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
Finished goods ca IFRSCurrentYearInstant1050000000JPY
Work in process ca IFRSPrior1YearInstant864000000JPY
Work in process ca IFRSCurrentYearInstant1574000000JPY
Raw materials and supplies ca IFRSPrior1YearInstant783000000JPY
Raw materials and supplies ca IFRSCurrentYearInstant937000000JPY
Inventories ca IFRSPrior1YearInstant2529000000JPY
Inventories ca IFRSCurrentYearInstant3752000000JPY
Employee benefits st cost of sales and selling general and administrative expenses IFRSPrior1YearDuration7526000000JPY
Employee benefits st cost of sales and selling general and administrative expenses IFRSCurrentYearDuration9577000000JPY
Personnel expenses sga IFRSPrior1YearDuration5074000000JPY
Personnel expenses sga IFRSCurrentYearDuration7693000000JPY
Advertising expenses IFRSPrior1YearDuration4681000000JPY
Advertising expenses IFRSCurrentYearDuration4461000000JPY
Commission expenses sga IFRSPrior1YearDuration1862000000JPY
Commission expenses sga IFRSCurrentYearDuration2056000000JPY
Other sga IFRSPrior1YearDuration3006000000JPY
Other sga IFRSCurrentYearDuration3231000000JPY
Selling general and administrative expenses IFRSPrior1YearDuration15771000000JPY
Selling general and administrative expenses IFRSCurrentYearDuration18989000000JPY
Gain on valuation of investment securities other income IFRSPrior1YearDuration-JPY
Gain on valuation of investment securities other income IFRSCurrentYearDuration139000000JPY
Government grant income IFRSPrior1YearDuration22000000JPY
Government grant income IFRSCurrentYearDuration197000000JPY
Other other income IFRSPrior1YearDuration2412000000JPY
Other other income IFRSCurrentYearDuration189000000JPY
Other income IFRSPrior1YearDuration2434000000JPY
Other income IFRSCurrentYearDuration527000000JPY
Loss on retirement of property plant and equipment IFRSPrior1YearDuration9000000JPY
Loss on retirement of property plant and equipment IFRSCurrentYearDuration3000000JPY
Impairment losses pl IFRSPrior1YearDuration-JPY
Impairment losses pl IFRSCurrentYearDuration671000000JPY
Loss on valuation of investment securities other expenses IFRSPrior1YearDuration148000000JPY
Loss on valuation of investment securities other expenses IFRSCurrentYearDuration-JPY
Donations IFRSPrior1YearDuration217000000JPY
Donations IFRSCurrentYearDuration254000000JPY
Loss on derivatives other expenses IFRSPrior1YearDuration-JPY
Loss on derivatives other expenses IFRSCurrentYearDuration630000000JPY
Other other expenses IFRSPrior1YearDuration110000000JPY
Other other expenses IFRSCurrentYearDuration143000000JPY
Other expenses IFRSPrior1YearDuration485000000JPY
Other expenses IFRSCurrentYearDuration1704000000JPY
Fixed deposit interest income IFRSPrior1YearDuration645000000JPY
Fixed deposit interest income IFRSCurrentYearDuration571000000JPY
Loan interest income IFRSPrior1YearDuration0JPY
Loan interest income IFRSCurrentYearDuration-JPY
Leasehold and guarantee deposits interest income IFRSPrior1YearDuration2000000JPY
Leasehold and guarantee deposits interest income IFRSCurrentYearDuration2000000JPY
Other finance income IFRSPrior1YearDuration59000000JPY
Other finance income IFRSCurrentYearDuration5000000JPY
Finance income IFRSPrior1YearDuration707000000JPY

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