Worth reading
29Immaterial
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
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateWhat happened to the previous planRevenue of ¥1,300 million and current-period loss of ¥650 million (initial earnings forecast for fiscal 2025) → Revenue of ¥429 million and current-period loss of ¥876 million (actual results for fiscal 2025)0.0%Calculated from the two disclosed figures
Key initiatives
01Strengthening partnerships
02Strengthening product sales and expanding potential
03Advancing development
Size of the Target MarketThe global pharmaceutical market was $1.6125 trillion in 2024, representing 9.1% year-on-year growth. China's anticancer drug market is expected to grow from approximately ¥8.3 trillion in 2025 to ¥13.7 trillion in 2030, with average annual growth of approximately 14% over the past five years. Sources: Japan Pharmaceutical Manufacturers Association, DATABOOK2026; China Oncology Innovative Drug Market Research Report, Frost & Sullivan Consulting Co., 2022.
Risks identified by the company
Uncertainty in Pharmaceutical Research and Development
Uncertainty in licensing partnerships for products under development
Reason for revision or withdrawal
The execution of the new Sancuso China partner agreement and the resulting deferral to fiscal 2026. The deferral of Sancuso China product sales and product shipments to fiscal 2026 due to the prolonged Chinese immigration procedures, including analytical testing. The termination of Firebird's agreements covering Dalvías and episil in Oceania and other regions, due to Firebird's breach of contract. Favorable progress in the Phase Ib/II trial and Phase I component trial for SP-05 resulted in the deferral of investment in the Phase II component trial to fiscal 2026.
| Item | Details |
|---|---|
| Plan name | 2026 Business Plan |
| Plan period | 2026 |
| Progress against the plan | Annual update |
| Key initiatives | Strengthening partnerships, Strengthening product sales and expanding potential, Advancing development |
| Results under the previous plan | Revenue of ¥1,300 million and current-period loss of ¥650 million (initial earnings forecast for fiscal 2025) → Revenue of ¥429 million and current-period loss of ¥876 million (actual results for fiscal 2025) |
| Reason for revision or withdrawal | The execution of the new Sancuso China partner agreement and the resulting deferral to fiscal 2026. The deferral of Sancuso China product sales and product shipments to fiscal 2026 due to the prolonged Chinese immigration procedures, including analytical testing. The termination of Firebird's agreements covering Dalvías and episil in Oceania and other regions, due to Firebird's breach of contract. Favorable progress in the Phase Ib/II trial and Phase I component trial for SP-05 resulted in the deferral of investment in the Phase II component trial to fiscal 2026. |
| Size of the Target Market | The global pharmaceutical market was $1.6125 trillion in 2024, representing 9.1% year-on-year growth. China's anticancer drug market is expected to grow from approximately ¥8.3 trillion in 2025 to ¥13.7 trillion in 2030, with average annual growth of approximately 14% over the past five years. Sources: Japan Pharmaceutical Manufacturers Association, DATABOOK2026; China Oncology Innovative Drug Market Research Report, Frost & Sullivan Consulting Co., 2022. |
| Risks identified | Uncertainty in Pharmaceutical Research and Development, Uncertainty in licensing partnerships for products under development |
| Publication date | 30 March 2026 |
Items this document does not state (16)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsPlan 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 main reasons fiscal 2025 actual results fell below the initial earnings forecast were the deferral to fiscal 2026 of the new Sancuso China partner agreement and product shipments, the termination of Firebird's agreements for Dalvías and episil, and the deferral to fiscal 2026 of investment in SP-05 trials.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.