Toyo Suisan Kaisha Ltd. revised earnings guidance for the year 2023.  For the year, the company expects Operating revenue of JPY 2,350 million, operating income of JPY 146 million, Net income of JPY 170 million and basic earnings per share of JPY 2.84. StemRIM did not disclose earnings forecasts for the fiscal year ending July 2023 (August 1, 2022, to July 31, 2023) earlier, as it was difficult to reasonably predict the timing of milestone
income related to development progress, which is heavily dependent on the development strategy and schedule of partners. Instead, StemRIM disclosed a range of cash outflows that could be reasonably calculated (expected cash outflows for research and development were between JPY 1,200 million - JPY 1,600 million, and those for general administration were between JPY 230 million - JPY 300 million). StemRIM revised the cash flow projections for the fiscal year ending July 2023 based on the achievement of this milestone, and the information and forecasts available at this time, as follows: Research and development expenses to range from JPY 1,400 million - JPY 1,600 million yen.General and administrative expenses to range from JPY 250 million - JPY 300 million yen. There is a possibility of one-time payments related to new partnerships. There is a possibility of milestone revenue from existing partnerships for pipeline products.