Worth reading
52Recurring
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
-5.2
Year-on-year change in business revenue (%)Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter (interim period) of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,455 million -5.2%business revenue
Operating profit¥-338 million
Ordinary income¥-326 million
Net income¥-466 million interim net income attributable to owners of the parent
Results for the three months of the current quarterRoyalty income of ¥551 million and other income of ¥102 million (second quarter of the fiscal year ending December 2026, three-month period; figures shown in the graph)
Full-year earnings forecast
Business profitability
¥3,980 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。
Business profitability36.6%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Interim-period progress was in line with the planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- No milestones, upfront contract payments or similar items were recognized
- Decrease in trade receivables¥1,075 million
- Amortization of goodwill¥139 million
- Depreciation¥86 million
- Interim loss before income taxes and other adjustments¥-326 million
- Increase in prepaid expenses¥-178 million
- Income taxes paid¥-168 million
New initiatives
- Exclusive out-licensing of 5-HT4 agonists and motilin receptor agonists to the Lazarus Group
- Exercise of an option by Velovia for veterinary applications
- Promotion of joint research with HK inno.N
- Launch of joint research on computational chemistry and AI with RIKEN
- Expansion of the capital and business alliance with HK inno.N, involving the issuance of new shares
Key KPIsA metric the company considers important as a management benchmark.
- K-CAB sales in South Korea, prescription basis, first half1,200 KRW 100 millionYear on year against the same period last year+15.4%
- Number of countries where Tegoprazan is marketed20 countries
- Number of countries where the Tegoprazan business operates57 countries
- K-CAB share of the peptic ulcer drug market in South Korea15 %
- P-CAB market share in South Korea26.4 %
- Rank of outpatient prescription sales in South Korea1 rank
Unit price and quantity metricsThese figures show sales broken down by price and volume.
K-CAB sales in South Korea are presented on a prescription basis, but no breakdown into price and volume is disclosedFinancial targets
Equity ratio of 70.6% (target not disclosed)Market Size / Share
- Global peptic ulcer drug market¥2 trillion
- U.S. peptic ulcer drug market¥4,000 million
- South Korean peptic ulcer drug market (2025)¥1,620 million
- K-CAB share in South Korea15 %
Capital expenditures
¥3 100 million three years
Annual Dividend
Dividends to shareholders are planned based on the financial position. The amount is not disclosedAcquisition of treasury shares
To be considered flexibly. The amount, number of shares and period for the acquisition are not disclosed| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter (interim period) of the fiscal year ending December 2026 |
| Net Sales | ¥1,455 million (business revenue) (YoY -5.2%) |
| Operating profit | ¥-338 million |
| Ordinary income | ¥-326 million |
| Net income | ¥-466 million (interim net income attributable to owners of the parent) |
| Results for the three months of the current quarter | Royalty income of ¥551 million and other income of ¥102 million (second quarter of the fiscal year ending December 2026, three-month period; figures shown in the graph) |
| Full-year earnings forecast | Business profitability ¥3,980 million |
| Progress against full-year forecast | Business profitability 36.6% |
| Self-assessment against the plan | Interim-period progress was in line with the plan |
| Breakdown of Factors Affecting the Change | Factors No milestones, upfront contract payments or similar items were recognized / Amount Not disclosed, Factors Decrease in trade receivables / Amount ¥1,075 million, Factors Amortization of goodwill / Amount ¥139 million, Factors Depreciation / Amount ¥86 million, Factors Interim loss before income taxes and other adjustments / Amount ¥-326 million, Factors Increase in prepaid expenses / Amount ¥-178 million, Factors Income taxes paid / Amount ¥-168 million |
| Key KPIs | Indicator name K-CAB sales in South Korea, prescription basis, first half / Value 1,200 KRW 100 million / Year on year against the same period last year +15.4%, Indicator name Number of countries where Tegoprazan is marketed / Value 20 countries / Year on year against the same period last year Not disclosed, Indicator name Number of countries where the Tegoprazan business operates / Value 57 countries / Year on year against the same period last year Not disclosed, Indicator name K-CAB share of the peptic ulcer drug market in South Korea / Value 15 % / Year on year against the same period last year Not disclosed, Indicator name P-CAB market share in South Korea / Value 26.4 % / Year on year against the same period last year Not disclosed, Indicator name Rank of outpatient prescription sales in South Korea / Value 1 rank / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | K-CAB sales in South Korea are presented on a prescription basis, but no breakdown into price and volume is disclosed |
| Financial targets | Equity ratio of 70.6% (target not disclosed) |
| Annual Dividend | Dividends to shareholders are planned based on the financial position. The amount is not disclosed |
| Acquisition of treasury shares | To be considered flexibly. The amount, number of shares and period for the acquisition are not disclosed |
| Capital expenditures | ¥3 100 million (three years) |
| Market Size / Share | Market Global peptic ulcer drug market / Value ¥2 trillion, Market U.S. peptic ulcer drug market / Value ¥4,000 million, Market South Korean peptic ulcer drug market (2025) / Value ¥1,620 million, Market K-CAB share in South Korea / Value 15 % |
| New initiatives | Exclusive out-licensing of 5-HT4 agonists and motilin receptor agonists to the Lazarus Group, Exercise of an option by Velovia for veterinary applications, Promotion of joint research with HK inno.N, Launch of joint research on computational chemistry and AI with RIKEN, Expansion of the capital and business alliance with HK inno.N, involving the issuance of new shares |
Items this document does not state (12)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesSegment resultsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsPayout ratioOrders 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.Other income declined year on year because no milestones, upfront contract payments or similar items were recognized. The company considers interim-period progress itself to be in line with the initial plan.
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.