Kyowa Hakko Kogyo Co., Ltd. Q1 Sales Up 32.1%: Forecasts Unchanged

TOKYO--(BUSINESS WIRE)--Kyowa Hakko Kogyo Co., Ltd. (Kyowa Hakko)(TOKYO:4151) today announced its first quarter financial results for the three-month period from April 1, 2008 to June 30, 2008. Consolidated net sales for the period were JPY 125.4 billion, an increase of 32.1% compared to the first three months of the previous fiscal year, which was largely due to the new consolidation of Kirin Pharma following the implementation of a share exchange on April 1, 2008, and also the receipt of a large, one-off out-licensing payment in the Pharmaceuticals business.