Kissei Pharmaceutical has raised its operating profit forecast for the six months to September 2026 and cut its net profit forecast in the same revision. The drugmaker says the net profit cut reflects special losses on assets tied to its treatment for microscopic polyangiitis and granulomatosis with polyangiitis, because administrative proceedings that include revocation of the drug's manufacturing and marketing approval are under way.
Operating profit up, net profit down
In a notice dated 29 October 2026, Kissei revised the interim forecast it published on 31 July 2026. It now expects sales of ¥45.5bn, up from ¥44.8bn. Operating profit is forecast at ¥1.6bn, against ¥500mn previously. Ordinary profit is forecast at ¥2.9bn, against ¥1.7bn.
Profit attributable to owners of the parent is forecast at ¥5.1bn, down from ¥7.4bn. Earnings per share fall to ¥122.19 from ¥176.92.
| Item | Previous | Revised |
|---|---|---|
| Sales | 44,800 | 45,500 |
| Operating profit | 500 | 1,600 |
| Ordinary profit | 1,700 | 2,900 |
| Net profit attributable to owners of parent | 7,400 | 5,100 |
| Earnings per share (¥) | 176.92 | 122.19 |
What drives each line
Kissei says sales of that treatment through the second quarter are tracking the ¥3.1bn forecast it published in July 2026. The sales lift comes from other products: a uterine fibroids treatment launched in March 2026, along with an overactive bladder drug and a treatment for itching in dialysis patients. Higher co-promotion fees and better-than-expected information services also helped.
On profit, Kissei cites higher gross profit from the extra sales and greater efficiency in selling, general and administrative expenses.
The net profit cut is the other side. Kissei says its forecast factors in special losses on assets tied to the treatment, including inventories and long-term prepaid expenses, in view of the administrative proceedings. The notice describes the proceedings as including revocation of approval, and does not say approval has been revoked. It also gives no separate amount for the special loss.
Caveats
Kissei will publish its full-year forecast with second-quarter results, scheduled for 4 November 2026. The company notes that the forecasts rest on information available at the release date and that actual results may differ significantly.
For earlier reporting on the drug, see Earlier Tokyo Brief coverage.