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NXP Semiconductors Reports Third Quarter 2018 Results


    Total NXP HPMS Corp. & Other  
  Revenue $2.45 billion $2.35 billion $94 million  
  GAAP Gross margin 51.4% 53.3% 2.1%  
  GAAP Operating margin 90.4% 10.2% 2096.8%  
  Non-GAAP Gross margin 53.0% 54.6% 11.7%  
  Non-GAAP Operating margin 30.0% 31.1% 1.1%  

EINDHOVEN, The Netherlands, Oct. 31, 2018 — NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the third quarter 2018 ended September 30, 2018.

“NXP delivered strong results for the third quarter of 2018, with revenue at $2.45 billion, an increase of 2 percent year-on-year, an increase of 7 percent versus the prior quarter and $20 million above the mid-point of our guidance. HPMS segment revenue was $2.35 billion, an increase of 3 percent year-on-year, and an increase of 7 percent from the prior quarter,” said Richard Clemmer, NXP Chief Executive Officer.

“Within Automotive, third quarter revenue was $990 million, up 4 percent year-on-year, with advanced analog and infotainment primarily contributing to the year-on-year growth, while reduced pulls of automotive MCUs from tier-one customers impacted the overall year-on-year growth. Within Secure Connected Devices, third quarter revenue was $717 million, up 1 percent year-on-year driven by the continued demand for general purpose, multi-market MCUs, which were up high single digits, offset by a significant decline in demand for mobile transaction solutions after a strong new customer ramp during 2017. In Secure Interface and Infrastructure, third quarter revenue was $511 million, up 5 percent year-on-year due to early 5G network trials with North American carriers. Lastly, in Secure Identification Solutions, third quarter revenue was $133 million, down 4 percent year-on-year due to lower demand for bank card products.

“During the third quarter, we announced that we are in the process of simplifying our organizational structure, and promoted Kurt Sievers to President. Over Kurt’s tenure with NXP, he has successfully driven the NXP automotive business to become the industry leading automotive semiconductor supplier. These changes will enable us to drive improved cross business line collaboration, deliver holistic platform solutions to our customers and to strengthen our decision-making focus, speed, and efficiency. Additionally, during the quarter, we held a very well attended investor day, where we reiterated our strategic and financial goals. Given our strong balance sheet and the confidence of our strategic product development, we believe we are well positioned to drive significant value for our owners and to materially improve shareholder value. The NXP team is fully energized, focused, and motivated to outperform the market,” said Clemmer.  

“In the third quarter, our GAAP operating margin was 90.4 percent, as result of the receipt of the $2 billion termination fee associated with the failed Qualcomm transaction, and continued operational performance” said Peter Kelly, NXP Chief Financial Officer.

“Our third quarter non-GAAP operating margin was 30.0 percent, a decline of 80 basis points as compared to 30.8 percent reported in the third quarter of 2017, as result of product mix and increased R&D investments between the year-on-year periods. On a sequential basis, our non-GAAP operating margin increased 300-basis points due to higher revenue, lower than anticipated incentive accruals and improved operating expense control during the third quarter.

“During the quarter, we returned approximately $4.6 billion to shareholders via our previously announced $5 billion share repurchase program, and we announced a $0.25 per share quarterly cash dividend program. Leverage increased to 1.39x, below our long-term target of 2x as we executed on our previously announced buyback and added $1billion of debt in the form of a bridge loan,” said Kelly.

Summary of Reported Third Quarter 2018 ($ millions, unaudited)

      Q3 2018   Q2 2018   Q3 2017   Q – Q   Y – Y  
  Product Revenue   $   2,351     $   2,193     $   2,288     7%   3%  
  Corporate & Other   $   94     $   97     $   99     -3%   -5%  
  Total Revenue   $    2,445     $    2,290     $    2,387     7%   2%  
  GAAP Gross Profit   $    1,256     $    1,180     $    1,215     6%   3%  
  Gross Profit Adjustments (1)   $   (39 )   $   (30 )   $   (68 )          
  Non-GAAP Gross Profit   $    1,295     $    1,210     $    1,283     7%   1%  
  GAAP Gross Margin     51.4 %     51.5 %     50.9 %          
  Non-GAAP Gross Margin     53.0 %     52.8 %     53.7 %          
  GAAP Operating Income / (Loss)   $    2,211     $    137     $    163     1514%   1256%  
  Operating Income Adjustments (1)       1,478         (481 )       (572 )          
  Non-GAAP Operating Income   $    733     $    618     $    735     19%   0%  
  GAAP Operating Margin     90.4 %     6.0 %     6.8 %          
  Non-GAAP Operating Margin     30.0 %     27.0 %     30.8 %          
  1. For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures” on page 4 of this release.

Additional Information for the Third Quarter 2018:

•  Capital structure:

  • Total gross debt was $6.36 billion, up from the $5.34 billion at the end of the second quarter of 2018, and down from the $6.56 billion at the end of the third quarter of 2017.
  • Cash was $1.94 billion, a decrease from the $2.98 billion at the end of the second quarter of 2018, and a decrease from the $3.07 billion at the end of the third quarter of 2017.  As previously disclosed, the increase in gross debt was due to the $1.0 billion senior unsecured bridge term credit facility agreement, announced on September 20, 2018.
  • Net debt at the end of the third quarter of 2018 was $4.41 billion, an increase from the $2.36 billion at the end of the second quarter of 2018, and an increase from the $3.49 billion at the end of the third quarter of 2017.
  • Trailing twelve months, adjusted EBITDA was $3.18 billion, flat sequentially, and an increase from $3.12 billion at the end of the third quarter of 2017.
  • Financial leverage, defined as net debt divided by trailing twelve months adjusted EBITDA was 1.39x, an increase from 0.74x at the end of the second quarter of 2018, and from 1.12x reported at the end of the third quarter of 2017.
  • Net cash paid for interest was $7 million in the third quarter.

•  Cash flow:

  • Cash flow from operations was $2.62 billion, an increase from the $403 million at the end of the second quarter of 2018, and from the $643 million at the end of the third quarter of 2017 due to the receipt during the quarter of the $2.0 billion termination fee from Qualcomm, and cash generated from ongoing operations.
  • Net capital expenditures on property, plant and equipment was $155 million, an increase from the $129 million at the end of the second quarter of 2018, and a decrease from the $161 million at the end of the third quarter of 2017.
  • Non-GAAP free cash flow, defined as cash flow from operations, less net capital expenditures on property, plant and equipment was $2.46 billion, an increase from the $274 million at the end of the second quarter of 2018, and from the $482 million at the end of the third quarter of 2017.

•  Capital return:

  • During the third quarter of 2018 NXP repurchased 49.0 million shares for a total cost of $4.58 billion as part of the $5 billion share repurchase program announced on July 26, 2018.
  • Weighted average number of diluted shares for the three-month period ended September 30, 2018 was 325 million, a reduction of 22 million shares as compared to the second quarter.
  • During October 2018, the NXP Board of Directors authorized the additional repurchase of approximately 15 million shares, up to the full 20 percent as approved by shareholders at the June 22, 2018 Annual General Meeting. The extended authorization, effective November 1, 2018 is above the completed $5 billion share repurchase program announced on July 26, 2018.
  • On September 10, 2018, NXP declared a $0.25 per share cash dividend. The interim cash dividend was paid to shareholders of record as of September 25, 2018, on October 5, 2018. 

•  Working capital and channel inventory metrics:

  • Days of inventory held by NXP was 100 days, down 11 days sequentially versus the second quarter;
  • Days payable was 74 days, down 16 days sequentially from the second quarter;
  • Days sales was 32 days an increase of 1 day sequentially from the second quarter;
  • The cash conversion cycle was 58 days, an increase of 6 days versus the second quarter;
  • Channel inventory held by NXP’s distribution partners was 2.4 months, flat on a sequential basis, and in line with NXPs long-term channel target of 2.5 months, plus or minus a half month.

•  Taxes:

  • Cash paid for income taxes related to on-going operations was $33 million.
  • Items not related to on-going operations resulted in additional cash payments of $47 million, which was mainly due to the divestment of the Standard Products business.

•  Manufacturing:

  • SSMC, NXP’s consolidated joint-venture wafer-fab with TSMC, reported third quarter 2018 operating income of $34 million, EBITDA of $45 million and a closing cash balance of $132 million. During the third quarter, SSMC paid a previously announced dividend of $139 million to NXP and TSMC, proportional to ownership in the joint venture.
  • NXP combined wafer-fab utilization averaged 87 percent, as compared to 92 percent in the prior quarter, and 93 percent in the third quarter of 2017.

Supplemental Information for the Third Quarter 2018 ($ millions, unaudited) (1)


  Q3 2018   Q2 2018   Q3 2017   Q-Q   Y-Y
  Automotive $   990   $   1,008   $   948   -2 %   4 %  
  Secure Identification Solutions (SIS) $   133   $   143   $   139   -7 %   -4 %  
  Secure Connected Devices (SCD) $   717   $   644   $   713   11 %   1 %  
  Secure Interface & Infrastructure (SI&I) $   511   $   398   $   488   28 %   5 %  
  High Performance Mixed Signal (HPMS) $   2,351   $   2,193   $   2,288   7 %   3 %  
  Corporate & Other $   94   $   97   $   99   -3 %   -5 %  
  Total Revenue $   2,445   $   2,290   $   2,387   7 %   2 %  



  1. As of January 1, 2019, NXP will begin to provide supplemental revenue information by end-market, defined as Automotive; Industrial & IoT; Mobile; and Communications Infrastructure & Other. To help investors better understand this supplemental information NXP will provide the current and comparable period revenue in both the existing format and the new end market at the time of the fourth quarter earnings release.

Guidance for the Fourth Quarter 2018: ($ millions) (1)

    GAAP   Reconciliation non-GAAP
    Low   Mid   High       Low   Mid   High
Product Revenue   $    2,225     $    2,300     $    2,375     $   –     $    2,225     $    2,300     $    2,375  
Q-Q     -5 %     -2 %     1 %         -5 %     -2 %     1 %
Y-Y     -5 %     -2 %     1 %         -5 %     -2 %     1 %
Other Revenue   $   90     $   90     $   90     $   –     $   90     $   90     $   90  
Total Revenue   $    2,315     $    2,390     $    2,465     $   –     $    2,315     $    2,390     $    2,465  
Q-Q     -5 %     -2 %     1 %         -5 %     -2 %     1 %
Y-Y     -6 %     -3 %     0 %         -6 %     -3 %     0 %
Gross Profit   $    1,182     $    1,238     $    1,295     $   (29 )   $    1,211     $    1,267     $    1,324  
Gross Margin     51.1 %     51.8 %     52.5 %         52.3 %     53.0 %     53.7 %
Operating Income (loss)   $    184     $    230     $    277     $    (487 )   $    671     $    717     $    764  
Operating Margin     7.9 %     9.6 %     11.2 %         29.0 %     30.0 %     31.0 %
Financial income (expense)   $   (69 )   $   (70 )   $   (71 )   $   (13 )   $   (56 )   $   (57 )   $   (58 )

Note (1) Additional Information:

  1. GAAP Gross Profit includes Purchase Price Accounting (“PPA”) effects, ($18 million); Stock Based Compensation, ($11 million);
  2. GAAP Operating Profit includes PPA effects, ($381 million); Stock Based Compensation, ($93 million); Merger related costs ($9 million); Other Incidentals, ($4 million);
  3. GAAP Financial Income (expense) includes Other financial expense ($13 million);
  4. Net cash paid for income taxes is expected to be approximately ($30 million);
  5. Non-controlling interest is expected to be approximately ($13 million).
  6. Weighted average diluted share count is expected to be approximately 295 million

NXP has based the guidance included in this release on judgments and estimates that management believes are reasonable given its assessment of historical trends and other information reasonably available as of the date of this release. Please note, the guidance included in this release consists of predictions only, and is subject to a wide range of known and unknown risks and uncertainties, many of which are beyond NXP’s control.  The guidance included in this release should not be regarded as representations by NXP that the estimated results will be achieved.  Actual results may vary materially from the guidance we provide today.  In relation to the use of non-GAAP financial information see the note regarding “Non-GAAP Financial Measures” below.  For the factors, risks, and uncertainties to which judgments, estimates and forward-looking statements generally are subject see the note regarding “Forward-looking Statements.”  We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance set forth herein, to reflect future events or circumstances

Non-GAAP Financial Measures

In managing NXP’s business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures. In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting NXP’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to operations, certain non-cash expenses and share-based compensation expense, which may obscure trends in NXP’s underlying performance.  This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management. 

These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual.  Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).” Please refer to the NXP Historic Financial Model file found on the Financial Information page of the Investor Relations section of our website at for additional information related to our rationale for using these non-GAAP financial measures, as well as the impact of these measures on the presentation of NXP’s operations.  

In addition to providing financial information on a basis consistent with U.S. generally accepted accounting principles (“GAAP”), NXP also provides the following selected financial measures on a non-GAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of acquisition-related intangible assets, (vi) Other income, (vii) Operating income (loss), (viii) Operating margin, (ix) Financial Income (expense), (x) EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xi) free cash flow and free cash flow as a percent of Revenue. The non-GAAP information excludes the amortization of acquisition related intangible assets, the purchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration costs), certain items related to divestitures, share-based compensation expense, restructuring and asset impairment charges, non-cash interest expense on convertible notes, extinguishment of debt, changes in the fair value of the warrant liability prior to January 1, 2016 and foreign exchange gains and losses.

Conference Call and Webcast Information

NXP will host a conference call on November 1, 2018 at 8:00 a.m. U.S. Eastern Time (2:00 p.m. Central European Time) to discuss its third quarter 2018 results and provide an outlook for the fourth quarter of 2018. 

Interested parties may join the conference call by dialing 1 – 888 – 603 – 7644 (within the U.S.) or 1 – 484 – 747 – 6631 (outside of the U.S.). The participant pass-code is 6159326 To listen to a webcast of the event, please visit the Investor Relations section of the NXP website at The webcast will be recorded and available for replay shortly after the call concludes.

About NXP Semiconductors

NXP Semiconductors N.V. (NASDAQ: NXPI) enables secure connections and infrastructure for a smarter world, advancing solutions that make lives easier, better, and safer. As the world leader in secure connectivity solutions for embedded applications, NXP is driving innovation in the secure connected vehicle, end-to-end security & privacy, and smart connected solutions markets. Built on more than 60 years of combined experience and expertise, the company has over 30,000 employees in more than 30 countries and posted revenue of $9.26 billion in 2017. Find out more at


Arcturus Therapeutics to Present at Upcoming Investor Conference


Arcturus Therapeutics Holdings Inc. (the Company, Arcturus, Nasdaq: ARCT), a leading clinical-stage messenger RNA medicines company focused on the development of infectious disease vaccines and significant opportunities within liver and respiratory rare diseases, today announced that the Company will be presenting at Piper Sandlers 32nd Annual Virtual Healthcare Conference:

The Road Ahead for COVID-19 Vaccines: What We Know and Questions Still to be Answered into 2021

Panel Presentation Date: Tuesday, Dec 1, 2020 Time: 10:00 a.m. ET

About Arcturus Therapeutics

Founded in 2013 and based in San Diego, California, Arcturus Therapeutics Holdings Inc. (Nasdaq: ARCT) is a clinical-stage mRNA medicines and vaccines company with enabling technologies: (i) LUNAR lipid-mediated delivery, (ii) STARR„¢ mRNA Technology and (iii) mRNA drug substance along with drug product manufacturing expertise. Arcturus diverse pipeline of RNA therapeutic and vaccine candidates includes self-replicating mRNA vaccine programs for SARS-CoV-2 (COVID-19) and Influenza, and other programs to potentially treat Ornithine Transcarbamylase (OTC) Deficiency, Cystic Fibrosis, and Cardiovascular Disease along with partnered programs including Glycogen Storage Disease Type 3, Hepatitis B Virus, and non-alcoholic steatohepatitis (NASH). Arcturus versatile RNA therapeutics platforms can be applied toward multiple types of nucleic acid medicines including messenger RNA, small interfering RNA, replicon RNA, antisense RNA, microRNA, DNA, and gene editing therapeutics. Arcturus technologies are covered by its extensive patent portfolio (200 patents and patent applications, issued in the U.S., Europe, Japan, China and other countries). Arcturus commitment to the development of novel RNA therapeutics has led to collaborations with Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, Ultragenyx Pharmaceutical, Inc., Takeda Pharmaceutical Company Limited, CureVac AG, Synthetic Genomics Inc., Duke-NUS, and the Cystic Fibrosis Foundation. For more information visit In addition, please connect with us on Twitter and LinkedIn.

IR and Media Contacts

Arcturus Therapeutics

Neda Safarzadeh

(858) 900-2682

[email protected]

Kendall Investor Relations

Carlo Tanzi, Ph.D.

(617) 914-0008

[email protected]

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Diamond S Shipping Inc. Comments on an Incident Involving One of Its Vessels


Diamond S Shipping Inc. (NYSE: DSSI) (Diamond S or the Company) announced the receipt of an incident report involving a kidnapping on one of its product tanker vessels, the Agisilaos, as it was approaching the port of Lome, Togo on November 29, 2020.  The vessel is managed and crewed by Capital Ship Management Corp. (˜Capital) who informed Diamond S about the kidnapping of four crew members. The Company confirms that there were 22 seafarers aboard when the attack occurred.  There have been no reports of injuries at this time. All appropriate authorities have been notified and Diamond S is fully supporting Capital as they respond to this situation. Diamond S will not comment further on these operational issues to avoid potentially jeopardizing the safety of the crew members being held or prolonging their stay in captivity.

About Diamond S Shipping Inc.

Diamond S Shipping Inc. (NYSE Ticker: DSSI) owns and operates 66 vessels on the water, including 15 Suezmax vessels, one Aframax and 50 medium-range (MR) product tankers. Diamond S Shipping is one of the largest energy shipping companies providing seaborne transportation of crude oil and refined petroleum products in the international shipping markets.  The Company is headquartered in Greenwich, CT.  More information about the Company can be found at

Investor Relations Inquiries:

Robert Brinberg

Tel: +1-212-517-0810

E-mail: [email protected]

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Takeda Completes Sale of Select OTC and Non-Core Assets to Celltrion in Asia Pacific


Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) (Takeda) today announced the completion of its previously-announced sale of a portfolio of select products to Celltrion Inc. (Celltrion) for a total value of $278 million USD inclusive of milestone payments. The portfolio includes 18 pharmaceutical products and over-the-counter (OTC) products sold in Asia Pacific, which is part of Takedas Growth & Emerging Markets Business Unit. This divestment agreement was first announced in June 2020.

The divested portfolio includes pharmaceutical products and OTC products in the Cardiovascular, Diabetes and General Medicine therapeutic areas, sold in Australia, Hong Kong, Macau, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand. The products, while addressing key patient needs in these countries and territories, are outside of the business areas Takeda has chosen as core to its global long-term growth. As part of the deal, Takeda will continue to manufacture the portfolio of divested products and supply them to Celltrion under a manufacturing and supply agreement.

Takeda intends to use the proceeds from the sale to reduce its debt and accelerate deleveraging towards its target of 2x net debt/adjusted EBITDA within Fiscal Years 2021“2023.

Takeda has exceeded its $10 billion non-core asset divestiture target and has announced 10 deals since January 2019 to date for a total aggregate value of up to ~$11.3 billion, including agreements to divest:

  • Takeda Consumer Healthcare Company Limited to Oscar A-Co KK, a company controlled by funds managed by The Blackstone Group Inc. and its affiliates for a¯total value of approximately JPY 242.0 billion ($2.3 billion USD).
  • Other non-core portfolio assets within the Growth & Emerging Markets Business Unit, totaling ~$1.7 billion* with three separate buyers.
  • Select OTC and non-core assets in Europe to Orifarm for approximately $670 million.
  • Non-core assets in Europe and Canada to Cheplapharm for approximately $562 million.
  • The TachoSil Fibrin Sealant Patch to Corza Health, Inc. for approximately ‚¬350 million.

Transactions still pending are expected to close by March 31, 2021, subject to customary legal and regulatory closing conditions.

* Including an agreement for $825 million with Hypera S.A. for select non-core products in Latin America which remains subject to close.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TSE:4502/NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing Better Health and a Brighter Future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people’s lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.

For more information, visit

Important Notice

For the purposes of this notice, press release means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (Takeda) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.

The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, Takeda is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words we, us and our are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takedas future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as targets, plans, believes, hopes, continues, expects, aims, intends, ensures, will, may, should, would, could anticipates, estimates, projects or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takedas global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations; the success of or failure of product development programs; decisions of regulatory authorities and the timing thereof; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takedas operations and the timing of any such divestment(s); and other factors identified in Takedas most recent Annual Report on Form 20-F and Takedas other reports filed with the U.S. Securities and Exchange Commission, available on Takedas website at: or at Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takedas future results.

Japanese Media

Kazumi Kobayashi

[email protected]

+81 (0) 3-3278-2095

Media outside Japan

Justine Grosvenor

[email protected]

+1 872 226 6701

Investor Relations Contact:

Christopher O’Reilly

[email protected]

+81 (0) 3-3278-2306

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VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) a global provider of secure,...

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Spectra7 Announces Third Quarter Financial Results

(TSX-V:SEV) Spectra7 Microsystems Inc. (Spectra7 or the Company), a leading provider of high-performance analog semiconductor products for broadband connectivity markets,...

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Oshkosh Corporation to Present at the Credit Suisse 8th Annual Virtual Industrials Conference

Oshkosh Corporation (NYSE:OSK), a leading innovator of mission-critical vehicles and essential equipment, announced today that it will present at the...