Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Hisamitsu Pharmaceutical Co / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> has reported double-digit revenue growth in H1FY25, mainly driven by 17% YoY growth in OTC pharmaceutical product, Salonpas. Net profit grew 8%.</li>
<li>Rx business revenues grew 5% as Zicthoru, Apohide etc clocked healthy numbers, while Mohrus product line continues to decline. Since Q1FY24, Zicthoru’s quarterly revenue run-rate has been surpassing ¥1B.</li>
<li>Hisamitsu has reiterated its FY25 guidance of ¥152B revenue, operating profit of ¥14.5B, and net profit of ¥15.8B. With H1FY25 progress rate, the company is expected to beat the guidance.</li>
</ul>



Hisamitsu Pharmaceutical Co (4530 JP) has reported double-digit revenue growth in H1FY25, mainly driven by 17% YoY growth in OTC pharmaceutical product, Salonpas. Net profit grew 8%.
Rx business revenues grew 5% as Zicthoru, Apohide etc clocked healthy numbers, while Mohrus product line continues to decline. Since Q1FY24, Zicthoru’s quarterly revenue run-rate has been surpassing ¥1B.
Hisamitsu has reiterated its FY25 guidance of ¥152B revenue, operating profit of ¥14.5B, and net profit of ¥15.8B. With H1FY25 progress rate, the company is expected to beat the guidance.


Hisamitsu Pharmaceutical (4530 JP): H1FY25 Witness Strong Growth; FY25 Guidance Reiterated

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> has reported double-digit growth in revenue and net profit in Q1FY25. However, operating profit decreased 5% YoY due to higher expenses.  </li>
<li>Topline growth was mainly driven by Salonpas, which was named the world’s no. 1 OTC topical analgesic patch band for the eighth consecutive year.  </li>
<li>The company reiterated FY25 guidance of 7% revenue growth and low double-digit operating and net profit growth, as an increase in operating profit is expected for the full-year as planned.</li>
</ul>



Hisamitsu Pharmaceutical Co (4530 JP) has reported double-digit growth in revenue and net profit in Q1FY25. However, operating profit decreased 5% YoY due to higher expenses.  
Topline growth was mainly driven by Salonpas, which was named the world’s no. 1 OTC topical analgesic patch band for the eighth consecutive year.  
The company reiterated FY25 guidance of 7% revenue growth and low double-digit operating and net profit growth, as an increase in operating profit is expected for the full-year as planned.


Hisamitsu Pharmaceutical (4530 JP): Mixed Performance in Q1FY25; No Change in FY25 Guidance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> has reported double-digit revenue and net profit growth in Q3FY24, mainly driven by 21% YoY growth in Salonpas focused OTC pharmaceutical products.</li>
<li>The company attributes OTC product revenue growth to aggressive sales promotion activities in Japan and overseas, recovery of domestic economic activity and inbound demand, and impact of the weaker yen.</li>
<li>Encouraged by Salonpas revenue recovery, Hisamitsu has raised FY24 guidance. The company has revised FY24 revenue guidance upward by 7% to ¥141 billion (up 10% YoY) from ¥132 billion.</li>
</ul>



Hisamitsu Pharmaceutical Co (4530 JP) has reported double-digit revenue and net profit growth in Q3FY24, mainly driven by 21% YoY growth in Salonpas focused OTC pharmaceutical products.
The company attributes OTC product revenue growth to aggressive sales promotion activities in Japan and overseas, recovery of domestic economic activity and inbound demand, and impact of the weaker yen.
Encouraged by Salonpas revenue recovery, Hisamitsu has raised FY24 guidance. The company has revised FY24 revenue guidance upward by 7% to ¥141 billion (up 10% YoY) from ¥132 billion.


Hisamitsu Pharmaceutical (4530 JP): OTC Business Is on Strong Footing; FY24 Guidance Raise

Kobayashi Pharmaceutical Co / Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/kobayashi-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:14930:1" rel="noopener">Kobayashi Pharmaceutical Co (4967 JP)</a> witnessed business revival in Q3, especially in the domestic household and the U.S. business. In Q3, revenue increased 6% YoY and 13% QoQ to ¥45.4B.</li>
<li>Kobayashi has reiterated FY24 guidance. The company has guided for FY24 revenue of ¥172.0B (+4% YoY), operating income of ¥25.5B (-4% YoY), and net profit of ¥20.2B (-1% YoY).</li>
<li>By establishing the supplement business in North America and further expanding OTC medicines, the company aims to achieve sales of ¥34B in the U.S. in 2030, including ¥16B from healthcare.</li>
</ul>



Kobayashi Pharmaceutical Co (4967 JP) witnessed business revival in Q3, especially in the domestic household and the U.S. business. In Q3, revenue increased 6% YoY and 13% QoQ to ¥45.4B.
Kobayashi has reiterated FY24 guidance. The company has guided for FY24 revenue of ¥172.0B (+4% YoY), operating income of ¥25.5B (-4% YoY), and net profit of ¥20.2B (-1% YoY).
By establishing the supplement business in North America and further expanding OTC medicines, the company aims to achieve sales of ¥34B in the U.S. in 2030, including ¥16B from healthcare.


Kobayashi Pharmaceutical Co (4967 JP): Q3 Shows Early Signs of Business Revival; Aims Big for US

<ul>
<li>
<a href="https://www.smartkarma.com/entities/hisamitsu-pharmaceutical-co" target="_blank" data-smartkarma-citation="entities:17008:1" rel="noopener">Hisamitsu Pharmaceutical Co (4530 JP)</a> announced mixed Q2FY24 result, with single-digit revenue growth and bottom-line decline. Revenue grew 5% YoY to ¥34.9B, while operating profit declined 8% YoY to ¥4B.</li>
<li>Salonpas line of OTC pain relieving patches have become major growth driver of the company. In Q2FY24, Salonpas revenue increased 14% YoY, lowest growth rate reported in last five quarters.</li>
<li>Despite 70%+ progress of operating and net profits, Hisamitsu reiterated FY24 guidance. Declining margins, anticipated increase in SG&amp;A expenses, and high base call for massive fall in profit in H2FY24.</li>
</ul>



Hisamitsu Pharmaceutical Co (4530 JP) announced mixed Q2FY24 result, with single-digit revenue growth and bottom-line decline. Revenue grew 5% YoY to ¥34.9B, while operating profit declined 8% YoY to ¥4B.
Salonpas line of OTC pain relieving patches have become major growth driver of the company. In Q2FY24, Salonpas revenue increased 14% YoY, lowest growth rate reported in last five quarters.
Despite 70%+ progress of operating and net profits, Hisamitsu reiterated FY24 guidance. Declining margins, anticipated increase in SG&amp;A expenses, and high base call for massive fall in profit in H2FY24.


Hisamitsu Pharmaceutical (4530 JP): Mixed Q2FY24 Result- Some Points Worth of Paying Attention

Japan

HISAMITSU PHARMACEUTICAL CO., INC. produces and sells pharmaceutical products. The Company's main product is anti-inflammatory analgesic plasters and poultices sold under the brand name Salonpas.  Hisamitsu Pharmaceutical exports its products to North America and Southeast Asia.  The Company also researches and develops antibacterial products through its related company, RRF.

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Hisamitsu Pharmaceutical Co (4530 JP)

Hisamitsu Pharmaceutical (4530 JP): H1FY25 Witness Strong Growth; FY25 Guidance Reiterated

Hisamitsu sees 13% revenue growth in H1FY25 driven by Salonpas, with net profit up 8%. Rx business also shows growth. The company reiterates FY25...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Mixed Performance in Q1FY25; No Change in FY25 Guidance

Hisamitsu reports 12% revenue growth in Q1FY25, while operating profit decreased due to higher expenses. The company reiterates FY25 guidance,...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): OTC Business Is on Strong Footing; FY24 Guidance Raise

Hisamitsu reports double-digit revenue and net profit growth in Q3FY24, driven by Salonpas OTC products. FY24 revenue guidance has been raised by...

Tina Banerjee

Kobayashi Pharmaceutical Co (4967 JP): Q3 Shows Early Signs of Business Revival; Aims Big for US

Kobayashi experienced business revival in Q3, with revenue increasing 6% YoY and 13% QoQ to ¥45.4B. The company aims to establish supplement...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Mixed Q2FY24 Result- Some Points Worth of Paying Attention

Hisamitsu reported mixed Q2FY24 results with single-digit sales growth and a decline in bottom-line. Salonpas revenue growth slowed down to 5...

Tina Banerjee

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Hisamitsu Pharmaceutical (4530 JP): H1FY25 Witness Strong Growth; FY25 Guidance Reiterated

​Hisamitsu sees 13% revenue growth in H1FY25 driven by Salonpas, with net profit up 8%. Rx business also shows growth. The company reiterates FY25...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Mixed Performance in Q1FY25; No Change in FY25 Guidance

​Hisamitsu reports 12% revenue growth in Q1FY25, while operating profit decreased due to higher expenses. The company reiterates FY25 guidance,...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): OTC Business Is on Strong Footing; FY24 Guidance Raise

​Hisamitsu reports double-digit revenue and net profit growth in Q3FY24, driven by Salonpas OTC products. FY24 revenue guidance has been raised by...

Tina Banerjee

Kobayashi Pharmaceutical Co (4967 JP): Q3 Shows Early Signs of Business Revival; Aims Big for US

​Kobayashi experienced business revival in Q3, with revenue increasing 6% YoY and 13% QoQ to ¥45.4B. The company aims to establish supplement...

Tina Banerjee

Hisamitsu Pharmaceutical (4530 JP): Mixed Q2FY24 Result- Some Points Worth of Paying Attention

​Hisamitsu reported mixed Q2FY24 results with single-digit sales growth and a decline in bottom-line. Salonpas revenue growth slowed down to 5...

Tina Banerjee

Hisamitsu sees 13% revenue growth in H1FY25 driven by Salonpas, with net profit up 8%. Rx business also shows growth. The company reiterates FY25...

Hisamitsu reports 12% revenue growth in Q1FY25, while operating profit decreased due to higher expenses. The company reiterates FY25 guidance,...

Hisamitsu reports double-digit revenue and net profit growth in Q3FY24, driven by Salonpas OTC products. FY24 revenue guidance has been raised by...

Kobayashi experienced business revival in Q3, with revenue increasing 6% YoY and 13% QoQ to ¥45.4B. The company aims to establish supplement...

Hisamitsu reported mixed Q2FY24 results with single-digit sales growth and a decline in bottom-line. Salonpas revenue growth slowed down to 5...