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Japan: Japan's Kobayashi Pharma reports 10.1 billion yen loss related to beni-koji scandal

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Storyline: Japanese drugmaker Kobayashi Pharmaceutical said on Friday that its loss related to its dietary supplements containing red yeast rice, or beni-koji, has raised to 10.1 billion yen (about 66 million U.S. dollars). The pharmaceutical company declared that, due to the adverse effects of the beni-koji supplements on consumers' health, as well as factors like product recalls and compensation, they have registered a new loss of 2.2 billion yen (about 14.41 million U.S. dollars). On the same day, Kobayashi Pharmaceutical's financial report for the first three quarters of the 2024 fiscal year showed a 65.5 percent year-on-year decrease in net profit to 5.3 billion yen (about 34.71 million U.S. dollars) and a 3.9-percent-decrease in sales to 114.4 billion yen (about 750 million U.S. dollars). At the end of March this year, Kobayashi Pharmaceutical announced that its health products containing red yeast rice may pose risks to consumers' health. An investigation by Japan's Ministry of Health, Labour and Welfare confirmed that lovastatin found in the red yeast rice ingredient of the company's health products is the cause of renal dysfunction in consumers. According to the latest data released by the ministry, as of the Nov 3, 397 consumers who used these health products have died. Shotlist: FILE: Tokyo, Japan - March 23, 2024: 1. Various of Kobayashi Pharmaceutical sign; FILE: Osaka, Japan - March 30, 2024: 2. Various of Kobayashi Pharmaceutical sign on factory gate; 3. Safety alert sign on factory building; FILE: Osaka, Japan - March 8, 2016: 4. Building of Kobayashi Pharmaceutical; 5. Sign showing Kobayashi Pharmaceutical company floors; FILE: Tokyo, Japan - March 29, 2024: 6. Resident walking into pharmacy; 7. Sign showing "Digestive Medicine"; 8. Various of recall notice of health supplement made by Kobayashi Pharmaceutical; FILE: Tokyo, Japan - March 26, 2024: 9. Various of drug store interior, shoppers; FILE: Tokyo, Japan - Date Unknown: 10. Various of pedestrians. [Restrictions : No access Chinese mainland]

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