Worth reading
65In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
60
¥100 millionWording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales-99.2%
基準 3,871Target30million / ¥100 million
Operating profit+66.7%
基準 300Target500million / ¥100 million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
ROENot disclosed → 8% (FY30/6)
Only the target level is shown because the current level for comparison was not provided.Total investment planAmount Approximately ¥2.5 billion in total / Period Through FY30/6 / Subject M&A
Investment amount by sectorField M&A / Amount Approximately ¥2.5 billion in total, Field Per M&A transaction / Amount Several hundred million yen to ¥1 billion per transaction
Statements about the use of capital
Payout ratio / DOE policySet the minimum annual dividend per share at ¥10 through FY30/6, and review the dividend policy as needed in line with earnings growth. Numerical targets for the payout ratio and DOE: Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceMaintaining a PBR of at least 1x is a key management objective. PBR was 0.91x as of June 2026, and the company plans to strengthen its growth strategy and investor relations activities to raise PBR above 1x.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01CORE / Core Strategy
02Integrated Healthcare Platform
03Overseas Expansion
04M&A
05Prevention and self-medication
06Expansion of services into treatment
07Strengthen overseas operations
08Shareholder Returns
09Investor relations initiatives
Plan assumptionsThere are approximately 600 food-based intervention clinical trials annually, and stable demand for trials is expected from 2026 onward., Japan’s domestic market for data health plan-related services: ¥138.2 billion in 2019 and ¥181.5 billion in 2030, Japan’s domestic OTC drug market: ¥1.55 trillion in 2024 and ¥2.47 trillion in 2033; market growth rate of 5.29% (2025–2033), Global lactoferrin market: ¥42.9 billion in 2023 and ¥76 billion in 2032; CAGR of 6.4%, The company is targeting the Chinese health food market and the health food markets of 5 Southeast Asian countries for overseas expansion., Some market sizes were converted at ¥148 to US$1.
Segment targetSegment Integrated Healthcare Platform Business / Timing FY30/6 / Net Sales ¥3.5 billion / Operating profit ¥500 million / Number of Purchasers/Users 100,000 people, Segment Group total / Timing FY30/6 / Net Sales ¥6 billion / Operating profit ¥500 million / ROE 8％
Non-financial targetsIndicator Number of purchasers and users of the Integrated Healthcare Platform / Target value 100,000 people / Timing FY30/6
Size of the Target MarketMarket Food-based intervention clinical trials / Scale Approximately 600 annually / Source Company research based on the number of publicly available registrations in UMIN-CTR, Market Japan’s domestic market for data health plan-related services / Scale ¥138.2 billion in 2019; ¥181.5 billion in 2030 / Source Fuji Keizai, Press Release No.25054, Market Japan’s domestic OTC drug market / Scale ¥1.55 trillion in 2024; ¥2.47 trillion in 2033; growth rate of 5.29% (2025–2033) / Source IMARC, Market Global lactoferrin market / Scale ¥42.9 billion in 2023; ¥76 billion in 2032; CAGR of 6.4% / Source IMARC, Market Chinese health food market / Scale Approximately ¥7.8 trillion in 2023 / Source iiMedia Research, Market Health food markets in 5 Southeast Asian countries / Scale Approximately ¥770 billion in 2023 / Source TPC Marketing Research
Reason for revision or withdrawal
Because, following the change in reporting segments, the former “Healthcare Support Business” was renamed the “Corporate Healthcare Support Business,” while the former “Health Supplement Business,” “Cosmetics Business” and “Functional Materials Development Business” were consolidated and renamed the “Healthcare Platform Business.” The company will address pressure on medical resources and rising medical costs associated with population aging, and leverage its existing assets to help build a society centered on self-medication and advance medical DX.
| Item | Details |
|---|---|
| Plan name | Explanatory Material on Business Plans and Growth Potential |
| Plan period | FY27/6–FY30/6 |
| Progress against the plan | Partially revised |
| Sales Target | FY26/6 actual: ¥3,871 million; FY27/6: ¥3,270 million → FY30/6: ¥6 billion |
| Operating profit target | FY26/6 actual: ¥275 million; FY27/6: ¥300 million → FY30/6: ¥500 million |
| ROE target | Not disclosed → 8% (FY30/6) |
| Payout ratio / DOE policy | Set the minimum annual dividend per share at ¥10 through FY30/6, and review the dividend policy as needed in line with earnings growth. Numerical targets for the payout ratio and DOE: Not disclosed. |
| Self-assessment of PBR and share price | Maintaining a PBR of at least 1x is a key management objective. PBR was 0.91x as of June 2026, and the company plans to strengthen its growth strategy and investor relations activities to raise PBR above 1x. |
| Total investment plan | Amount Approximately ¥2.5 billion in total / Period Through FY30/6 / Subject M&A |
| Investment amount by sector | Field M&A / Amount Approximately ¥2.5 billion in total, Field Per M&A transaction / Amount Several hundred million yen to ¥1 billion per transaction |
| Segment target | Segment Integrated Healthcare Platform Business / Timing FY30/6 / Net Sales ¥3.5 billion / Operating profit ¥500 million / Number of Purchasers/Users 100,000 people, Segment Group total / Timing FY30/6 / Net Sales ¥6 billion / Operating profit ¥500 million / ROE 8％ |
| Non-financial targets | Indicator Number of purchasers and users of the Integrated Healthcare Platform / Target value 100,000 people / Timing FY30/6 |
| Plan assumptions | There are approximately 600 food-based intervention clinical trials annually, and stable demand for trials is expected from 2026 onward., Japan’s domestic market for data health plan-related services: ¥138.2 billion in 2019 and ¥181.5 billion in 2030, Japan’s domestic OTC drug market: ¥1.55 trillion in 2024 and ¥2.47 trillion in 2033; market growth rate of 5.29% (2025–2033), Global lactoferrin market: ¥42.9 billion in 2023 and ¥76 billion in 2032; CAGR of 6.4%, The company is targeting the Chinese health food market and the health food markets of 5 Southeast Asian countries for overseas expansion., Some market sizes were converted at ¥148 to US$1. |
| Key initiatives | CORE / Core Strategy, Integrated Healthcare Platform, Overseas Expansion, M&A, Prevention and self-medication, Expansion of services into treatment, Strengthen overseas operations, Shareholder Returns, Investor relations initiatives |
| Reason for revision or withdrawal | Because, following the change in reporting segments, the former “Healthcare Support Business” was renamed the “Corporate Healthcare Support Business,” while the former “Health Supplement Business,” “Cosmetics Business” and “Functional Materials Development Business” were consolidated and renamed the “Healthcare Platform Business.” The company will address pressure on medical resources and rising medical costs associated with population aging, and leverage its existing assets to help build a society centered on self-medication and advance medical DX. |
| Size of the Target Market | Market Food-based intervention clinical trials / Scale Approximately 600 annually / Source Company research based on the number of publicly available registrations in UMIN-CTR, Market Japan’s domestic market for data health plan-related services / Scale ¥138.2 billion in 2019; ¥181.5 billion in 2030 / Source Fuji Keizai, Press Release No.25054, Market Japan’s domestic OTC drug market / Scale ¥1.55 trillion in 2024; ¥2.47 trillion in 2033; growth rate of 5.29% (2025–2033) / Source IMARC, Market Global lactoferrin market / Scale ¥42.9 billion in 2023; ¥76 billion in 2032; CAGR of 6.4% / Source IMARC, Market Chinese health food market / Scale Approximately ¥7.8 trillion in 2023 / Source iiMedia Research, Market Health food markets in 5 Southeast Asian countries / Scale Approximately ¥770 billion in 2023 / Source TPC Marketing Research |
Items this document does not state (9)
Operating profit margin targetNet income targetROIC targetTreasury share acquisition policyCost of capitalResults under the previous planRisks identifiedDate of board resolutionPublication date
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Changes accompanying the 12 August 2026 announcement, “Notice Regarding Changes to Reporting Segments.” The company also cites the need to address pressure on medical resources and rising medical costs resulting from population aging, as well as the ability to leverage its existing evidence base, customer touchpoints, products and e-commerce platform, as the background to the new business.
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