Worth reading
53Recurring
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
-340
¥ million (change from actual operating income for the fiscal year ended March 2026 to the forecast for the fiscal year ending March 2027)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+466.7%
基準 3Target17million (business revenue)
Operating profit+28.2%
基準 1,207Target1,547million
Net income for the current fiscal year+34.8%
基準 1,145Target1,543million
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.
What happened to the previous planPhase 2 target → Phase 2 target achieved0.0%Calculated from the two disclosed figures
Key initiatives
01Out-license development-stage products in the drug discovery business and promote the expansion of key development programs
02Advance the development of next-generation aptamer technologies with the aim of commercializing them
03Newly add drug discovery support services to the business model
04Renew the management platform to improve efficiency and streamline operations and to respond flexibly to changes in the operating environment
Non-financial targetsIndicator name Phase 3 participants / Target value 16 / Timing April 2026 to the first half of 2028, Indicator name RBM-007 approval / Target value Approval in 2029 / Timing 2029
Size of the Target MarketMarket Global market for ACH treatment VOXZOGO / Figures Revenue graph for 2022–2026 / Source BioMarin annual results (FY2022–FY2025) and company disclosures, Market Wet AMD market in 7 major countries / Figures 2022: US$6.5B; 2026: US$7.3B; 2032: US$10.9B / Source Citeline Datamonitor Healthcare, data as of May 20, 2024, Market PAH market / Figures US$1.35B / Source Informa, Datamonitor Healthcare（2022/6/20）
Risks identified by the company
Pharmaceutical research and development generally: risk of failing to identify promising aptamers, risk of development being discontinued or delayed, and risk of patent applications not being granted
Matters relating to the Company's shares: risk of a hostile takeover and risk of delisting for failing to meet the Growth Market's market capitalization criteria
Matters relating to the corporate organization: risk that the Representative Director and President will become unable to perform management duties, and risk of the departure of highly capable research personnel
Liquidity: risk that it will take time to generate stable revenue and that the Company will be unable to secure funds when needed
Reason for revision or withdrawal
DME was added as a disease following the expansion of indications. Due to changes in development priorities, wet AMD and ACH were reordered based on progress.
| Item | Details |
|---|---|
| Plan name | Vision 2030; FY2026 Business Plan |
| Plan period | Vision 2030: 2030; FY2026 Business Plan: actual results for the fiscal year ended March 2026 to forecast for the fiscal year ending March 2027 |
| Progress against the plan | Annual update |
| Sales Target | ¥3 million (business revenue) → ¥17 million (business revenue)（466.7%） |
| Operating profit target | ▲1,207 → ▲1,547 |
| Net income target | ▲1,145 → ▲1,543 |
| Non-financial targets | Indicator name Phase 3 participants / Target value 16 / Timing April 2026 to the first half of 2028, Indicator name RBM-007 approval / Target value Approval in 2029 / Timing 2029 |
| Key initiatives | Out-license development-stage products in the drug discovery business and promote the expansion of key development programs, Advance the development of next-generation aptamer technologies with the aim of commercializing them, Newly add drug discovery support services to the business model, Renew the management platform to improve efficiency and streamline operations and to respond flexibly to changes in the operating environment |
| Results under the previous plan | Phase 2 target → Phase 2 target achieved |
| Reason for revision or withdrawal | DME was added as a disease following the expansion of indications. Due to changes in development priorities, wet AMD and ACH were reordered based on progress. |
| Size of the Target Market | Market Global market for ACH treatment VOXZOGO / Figures Revenue graph for 2022–2026 / Source BioMarin annual results (FY2022–FY2025) and company disclosures, Market Wet AMD market in 7 major countries / Figures 2022: US$6.5B; 2026: US$7.3B; 2032: US$10.9B / Source Citeline Datamonitor Healthcare, data as of May 20, 2024, Market PAH market / Figures US$1.35B / Source Informa, Datamonitor Healthcare（2022/6/20） |
| Risks identified | Pharmaceutical research and development generally: risk of failing to identify promising aptamers, risk of development being discontinued or delayed, and risk of patent applications not being granted, Matters relating to the Company's shares: risk of a hostile takeover and risk of delisting for failing to meet the Growth Market's market capitalization criteria, Matters relating to the corporate organization: risk that the Representative Director and President will become unable to perform management duties, and risk of the departure of highly capable research personnel, Liquidity: risk that it will take time to generate stable revenue and that the Company will be unable to secure funds when needed |
| Publication date | June 2026 |
Items this document does not state (12)
Operating profit margin targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetPlan assumptionsDate 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.The operating loss is expected to widen as research and development expenses increase in connection with the Phase 3 clinical trial of RBM-007, while business revenue is expected to increase from the drug discovery support services provided through the DDS technology.
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.