Worth reading
59In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
11.1
% (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales32,524¥ millionYear on year +0.3%Progress 85.6%
Operating profit2,653¥ millionYear on year -11.1%Progress 88.4%
Ordinary income5,833¥ millionYear on year -9.6%Progress 97.2%
Net income attributable to owners of the parent4,566¥ millionYear on year -7.3%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥109.69
Operating MarginCurrent fiscal year 8.2 % / Prior-year period 9.2 %
Financial position at period-end
Total assets105,055¥ million
of which net assets 43,489 ¥ millionEquity ratio 41.0%vs. prior year-end -2.3pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+8,327
Investment-6,790
Financials+4,514
Net change+6,051
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥18,371 million
Segment revenue
CRO Business31,277,43096.6%
Translational Research business108,1990.3%
Medipolis business (social benefit creation business)804,3072.5%
U.S. Real Estate184,4020.6%
Segment profit
CRO Business6,909,191
Translational Research business-4,028,787
Medipolis business (social benefit creation business)-65,892
U.S. Real Estate-1,490
Regional sales
Japan21,076,81364.8%
United States8,515,35926.2%
South Korea1,589,4774.9%
Other1,343,3094.1%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥38,000 million (YoY +16.8%)
Operating profit¥3,000 million (YoY +13.0%)
Ordinary income¥6,000 million (YoY +2.9%)
Profit attributable to owners of the parent¥3,500 million (YoY -23.4%)
Annual Dividend Forecast¥50.00 → ¥50.00（0.0%）
Payout ratio45.6
Shareholder Return PolicyTargeting a dividend payout ratio of 30–40% for fiscal 2028. The policy is to pay dividends steadily from profits.
Factors Behind Changes in Business Performance
Timing shifts in the recognition of revenue from several large-scale studies, higher costs from upfront investments in strengthening the workforce, expanding experimental facilities, establishing an NHP breeding infrastructure and promoting DX, and increased costs related to the commercialization of Satsuma's Atzumi™ business.
Disclosure regarding the going concern assumption
None. The notes regarding the going concern assumption state, “There are no applicable matters.”
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew Number of companies 1 / Company name Not disclosed / Excluded Number of companies 1 / Company name Not disclosed
Material subsequent eventsNot applicable.
Impairment loss¥11,598 thousand
Breakdown of extraordinary income (loss)Extraordinary income Item Gain on sale of non-current assets / Amount ¥9,757 thousand, Item Subsidy Income / Amount ¥800,000 thousand, Item Other / Amount ¥65,926 thousand, Item Total extraordinary income / Amount ¥875,684 thousand / Extraordinary loss Item Loss on disposal and sale of non-current assets / Amount ¥446,608 thousand, Item Impairment Losses / Amount ¥11,598 thousand, Item Impairment Loss on Investment Securities / Amount ¥3,000 thousand, Item Total extraordinary loss / Amount ¥461,206 thousand
Depreciation and amortization¥3,318 million
Orders received and order backlogBusiness Preclinical Business / Orders received ¥35,728 million / Order backlog ¥40,920 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts and institutional investors)
Issued Shares at Period-End41,632,400
Treasury Shares at Period-End586
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2025–31 March 2026 |
| Net Sales | ¥32,524 million (YoY +0.3%) |
| Operating profit | ¥2,653 million (YoY -11.1%) |
| Ordinary income | ¥5,833 million (YoY -9.6%) |
| Profit attributable to owners of the parent | ¥4,566 million (YoY -7.3%) |
| Net income per share | ¥109.69 |
| Operating Margin | Current fiscal year 8.2 % / Prior-year period 9.2 % |
| Equity ratio | End of the current fiscal period 41 / End of previous period 43.3 |
| Total assets | ¥105,055 million |
| Net assets | ¥43,489 million |
| Cash flows from operating activities | ¥8,327 million |
| Cash flows from investing activities | ¥-6,790 million |
| Cash flows from financing activities | ¥4,514 million |
| Cash and cash equivalents at end of period | ¥18,371 million |
| Full-year earnings forecast | Net Sales ¥38,000 million (YoY +16.8%) / Operating profit ¥3,000 million (YoY +13.0%) / Ordinary income ¥6,000 million (YoY +2.9%) / Profit attributable to owners of the parent ¥3,500 million (YoY -23.4%) |
| Annual Dividend Forecast | ¥50.00 → ¥50.00（0.0%） |
| Payout ratio | 45.6 |
| Shareholder Return Policy | Targeting a dividend payout ratio of 30–40% for fiscal 2028. The policy is to pay dividends steadily from profits. |
| Segment revenue | Segment CRO Business / Net Sales ¥31,277,430 thousand / yoy_pct ¥-1 thousand, Segment Translational Research business / Net Sales ¥108,199 thousand / yoy_pct Not disclosed, Segment Medipolis business (social benefit creation business) / Net Sales ¥804,307 thousand / yoy_pct ¥42.4 thousand, Segment U.S. Real Estate / Net Sales ¥184,402 thousand / yoy_pct Not disclosed |
| Segment profit | Segment CRO Business / Segment profit ¥6,909,191 thousand / yoy_pct ¥-4.8 thousand, Segment Translational Research business / Segment profit ¥-4,028,787 thousand / yoy_pct Not disclosed, Segment Medipolis business (social benefit creation business) / Segment profit ¥-65,892 thousand / yoy_pct Not disclosed, Segment U.S. Real Estate / Segment profit ¥-1,490 thousand / yoy_pct Not disclosed |
| Regional sales | Region Japan / Net Sales ¥21,076,813 thousand, Region United States / Net Sales ¥8,515,359 thousand, Region South Korea / Net Sales ¥1,589,477 thousand, Region Other / Net Sales ¥1,343,309 thousand |
| Orders received and order backlog | Business Preclinical Business / Orders received ¥35,728 million / Order backlog ¥40,920 million |
| Depreciation and amortization | ¥3,318 million |
| Impairment loss | ¥11,598 thousand |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Gain on sale of non-current assets / Amount ¥9,757 thousand, Item Subsidy Income / Amount ¥800,000 thousand, Item Other / Amount ¥65,926 thousand, Item Total extraordinary income / Amount ¥875,684 thousand / Extraordinary loss Item Loss on disposal and sale of non-current assets / Amount ¥446,608 thousand, Item Impairment Losses / Amount ¥11,598 thousand, Item Impairment Loss on Investment Securities / Amount ¥3,000 thousand, Item Total extraordinary loss / Amount ¥461,206 thousand |
| Disclosure regarding the going concern assumption | None. The notes regarding the going concern assumption state, “There are no applicable matters.” |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New Number of companies 1 / Company name Not disclosed / Excluded Number of companies 1 / Company name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts and institutional investors) |
| Issued Shares at Period-End | 41,632,400 |
| Treasury Shares at Period-End | 586 |
| Factors Behind Changes in Business Performance | Timing shifts in the recognition of revenue from several large-scale studies, higher costs from upfront investments in strengthening the workforce, expanding experimental facilities, establishing an NHP breeding infrastructure and promoting DX, and increased costs related to the commercialization of Satsuma's Atzumi™ business. |
Items this document does not state (1)
Revision to Earnings Forecast
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.Revenue increased only marginally because the completion of several large-scale studies expected to be recognized in the fiscal year ended March 2026 was pushed into the following fiscal year. Operating profit was affected by higher costs from upfront investments in strengthening the workforce, expanding experimental facilities, establishing an NHP breeding infrastructure and promoting DX, in addition to the shift in the timing of revenue recognition for large-scale studies, as well as increased costs related to the commercialization of Satsuma's Atzumi™ business.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.