Takeda Achieves Record Pretax Profits

Takeda of Japan posted record pretax profits for the fiscal year ended March 31, 1996. Recurring profits reached 91.8 billion yen ($840.5 million), up 16.5% on the previous fiscal year. The company said that this marked an all-time high for the second consecutive year.

The firm's sales for the year advanced 5% to 602 billion yen. Sales of prescription drugs were said to have been particularly strong. Operating profits were 84.1 billion yen, up 24%, and net profits rose 1.4% to 28.6 billion yen. Earnings per share were 23 yen, compared to 120.5 yen a year earlier. Takeda is forecasting steady demand for its antibiotics and antiasthma agents, but rising sales costs will result in flat operating profit for the current fiscal year.