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Sawai Soars To New Heights In US But Flounders In Domestic Market

One-Off Expenses, NHI Revision And Shipment Limitations All Hurt Japanese Firm

 
• By Chloe Kent

While Sawai’s dominant Japanese business appeared under some strain as the firm started its 2022 financial year, the company appears confident that it is still on track to meet its annual forecast.

Businessman holding up line of dominos
Sawai remained confident in its business in the face of multiple setbacks in the domestic market • Source: Shutterstock

Sawai started off its 2022 financial year on somewhat shaky ground, as its fiscal first quarter saw the firm experience a year-on-year drop in revenue of 4.5% to ¥48.23bn ($351.1m), alongside a 43% decrease in operating profit to ¥4.82bn and a 30% decrease of core operating income to ¥6.14bn. Full-year financial guidance was left intact however, and the firm views its company-wide progress as solid and expects contributions from new products and an end to shipment limitations to put it on the path to recovery in Q2.

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