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    Katsura Matsubara

    Senior Analyst at Nomura Securities

    Katsura Matsubara is a Senior Analyst at Nomura Securities, focusing on the Japanese technology and electronics sectors with targeted coverage of companies such as Sharp and Epson. With several years of experience at Nomura, Matsubara is recognized for his in-depth company analysis and industry insight, though specific public performance metrics are not widely available. His career at Nomura follows a traditional analyst trajectory within Japan’s leading investment banking group, and his professional credentials include relevant securities licenses required for analyst roles in Japan. Matsubara is regularly listed among the analysts consulted by major Japanese corporates for institutional investor relations and research insights.

    Katsura Matsubara's questions to TAKEDA PHARMACEUTICAL CO (TAK) leadership

    Katsura Matsubara's questions to TAKEDA PHARMACEUTICAL CO (TAK) leadership • Q1 2025

    Question

    Katsura Matsubara from Nomura Securities asked for the reasons behind the weak Q1 revenue performance in the U.S. and specifically for TAKHZYRO. He also inquired about the future competitive threat to TAKHZYRO from a new market entrant.

    Answer

    U.S. Business Unit President Julie Kim cited the impact of Medicare Part D redesign as a factor in the overall U.S. performance. For TAKHZYRO, she stated the product remains strong and competitive based on its long-term efficacy and safety data. CFO Milano Furuta added that the Vyvanse loss of exclusivity was the biggest driver of the soft U.S. numbers and that lower channel inventory also impacted TAKHZYRO's reported sales.

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