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Recovery ‘Will Take Time’ For Nichi-Iko As Operating Profit Falls 99.8%

Japanese Firm Slashes Profit Expectations On Back Of Q3 Results

 
• By Dean Rudge

Nichi-Iko has a full menu of problems affecting operations both in its native Japan and US Sagent business. These compounded to devastate the firm’s bottom line in the nine months to 31 December, the firm’s financial results have revealed.

Japanese flag
Nichi-Iko reported a group operating profit of just ¥17m for the nine months ended 31 December • Source: Shutterstock

A “full-on recovery will take time” for Japan’s Nichi-Iko Pharmaceutical Co., Ltd., considering a variety of company-specific issues currently facing the firm, as Nichi-Iko reported a near 100% drop in its operating profit for the nine months ended 31 December 2020.

This is the view of SMBC Nikko Securities, which called on Nichi-Iko to address issues in its native Japan first,...

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