Komori

Financial Results Briefing for the Third Quarter of the Fiscal Year Ending December 2026

Results presentationNine months, FY ending Dec 2026Published 2026-11-13 15:30

For the cumulative third quarter of the fiscal year ending December 2026, revenue and profit increased, driven by organic growth in the Healthcare business, and net income turned positive. In light of progress ahead of plan, full-year forecasts for adjusted EBITDA, operating income and ordinary income were each raised by ¥200 million, while the revenue forecast was unchanged.

Contents of this document

Earnings presentation materialsThird quarter of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥39,965 million+8.0%
Operating profit¥2,899 million+11.0%
Ordinary income¥2,614 million+22.0%
Net income¥259 million
Results for the three months of the current quarterQuarterly trends in revenue, Healthcare revenue, biofuel revenue, adjusted EBITDA and operating income are shown. Year-on-year and earnings figures for the third quarter alone are not clearly presented.
Full-year earnings forecast
Net Sales
¥53,000 million
Adjusted EBITDA
¥7,200 million
Operating profit
¥3,400 million
Ordinary income
¥3,000 million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales75%
Adjusted EBITDA82%
Operating profit91%
Ordinary income93%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress exceeding plan
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Adjusted EBITDA
Gross profit+¥1,767 million
Advertising expenses-¥750 million
Other selling expenses-¥330 million
Personnel Expenses-¥436 million
Administrative expenses+¥5 million
Research and Development Expenses-JPY 5 million
Subsidies+¥54 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • European SAF and HVO pricesAround US$2.2–2.3/L
    NotesFY2026 Q3
  • Exchange rateUS$1 = approximately ¥160
    NotesBiofuel price estimate
New initiatives
  • Price revisions implemented for Euglena and EPORA
  • Launched new products: epo Premium Hematin EX, Keratin and CONC Eye Boost Injection
  • Started rolling out the OkiOne materials brand for the US market
  • Started introducing paramylon-containing products at selected medical institutions
  • Construction of a commercial plant in Malaysia is underway
  • Started the basic design of a demonstration plant producing sugar feedstock from unused palm agricultural residues
Key KPIsA metric the company considers important as a management benchmark.
  • Number of group direct-to-consumer subscription customers71.9 10,000 people
    Year on year against the same period last year+3%
  • Karada ni Euglena subscription customers for products targeting families with children
    Year on year against the same period last year1.2x
  • Annual unit sales of Euglena products used in cooking10 10,000 units
    Year on year against the same period last year5.2x
  • Number of stores carrying Q'SAI products14,000 more than stores
  • Biofuel revenue¥1,520 million
    Year on year against the same period last year2.1x
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Number of group direct-to-consumer subscription customers71.9 10,000 people
    Year on year against the same period last year+3%
  • CONC two-unit subscription rate32 %
    Year on year against the same period last year+25pt
  • epo Hematin subscription customers
    Year on year against the same period last year+23%
Segment results
Healthcare
Net Sales
¥36,669 million
Year on year against the same period last year+6.0%
Biofuels
Net Sales
¥1,520 million
Year on year against the same period last year+112.0%
Other
Net Sales
¥1,777 million
Year on year against the same period last year-2.0%
Medium-term management plan targets
Aims to reach a scale of more than ¥10 billion in the early 2030s through the use of paramylon as a medical food for CKD
Market Size / Share
U.S. Longevity & General Wellness Supplements market
$6.38 billion (2025), $11.53 billion (2035)
NotesCAGR of 6.1%
Japanese CKD patients
2,000 10,000 people
Our share of the Malaysian commercial plant market
15 %
Number of stores and locations
More than 14,000 stores carrying the products. Number of store openings and closures during the period: Not disclosed
Contents of this document
ItemDetails
Document typeEarnings presentation materials
Fiscal Period CoveredThird quarter of the fiscal year ending December 2026
Net Sales¥39,965 million (YoY +8.0%)
Operating profit¥2,899 million (YoY +11.0%)
Ordinary income¥2,614 million (YoY +22.0%)
Net income¥259 million
Results for the three months of the current quarterQuarterly trends in revenue, Healthcare revenue, biofuel revenue, adjusted EBITDA and operating income are shown. Year-on-year and earnings figures for the third quarter alone are not clearly presented.
Full-year earnings forecastNet Sales ¥53,000 million / Adjusted EBITDA ¥7,200 million / Operating profit ¥3,400 million / Ordinary income ¥3,000 million
Progress against full-year forecastNet Sales 75% / Adjusted EBITDA 82% / Operating profit 91% / Ordinary income 93%
Self-assessment against the planProgress exceeding plan
Segment resultsHealthcare Net Sales ¥36,669 million / yoy_pct 6 / Biofuels Net Sales ¥1,520 million / yoy_pct 112 / Other Net Sales ¥1,777 million / yoy_pct -2
Breakdown of Factors Affecting the ChangeAdjusted EBITDA Gross profit +¥1,767 million / Advertising expenses -¥750 million / Other selling expenses -¥330 million / Personnel Expenses -¥436 million / Administrative expenses +¥5 million / Research and Development Expenses -JPY 5 million / Subsidies +¥54 million
Key KPIsIndicator name Number of group direct-to-consumer subscription customers / Value 71.9 10,000 people / Year on year against the same period last year +3%, Indicator name Karada ni Euglena subscription customers for products targeting families with children / Value Not disclosed / Year on year against the same period last year 1.2x, Indicator name Annual unit sales of Euglena products used in cooking / Value 10 10,000 units / Year on year against the same period last year 5.2x, Indicator name Number of stores carrying Q'SAI products / Value 14,000 more than stores / Year on year against the same period last year Not disclosed, Indicator name Biofuel revenue / Value ¥1,520 million / Year on year against the same period last year 2.1x
Unit price and quantity metricsIndicator name Number of group direct-to-consumer subscription customers / Value 71.9 10,000 people / Year on year against the same period last year +3%, Indicator name CONC two-unit subscription rate / Value 32 % / Year on year against the same period last year +25pt, Indicator name epo Hematin subscription customers / Value Not disclosed / Year on year against the same period last year +23%
Number of stores and locationsMore than 14,000 stores carrying the products. Number of store openings and closures during the period: Not disclosed
Assumptions Underlying the Business OutlookItem European SAF and HVO prices / Value Around US$2.2–2.3/L / Notes FY2026 Q3, Item Exchange rate / Value US$1 = approximately ¥160 / Notes Biofuel price estimate
Medium-term management plan targetsAims to reach a scale of more than ¥10 billion in the early 2030s through the use of paramylon as a medical food for CKD
Market Size / ShareU.S. Longevity & General Wellness Supplements market $6.38 billion (2025), $11.53 billion (2035) / Japanese CKD patients 2,000 10,000 people / Our share of the Malaysian commercial plant market 15 %
New initiativesPrice revisions implemented for Euglena and EPORA, Launched new products: epo Premium Hematin EX, Keratin and CONC Eye Boost Injection, Started rolling out the OkiOne materials brand for the US market, Started introducing paramylon-containing products at selected medical institutions, Construction of a commercial plant in Malaysia is underway, Started the basic design of a demonstration plant producing sugar feedstock from unused palm agricultural residues
Items this document does not state (12)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesNumber of employeesRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A

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.

Financial Results Briefing for the Third Quarter of the Fiscal Year Ending December 2026 | Euglena Co.,Ltd. (2931) timely disclosure | Komori