Chugai Pharmaceutical Co Ltd
4519: XTKS (JPN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥2,376.00 | Mxrrw | Btbbjhcty |
Chugai Full-Year Earnings and Guidance Better Than Expected; FVE Unchanged at JPY 4,860
Narrow-moat Chugai reported full-year earnings and guidance for 2022 stronger than our expectations. Fourth-quarter revenue grew 53% year on year to JPY 264 billion, which is in line with our expectation. Operating income grew 88% year on year to JPY 139 billion, which is above our expectation largely due to greater-than-expected contribution from ex-Japan Hemlibra sales (exports to Roche and royalties from Roche’s sales).