Profits Advance At Daiichi

Daiichi of Japan saw its operating profits in the fiscal year ended March 31, 1996, advance 7.3% to 41 billion yen ($37.8 million), recurring profits were 42.8 billion yen, up 2.6%, and net profits were flat at 20.5 billion yen. Earnings per share were flat at 75.40 yen.

Sales for the year were 217.3 billion yen, an increase of 2.6% on the previous 12 months. The company is expecting turnover in the current fiscal year of its imaging agent Omnipaque (iohexol) to fall sharply as a result of the Japanese government price cuts being implemented, but is pinning its hopes on new products it is introducing during the year.