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
-12.2
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 April 2025–31 March 2026ConsolidatedJapanese GAAPNet Sales192,615¥ millionYear on year +6.4%Progress 90.2%
Operating profit35,219¥ millionYear on year -12.2%Progress 93.9%
Ordinary income40,036¥ millionYear on year -5.7%Progress 112.8%
Net income attributable to owners of the parent28,117¥ millionYear on year -13.3%
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¥376.28
Operating MarginCurrent fiscal year 18.3 % / Previous period 22.2 %
Financial position at period-end
Total assets592,766¥ million
of which net assets 371,603 ¥ millionEquity ratio 54.3%vs. prior year-end -10.4pt
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+24,718
Investment-50,309
Financials+32,603
Net change+7,012
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¥78,261 million
Regional sales
Domestic Business161,17283.7%+0.4%
China business31,44216.3%+52.4%
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥213,600 million (YoY +10.9%)
Operating profit¥37,500 million (YoY +6.5%)
Ordinary income¥35,500 million (YoY -11.3%)
Profit attributable to owners of the parent¥26,200 million (YoY -6.8%)
Annual Dividend Forecast147 yen and sen → 158 yen and sen
Payout ratio45.4
Shareholder Return PolicyThe company uses dividend on equity (DOE) as its key metric and aims to achieve a DOE of 5% in fiscal 2031. For the fiscal year ending March 2027, the company plans to maintain a DOE of approximately 3.6%.
Factors Behind Changes in Business Performance
In the China business, revenue increased due to the consolidation of 上海虹橋中薬飲片有限公司 and growth in sales of crude drugs and prepared herbal medicines. In the Japan business, the number of stores handling healthcare products increased. On the earnings side, costs increased for the strategic buildup of crude drug inventories, salaries and allowances, enhanced information-provision activities, and DX-related expenses.
Disclosure regarding the going concern assumption
Not applicable.
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 上海虹橋中薬飲片有限公司 / Excluded Number of companies 0 / Company name Not disclosed
Material subsequent eventsNot applicable.
Breakdown of extraordinary income (loss)Extraordinary income Item Gain on sale of non-current assets / Amount ¥1 million, Item Gain on sale of investment securities / Amount ¥2,193 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥243 million, Item Loss on Disposal of Fixed Assets / Amount ¥172 million, Item Impairment loss on investment securities / Amount ¥499 million, Item Valuation loss on investments in affiliates / Amount ¥141 million, Item Head office relocation costs / Amount ¥136 million
Depreciation and amortization¥12,291 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingWhether applicable Yes / Subject person Institutional investors, securities analysts and news organizations
Issued Shares at Period-End76,758,362
Treasury Shares at Period-End2,212,906
| 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 | ¥192,615 million (YoY +6.4%) |
| Operating profit | ¥35,219 million (YoY -12.2%) |
| Ordinary income | ¥40,036 million (YoY -5.7%) |
| Profit attributable to owners of the parent | ¥28,117 million (YoY -13.3%) |
| Net income per share | ¥376.28 |
| Operating Margin | Current fiscal year 18.3 % / Previous period 22.2 % |
| Equity ratio | End of the current fiscal period 54.3 / End of previous period 64.7 |
| Total assets | ¥592,766 million |
| Net assets | ¥371,603 million |
| Cash flows from operating activities | ¥24,718 million |
| Cash flows from investing activities | ¥-50,309 million |
| Cash flows from financing activities | ¥32,603 million |
| Cash and cash equivalents at end of period | ¥78,261 million |
| Full-year earnings forecast | Net Sales ¥213,600 million (YoY +10.9%) / Operating profit ¥37,500 million (YoY +6.5%) / Ordinary income ¥35,500 million (YoY -11.3%) / Profit attributable to owners of the parent ¥26,200 million (YoY -6.8%) |
| Annual Dividend Forecast | 147 yen and sen → 158 yen and sen |
| Payout ratio | 45.4 |
| Shareholder Return Policy | The company uses dividend on equity (DOE) as its key metric and aims to achieve a DOE of 5% in fiscal 2031. For the fiscal year ending March 2027, the company plans to maintain a DOE of approximately 3.6%. |
| Regional sales | Region Domestic Business / Net Sales ¥161,172 million / Year on year against the same period last year ¥0.4 million, Region China business / Net Sales ¥31,442 million / Year on year against the same period last year ¥52.4 million |
| Depreciation and amortization | ¥12,291 million |
| Breakdown of extraordinary income (loss) | Extraordinary income Item Gain on sale of non-current assets / Amount ¥1 million, Item Gain on sale of investment securities / Amount ¥2,193 million / Extraordinary loss Item Loss on sale of fixed assets / Amount ¥243 million, Item Loss on Disposal of Fixed Assets / Amount ¥172 million, Item Impairment loss on investment securities / Amount ¥499 million, Item Valuation loss on investments in affiliates / Amount ¥141 million, Item Head office relocation costs / Amount ¥136 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| 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 上海虹橋中薬飲片有限公司 / Excluded Number of companies 0 / Company name Not disclosed |
| Material subsequent events | Not applicable. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Whether applicable Yes / Subject person Institutional investors, securities analysts and news organizations |
| Issued Shares at Period-End | 76,758,362 |
| Treasury Shares at Period-End | 2,212,906 |
| Factors Behind Changes in Business Performance | In the China business, revenue increased due to the consolidation of 上海虹橋中薬飲片有限公司 and growth in sales of crude drugs and prepared herbal medicines. In the Japan business, the number of stores handling healthcare products increased. On the earnings side, costs increased for the strategic buildup of crude drug inventories, salaries and allowances, enhanced information-provision activities, and DX-related expenses. |
Items this document does not state (5)
Revision to Earnings ForecastSegment revenueSegment profitOrders received and order backlogImpairment 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.Revenue increased due to growth in the China business, the consolidation of 上海虹橋中薬飲片有限公司, and an increase in the number of stores handling domestic healthcare products. Operating income decreased due to temporary cost increases resulting from the strategic buildup of crude drug inventories, higher salaries and allowances, increased costs related to enhanced information-provision activities, and higher DX-related expenses.
How to read this page
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