Continued Losses as Sales Expand and R&D Expenses Are Front-Loaded
First written in FY2016. 9 of 40 entries say "Worsened", first in FY2017-Q1. Latest entry: 2026-08-13.
Kidswell Bio moved to the "Worse" side of this theme in 2016, 5 years before the typical company in this theme (2021).
The whole theme swung hardest in 2021: 5 of 10 companies on the "Worse" side.
2 other companies' latest entry also says "Mitigated".
- 2026-08-13MitigatedEarnings presentation
「Operating profit and quarterly net income were secured at levels above those of the same period of the previous year.」
In contrast to the previous disclosures of continuing losses, the company recorded operating profit of ¥216.506 million and quarterly net income attributable to owners of the parent of ¥197.902 million in the first quarter. - FY2026Revenue growth and a return to an operating lossAnnual report
「The consolidated results of the Group were revenue of ¥6,590 million, R&D expenses of ¥1,120 million, an operating loss of ¥139 million, an ordinary loss of ¥375 million and a net loss attributable to owners of the parent of ¥414 million.」
Revenue increased 29.7% year on year, while the Company moved from operating income in the previous consolidated fiscal year to an operating loss and also reported an ordinary loss and a net loss attributable to owners of the parent. - FY2026-H1Operating profit and substantial revenue and earnings growth in the interim consolidated periodAnnual report
「Revenue rose substantially above the same interim period of the previous year to ¥3,276 million, up 87.2% year on year. Reflecting this significant revenue growth, operating income was ¥215 million, compared with an operating loss of ¥263 million in the same interim period of the previous year; ordinary income was ¥77 million, compared with an ordinary loss of ¥268 million; and interim net income attributable to owners of the parent was ¥61 million, compared with an interim net loss attributable to owners of the parent of ¥242 million.」
The Company moved from an operating loss in the same period of the previous year to operating income and reported revenue, ordinary income and interim net income attributable to owners of the parent. - FY2025First consolidated operating profit since listingAnnual report
「In the consolidated fiscal year, in addition to the rapid growth of the biosimilars business, appropriate optimization of R&D expenses and the timing shift of certain expenses were the main factors enabling the Company to achieve its first company-wide operating profit since listing.」
The Company reported its first company-wide operating profit since listing, driven by growth in the biosimilars business and the optimization of R&D expenses. However, net income attributable to owners of the parent was a loss of ¥21 million. - FY2025-H1Operating loss continues after the transition to consolidated reporting; biosimilar business profitable on a standalone basisAnnual report
「The consolidated results of the group for the interim consolidated fiscal period were revenue of ¥1,749.911 million, research and development expenses of ¥340.907 million, operating loss of ¥262.520 million, ordinary loss of ¥267.993 million, and interim net loss attributable to owners of the parent of ¥241.794 million.」
In the first interim consolidated results following the consolidation of S-Quatre, the company recorded revenue, while operating, ordinary and net losses continued due to research and development investment. However, the company explained that the biosimilar business achieved profitability on a standalone basis. - FY2024-Q3WorsenedAnnual report
「For the nine months, the company recorded revenue of ¥1,566.742 million, down 9.3% year on year; research and development expenses of ¥807.465 million, up 39.4%; operating loss of ¥667.025 million, compared with an operating loss of ¥135.523 million in the same quarter of the prior year; ordinary loss of ¥712.858 million, compared with an ordinary loss of ¥194.023 million; and quarterly net loss of ¥747.400 million, compared with a quarterly net loss of ¥194.930 million.」
Revenue declined year on year, while operating, ordinary and net losses widened substantially due in part to higher research and development expenses. - FY2024-Q2WorsenedAnnual report
「For the six months, the company recorded revenue of ¥581.870 million, down 47.9% year on year; research and development expenses of ¥546.693 million, up 117.1%; operating loss of ¥719.658 million, compared with operating profit of ¥11.137 million in the same quarter of the prior year; ordinary loss of ¥744.646 million, compared with an ordinary loss of ¥42.082 million; and quarterly net loss of ¥780.251 million, compared with a quarterly net loss of ¥42.687 million.」
Revenue declined substantially year on year, and operating, ordinary and quarterly net losses widened as research and development expenses increased. - FY2024-Q1Substantial revenue decline, wider lossesAnnual report
「For the first quarter, the company recorded revenue of ¥45.979 million, down 92.5% year on year; research and development expenses of ¥312.535 million, up 196.3%; operating loss of ¥455.049 million, compared with an operating loss of ¥37.991 million in the same quarter of the prior year; ordinary loss of ¥470.326 million, compared with an ordinary loss of ¥80.652 million; and quarterly net loss of ¥470.629 million, compared with a quarterly net loss of ¥80.954 million.」
Revenue declined 92.5% year on year, while operating, ordinary and net losses widened due in part to higher research and development expenses. - FY2023Substantial revenue growth, narrower operating loss, wider net lossAnnual report
「As a result, revenue for the fiscal year was ¥2,776.241 million, up 76.9% year on year; operating loss was ¥550.929 million, compared with an operating loss of ¥651.139 million in the prior fiscal year; ordinary loss was ¥624.769 million, compared with an ordinary loss of ¥968.535 million; and net loss was ¥657.434 million, compared with a net loss of ¥550.863 million.」
For the full year after the transition to non-consolidated reporting, revenue increased substantially, and operating and ordinary losses narrowed, while net loss widened from the prior fiscal year. - FY2023-Q3Third quarter under non-consolidated reporting, operating loss continuesAnnual report
「As a result, revenue for the nine months was ¥1,726.862 million, operating loss was ¥135.523 million, ordinary loss was ¥194.023 million, and quarterly net loss was ¥194.930 million.」
For the nine months after the transition to non-consolidated reporting, the company recorded revenue of ¥1,726.862 million, while operating, ordinary and net losses continued. - FY2023-Q2Second quarter under non-consolidated reporting, operating profit achieved but ordinary loss continuesAnnual report
「As a result, revenue for the six months was ¥1,116.111 million, operating profit was ¥11.137 million, ordinary loss was ¥42.082 million, and quarterly net loss was ¥42.687 million.」
For the six months after the transition to non-consolidated reporting, the company recorded revenue of ¥1,116.111 million and operating profit of ¥11.137 million, while ordinary loss of ¥42.082 million and quarterly net loss of ¥42.687 million continued. - FY2023-Q1First-quarter results after the transition to non-consolidated reportingAnnual report
「As a result, revenue for the first quarter was ¥610.878 million, operating loss was ¥37.991 million, ordinary loss was ¥80.652 million, and quarterly net loss was ¥80.954 million.」
For the first quarter after the transition to non-consolidated reporting, the company recorded revenue of ¥610.878 million, operating loss of ¥37.991 million, ordinary loss of ¥80.652 million and quarterly net loss of ¥80.954 million. No comparative analysis with the same period of the prior year was conducted. - FY2022Substantial Revenue Growth and Narrower LossesAnnual report
「As a result, revenue for the consolidated fiscal year was ¥1,569.232 million, up 57.5% from the prior consolidated fiscal year; operating loss was ¥919.118 million, compared with an operating loss of ¥969.687 million in the prior consolidated fiscal year; ordinary loss was ¥952.640 million, compared with an ordinary loss of ¥991.166 million; and net loss attributable to owners of the parent was ¥535.259 million, compared with a net loss attributable to owners of the parent of ¥1,001.461 million.」
Revenue increased 57.5%, while operating, ordinary and net losses attributable to owners of the parent all narrowed from the prior fiscal year. However, the company remained in the red. - FY2022-Q3Substantial Revenue Growth and Narrower LossesAnnual report
「As a result, revenue for the nine months of the consolidated fiscal year was ¥1,383.239 million, up 91.9% year on year; operating loss was ¥432.958 million, compared with an operating loss of ¥647.405 million in the same quarter of the prior year; ordinary loss was ¥460.046 million, compared with an ordinary loss of ¥660.977 million; and quarterly net loss attributable to owners of the parent was ¥94.401 million, compared with a quarterly net loss attributable to owners of the parent of ¥670.897 million.」
Revenue increased 91.9% year on year, while operating, ordinary and quarterly net losses attributable to owners of the parent all narrowed. However, the company remained in the red. - FY2022-Q2Substantial Revenue Growth and Narrower LossesAnnual report
「As a result, revenue for the six months of the consolidated fiscal year was ¥740.635 million, up 324.5% year on year; operating loss was ¥450.932 million, compared with an operating loss of ¥682.725 million in the same quarter of the prior year; ordinary loss was ¥463.616 million, compared with an ordinary loss of ¥693.599 million; and quarterly net loss attributable to owners of the parent was ¥463.221 million, compared with a quarterly net loss attributable to owners of the parent of ¥696.079 million.」
Revenue increased 324.5% year on year, while operating, ordinary and quarterly net losses attributable to owners of the parent all narrowed. However, the company remained in the red. - FY2022-Q1Higher revenue, wider operating loss, wider net lossAnnual report
「As a result, revenue for the first quarter of the consolidated fiscal year was ¥303.367 million, up 150.1% year on year; operating loss was ¥309.227 million, compared with an operating loss of ¥237.757 million in the same quarter of the prior year; ordinary loss was ¥313.646 million, compared with an ordinary loss of ¥244.341 million; and quarterly net loss attributable to owners of the parent was ¥314.021 million, compared with a quarterly net loss attributable to owners of the parent of ¥244.857 million.」
Revenue increased 150.1% year on year, while operating loss, ordinary loss and quarterly net loss attributable to owners of the parent all widened from the same quarter of the prior year. The company remained in the red. - FY2021Lower revenue, narrower operating loss, narrower net lossAnnual report
「As a result, revenue for the consolidated fiscal year was ¥996.543 million, down 7.5% from the prior consolidated fiscal year; operating loss was ¥969.687 million, compared with an operating loss of ¥1,161.396 million in the prior consolidated fiscal year; ordinary loss was ¥991.166 million, compared with an ordinary loss of ¥1,187.254 million; and net loss attributable to owners of the parent was ¥1,001.461 million, compared with a net loss attributable to owners of the parent of ¥7,316.396 million.」
Full-year revenue declined 7.5%, while operating, ordinary and net losses attributable to owners of the parent all narrowed from the prior fiscal year. The company remained in the red. - FY2021-Q3Lower revenue, narrower operating loss, narrower net lossAnnual report
「As a result, revenue for the nine months of the consolidated fiscal year was ¥720.859 million, down 1.7% year on year; operating loss was ¥647.405 million, compared with an operating loss of ¥932.220 million in the same quarter of the prior year; ordinary loss was ¥660.977 million, compared with an ordinary loss of ¥953.957 million; and quarterly net loss attributable to owners of the parent was ¥670.897 million, compared with a quarterly net loss attributable to owners of the parent of ¥6,892.342 million.」
Revenue declined 1.7% year on year, while operating, ordinary and quarterly net losses attributable to owners of the parent all narrowed. The company remained in the red. - FY2021-Q2Lower revenue, wider operating loss, narrower net lossAnnual report
「As a result, revenue for the six months of the consolidated fiscal year was ¥174.487 million, down 44.4% year on year; operating loss was ¥682.725 million, compared with an operating loss of ¥611.310 million in the same quarter of the prior year; ordinary loss was ¥693.599 million, compared with an ordinary loss of ¥613.934 million; and quarterly net loss attributable to owners of the parent was ¥696.079 million, compared with a quarterly net loss attributable to owners of the parent of ¥6,550.155 million.」
Revenue declined year on year, while operating and ordinary losses widened. However, quarterly net loss attributable to owners of the parent narrowed due to the absence of the huge impairment loss recorded in the same period of the prior year. - FY2021-Q1Lower revenue, wider operating loss, narrower net lossAnnual report
「As a result, revenue for the first quarter of the consolidated fiscal year was ¥121.294 million, down 57.3% year on year; operating loss was ¥237.757 million, compared with an operating loss of ¥209.663 million in the same quarter of the prior year; ordinary loss was ¥244.341 million, compared with an ordinary loss of ¥211.711 million; and quarterly net loss attributable to owners of the parent was ¥244.857 million, compared with a quarterly net loss attributable to owners of the parent of ¥6,147.343 million.」
Revenue declined 57.3% year on year, and operating and ordinary losses widened. However, quarterly net loss attributable to owners of the parent narrowed to ¥244.857 million due to the absence of the impairment loss recorded in the same period of the prior year. - FY2020Full-year consolidated results, huge net loss due to impairment and other factorsAnnual report
「As a result, revenue for the consolidated fiscal year was ¥1,077.737 million, operating loss was ¥1,161.396 million, ordinary loss was ¥1,187.254 million, and net loss attributable to owners of the parent was ¥7,316.396 million.」
For the full first year of consolidation, the company recorded revenue of ¥1,077.737 million, operating loss of ¥1,161.396 million, ordinary loss of ¥1,187.254 million and net loss attributable to owners of the parent of ¥7,316.396 million. - FY2020-Q3Third-quarter consolidated results, huge net loss continuesAnnual report
「As a result, revenue for the nine months of the consolidated fiscal year was ¥733.008 million, operating loss was ¥932.220 million, ordinary loss was ¥953.957 million, and quarterly net loss attributable to owners of the parent was ¥6,892.342 million.」
For the nine months of the first year of consolidation, the company recorded revenue of ¥733.008 million, operating loss of ¥932.220 million, ordinary loss of ¥953.957 million and quarterly net loss attributable to owners of the parent of ¥6,892.342 million. The company continued to report a huge net loss, including ¥5,938.405 million in impairment losses. - FY2020-Q2First year of consolidation, huge net loss continuesAnnual report
「As a result, revenue for the six months of the consolidated fiscal year was ¥313.661 million, operating loss was ¥611.310 million, ordinary loss was ¥613.934 million, and quarterly net loss attributable to owners of the parent was ¥6,550.155 million.」
For the six months of the first year of consolidation, the company recorded revenue of ¥313.661 million, operating loss of ¥611.310 million, ordinary loss of ¥613.934 million and quarterly net loss attributable to owners of the parent of ¥6,550.155 million. Net loss included ¥5,938.405 million in impairment losses related to the acquisition of Cell Technology. - FY2020-Q1First year of consolidation, huge net loss due to goodwill impairmentAnnual report
「As a result, revenue for the first quarter of the consolidated fiscal year was ¥283.959 million, operating loss was ¥209.663 million, ordinary loss was ¥211.711 million, and quarterly net loss attributable to owners of the parent was ¥6,147.343 million.」
In the first year of consolidating Cell Technology, the company recorded revenue of ¥283.959 million, operating loss of ¥209.663 million, ordinary loss of ¥211.711 million and quarterly net loss attributable to owners of the parent of ¥6,147.343 million. Net loss included ¥5,938.405 million in impairment losses on goodwill and other assets. - FY2019Lower revenue, narrower operating loss, narrower net lossAnnual report
「As a result, revenue was ¥1,021.703 million, down 3.6% year on year; operating loss was ¥805.562 million, compared with an operating loss of ¥913.499 million in the same period of the prior year; ordinary loss was ¥816.412 million, compared with an ordinary loss of ¥903.215 million; and net loss was ¥856.291 million, compared with a net loss of ¥904.557 million.」
Revenue declined, while operating, ordinary and net losses all narrowed from the same period of the prior year. The company remained in the red. - FY2019-Q3Lower revenue, narrower operating loss, wider net lossAnnual report
「Revenue was ¥618.800 million, down 20.4% year on year; operating loss was ¥466.852 million, compared with an operating loss of ¥515.698 million in the same period of the prior year; ordinary loss was ¥477.854 million, compared with an operating loss of ¥512.955 million; and quarterly net loss was ¥524.321 million, compared with a quarterly net loss of ¥513.823 million.」
For the nine months ended, revenue declined 20.4% year on year. Operating and ordinary losses narrowed, while quarterly net loss widened from the same period of the prior year. The company remained in the red. - FY2019-Q2Revenue decline and narrower lossAnnual report
「Revenue was ¥288.550 million, down 35.4% year on year; operating loss was ¥291.799 million, compared with an operating loss of ¥431.665 million in the same period of the prior year; ordinary loss was ¥301.277 million, compared with an ordinary loss of ¥427.918 million; and quarterly net loss was ¥347.270 million, compared with a quarterly net loss of ¥428.311 million.」
For the six months ended, revenue declined 35.4% year on year, while operating, ordinary and net losses all narrowed from the same period of the prior year. The company remained in the red. - FY2019-Q1Revenue Growth and Reduced LossesAnnual report
「Revenue was ¥273.850 million, up 59.6% year on year; operating loss was ¥55.549 million, compared with an operating loss of ¥118.540 million in the same period of the prior year; ordinary loss was ¥62.766 million, compared with an ordinary loss of ¥114.760 million; and quarterly net loss was ¥108.841 million, compared with a quarterly net loss of ¥115.235 million.」
Revenue increased year on year, while operating, ordinary and quarterly net losses all narrowed. However, the company remained in the red. - FY2018Revenue decline and narrower lossAnnual report
「As a result, revenue for the fiscal year was ¥1,059.727 million, down 2.7% year on year; operating loss was ¥913.499 million, compared with an operating loss of ¥1,184.408 million in the same period of the prior year; ordinary loss was ¥903.215 million, compared with an ordinary loss of ¥1,176.763 million; and net loss was ¥904.557 million, compared with a net loss of ¥1,224.554 million.」
Revenue declined 2.7% year on year, while operating, ordinary and net losses all narrowed. The company remained in the red. - FY2018-Q3Revenue Growth and Reduced LossesAnnual report
「Revenue was ¥777.261 million, up 10.2% year on year; operating loss was ¥515.698 million, compared with an operating loss of ¥936.212 million in the same period of the prior year; ordinary loss was ¥512.955 million, compared with an ordinary loss of ¥944.691 million; and quarterly net loss was ¥513.823 million, compared with a quarterly net loss of ¥991.878 million.」
For the nine months ended, revenue increased, while operating, ordinary and net losses all narrowed from the same period of the prior year. However, the company remained in the red. - FY2018-Q2Revenue decline and narrower lossAnnual report
「Revenue was ¥446.961 million, down 8.9% year on year; operating loss was ¥431.665 million, compared with an operating loss of ¥731.957 million in the same period of the prior year; ordinary loss was ¥427.918 million, compared with an ordinary loss of ¥757.346 million; and quarterly net loss was ¥428.311 million, compared with a quarterly net loss of ¥803.928 million.」
Revenue declined year on year, while operating, ordinary and net losses all narrowed. The company remained in the red. - FY2018-Q1Revenue decline and narrower lossAnnual report
「Revenue was ¥171.600 million, down 47.3% year on year; operating loss was ¥118.540 million, compared with an operating loss of ¥301.577 million in the same period of the prior year; ordinary loss was ¥114.760 million, compared with an ordinary loss of ¥325.779 million; and quarterly net loss was ¥115.235 million, compared with a quarterly net loss of ¥371.756 million.」
Revenue declined year on year, while operating loss, ordinary loss and quarterly net loss all narrowed. The company remained in the red. - FY2017WorsenedAnnual report
「Revenue was ¥1,089.360 million, down 6.2% year on year; operating loss was ¥1,184.408 million, compared with an operating loss of ¥820.289 million in the same period of the prior year; ordinary loss was ¥1,176.763 million, compared with an ordinary loss of ¥785.785 million; and net loss was ¥1,224.554 million, compared with a net loss of ¥787.685 million.」
Revenue declined year on year, while operating, ordinary and net losses widened from the prior fiscal year. - FY2017-Q3WorsenedAnnual report
「Revenue was ¥705.243 million, down 27.7% year on year; operating loss was ¥936.212 million, compared with an operating loss of ¥464.078 million in the same period of the prior year; ordinary loss was ¥944.691 million, compared with an operating loss of ¥439.305 million; and quarterly net loss was ¥991.878 million, compared with an operating loss of ¥440.730 million.」
For the nine months ended, revenue declined, while operating, ordinary and net losses widened from the same period of the prior year. - FY2017-Q2WorsenedAnnual report
「Revenue was ¥490.793 million, down 38.0% year on year; operating loss was ¥731.957 million, compared with an operating loss of ¥116.407 million in the same period of the prior year; ordinary loss was ¥757.346 million, compared with an ordinary loss of ¥99.840 million; and quarterly net loss was ¥803.928 million, compared with a quarterly net loss of ¥100.790 million.」
For the six months ended, revenue declined 38.0% year on year, while operating, ordinary and net losses widened from the same period of the prior year. - FY2017-Q1WorsenedAnnual report
「Revenue was ¥325.693 million, down 40.2% year on year; operating loss was ¥301.577 million, compared with operating profit of ¥39.599 million in the same period of the prior year; ordinary loss was ¥325.779 million, compared with ordinary profit of ¥59.700 million; and quarterly net loss was ¥371.756 million, compared with quarterly net profit of ¥55.637 million.」
The company swung from operating, ordinary and net profit in the same period of the prior year to losses, while revenue declined 40.2%. - FY2016First statedAnnual report
「Revenue was ¥1,160.890 million, up 260.9% year on year. The operating loss was ¥820.289 million, the ordinary loss was ¥785.785 million, and the net loss was ¥787.685 million.」
Revenue increased substantially on higher sales of the filgrastim biosimilar, but the company recorded ¥1,075.354 million in research and development expenses and continues to report operating, ordinary and net losses.