Front-loaded investment in research and development
First written in FY2024. 3 of 4 entries say "Restated". Latest entry: FY2027-H1.
The whole theme swung hardest in 2022: 1 of 8 companies on the "Worse" side.
2 other companies' latest entry also says "Restated".
- FY2027-H1RestatedAnnual report
「The amount spent on research and development activities during the interim accounting period was ¥779,927 thousand. There were no significant changes in the status of the Company's research and development activities during the interim accounting period.」
R&D activities continued, with R&D expenses of ¥779,927 thousand during the interim accounting period. No significant change in R&D activities was reported. - FY2025RestatedAnnual report
「The number of employees engaged in research and development was 28, and total R&D expenses for the fiscal year were ¥2,032,919 thousand, accounting for a significant 73.8% of total selling, general and administrative expenses.」
R&D expenses were ¥2,032,919 thousand, or 73.8% of selling, general and administrative expenses, continuing the front-loaded R&D spending structure. - FY2026-H1RestatedAnnual report
「The amount spent on research and development activities during the interim accounting period was ¥722,233 thousand. There were no significant changes in the status of the Company's research and development activities during the interim accounting period.」
R&D activities continued, with R&D expenses of ¥722,233 thousand during the interim accounting period. No significant change in R&D activities was reported. - FY2024First statedAnnual report
「The number of employees engaged in research and development was 29, and total R&D expenses for the fiscal year were ¥1,441,540 thousand, accounting for a significant 75.4% of total selling, general and administrative expenses.」
R&D remains the largest expense category, with clinical application being accelerated primarily for HS-001.