Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-1388
¥ million (year-on-year change in net sales)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsSecond quarter of the fiscal year ending March 20278 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥19,974 million-6.5%
Operating profit¥-3,504 million
Ordinary income¥-3,798 million
Net income¥-3,867 million profit attributable to owners of the parent
Gross Profit Margin71.2
Operating profit margin-17.5
Selling, general and administrative expenses¥17,726 million
Full-year earnings forecast
Net Sales
¥45,700 million
Cost of sales
¥10,600 million
Gross profit
¥35,100 million
Selling, general and administrative expenses
¥33,900 million
R&D Expenses
¥19,300 million
Operating profit
¥1,100 million
Ordinary income
¥500 million
Profit attributable to owners of the parent
¥200 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 Sales43.7%
Cost of sales54.1%
Gross profit40.5%
Selling, general and administrative expenses52.2%
Selling, general and administrative expenses51.5%
R&D Expenses52.7%
Revenue breakdown
グロウジェクト (growth project)45.0%
イズカーゴ (cargo logistics service)52.6%
Temcell HS Injection49.0%
Renal anemia treatment45.1%
Epoetin Alfa BS Injection JCR31.4%
JCR Darbepoetin Alfa BS Injection53.8%
JCR Agalsidase Beta BS I.V. Infusion46.1%
Total pharmaceuticals47.0%
Contract payments18.1%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Overall progress is in line with the plan. IZCARGO is progressing at a pace that exceeds the full-year plan. Research and development expenses are broadly in line with expectations against the plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Contract paymentsChange in amount-3,540
- Other net salesChange in amount2,506
- R&D ExpensesChange in amount2,395
- Selling, general and administrative expensesChange in amount671
- Cost of salesChange in amount1,479
- Non-Operating IncomeChange in amount-121
- Non-Operating ExpensesChange in amount155
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- Growject sales volume at a level comparable to the previous fiscal year
- Impact of drug-price revisions
- Increase in the number of IZCARGO treatment cases
- Supply plan to customers for the renal anemia treatment and agalsidase beta BS
New initiatives
- Licensed in givinostat from Italfarmaco and began domestic development
- Plan to file a domestic marketing authorization application for givinostat by the end of 2026
- Plan to file an IND application in mid-2027 after Acumen exercises its option for J-Brain Cargo
- Expansion of IZCARGO in the Middle East through Taiba
- Out-licensing of exclusive rights to JR-141 to Italfarmaco for the United States, Europe and Latin America
Key KPIsA metric the company considers important as a management benchmark.
- Growject share of the domestic GH market (hospital market)30.4 %
- Growject share of the domestic GH market (pharmacy market)26.7 %
- Growject share of the domestic GH market (private-practice market)54.9 %
- IZCARGO® administered cases29 Example
- Cumulative IZCARGO® administered cases123 Example
- Number of participants in domestic givinostat clinical trials20 people
Medium-term management plan targets
Targeting revenue of ¥100 billion in the 2030sMarket Size / Share
Share by formulation type in the domestic GH market: Daily formulations 74%, Weekly formulations 26%. Growject market share by segment: hospitals 30.4%, pharmacies 26.7%, private practices 54.9% (as of September 2026)Capital expenditures
¥7,799 million cumulative second quarter of the fiscal year ending March 2027
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥19,974 million (YoY -6.5%) |
| Operating profit | ¥-3,504 million |
| Ordinary income | ¥-3,798 million |
| Net income | ¥-3,867 million (profit attributable to owners of the parent) |
| Gross Profit Margin | 71.2 |
| Operating profit margin | -17.5 |
| Selling, general and administrative expenses | ¥17,726 million |
| Full-year earnings forecast | Net Sales ¥45,700 million / Cost of sales ¥10,600 million / Gross profit ¥35,100 million / Selling, general and administrative expenses ¥33,900 million / R&D Expenses ¥19,300 million / Operating profit ¥1,100 million / Ordinary income ¥500 million / Profit attributable to owners of the parent ¥200 million |
| Progress against full-year forecast | Net Sales 43.7% / Cost of sales 54.1% / Gross profit 40.5% / Selling, general and administrative expenses 52.2% / Selling, general and administrative expenses 51.5% / R&D Expenses 52.7% / Revenue breakdown グロウジェクト (growth project) 45.0% / イズカーゴ (cargo logistics service) 52.6% / Temcell HS Injection 49.0% / Renal anemia treatment 45.1% / Epoetin Alfa BS Injection JCR 31.4% / JCR Darbepoetin Alfa BS Injection 53.8% / JCR Agalsidase Beta BS I.V. Infusion 46.1% / Total pharmaceuticals 47.0% / Contract payments 18.1% |
| Self-assessment against the plan | Overall progress is in line with the plan. IZCARGO is progressing at a pace that exceeds the full-year plan. Research and development expenses are broadly in line with expectations against the plan. |
| Breakdown of Factors Affecting the Change | Factors Contract payments / Change in amount ¥-3,540 million, Factors Other net sales / Change in amount ¥2,506 million, Factors R&D Expenses / Change in amount ¥2,395 million, Factors Selling, general and administrative expenses / Change in amount ¥671 million, Factors Cost of sales / Change in amount ¥1,479 million, Factors Non-Operating Income / Change in amount ¥-121 million, Factors Non-Operating Expenses / Change in amount ¥155 million |
| Key KPIs | Indicator name Growject share of the domestic GH market (hospital market) / Value 30.4 % / Year on year against the same period last year Not disclosed, Indicator name Growject share of the domestic GH market (pharmacy market) / Value 26.7 % / Year on year against the same period last year Not disclosed, Indicator name Growject share of the domestic GH market (private-practice market) / Value 54.9 % / Year on year against the same period last year Not disclosed, Indicator name IZCARGO® administered cases / Value 29 Example / Year on year against the same period last year Not disclosed, Indicator name Cumulative IZCARGO® administered cases / Value 123 Example / Year on year against the same period last year Not disclosed, Indicator name Number of participants in domestic givinostat clinical trials / Value 20 people / Year on year against the same period last year Not disclosed |
| Assumptions Underlying the Business Outlook | Growject sales volume at a level comparable to the previous fiscal year, Impact of drug-price revisions, Increase in the number of IZCARGO treatment cases, Supply plan to customers for the renal anemia treatment and agalsidase beta BS |
| Medium-term management plan targets | Targeting revenue of ¥100 billion in the 2030s |
| Capital expenditures | ¥7,799 million (cumulative second quarter of the fiscal year ending March 2027) |
| Market Size / Share | Share by formulation type in the domestic GH market: Daily formulations 74%, Weekly formulations 26%. Growject market share by segment: hospitals 30.4%, pharmacies 26.7%, private practices 54.9% (as of September 2026) |
| New initiatives | Licensed in givinostat from Italfarmaco and began domestic development, Plan to file a domestic marketing authorization application for givinostat by the end of 2026, Plan to file an IND application in mid-2027 after Acumen exercises its option for J-Brain Cargo, Expansion of IZCARGO in the Middle East through Taiba, Out-licensing of exclusive rights to JR-141 to Italfarmaco for the United States, Europe and Latin America |
Items this document does not state (12)
Results for the three months of the current quarterSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesOrders 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.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The main reason for the decline in revenue was lower contract revenue. Selling, general and administrative expenses increased mainly due to higher research and development expenses, while the decline in non-operating income was due to the absence in the current period of the foreign exchange gain recorded in the year-earlier period.
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