Consolidated and Core Earnings Guidance for the Year Ending March 31, 2023 Santen Pharmaceutical Co., Ltd. revised consolidated and core earnings guidance for the year ending March 31, 2023. For the year on consolidated basis, the company revised revenue of JPY 272,000 million compared to previous guidance of JPY 280,000 million. Operating loss of JPY 6,500 million compared to previous guidance operating profit of JPY 4,000 million. Net loss for the year of JPY 15,500 million compared to previous guidance of JPY 5,500 million. Basic loss per share of JPY 40.01 compared to previous guidance of JPY 14.20.For the year on core basis, the company revised revenue of JPY 272,000 million compared to previous guidance of JPY 280,000 million. Core operating profit of JPY 41,000 million compared to previous guidance JPY 45,500 million. Core Net profit for the year of JPY 30,800 million compared to previous guidance of JPY 34,100 million. Core Basic earnings per share of JPY 79.50 compared to previous guidance of JPY 88.04. Aankondiging • Dec 18
Santen Pharmaceutical Co., Ltd. to Report Q3, 2023 Results on Feb 07, 2023 Santen Pharmaceutical Co., Ltd. announced that they will report Q3, 2023 results on Feb 07, 2023 Reported Earnings • Nov 16
Second quarter 2023 earnings released: JP¥75.56 loss per share (vs JP¥17.42 profit in 2Q 2022) Second quarter 2023 results: JP¥75.56 loss per share (down from JP¥17.42 profit in 2Q 2022). Revenue: JP¥63.4b (flat on 2Q 2022). Net loss: JP¥28.7b (down JP¥35.7b from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 3.9% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 10
Second quarter 2023 earnings released: JP¥73.61 loss per share (vs JP¥17.42 profit in 2Q 2022) Second quarter 2023 results: JP¥73.61 loss per share (down from JP¥17.42 profit in 2Q 2022). Revenue: JP¥63.4b (flat on 2Q 2022). Net loss: JP¥28.7b (down JP¥35.7b from profit in 2Q 2022). Revenue is forecast to stay flat during the next 3 years compared to a 4.0% growth forecast for the Pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has only fallen by 26% per year, which means it has not declined as severely as earnings. Buying Opportunity • Nov 03
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €8.66, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.4% over the last 3 years. Earnings per share has declined by 25%. For the next 3 years, revenue is forecast to grow by 0.4% per annum. Earnings is also forecast to grow by 4.1% per annum over the same time period. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 30 November 2022. Payout ratio is a comfortable 48% but the company is paying out more than the cash it is generating. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (5.1%). Higher than average of industry peers (2.9%). Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: JP¥16.79 (vs JP¥18.36 in 1Q 2022) First quarter 2023 results: EPS: JP¥16.79 (down from JP¥18.36 in 1Q 2022). Revenue: JP¥65.5b (flat on 1Q 2022). Net income: JP¥6.66b (down 9.2% from 1Q 2022). Profit margin: 10% (down from 11% in 1Q 2022). Over the next year, revenue is expected to shrink by 2.7% compared to a 8.0% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 25% per year whereas the company’s share price has fallen by 22% per year. Board Change • Jul 31
High number of new directors Independent Outside Director Noboru Kotani was the last director to join the board, commencing their role in 2022. Reported Earnings • May 11
Full year 2022 earnings released: EPS: JP¥68.08 (vs JP¥17.09 in FY 2021) Full year 2022 results: EPS: JP¥68.08 (up from JP¥17.09 in FY 2021). Revenue: JP¥266.3b (up 6.7% from FY 2021). Net income: JP¥27.2b (up 299% from FY 2021). Profit margin: 10% (up from 2.7% in FY 2021). The increase in margin was primarily driven by higher revenue. Over the next year, revenue is expected to shrink by 1.9% compared to a 6.1% growth forecast for the pharmaceuticals industry in Germany. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Aankondiging • Apr 08
Santen Pharmaceutical Co., Ltd. to Report Fiscal Year 2022 Results on May 10, 2022 Santen Pharmaceutical Co., Ltd. announced that they will report fiscal year 2022 results on May 10, 2022 Upcoming Dividend • Mar 23
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.5%. Lower than top quartile of German dividend payers (3.6%). In line with average of industry peers (2.6%). Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: JP¥12.62 (down from JP¥18.28 in 3Q 2021). Revenue: JP¥67.0b (up 6.6% from 3Q 2021). Net income: JP¥5.05b (down 31% from 3Q 2021). Profit margin: 7.5% (down from 12% in 3Q 2021). Revenue was in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 7.4% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Nov 10
Second quarter 2022 earnings released: EPS JP¥17.33 (vs JP¥19.09 in 2Q 2021) The company reported a soft second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: JP¥63.8b (up 4.0% from 2Q 2021). Net income: JP¥6.93b (down 9.1% from 2Q 2021). Profit margin: 11% (down from 12% in 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Sep 22
Upcoming dividend of JP¥16.00 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 30 November 2021. Trailing yield: 2.0%. Lower than top quartile of German dividend payers (3.2%). Lower than average of industry peers (2.7%). Reported Earnings • Aug 08
First quarter 2022 earnings released: EPS JP¥18.47 (vs JP¥15.49 in 1Q 2021) The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2022 results: Revenue: JP¥65.0b (up 13% from 1Q 2021). Net income: JP¥7.38b (up 19% from 1Q 2021). Profit margin: 11% (in line with 1Q 2021). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Board Change • Jul 31
High number of new directors Standing Corporate Auditor Hiroshi Isaka was the last director to join the board, commencing their role in 2020. Reported Earnings • May 14
Full year 2021 earnings released: EPS JP¥17.10 (vs JP¥59.17 in FY 2020) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2021 results: Revenue: JP¥249.6b (up 3.3% from FY 2020). Net income: JP¥6.83b (down 71% from FY 2020). Profit margin: 2.7% (down from 9.8% in FY 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥14.00 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 25 June 2021. Trailing yield: 1.8%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (3.0%). Aankondiging • Mar 04
Santen Pharmaceutical Co., Ltd. to Report Fiscal Year 2021 Results on May 11, 2021 Santen Pharmaceutical Co., Ltd. announced that they will report fiscal year 2021 results on May 11, 2021 Is New 90 Day High Low • Feb 13
New 90-day low: €13.10 The company is down 2.0% from its price of €13.30 on 13 November 2020. The German market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is up 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €15.40 per share. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS JP¥18.29 (vs JP¥17.91 in 3Q 2020) The company reported a mediocre third quarter result with weaker revenues, although profit margins were flat and earnings improved. Third quarter 2021 results: Revenue: JP¥62.9b (down 1.1% from 3Q 2020). Net income: JP¥7.31b (up 2.2% from 3Q 2020). Profit margin: 12% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Feb 07
Revenue beats expectations Revenue exceeded analyst estimates by 3.4%. Over the next year, revenue is forecast to grow 3.8%, compared to a 2.3% growth forecast for the Pharmaceuticals industry in Germany. Is New 90 Day High Low • Nov 10
New 90-day low: €13.90 The company is down 10.0% from its price of €15.40 on 12 August 2020. The German market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Pharmaceuticals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.61 per share. Analyst Estimate Surprise Post Earnings • Nov 08
Revenue beats expectations Revenue exceeded analyst estimates by 2.0%. Over the next year, revenue is forecast to grow 2.7%, compared to a 3.2% growth forecast for the Pharmaceuticals industry in Germany. Reported Earnings • Nov 08
Second quarter 2021 earnings released: EPS JP¥19.09 The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥61.3b (up 2.9% from 2Q 2020). Net income: JP¥7.63b (up 13% from 2Q 2020). Profit margin: 12% (up from 11% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Oct 19
New 90-day high: €17.70 The company is up 20% from its price of €14.70 on 21 July 2020. The German market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 11% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €13.40 per share. Is New 90 Day High Low • Sep 18
New 90-day high: €16.60 The company is up 1.0% from its price of €16.50 on 19 June 2020. The German market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €12.64 per share. 
