Worth reading
60In focus
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
1491
¥ million (year-on-year decrease in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Supplementary materials to the earnings reportFY2025 (fiscal year ending March 2026), full year9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥62,307 million+2.9%
Operating profit¥2,639 million-36.1%
Ordinary income¥2,349 million-37.9%
Net income¥2,011 million
Selling, general and administrative expenses¥13,355 million
Full-year earnings forecast
Net Sales
¥63,200 million
Cost of sales
¥47,500 million
Selling, general and administrative expenses
¥13,700 million
Research and development costs
¥2,100 million
Operating profit
¥2,000 million
Ordinary income
¥1,400 million
Net income for the current fiscal year
¥1,300 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Revenue (promotion of sales of generic drugs related to renal and dialysis care, repricing of unprofitable products, increases in minimum drug prices and other factors)
- Cost of sales (surging prices for raw materials, contract-manufactured products and acquired products; investment in human capital; and facility maintenance costs)
- Selling, general and administrative expenses (investment in human capital, depreciation associated with the renewal of core systems, and transportation-related expenses)
- Research and development expenses (milestone payments and clinical trial expenses for DMX-200)
The company identifies the factors but does not state the amount attributable to each one.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- AssumptionsRaw material pricesDetailsConservatively incorporates a significant, one-off increase associated with the situation in the Middle East, expected to continue through the end of the year. Specific price figures: Not disclosed
- AssumptionsResearch and development costsDetailsMilestone payments to Dimerix will decrease, but clinical trial expenses will be incurred throughout the year
New initiatives
- Continuation of the international joint Phase 3 clinical trial of DMX-200
- Joint research on culture media for embryo culture
- Construction of the second Okayama plant (construction to begin in December 2026, completion in March 2028, production operations to begin at the end of 2028)
- Shareholder return policy targeting progressive dividends through fiscal 2030
Key KPIsA metric the company considers important as a management benchmark.
- Number of products designated for stable supply107 Instrument
- Sales volume mix of products designated for stable supply77 %
- Number of essential drugs94 Instrument
- Sales volume mix of essential drugs and products designated for stable supply54 %
- Sales volume mix of essential drugs70 %
- Mix of products designated for stable supply and other products (Vision 2030)93 %
- Number of FSGS patients in Japan1,400 people
- Number of participants in the ACTION3 clinical trial333 people
- Number of participants transitioning to the OLE studyAt least 70
Segment results
- Renal and dialysisFiscal 2024 revenue¥34,735 millionFiscal 2025 net sales¥35,690 million
- InfusionFiscal 2024 revenue¥11,841 millionFiscal 2025 net sales¥13,150 million
- Generic drugsFiscal 2024 revenue¥9,516 millionFiscal 2025 net sales¥8,182 million
- OtherFiscal 2024 revenue¥9,465 millionFiscal 2025 net sales¥10,252 million
Medium-term management plan targets
Net Sales
TargetMore than ¥70 billion
Target fiscal yearFY2030
ROE
TargetAbove 8%
Target fiscal yearFY2030
Financial targets
ROE
FY2025 actual3.8%
FY2030 targetAbove 8%
Annual Dividend
FY2026 forecast¥90 per share
Interim¥45 per share
End of period¥45 per share
Acquisition of treasury shares
The company is considering flexible share repurchases based on cash flow trends and other factors. Amount, number of shares and period: Not disclosed| Item | Details |
|---|---|
| Document type | Supplementary materials to the earnings report |
| Fiscal Period Covered | FY2025 (fiscal year ending March 2026), full year |
| Net Sales | ¥62,307 million (YoY +2.9%) |
| Operating profit | ¥2,639 million (YoY -36.1%) |
| Ordinary income | ¥2,349 million (YoY -37.9%) |
| Net income | ¥2,011 million |
| Selling, general and administrative expenses | ¥13,355 million |
| Full-year earnings forecast | Net Sales ¥63,200 million / Cost of sales ¥47,500 million / Selling, general and administrative expenses ¥13,700 million / Research and development costs ¥2,100 million / Operating profit ¥2,000 million / Ordinary income ¥1,400 million / Net income for the current fiscal year ¥1,300 million |
| Segment results | Segment Renal and dialysis / Fiscal 2024 revenue ¥34,735 million / Fiscal 2025 net sales ¥35,690 million / Year on year against the same period last year Not disclosed, Segment Infusion / Fiscal 2024 revenue ¥11,841 million / Fiscal 2025 net sales ¥13,150 million / Year on year against the same period last year Not disclosed, Segment Generic drugs / Fiscal 2024 revenue ¥9,516 million / Fiscal 2025 net sales ¥8,182 million / Year on year against the same period last year Not disclosed, Segment Other / Fiscal 2024 revenue ¥9,465 million / Fiscal 2025 net sales ¥10,252 million / Year on year against the same period last year Not disclosed |
| Breakdown of Factors Affecting the Change | Factors Revenue (promotion of sales of generic drugs related to renal and dialysis care, repricing of unprofitable products, increases in minimum drug prices and other factors) / Amount Not disclosed, Factors Cost of sales (surging prices for raw materials, contract-manufactured products and acquired products; investment in human capital; and facility maintenance costs) / Amount Not disclosed, Factors Selling, general and administrative expenses (investment in human capital, depreciation associated with the renewal of core systems, and transportation-related expenses) / Amount Not disclosed, Factors Research and development expenses (milestone payments and clinical trial expenses for DMX-200) / Amount Not disclosed |
| Key KPIs | Indicator Number of products designated for stable supply / Value 107 Instrument / Year on year against the same period last year Not disclosed, Indicator Sales volume mix of products designated for stable supply / Value 77 % / Year on year against the same period last year Not disclosed, Indicator Number of essential drugs / Value 94 Instrument / Year on year against the same period last year Not disclosed, Indicator Sales volume mix of essential drugs and products designated for stable supply / Value 54 % / Year on year against the same period last year Not disclosed, Indicator Sales volume mix of essential drugs / Value 70 % / Year on year against the same period last year Not disclosed, Indicator Mix of products designated for stable supply and other products (Vision 2030) / Value 93 % / Year on year against the same period last year Not disclosed, Indicator Number of FSGS patients in Japan / Value 1,400 people / Year on year against the same period last year Not disclosed, Indicator Number of participants in the ACTION3 clinical trial / Value 333 people / Year on year against the same period last year Not disclosed, Indicator Number of participants transitioning to the OLE study / Value At least 70 / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | Assumptions Raw material prices / Details Conservatively incorporates a significant, one-off increase associated with the situation in the Middle East, expected to continue through the end of the year. Specific price figures: Not disclosed, Assumptions Research and development costs / Details Milestone payments to Dimerix will decrease, but clinical trial expenses will be incurred throughout the year |
| Medium-term management plan targets | Net Sales Target More than ¥70 billion / Target fiscal year FY2030 / ROE Target Above 8% / Target fiscal year FY2030 |
| Financial targets | ROE FY2025 actual 3.8% / FY2030 target Above 8% |
| Annual Dividend | FY2026 forecast ¥90 per share / Interim ¥45 per share / End of period ¥45 per share |
| Acquisition of treasury shares | The company is considering flexible share repurchases based on cash flow trends and other factors. Amount, number of shares and period: Not disclosed |
| New initiatives | Continuation of the international joint Phase 3 clinical trial of DMX-200, Joint research on culture media for embryo culture, Construction of the second Okayama plant (construction to begin in December 2026, completion in March 2028, production operations to begin at the end of 2028), Shareholder return policy targeting progressive dividends through fiscal 2030 |
Items this document does not state (14)
Gross Profit MarginOperating profit marginResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.In fiscal 2025, profit was weighed down by surging prices for raw materials, contract-manufactured products and acquired products; increased investment in human capital, including base-pay increases; facility maintenance costs; depreciation associated with the renewal of core systems; transportation-related expenses; and milestone payments and clinical trial expenses related to the development progress of DMX-200. In fiscal 2026, revenue is expected to increase on higher sales of core products and other factors, while the forecast incorporates surging raw material prices associated with the situation in the Middle East, higher transportation-related expenses and investment in human capital, including the relocation of the head office.
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.