Results for this period
Third quarter1 January 2026–30 September 2026ConsolidatedIFRSThe width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit.
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ thousand).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Business revenue was ¥11 million, down 40.7% year on year. Research and development expenses increased by ¥215 million due to higher development costs for emixustat hydrochloride, while selling, general and administrative expenses increased by ¥59 million due mainly to higher share-based compensation, IR-related expenses, and patent-related expenses.
The company has disclosed material events and other matters. It recognizes a situation giving rise to significant doubt about the going concern assumption due to continuing operating losses and negative operating cash flow, but has secured the funds required for business operations for the foreseeable future and determined that no material uncertainty exists. There are no applicable notes.
| Item | Details |
|---|---|
| Fiscal Period Classification | Third quarter |
| Accounting standards | IFRS |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–30 September 2026 |
| Net Sales | ¥11 million (YoY -40.7%) |
| Operating profit | ¥-911 million |
| Ordinary income | ¥-908 million |
| Profit attributable to owners of the parent | ¥-908 million |
| Net income per share | -¥6.34 |
| Equity ratio | End of the current fiscal period 89 / End of previous period 91.6 |
| Total assets | ¥1,580 million |
| Net assets | ¥1,407 million |
| Cash flows from operating activities | ¥-773,016 thousand |
| Cash flows from investing activities | ¥-10,772 thousand |
| Cash flows from financing activities | ¥299,285 thousand |
| Cash and cash equivalents at end of period | ¥1,427,135 thousand |
| Full-year earnings forecast | Net Sales Not disclosed / Operating profit Not disclosed / Ordinary income Not disclosed / Net income Not disclosed / Reason Not stated because a reasonable earnings forecast cannot currently be calculated |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Impairment loss | ¥14,709 thousand |
| Disclosure regarding the going concern assumption | The company has disclosed material events and other matters. It recognizes a situation giving rise to significant doubt about the going concern assumption due to continuing operating losses and negative operating cash flow, but has secured the funds required for business operations for the foreseeable future and determined that no material uncertainty exists. There are no applicable notes. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement Not disclosed |
| Changes in the scope of consolidation | New 0 / Excluded 0 / Name of newly included company Not disclosed / Excluded Company Name Not disclosed |
| Material subsequent events | At a Board of Directors meeting held on 23 October 2026, the company resolved to issue the 41st and 42nd Stock Acquisition Rights through a third-party allotment, with EVO FUND and Ryo Kubota (窪田良) as the intended allottees. The funds raised are to be allocated to research and development, commercialization, and working capital. |
| Availability of Supplementary Financial Results Materials | No |
| Availability of Financial Results Briefing | Whether applicable No / Subject person Not disclosed |
| Issued Shares at Period-End | 162,144,288 |
| Treasury Shares at Period-End | 187 |
| Factors Behind Changes in Business Performance | Business revenue was ¥11 million, down 40.7% year on year. Research and development expenses increased by ¥215 million due to higher development costs for emixustat hydrochloride, while selling, general and administrative expenses increased by ¥59 million due mainly to higher share-based compensation, IR-related expenses, and patent-related expenses. |
Items this document does not state (10)
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.For the myopia progression care device Kubota Glass®, the company is prioritizing regulatory compliance and reviewing its commercial approach, making it impossible to reasonably forecast the timing and scale of sales revenue. Research and development expenses also increased due to higher development costs for emixustat hydrochloride, while selling, general and administrative expenses increased due to higher share-based compensation, IR-related expenses, and patent-related expenses.