Revenue Rises, Profits Slide: Japan’s Nippon Shinyaku Projects a 19% Drop in Annual Net Income

Japanese pharmaceutical and food giant Nippon Shinyaku released a mixed financial report on Monday, February 9, 2026. While the company saw its 9-month revenue grow by 4.8% to approximately $813 million, its net profit during the same period fell by 9.5%. The disconnect highlights the rising operational costs and R&D expenses weighing on the bottom line despite strong sales performance.

For the full fiscal year ending March 31, the company now expects net income to settle at 26.3 billion yen ($168.3 million), a significant 19.2% decrease compared to last year. Although total revenue is projected to grow to $1.09 billion, the shrinking profit margins reflect a broader trend in the Japanese pharma industry struggling with cost inflation and currency headwinds.