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Takeda announced its financial results for fiscal year 2025, covering the period ended March 31, 2026. The company said the results were in line with its latest FY2025 Management Guidance, supported by strong operating expense (OPEX) savings that helped mitigate revenue headwinds while Takeda continued to invest in future growth.
For FY2025, Takeda reported revenue decreased by 1.7% year on year (YoY) at actual exchange rates (AER). The company attributed the decline to the loss of exclusivity for VYVANSE®, partially mitigated by Growth and Launch Products. On a core basis, revenue decreased by 2.6% at constant exchange rates (CER).
Core operating profit increased by 0.8% YoY at AER but declined by 0.9% at CER. Takeda said the core result was protected by OPEX savings while still funding growth investments.
Reported operating profit rose 19.3% YoY at AER, reflecting a step-down in amortization expenses for VYVANSE and lower restructuring expenses.
Core EPS increased by 5.2% YoY at AER and by 3.1% at CER. Reported EPS increased by 78.1% YoY.
Adjusted free cash flow totaled JPY 684.5 billion, in line with forecast, and Takeda ended the fiscal year with a strong cash balance.
Takeda reported progress across multiple late-stage assets, including positive Phase 3 readouts and completed regulatory submissions for some programs, with launch preparations underway.
Based on its outlook and planned investment profile, Takeda issued the following FY2026 forecast and management guidance:
The company’s reported and core results for FY2025 were as follows:
Core (Non-IFRS):
Takeda CEO-elect Julie Kim said FY2025 was a pivotal year, citing execution against demanding development and regulatory milestones, resilience in the commercial portfolio, and three major launches planned in the next 12 months. She also referenced what the company described as the most robust late-stage pipeline in its history, with a growth roadmap focused on near-term launches and transitioning to a new cohort of blockbuster brands.
Chief Financial Officer Milano Furuta said Takeda delivered solid profit and cash flow despite topline headwinds through disciplined cost control, while directing growth investment toward new product launches and the pipeline. For FY2026, he said Takeda will focus on transforming operations and protecting profitability while delivering successful launches and advancing its pipeline, supported by strong cash flow generation and deleveraging.
Takeda said it maintains a disciplined capital allocation framework prioritizing investments in new launches and R&D innovation to drive growth, alongside returns to shareholders under its progressive dividend policy. For FY2025, the proposed annual dividend was JPY 200 per share, and year-end adjusted net debt/adjusted EBITDA was 2.6x.
Takeda will host a conference call for investors and analysts on Wednesday, May 13, 2026, at 7:00 PM JST / 6:00 AM EDT to discuss its full-year 2025 financial results. A live webcast and presentation materials will be available on the company’s investor relations website.
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