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
Cash flows from used in operating activities IFRS (5-year summary)CurrentYearDuration-2408000000JPY
Cash flows from used in investing activities IFRS (5-year summary)Prior4YearDuration-260000000JPY
Cash flows from used in investing activities IFRS (5-year summary)Prior3YearDuration-4116000000JPY
Cash flows from used in investing activities IFRS (5-year summary)Prior2YearDuration-6842000000JPY
Cash flows from used in investing activities IFRS (5-year summary)Prior1YearDuration-10361000000JPY
Cash flows from used in investing activities IFRS (5-year summary)CurrentYearDuration-536000000JPY
Cash flows from used in financing activities IFRS (5-year summary)Prior4YearDuration2853000000JPY
Cash flows from used in financing activities IFRS (5-year summary)Prior3YearDuration-646000000JPY
Cash flows from used in financing activities IFRS (5-year summary)Prior2YearDuration10686000000JPY
Cash flows from used in financing activities IFRS (5-year summary)Prior1YearDuration694000000JPY
Cash flows from used in financing activities IFRS (5-year summary)CurrentYearDuration13738000000JPY
Cash and cash equivalents IFRS (5-year summary)Prior4YearInstant14352000000JPY
Cash and cash equivalents IFRS (5-year summary)Prior3YearInstant11049000000JPY
Cash and cash equivalents IFRS (5-year summary)Prior2YearInstant21633000000JPY
Cash and cash equivalents IFRS (5-year summary)Prior1YearInstant10115000000JPY
Cash and cash equivalents IFRS (5-year summary)CurrentYearInstant21101000000JPY
Number of employeesPrior4YearInstant629
Number of employeesPrior3YearInstant701
Number of employeesPrior2YearInstant843
Number of employeesPrior1YearInstant867
Number of employeesCurrentYearInstant990
Average number of temporary workersPrior4YearInstant12.3
Average number of temporary workersPrior3YearInstant14.3
Average number of temporary workersPrior2YearInstant22.1
Average number of temporary workersPrior1YearInstant28.5
Average number of temporary workersCurrentYearInstant49.8
Net sales (5-year summary)Prior4YearDuration_NonConsolidatedMember225000000JPY
Net sales (5-year summary)Prior3YearDuration_NonConsolidatedMember22000000JPY
Net sales (5-year summary)Prior2YearDuration_NonConsolidatedMember22000000JPY
Net sales (5-year summary)Prior1YearDuration_NonConsolidatedMember24000000JPY
Net sales (5-year summary)CurrentYearDuration_NonConsolidatedMember21000000JPY
Ordinary income loss (5-year summary)Prior4YearDuration_NonConsolidatedMember-436000000JPY
Ordinary income loss (5-year summary)Prior3YearDuration_NonConsolidatedMember-552000000JPY
Ordinary income loss (5-year summary)Prior2YearDuration_NonConsolidatedMember-30000000JPY
Ordinary income loss (5-year summary)Prior1YearDuration_NonConsolidatedMember5903000000JPY
Ordinary income loss (5-year summary)CurrentYearDuration_NonConsolidatedMember-1948000000JPY
Net income loss (5-year summary)Prior4YearDuration_NonConsolidatedMember-437000000JPY
Net income loss (5-year summary)Prior3YearDuration_NonConsolidatedMember-1210000000JPY
Net income loss (5-year summary)Prior2YearDuration_NonConsolidatedMember-1046000000JPY
Net income loss (5-year summary)Prior1YearDuration_NonConsolidatedMember5903000000JPY
Net income loss (5-year summary)CurrentYearDuration_NonConsolidatedMember-1820000000JPY
Capital stock (5-year summary)Prior4YearInstant_NonConsolidatedMember10884000000JPY
Capital stock (5-year summary)Prior3YearInstant_NonConsolidatedMember10899000000JPY
Capital stock (5-year summary)Prior2YearInstant_NonConsolidatedMember13068000000JPY
Capital stock (5-year summary)Prior1YearInstant_NonConsolidatedMember13296000000JPY
Capital stock (5-year summary)CurrentYearInstant_NonConsolidatedMember19855000000JPY
Total number of issued shares (5-year summary)Prior4YearInstant_NonConsolidatedMember47462943
Total number of issued shares (5-year summary)Prior3YearInstant_NonConsolidatedMember47487843
Total number of issued shares (5-year summary)Prior2YearInstant_NonConsolidatedMember49857243
Total number of issued shares (5-year summary)Prior1YearInstant_NonConsolidatedMember50168243

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