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Financial Results Presentation4596Kubota Pharmaceutical Holdings Co.,Ltd.Pharmaceuticals

Financial Results Presentation for the Second Quarter of the Fiscal Year Ending December 2026

In the first half of 2026, business expenses increased by ¥215 million year on year, and the operating loss widened from ¥450 million to ¥650 million. Cash on hand also decreased by ¥339 million, from ¥1,919 million at the beginning of the period to ¥1,580 million. The company states that it will not disclose its full-year forecast until it can make a reasonable calculation.

Worth reading
38Recurring
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
215
¥ million
Wording
Avoiding a definitive answer
How definitive the wording is.

Contents of this document

Financial Results PresentationSecond quarter of the fiscal year ending December 20264 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥8 million-39.8%
Operating profit¥-650 million
Net income¥-649 million
Selling, general and administrative expenses¥311 million
Results for the three months of the current quarter
Business profitability
¥3 million
Year-on-year (%)-45.8
Operating Costs
¥339 million
Year-on-year (%)77.2
Research and development costs
¥174 million
Year-on-year (%)139.8
Selling, general and administrative expenses
¥145 million
Year-on-year (%)25.3
Operating profit
¥-337 million
Quarterly profit
¥-337 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Increase in business expenses¥215 million
  • Increase in cost of sales¥17 million
  • Increase in R&D expenses¥170 million
  • Increase in Selling, General and Administrative Expenses¥28 million
New initiatives
  • Launch of subscription-based sales for the Kubota Glass® My Vision program
  • Continuation of the clinical trial for pediatric myopia prevention in China
  • Early monetization of emixustat hydrochloride through a compassionate-use program in France
  • Quality improvement and manufacturing cost reduction through streamlining the Kubota Glass® production system
  • Consideration and implementation of various financing measures
Key KPIsA metric the company considers important as a management benchmark.
  • Number of patents137 Engagements
  • Share of the European Stargardt disease treatment market45 %
  • Target market share for Stargardt disease treatment candidates32.5 %
  • Target market share for VAP-1 inhibitors15.3 %
  • Target market share for eyeMO®7.5 %
Market Size / Share
  • European Stargardt disease treatment market (SOM)1,036 USD million
  • Alzheimer’s disease treatment market (SOM)7,678 USD million
  • eyeMO® target market (SOM)306 USD million
Contents of this document
ItemDetails
Document typeFinancial Results Presentation
Fiscal Period CoveredSecond quarter of the fiscal year ending December 2026
Net Sales¥8 million (YoY -39.8%)
Operating profit¥-650 million
Net income¥-649 million
Selling, general and administrative expenses¥311 million
Results for the three months of the current quarterBusiness profitability ¥3 million / Operating Costs ¥339 million / Research and development costs ¥174 million / Selling, general and administrative expenses ¥145 million / Operating profit ¥-337 million / Quarterly profit ¥-337 million
Breakdown of Factors Affecting the ChangeFactors Increase in business expenses / Amount ¥215 million, Factors Increase in cost of sales / Amount ¥17 million, Factors Increase in R&D expenses / Amount ¥170 million, Factors Increase in Selling, General and Administrative Expenses / Amount ¥28 million
Key KPIsIndicator name Number of patents / Value 137 Engagements / Year on year against the same period last year Not disclosed, Indicator name Share of the European Stargardt disease treatment market / Value 45 % / Year on year against the same period last year Not disclosed, Indicator name Target market share for Stargardt disease treatment candidates / Value 32.5 % / Year on year against the same period last year Not disclosed, Indicator name Target market share for VAP-1 inhibitors / Value 15.3 % / Year on year against the same period last year Not disclosed, Indicator name Target market share for eyeMO® / Value 7.5 % / Year on year against the same period last year Not disclosed
Market Size / ShareSubject European Stargardt disease treatment market (SOM) / Value 1,036 USD million, Subject Alzheimer’s disease treatment market (SOM) / Value 7,678 USD million, Subject eyeMO® target market (SOM) / Value 306 USD million
New initiativesLaunch of subscription-based sales for the Kubota Glass® My Vision program, Continuation of the clinical trial for pediatric myopia prevention in China, Early monetization of emixustat hydrochloride through a compassionate-use program in France, Quality improvement and manufacturing cost reduction through streamlining the Kubota Glass® production system, Consideration and implementation of various financing measures
Items this document does not state (20)
Ordinary incomeGross Profit MarginOperating profit marginFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planSegment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders 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 increase in business expenses was mainly attributable to higher research and development expenses resulting from increased manufacturing costs for emixustat hydrochloride. While personnel expenses decreased, share-based compensation expenses and patent-related expenses increased. Business revenue was affected by a change in revenue recognition associated with the introduction of subscription-based sales for Kubota Glass®.

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Financial Results Presentation for the Second Quarter of the Fiscal Year Ending December 2026 | Kubota Pharmaceutical Holdings Co.,Ltd. (4596) timely disclosure | Komori