Takara Bio cuts forecast, books impairment amid market downturn
Takara Bio Inc. revised its consolidated financial forecasts for the first half of the fiscal year ending March 31, 2026, anticipating a substantial decline in performance. Net sales are now projected at JPY 18,700 million, down from JPY 21,300 million. Net income attributable to owners of the parent is expected to be a loss of JPY 6,900 million, a drastic change from the previous forecast of a JPY 1,320 million loss. This revision is primarily attributed to a global downturn in the life sciences research market, marked by reduced U.S. government grants and China's economic slowdown, leading to decreased R&D activity.
The company also announced the recognition of an extraordinary loss of approximately JPY 3.9 billion due to impairment of manufacturing facilities. This impairment stems from a reassessment of asset recoverability following the termination of a joint development and exclusive sales agreement with Otsuka Pharmaceutical Co., Ltd. for NY-ESO-1 • siTCRTM gene therapy, and shifts in the R&D environment.
Additionally, Takara Bio expects to reverse deferred tax assets by approximately JPY 400 million in the second quarter. This reversal is a result of a careful evaluation of the recoverability of these assets, considering the current business environment and future performance trends. The company is currently reviewing its full-year forecasts and will disclose any revisions promptly.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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