Worth reading
48Recurring
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
3.9
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Results for this period
Interim period (second quarter)1 April 2026–30 September 2026ConsolidatedIFRSNet Sales143,289¥ millionYear on year +3.9%Progress 46.1%
Operating profit19,411¥ millionYear on year +8.4%Progress 39.2%
Ordinary income19,859¥ million
Net income attributable to owners of the parent15,447¥ millionYear on year +10.8%Progress 38.6%
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¥48.05
Financial position at period-end
Total assets418,450¥ million
of which net assets 303,331 ¥ millionEquity ratio 72.7%vs. prior year-end +2.5pt
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+19,710
Investment-8,655
Financials-8,780
Net change+2,275
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¥81,657 million
Regional sales¥612 hundred million (YoY -12.4%), ¥166 hundred million (YoY +13.6%), ¥199 hundred million (YoY +33.6%), ¥445 hundred million (YoY +17.8%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥311,000 million (YoY +6.6%)
Operating profit¥49,500 million (YoY +3.6%)
Ordinary incomeNot disclosed
Net income¥40,000 million (YoY +7.0%)
Revision to Earnings ForecastNo revision
Annual Dividend Forecast¥38 → ¥42
Shareholder Return PolicyThe company regards stable profit returns as one of its highest management priorities and plans to repurchase treasury shares to enhance shareholder returns, further improve capital efficiency, and implement flexible capital policies. However, numerical targets such as the payout ratio and DOE are Not disclosed.
Factors Behind Changes in Business Performance
While the results were affected by drug price revisions and other factors, the company focused on expanding new and core products. In China, growth in Cravit and exclusive distribution and sales promotion agreements contributed, while in Asia, the steady performance of glaucoma and dry-eye products contributed. Core operating profit increased due to higher gross profit, lower research and development expenses, and lower amortization expenses for product-related intangible assets, among other factors.
Disclosure regarding the going concern assumption
No applicable matters.
Change in accounting policy
基準改正に伴う変更 Noneそれ以外の変更 None見積りの変更 None修正再表示 Not disclosed
Changes in the scope of consolidationNew 0 companies (no material changes during the interim period) / Excluded 1 company: Advanced Vision Science, Inc. (effective 1 October 2026, post-period event)
Material subsequent eventsOn 1 October 2026, all shares of the U.S. subsidiary Advanced Vision Science, Inc. were transferred to SpyGlass Pharma, Inc., and the company was excluded from the scope of consolidation. A gain of approximately ¥800 million on the sale of subsidiary shares is expected to be recorded under other income in the fiscal year ending March 2027. The company also resolved to acquire treasury shares, up to a maximum of 16,000,000 shares or ¥35 billion.
Depreciation and amortization¥8,949 million (depreciation and amortization)
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for securities analysts and institutional investors)
Issued Shares at Period-End322,314,154
Treasury Shares at Period-End535,616
| Item | Details |
|---|---|
| Fiscal Period Classification | Interim period (second quarter) |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 April 2026–30 September 2026 |
| Net Sales | ¥143,289 million (YoY +3.9%) |
| Operating profit | ¥19,411 million (YoY +8.4%) |
| Ordinary income | ¥19,859 million |
| Profit attributable to owners of the parent | ¥15,447 million (YoY +10.8%) |
| Net income per share | ¥48.05 |
| Equity ratio | End of the current fiscal period 72.7 / End of previous period 70.2 |
| Total assets | ¥418,450 million |
| Net assets | ¥303,331 million |
| Cash flows from operating activities | ¥19,710 million |
| Cash flows from investing activities | ¥-8,655 million |
| Cash flows from financing activities | ¥-8,780 million |
| Cash and cash equivalents at end of period | ¥81,657 million |
| Full-year earnings forecast | Net Sales ¥311,000 million (YoY +6.6%) / Operating profit ¥49,500 million (YoY +3.6%) / Ordinary income Not disclosed / Net income ¥40,000 million (YoY +7.0%) |
| Revision to Earnings Forecast | No revision |
| Annual Dividend Forecast | ¥38 → ¥42 |
| Shareholder Return Policy | The company regards stable profit returns as one of its highest management priorities and plans to repurchase treasury shares to enhance shareholder returns, further improve capital efficiency, and implement flexible capital policies. However, numerical targets such as the payout ratio and DOE are Not disclosed. |
| Regional sales | ¥612 hundred million (YoY -12.4%), ¥166 hundred million (YoY +13.6%), ¥199 hundred million (YoY +33.6%), ¥445 hundred million (YoY +17.8%) |
| Depreciation and amortization | ¥8,949 million (depreciation and amortization) |
| Disclosure regarding the going concern assumption | No applicable matters. |
| Change in accounting policy | Changes due to revisions to standards None / Other changes None / Change in accounting estimate None / Restatement Not disclosed |
| Changes in the scope of consolidation | New 0 companies (no material changes during the interim period) / Excluded 1 company: Advanced Vision Science, Inc. (effective 1 October 2026, post-period event) |
| Material subsequent events | On 1 October 2026, all shares of the U.S. subsidiary Advanced Vision Science, Inc. were transferred to SpyGlass Pharma, Inc., and the company was excluded from the scope of consolidation. A gain of approximately ¥800 million on the sale of subsidiary shares is expected to be recorded under other income in the fiscal year ending March 2027. The company also resolved to acquire treasury shares, up to a maximum of 16,000,000 shares or ¥35 billion. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for securities analysts and institutional investors) |
| Issued Shares at Period-End | 322,314,154 |
| Treasury Shares at Period-End | 535,616 |
| Factors Behind Changes in Business Performance | While the results were affected by drug price revisions and other factors, the company focused on expanding new and core products. In China, growth in Cravit and exclusive distribution and sales promotion agreements contributed, while in Asia, the steady performance of glaucoma and dry-eye products contributed. Core operating profit increased due to higher gross profit, lower research and development expenses, and lower amortization expenses for product-related intangible assets, among other factors. |
Items this document does not state (7)
Operating MarginPayout ratioSegment revenueSegment profitOrders received and order backlogImpairment lossBreakdown of extraordinary income (loss)
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.Although the results were affected by drug price revisions and other factors, revenue increased as a result of efforts to expand new and core products. In China, growth in Cravit and exclusive distribution and sales promotion agreements contributed, while in Asia, the steady performance of glaucoma and dry-eye products and an agreement in South Korea contributed.
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.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.