Annual report

Period2025-01-01 → 2025-12-31
Filed2026-03-27
StandardIFRS
ConsolidatedYes
Data checks21 of 21 passed
Key figures · 147
MetricValuePeriodScopeSource row
Revenue¥26.8bn2025-01-01 → 2025-12-31Cons.Revenue IFRS
Revenue¥23.6bn2024-01-01 → 2024-12-31Cons.Revenue IFRS
Revenue¥26.0bn2023-01-01 → 2023-12-31vCons.Revenue IFRS (5-year summary)
Revenue¥17.4bn2022-01-01 → 2022-12-31vCons.Revenue IFRS (5-year summary)
Revenue¥12.7bn2021-01-01 → 2021-12-31dCons.Revenue IFRS (5-year summary)
Operating income−¥3.5bn2025-01-01 → 2025-12-31Cons.Operating profit loss IFRS
Operating income¥1.4bn2024-01-01 → 2024-12-31Cons.Operating profit loss IFRS
Profit before tax−¥4.6bn2025-01-01 → 2025-12-31Cons.Profit loss before tax IFRS
Profit before tax¥238m2024-01-01 → 2024-12-31Cons.Profit loss before tax IFRS
Profit before tax¥12.6bn2023-01-01 → 2023-12-31vCons.Profit loss before tax IFRS (5-year summary)
Profit before tax¥767m2022-01-01 → 2022-12-31vCons.Profit loss before tax IFRS (5-year summary)
Profit before tax¥1.1bn2021-01-01 → 2021-12-31dCons.Profit loss before tax IFRS (5-year summary)
Net income (owners)−¥4.2bn2025-01-01 → 2025-12-31Cons.Profit loss attributable to owners of parent IFRS
Net income (owners)¥1.1bn2024-01-01 → 2024-12-31Cons.Profit loss attributable to owners of parent IFRS
Net income (owners)¥8.1bn2023-01-01 → 2023-12-31vCons.Profit loss attributable to owners of parent IFRS (5-year summary)
Net income (owners)¥388m2022-01-01 → 2022-12-31vCons.Profit loss attributable to owners of parent IFRS (5-year summary)
Net income (owners)¥1.1bn2021-01-01 → 2021-12-31dCons.Profit loss attributable to owners of parent IFRS (5-year summary)
Net income−¥7.2bn2025-01-01 → 2025-12-31Cons.Profit loss IFRS
Net income−¥9m2024-01-01 → 2024-12-31Cons.Profit loss IFRS
Net income¥9.5bn2023-01-01 → 2023-12-31vCons.Profit loss IFRS (5-year summary)
Net income−¥868m2022-01-01 → 2022-12-31vCons.Profit loss IFRS (5-year summary)
Net income¥55m2021-01-01 → 2021-12-31dCons.Profit loss IFRS (5-year summary)
Total assets¥83.8bnat 2025-12-31Cons.Assets IFRS
Total assets¥71.9bnat 2024-12-31Cons.Assets IFRS
Total assets¥64.3bnat 2023-12-31vCons.Total assets IFRS (5-year summary)
Total assets¥33.9bnat 2022-12-31vCons.Total assets IFRS (5-year summary)
Total assets¥30.3bnat 2021-12-31dCons.Total assets IFRS (5-year summary)
Total liabilities¥31.9bnat 2025-12-31Cons.Liabilities IFRS
Total liabilities¥32.2bnat 2024-12-31Cons.Liabilities IFRS
Net assets / equity¥51.8bnat 2025-12-31Cons.Equity IFRS
Net assets / equity¥39.7bnat 2024-12-31Cons.Equity IFRS
Net assets / equity¥36.5bnat 2023-12-31vCons.Equity IFRS
Equity (owners)¥50.3bnat 2025-12-31Cons.Equity attributable to owners of parent IFRS
Equity (owners)¥36.4bnat 2024-12-31Cons.Equity attributable to owners of parent IFRS
Equity (owners)¥33.8bnat 2023-12-31vCons.Equity attributable to owners of parent IFRS (5-year summary)
Equity (owners)¥21.0bnat 2022-12-31vCons.Equity attributable to owners of parent IFRS (5-year summary)
Equity (owners)¥18.9bnat 2021-12-31dCons.Equity attributable to owners of parent IFRS (5-year summary)
Cash & equivalents¥21.1bnat 2025-12-31Cons.Cash and cash equivalents IFRS
Cash & equivalents¥10.1bnat 2024-12-31Cons.Cash and cash equivalents IFRS
Cash & equivalents¥21.6bnat 2023-12-31vCons.Cash and cash equivalents IFRS
Cash & equivalents¥11.0bnat 2022-12-31vCons.Cash and cash equivalents IFRS (5-year summary)
Cash & equivalents¥14.4bnat 2021-12-31dCons.Cash and cash equivalents IFRS (5-year summary)
Operating cash flow−¥2.4bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in operating activities IFRS
Operating cash flow−¥3.2bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in operating activities IFRS
Operating cash flow¥6.5bn2023-01-01 → 2023-12-31vCons.Cash flows from used in operating activities IFRS (5-year summary)
Operating cash flow¥393m2022-01-01 → 2022-12-31vCons.Cash flows from used in operating activities IFRS (5-year summary)
Operating cash flow¥552m2021-01-01 → 2021-12-31dCons.Cash flows from used in operating activities IFRS (5-year summary)
Investing cash flow−¥536m2025-01-01 → 2025-12-31Cons.Net cash provided by used in investing activities IFRS
Investing cash flow−¥10.4bn2024-01-01 → 2024-12-31Cons.Net cash provided by used in investing activities IFRS
Investing cash flow−¥6.8bn2023-01-01 → 2023-12-31vCons.Cash flows from used in investing activities IFRS (5-year summary)
Investing cash flow−¥4.1bn2022-01-01 → 2022-12-31vCons.Cash flows from used in investing activities IFRS (5-year summary)
Investing cash flow−¥260m2021-01-01 → 2021-12-31dCons.Cash flows from used in investing activities IFRS (5-year summary)
Financing cash flow¥13.7bn2025-01-01 → 2025-12-31Cons.Net cash provided by used in financing activities IFRS
Financing cash flow¥694m2024-01-01 → 2024-12-31Cons.Net cash provided by used in financing activities IFRS
Financing cash flow¥10.7bn2023-01-01 → 2023-12-31vCons.Cash flows from used in financing activities IFRS (5-year summary)
Financing cash flow−¥646m2022-01-01 → 2022-12-31vCons.Cash flows from used in financing activities IFRS (5-year summary)
Financing cash flow¥2.9bn2021-01-01 → 2021-12-31dCons.Cash flows from used in financing activities IFRS (5-year summary)
EPS (basic)¥-80.92025-01-01 → 2025-12-31Cons.Basic earnings loss per share IFRS
EPS (basic)¥21.962024-01-01 → 2024-12-31Cons.Basic earnings loss per share IFRS
EPS (basic)¥169.52023-01-01 → 2023-12-31vCons.Basic earnings loss per share IFRS (5-year summary)
EPS (basic)¥8.192022-01-01 → 2022-12-31vCons.Basic earnings loss per share IFRS (5-year summary)
EPS (basic)¥22.722021-01-01 → 2021-12-31dCons.Basic earnings loss per share IFRS (5-year summary)
EPS (diluted)¥-80.92025-01-01 → 2025-12-31Cons.Diluted earnings loss per share IFRS
EPS (diluted)¥21.152024-01-01 → 2024-12-31Cons.Diluted earnings loss per share IFRS
EPS (diluted)¥165.562023-01-01 → 2023-12-31vCons.Diluted earnings loss per share IFRS (5-year summary)
EPS (diluted)¥8.112022-01-01 → 2022-12-31vCons.Diluted earnings loss per share IFRS (5-year summary)
EPS (diluted)¥22.082021-01-01 → 2021-12-31dCons.Diluted earnings loss per share IFRS (5-year summary)
Net assets per share¥903.93at 2025-12-31Cons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥726.67at 2024-12-31Cons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥678.01at 2023-12-31vCons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥441.59at 2022-12-31vCons.Equity to asset ratio IFRS (5-year summary)
Net assets per share¥397.38at 2021-12-31dCons.Equity to asset ratio IFRS (5-year summary)
Equity ratio60.1%at 2025-12-31Cons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio50.7%at 2024-12-31Cons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio52.6%at 2023-12-31vCons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio61.8%at 2022-12-31vCons.Ratio of owners equity to gross assets IFRS (5-year summary)
Equity ratio62.3%at 2021-12-31dCons.Ratio of owners equity to gross assets IFRS (5-year summary)
ROE-9.8%2025-01-01 → 2025-12-31Cons.Rate of return on equity IFRS (5-year summary)
ROE3.1%2024-01-01 → 2024-12-31Cons.Rate of return on equity IFRS (5-year summary)
ROE29.6%2023-01-01 → 2023-12-31vCons.Rate of return on equity IFRS (5-year summary)
ROE2.0%2022-01-01 → 2022-12-31vCons.Rate of return on equity IFRS (5-year summary)
ROE7.1%2021-01-01 → 2021-12-31dCons.Rate of return on equity IFRS (5-year summary)
Employees990at 2025-12-31Cons.Number of employees
Employees867at 2024-12-31Cons.Number of employees
Employees843at 2023-12-31vCons.Number of employees
Employees701at 2022-12-31vCons.Number of employees
Employees629at 2021-12-31dCons.Number of employees
Revenue¥21m2025-01-01 → 2025-12-31StandaloneNet sales
Revenue¥24m2024-01-01 → 2024-12-31StandaloneNet sales
Revenue¥22m2023-01-01 → 2023-12-31vStandaloneNet sales (5-year summary)
Revenue¥22m2022-01-01 → 2022-12-31vStandaloneNet sales (5-year summary)
Revenue¥225m2021-01-01 → 2021-12-31dStandaloneNet sales (5-year summary)
Operating income−¥662m2025-01-01 → 2025-12-31StandaloneOperating income
Operating income−¥657m2024-01-01 → 2024-12-31StandaloneOperating income
Ordinary income−¥1.9bn2025-01-01 → 2025-12-31StandaloneOrdinary income
Ordinary income¥5.9bn2024-01-01 → 2024-12-31StandaloneOrdinary income
Ordinary income−¥30m2023-01-01 → 2023-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥552m2022-01-01 → 2022-12-31vStandaloneOrdinary income loss (5-year summary)
Ordinary income−¥436m2021-01-01 → 2021-12-31dStandaloneOrdinary income loss (5-year summary)
Profit before tax−¥2.3bn2025-01-01 → 2025-12-31StandaloneIncome before income taxes
Profit before tax¥5.9bn2024-01-01 → 2024-12-31StandaloneIncome before income taxes
Net income−¥1.8bn2025-01-01 → 2025-12-31StandaloneProfit loss
Net income¥5.9bn2024-01-01 → 2024-12-31StandaloneProfit loss
Net income−¥1.0bn2023-01-01 → 2023-12-31vStandaloneNet income loss (5-year summary)
Net income−¥1.2bn2022-01-01 → 2022-12-31vStandaloneNet income loss (5-year summary)
Net income−¥437m2021-01-01 → 2021-12-31dStandaloneNet income loss (5-year summary)
Total assets¥48.8bnat 2025-12-31StandaloneAssets
Total assets¥39.9bnat 2024-12-31StandaloneAssets
Total assets¥30.6bnat 2023-12-31vStandaloneTotal assets (5-year summary)
Total assets¥15.5bnat 2022-12-31vStandaloneTotal assets (5-year summary)
Total assets¥16.5bnat 2021-12-31dStandaloneTotal assets (5-year summary)
Total liabilities¥13.5bnat 2025-12-31StandaloneLiabilities
Total liabilities¥15.9bnat 2024-12-31StandaloneLiabilities
Net assets / equity¥35.4bnat 2025-12-31StandaloneNet assets
Net assets / equity¥24.1bnat 2024-12-31StandaloneNet assets
Net assets / equity¥17.7bnat 2023-12-31vStandaloneNet assets
Net assets / equity¥14.6bnat 2022-12-31vStandaloneNet assets (5-year summary)
Net assets / equity¥15.7bnat 2021-12-31dStandaloneNet assets (5-year summary)
Cash and deposits¥11.8bnat 2025-12-31StandaloneCash and deposits
Cash and deposits¥1.5bnat 2024-12-31StandaloneCash and deposits
EPS (basic)¥-34.712025-01-01 → 2025-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥118.062024-01-01 → 2024-12-31StandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-21.922023-01-01 → 2023-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-25.52022-01-01 → 2022-12-31vStandaloneBasic earnings loss per share (5-year summary)
EPS (basic)¥-9.332021-01-01 → 2021-12-31dStandaloneBasic earnings loss per share (5-year summary)
EPS (diluted)¥113.72024-01-01 → 2024-12-31StandaloneDiluted earnings per share (5-year summary)
Net assets per share¥635.34at 2025-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥480.08at 2024-12-31StandaloneNet assets per share (5-year summary)
Net assets per share¥355.54at 2023-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥306.75at 2022-12-31vStandaloneNet assets per share (5-year summary)
Net assets per share¥329.22at 2021-12-31dStandaloneNet assets per share (5-year summary)
Equity ratio72.4%at 2025-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio60.2%at 2024-12-31StandaloneEquity to asset ratio (5-year summary)
Equity ratio57.8%at 2023-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio93.0%at 2022-12-31vStandaloneEquity to asset ratio (5-year summary)
Equity ratio94.5%at 2021-12-31dStandaloneEquity to asset ratio (5-year summary)
ROE28.2%2024-01-01 → 2024-12-31StandaloneRate of return on equity (5-year summary)
Shares issued55,682,069at 2025-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued50,168,243at 2024-12-31StandaloneTotal number of issued shares (5-year summary)
Shares issued49,857,243at 2023-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued47,487,843at 2022-12-31vStandaloneTotal number of issued shares (5-year summary)
Shares issued47,462,943at 2021-12-31dStandaloneTotal number of issued shares (5-year summary)
Employees14at 2025-12-31StandaloneNumber of employees
Employees15at 2024-12-31StandaloneNumber of employees
Employees10at 2023-12-31vStandaloneNumber of employees
Employees9at 2022-12-31vStandaloneNumber of employees
Employees7at 2021-12-31dStandaloneNumber of employees

Periods use the dates stated in the filing. d = earlier-year period dated by calendar; v = that date confirmed by the company's own earlier filing.

Segments · 20
SegmentItemPeriodValue
Medical Devicereportable segmentemployeesat 2025-12-31193 pure
Medical Devicereportable segmentrevenue2025-01-01 → 2025-12-31¥7.7bn
Medical Devicereportable segmentrevenue external2025-01-01 → 2025-12-31¥7.7bn
Medical Devicereportable segmentsegment profit2025-01-01 → 2025-12-31¥533m
Pharmaceuticalreportable segmentemployeesat 2025-12-31797 pure
Pharmaceuticalreportable segmentrevenue2025-01-01 → 2025-12-31¥19.2bn
Pharmaceuticalreportable segmentrevenue external2025-01-01 → 2025-12-31¥19.2bn
Pharmaceuticalreportable segmentsegment profit2025-01-01 → 2025-12-31−¥4.0bn
—segment totalrevenue2025-01-01 → 2025-12-31¥26.8bn
—segment totalrevenue external2025-01-01 → 2025-12-31¥26.8bn
—segment totalsegment profit2025-01-01 → 2025-12-31−¥3.5bn
Medical Devicereportable segmentrevenue2024-01-01 → 2024-12-31¥5.3bn
Medical Devicereportable segmentrevenue external2024-01-01 → 2024-12-31¥5.3bn
Medical Devicereportable segmentsegment profit2024-01-01 → 2024-12-31¥1.0bn
Pharmaceuticalreportable segmentrevenue2024-01-01 → 2024-12-31¥18.3bn
Pharmaceuticalreportable segmentrevenue external2024-01-01 → 2024-12-31¥18.3bn
Pharmaceuticalreportable segmentsegment profit2024-01-01 → 2024-12-31¥371m
—segment totalrevenue2024-01-01 → 2024-12-31¥23.6bn
—segment totalrevenue external2024-01-01 → 2024-12-31¥23.6bn
—segment totalsegment profit2024-01-01 → 2024-12-31¥1.4bn

Segment names come from EDINET member IDs; not yet mapped to a common taxonomy.

All source rows · 1,753
ItemContextValueUnit
Comprehensive income IFRS (5-year summary)CurrentYearDuration-6327000000JPY
Comprehensive income attributable to owners of parent IFRS (5-year summary)Prior4YearDuration2378000000JPY
Comprehensive income attributable to owners of parent IFRS (5-year summary)Prior3YearDuration1811000000JPY
Comprehensive income attributable to owners of parent IFRS (5-year summary)Prior2YearDuration8916000000JPY
Comprehensive income attributable to owners of parent IFRS (5-year summary)Prior1YearDuration3140000000JPY
Comprehensive income attributable to owners of parent IFRS (5-year summary)CurrentYearDuration-3791000000JPY
Equity attributable to owners of parent IFRS (5-year summary)Prior4YearInstant18860000000JPY
Equity attributable to owners of parent IFRS (5-year summary)Prior3YearInstant20969000000JPY
Equity attributable to owners of parent IFRS (5-year summary)Prior2YearInstant33794000000JPY
Equity attributable to owners of parent IFRS (5-year summary)Prior1YearInstant36446000000JPY
Equity attributable to owners of parent IFRS (5-year summary)CurrentYearInstant50320000000JPY
Total assets IFRS (5-year summary)Prior4YearInstant30296000000JPY
Total assets IFRS (5-year summary)Prior3YearInstant33906000000JPY
Total assets IFRS (5-year summary)Prior2YearInstant64269000000JPY
Total assets IFRS (5-year summary)Prior1YearInstant71942000000JPY
Total assets IFRS (5-year summary)CurrentYearInstant83791000000JPY
Equity to asset ratio IFRS (5-year summary)Prior4YearInstant397.38
Equity to asset ratio IFRS (5-year summary)Prior3YearInstant441.59
Equity to asset ratio IFRS (5-year summary)Prior2YearInstant678.01
Equity to asset ratio IFRS (5-year summary)Prior1YearInstant726.67
Equity to asset ratio IFRS (5-year summary)CurrentYearInstant903.93
Basic earnings loss per share IFRS (5-year summary)Prior4YearDuration22.72
Basic earnings loss per share IFRS (5-year summary)Prior3YearDuration8.19
Basic earnings loss per share IFRS (5-year summary)Prior2YearDuration169.50
Basic earnings loss per share IFRS (5-year summary)Prior1YearDuration21.96
Basic earnings loss per share IFRS (5-year summary)CurrentYearDuration-80.90
Diluted earnings loss per share IFRS (5-year summary)Prior4YearDuration22.08
Diluted earnings loss per share IFRS (5-year summary)Prior3YearDuration8.11
Diluted earnings loss per share IFRS (5-year summary)Prior2YearDuration165.56
Diluted earnings loss per share IFRS (5-year summary)Prior1YearDuration21.15
Diluted earnings loss per share IFRS (5-year summary)CurrentYearDuration-80.90
Ratio of owners equity to gross assets IFRS (5-year summary)Prior4YearInstant0.623
Ratio of owners equity to gross assets IFRS (5-year summary)Prior3YearInstant0.618
Ratio of owners equity to gross assets IFRS (5-year summary)Prior2YearInstant0.526
Ratio of owners equity to gross assets IFRS (5-year summary)Prior1YearInstant0.507
Ratio of owners equity to gross assets IFRS (5-year summary)CurrentYearInstant0.601
Rate of return on equity IFRS (5-year summary)Prior4YearDuration0.071
Rate of return on equity IFRS (5-year summary)Prior3YearDuration0.020
Rate of return on equity IFRS (5-year summary)Prior2YearDuration0.296
Rate of return on equity IFRS (5-year summary)Prior1YearDuration0.031
Rate of return on equity IFRS (5-year summary)CurrentYearDuration-0.098
Price earnings ratio IFRS (5-year summary)Prior4YearDuration65.18
Price earnings ratio IFRS (5-year summary)Prior3YearDuration170.09
Price earnings ratio IFRS (5-year summary)Prior2YearDuration16.70
Price earnings ratio IFRS (5-year summary)Prior1YearDuration155.05
Price earnings ratio IFRS (5-year summary)CurrentYearDuration-
Cash flows from used in operating activities IFRS (5-year summary)Prior4YearDuration552000000JPY
Cash flows from used in operating activities IFRS (5-year summary)Prior3YearDuration393000000JPY
Cash flows from used in operating activities IFRS (5-year summary)Prior2YearDuration6549000000JPY
Cash flows from used in operating activities IFRS (5-year summary)Prior1YearDuration-3164000000JPY

Every row of the EDINET CSV. Item names are the XBRL element names; filed text is kept in its original Japanese. Filed text is available on Plus and Pro.

Data checks · 21 of 21 passed
balance sheet identityconsolidated 2024-12-31pass
balance sheet identityconsolidated 2025-12-31pass rounding
balance sheet identitynon_consolidated 2024-12-31pass rounding
balance sheet identitynon_consolidated 2025-12-31pass
dei present pass
period resolution pass
statement vs summary · net assetsnon_consolidated 2023-12-31pass
statement vs summary · net assetsnon_consolidated 2024-12-31pass
statement vs summary · net assetsnon_consolidated 2025-12-31pass
statement vs summary · net income attributable to parentconsolidated 2024-01-01/2024-12-31pass
statement vs summary · net income attributable to parentconsolidated 2025-01-01/2025-12-31pass
statement vs summary · operating cash flowconsolidated 2024-01-01/2024-12-31pass
statement vs summary · operating cash flowconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenueconsolidated 2024-01-01/2024-12-31pass
statement vs summary · revenueconsolidated 2025-01-01/2025-12-31pass
statement vs summary · revenuenon_consolidated 2024-01-01/2024-12-31pass
statement vs summary · revenuenon_consolidated 2025-01-01/2025-12-31pass
statement vs summary · total assetsconsolidated 2024-12-31pass
statement vs summary · total assetsconsolidated 2025-12-31pass
statement vs summary · total assetsnon_consolidated 2024-12-31pass
statement vs summary · total assetsnon_consolidated 2025-12-31pass