TOKYO, October 30, 2024 – Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, “Astellas”) today announced that it has booked a foreign exchange gain of ¥1.9 billion as other income for the first quarter of the consolidated accounting period (April 1, 2024 - June 30, 2024) due to fluctuations in foreign currency exchange rates. However, in the second quarter of the consolidated accounting period (July 1, 2024 - September 30, 2024), a foreign exchange loss of ¥14.1 billion was booked as other expenses.
This was mainly due to the valuation of foreign currency monetary assets and liabilities. While foreign exchange losses arose from the valuation of foreign currency monetary assets, foreign exchange gains were generated from the valuation of foreign currency monetary liabilities. As a result of netting these amounts in the consolidated financial statement process, a foreign exchange loss of ¥12.2 billion was booked as other expenses for the consolidated cumulative period of the second quarter (April 1, 2024 - September 30, 2024).
The above was reflected in the financial results of Astellas for the first six months of FY2024 which was announced today.
About Astellas
Astellas Pharma Inc. is a pharmaceutical company conducting business in more than 70 countries around the world. We are promoting the Focus Area Approach that is designed to identify opportunities for the continuous creation of new drugs to address diseases with high unmet medical needs by focusing on Biology and Modality. Furthermore, we are also looking beyond our foundational Rx focus to create Rx+® healthcare solutions that combine our expertise and knowledge with cutting-edge technology in different fields of external partners. Through these efforts, Astellas stands on the forefront of healthcare change to turn innovative science into VALUE for patients. For more information, please visit our website at https://www.astellas.com/en.
Cautionary Notes
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Astellas. These statements are based on management’s current assumptions and beliefs in light of the information currently available to it and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and in laws and regulations, relating to pharmaceutical markets, (ii) currency exchange rate fluctuations, (iii) delays in new product launches, (iv) the inability of Astellas to market existing and new products effectively, (v) the inability of Astellas to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas’ intellectual property rights by third parties.
Information about pharmaceutical products (including products currently in development) which is included in this press release is not intended to constitute an advertisement or medical advice.
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