Worth reading
57In focus
Scored from 5 of 6 sectionsDirection
Deterioration
Direction inferred from the company’s description.Scale
-63.4
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026 to 30 September 2026ConsolidatedJapanese GAAPNet Sales309,806Million yenYear on year +3.2%Progress 49.4%
Operating profit600Million yenYear on year -63.4%Progress 33.3%
Ordinary income1,138Million yenYear on year -77.4%Progress 42.1%
Net income attributable to owners of the parent462Million yenYear on year -90.7%Progress 6.9%
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¥9.63
Financial position at period-end
Total assets329,422Million yen
of which net assets 116,885 Million yenEquity ratio 35.0%vs. prior year-end -1.6pt
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+1,644
Investment-2,611
Financials-1,081
Net change-2,048
Stacked from zero: upward is an increase in cash, downward a decrease (in Million yen).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 period17,409 Million yen
Segment revenuePharmaceutical wholesale business 291,058 Million yen (YoY +3.2%), Pharmacy business 9,851 Million yen (YoY -0.2%), Veterinary pharmaceutical wholesale business 6,080 Million yen (YoY -1.6%), Pharmaceuticals Business 0 Million yen, Nursing care rental and other businesses 2,816 Million yen (YoY +27.0%)
Segment profitPharmaceutical wholesale business 1,523 Million yen (YoY +73.2%), Pharmacy business -55 Million yen, Veterinary pharmaceutical wholesale business 111 Million yen (YoY +103.1%), Pharmaceuticals Business -856 Million yen, Nursing care rental and other businesses -218 Million yen
Outlook and shareholder returns
Full-year earnings forecast
Net Sales627,000 Million yen (YoY +2.7%)
Operating profit1,800 Million yen (YoY -55.3%)
Ordinary income2,700 Million yen (YoY -65.5%)
Net income6,700 Million yen (YoY -9.0%)
Revision to Earnings ForecastNet Sales Not disclosed → 627,000 Million yen / Operating profit Not disclosed → 1,800 Million yen / Ordinary income Not disclosed → 2,700 Million yen / Net income Not disclosed → 6,700 Million yen
Annual Dividend Forecast70 Yen → 70 Yen（0.0%）
Factors Behind Changes in Business Performance
Drug price cuts resulting from the drug price revision, intensifying market competition, higher invoice prices, lower rebates, higher personnel costs, increased selling, general and administrative expenses due to soaring prices, upfront investments including digital transformation initiatives, and higher cybersecurity costs. The pharmaceutical business recorded ¥856 million in research and development expenses.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Yesそれ以外の変更 None見積りの変更 None修正再表示 None
Changes in the scope of consolidation0 additions and 0 exclusions (no company names)
Impairment loss21 Million yen
Breakdown of extraordinary income (loss)Extraordinary income Gain on sale of property, plant and equipment 139 Million yen, Gain on Sale of Investment Securities 59 Million yen, Gain on sale of investments 52 Million yen / Extraordinary loss Loss on sale of non-current assets 30 Million yen, Impairment Losses 21 Million yen, Other 2 Million yen
Depreciation and amortization2,017 Million yen
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for institutional investors and analysts)
Issued Shares at Period-End51,902,976
Treasury Shares at Period-End4,405,798
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026 to 30 September 2026 |
| Net Sales | 309,806 Million yen (YoY +3.2%) |
| Operating profit | 600 Million yen (YoY -63.4%) |
| Ordinary income | 1,138 Million yen (YoY -77.4%) |
| Profit attributable to owners of the parent | 462 Million yen (YoY -90.7%) |
| Net income per share | ¥9.63 |
| Equity ratio | End of the current fiscal period 35 / End of previous period 36.6 |
| Total assets | 329,422 Million yen |
| Net assets | 116,885 Million yen |
| Cash flows from operating activities | 1,644 Million yen |
| Cash flows from investing activities | -2,611 Million yen |
| Cash flows from financing activities | -1,081 Million yen |
| Cash and cash equivalents at end of period | 17,409 Million yen |
| Full-year earnings forecast | Net Sales 627,000 Million yen (YoY +2.7%) / Operating profit 1,800 Million yen (YoY -55.3%) / Ordinary income 2,700 Million yen (YoY -65.5%) / Net income 6,700 Million yen (YoY -9.0%) |
| Revision to Earnings Forecast | Net Sales Not disclosed → 627,000 Million yen / Operating profit Not disclosed → 1,800 Million yen / Ordinary income Not disclosed → 2,700 Million yen / Net income Not disclosed → 6,700 Million yen |
| Annual Dividend Forecast | 70 Yen → 70 Yen（0.0%） |
| Segment revenue | Pharmaceutical wholesale business 291,058 Million yen (YoY +3.2%), Pharmacy business 9,851 Million yen (YoY -0.2%), Veterinary pharmaceutical wholesale business 6,080 Million yen (YoY -1.6%), Pharmaceuticals Business 0 Million yen, Nursing care rental and other businesses 2,816 Million yen (YoY +27.0%) |
| Segment profit | Pharmaceutical wholesale business 1,523 Million yen (YoY +73.2%), Pharmacy business -55 Million yen, Veterinary pharmaceutical wholesale business 111 Million yen (YoY +103.1%), Pharmaceuticals Business -856 Million yen, Nursing care rental and other businesses -218 Million yen |
| Depreciation and amortization | 2,017 Million yen |
| Impairment loss | 21 Million yen |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on sale of property, plant and equipment 139 Million yen, Gain on Sale of Investment Securities 59 Million yen, Gain on sale of investments 52 Million yen / Extraordinary loss Loss on sale of non-current assets 30 Million yen, Impairment Losses 21 Million yen, Other 2 Million yen |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards Yes / Other changes None / Change in accounting estimate None / Restatement None |
| Changes in the scope of consolidation | 0 additions and 0 exclusions (no company names) |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for institutional investors and analysts) |
| Issued Shares at Period-End | 51,902,976 |
| Treasury Shares at Period-End | 4,405,798 |
| Factors Behind Changes in Business Performance | Drug price cuts resulting from the drug price revision, intensifying market competition, higher invoice prices, lower rebates, higher personnel costs, increased selling, general and administrative expenses due to soaring prices, upfront investments including digital transformation initiatives, and higher cybersecurity costs. The pharmaceutical business recorded ¥856 million in research and development expenses. |
Items this document does not state (6)
Operating MarginPayout ratioShareholder Return PolicyRegional salesOrders received and order backlogMaterial subsequent events
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.Profit was squeezed by drug price cuts resulting from the drug price revision, intensifying market competition, higher invoice prices, lower rebates, increased selling, general and administrative expenses due to rising personnel costs and prices, and higher upfront investment costs for initiatives including digital transformation and cybersecurity measures. The pharmaceutical business recorded ¥856 million in research and development expenses.
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