Worth reading
48Recurring
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
2583
¥ million (year-on-year increase in fiscal 2026 net sales)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+0.2%
基準 2,025Target2,030Sales mix
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Investment amount by sectorField R&D investment / Amount Not disclosed, Field BCV development / Amount Not disclosed, Field Global Phase III trial of AdV / Amount Not disclosed, Field Phase II trial of PML / Amount Not disclosed
Key initiatives
01We will seek to grow business value and achieve our business strategy in 3 therapeutic areas
02【BCV × PML】
03【BCV × AdV】
04[Ultrasensitive POCT]
05Advance the integration of the Japanese and U.S. organizations and make decisions as One Team
06Address unmet diagnostic needs with an ultrasensitive immunochromatographic system
Plan assumptionsAssumed fiscal 2026 exchange rate: ¥150.00/$, TREAKISYM sales are expected to decline as generic products gain market penetration, ¥3,000 million in partnering income from the BCV and IVD businesses is not yet certain, Fiscal 2025 exchange rates: average during the period of ¥149.61/$; ¥156.56/$ at the end of December
Non-financial targetsIndicator name Number of therapeutic areas in which BCV obtains new drug approval / Target value At least 2 of the 3 priority disease areas / Timing By 2030, Indicator name Number of patients enrolled in the global Phase III clinical trial of AdV / Target value 69 patients / Timing Through the end of December 2026, Indicator name Number of patients in the Phase II clinical trial of PML / Target value 18 patients with PML / Timing Starting in Q1 2026
Size of the Target MarketField Adenovirus infection after hematopoietic stem cell transplantation (AdV) / Estimated annual number of patients 2,700 patients / Range Worldwide, Field Cytomegalovirus infection after transplantation (CMV) / Estimated annual number of patients 31,300 patients / Range Worldwide, Field BK virus nephropathy after kidney transplantation (BKV) / Estimated annual number of patients 8,700 patients / Range Worldwide, Field Peripheral T-cell lymphoma (PTCL) / Estimated annual number of patients Approximately 9,000 patients / Range Worldwide, Field Brain tumors (GBM) / Estimated annual number of patients Approximately 22,000 patients / Range Worldwide, Field Progressive multifocal leukoencephalopathy (PML) / Estimated annual number of patients 3,900 patients / Range Worldwide, Source Company estimates based on GlobalData plc, International Report on Organ Donation and Transplantation Activities Executive Summary 2019, Transplantation 2012, and Bone Marrow Transplantation 2016 and 2019
Risks identified by the company
Uncertainty regarding research and development and securing revenue
Risk of dependence on specific business partners
Risk of dependence on specific products
Risks in the supply chain
Execution of overseas clinical trials
Approval of generic drugs
Funding
Going Concern
Reason for revision or withdrawal
The Phase Ib trial for NK/T-cell lymphoma was temporarily suspended to concentrate management resources.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Plan period | 2026–2030 |
| Progress against the plan | Annual update |
| Sales Target | 2025: Domestic sales of ¥1.307 billion; no overseas sales → 2030: Domestic-to-overseas sales ratio of 50:50 |
| Investment amount by sector | Field R&D investment / Amount Not disclosed, Field BCV development / Amount Not disclosed, Field Global Phase III trial of AdV / Amount Not disclosed, Field Phase II trial of PML / Amount Not disclosed |
| Non-financial targets | Indicator name Number of therapeutic areas in which BCV obtains new drug approval / Target value At least 2 of the 3 priority disease areas / Timing By 2030, Indicator name Number of patients enrolled in the global Phase III clinical trial of AdV / Target value 69 patients / Timing Through the end of December 2026, Indicator name Number of patients in the Phase II clinical trial of PML / Target value 18 patients with PML / Timing Starting in Q1 2026 |
| Plan assumptions | Assumed fiscal 2026 exchange rate: ¥150.00/$, TREAKISYM sales are expected to decline as generic products gain market penetration, ¥3,000 million in partnering income from the BCV and IVD businesses is not yet certain, Fiscal 2025 exchange rates: average during the period of ¥149.61/$; ¥156.56/$ at the end of December |
| Key initiatives | We will seek to grow business value and achieve our business strategy in 3 therapeutic areas, 【BCV × PML】, 【BCV × AdV】, [Ultrasensitive POCT], Advance the integration of the Japanese and U.S. organizations and make decisions as One Team, Address unmet diagnostic needs with an ultrasensitive immunochromatographic system |
| Reason for revision or withdrawal | The Phase Ib trial for NK/T-cell lymphoma was temporarily suspended to concentrate management resources. |
| Size of the Target Market | Field Adenovirus infection after hematopoietic stem cell transplantation (AdV) / Estimated annual number of patients 2,700 patients / Range Worldwide, Field Cytomegalovirus infection after transplantation (CMV) / Estimated annual number of patients 31,300 patients / Range Worldwide, Field BK virus nephropathy after kidney transplantation (BKV) / Estimated annual number of patients 8,700 patients / Range Worldwide, Field Peripheral T-cell lymphoma (PTCL) / Estimated annual number of patients Approximately 9,000 patients / Range Worldwide, Field Brain tumors (GBM) / Estimated annual number of patients Approximately 22,000 patients / Range Worldwide, Field Progressive multifocal leukoencephalopathy (PML) / Estimated annual number of patients 3,900 patients / Range Worldwide, Source Company estimates based on GlobalData plc, International Report on Organ Donation and Transplantation Activities Executive Summary 2019, Transplantation 2012, and Bone Marrow Transplantation 2016 and 2019 |
| Risks identified | Uncertainty regarding research and development and securing revenue, Risk of dependence on specific business partners, Risk of dependence on specific products, Risks in the supply chain, Execution of overseas clinical trials, Approval of generic drugs, Funding, Going Concern |
| Publication date | 31 March 2026 |
Items this document does not state (13)
Operating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetResults under the previous planDate of board resolution
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.TREAKISYM sales are expected to continue declining due to the penetration of generic products and the impact of drug price revisions. At the same time, the company will advance BCV’s global development, with the highest priority placed on obtaining approvals for 2 indications by 2030, and will focus on securing partnering income and early commercialization in the BCV and IVD businesses.
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