Dependence on the partnership agreement with Shionogi & Co.,Ltd. and milestone revenue
First written in FY2019. 12 of 20 entries say "Restated". Latest entry: 2026-10-06.
The whole theme swung hardest in 2021: 1 of 6 companies on the "Worse" side.
3 other companies' latest entry also says "Restated".
- FY2026-H1RestatedAnnual report
「As a result, business revenue for the interim accounting period was nil (business revenue in the same period of the previous year was also nil).」
No business revenue from contract upfront payments, milestone revenue, royalty revenue or other sources was recognized in the interim accounting period, again confirming the variability of and dependence on revenue under partnership agreements. - 2026-03-11RestatedEarnings
「The majority of the company’s current business revenue consists of milestone payments associated with development progress, and these revenues depend heavily on the development strategies and schedules of its alliance partners.」
The company’s dependence on alliance partners’ development progress and milestone payments was reconfirmed. - FY2025RestatedAnnual report
「Business revenue for the fiscal year was nil (business revenue in the same period of the previous year was ¥2,350 million).」
Business revenue was nil in the fiscal year, despite milestone revenue recognized in the previous fiscal year, again confirming the company's dependence on and exposure to fluctuations in partnership agreements and milestone revenue. - FY2025-H1RestatedAnnual report
「Business revenue for the interim accounting period was nil (business revenue in the same period of the previous year was also nil).」
No business revenue from contract upfront payments, milestone revenue, royalty revenue or other sources was recognized in the interim accounting period, again confirming the company's dependence on and exposure to fluctuations in revenue under partnership agreements. - FY2024WorsenedAnnual report
「Business revenue for the fiscal year was nil (business revenue in the same period of the previous year was ¥2,350 million).」
Business revenue was zero in the fiscal year, compared with ¥2.35 billion in milestone revenue from Shionogi in the previous year, again highlighting the company's dependence on and exposure to fluctuations in partnership agreements and milestone revenue. - FY2024-Q3WorsenedAnnual report
「Contract upfront payment — Milestone revenue — Royalty revenue — Collaborative research revenue — Other upfront payments —」
No contract upfront payments, milestone revenue, royalty revenue, collaborative research revenue or other upfront payments were recognized in the cumulative third quarter, again highlighting the company's dependence on and exposure to fluctuations in revenue under partnership agreements. - FY2024-Q1WorsenedAnnual report
「Under these circumstances, business revenue for the cumulative first quarter was nil (business revenue in the same period of the previous year was also nil).」
Business revenue was nil in the first quarter, compared with milestone revenue recognized in the third quarter of the previous fiscal year under the agreement with Shionogi, again highlighting the variability of and dependence on revenue under partnership agreements. - FY2023-Q3MitigatedAnnual report
「Contract upfront payment — Milestone revenue 2,350,000 Royalty revenue — Collaborative research revenue — Other upfront payments —」
Milestone revenue of ¥2.35 billion was recognized in the cumulative third quarter under the agreement with Shionogi, temporarily easing the revenue gap through the previous fiscal year. Revenue, however, was concentrated in milestone payments, with no royalty or other revenue recognized. - FY2023-Q1WorsenedAnnual report
「The Company operates in a single segment, the regenerative-inducing pharmaceuticals® business, and revenue disaggregated by major types of goods or services is as follows: upfront contractual payments — milestone income — royalty income — joint research income — other upfront payments —」
None of the following was recorded in the first quarter: upfront contractual payments, milestone income, royalty income, joint research income or other upfront payments. This again highlights the uncertainty of generating revenue under alliance agreements and other arrangements. - FY2022WorsenedAnnual report
「Business revenue for the fiscal year declined by ¥1,377.024 million from the previous fiscal year to ¥22.976 million, down 98.4% year on year. The business revenue resulted from receipt of an upfront payment for granting Shionogi & Co.,Ltd. a licence to use research data related to the development of regenerative-inducing pharmaceuticals.」
Business revenue declined sharply from ¥1,400.000 million to ¥22.976 million, and revenue for the fiscal year continued to depend on an upfront payment under the agreement with Shionogi & Co.,Ltd. - FY2022-Q2WorsenedAnnual report
「Upfront contractual payments — Milestone income — Royalty income — Joint research income — Other upfront payments 22,976」
The revenue breakdown for the cumulative second quarter included no upfront contractual payments, milestone income, royalty income or joint research income, and consisted solely of ¥22.976 million in other upfront payments. This again highlights the risk of dependence on revenue under alliance agreements. - FY2021RestatedAnnual report
「The Company plans to monetise subsequent pipeline products and reduce its dependence on revenue under its existing alliance agreements. However, monetisation of those products is also uncertain because it depends on development progress, and any delays in development could have a material impact on the Company’s financial results and financial position.」
The Company plans to reduce its dependence on alliance revenue from Shionogi & Co.,Ltd. through subsequent pipeline products, while explaining that the monetisation of those products is also subject to uncertainty regarding development progress. - FY2021-Q3RestatedAnnual report
「We partially satisfied the conditions for receiving the upfront payment under this agreement and received an upfront payment of ¥210 million. We expect to receive up to ¥1,190 million from Shionogi & Co.,Ltd. in the future as consideration under this agreement.」
Upfront income received and amounts scheduled to be received in the future under the alliance agreement with Shionogi & Co.,Ltd. have been reaffirmed. - FY2021-Q2RestatedAnnual report
「We partially satisfied the conditions for receiving the upfront payment under this agreement and received an upfront payment of ¥210 million. We expect to receive up to ¥1,190 million from Shionogi & Co.,Ltd. in the future as consideration under this agreement.」
Upfront income received and amounts scheduled to be received in the future under the alliance agreement with Shionogi & Co.,Ltd. have been reaffirmed. - FY2021-Q1RestatedAnnual report
「We partially satisfied the conditions for receiving the upfront payment under this agreement and received an upfront payment of ¥210 million. We expect to receive up to ¥1,190 million from Shionogi & Co.,Ltd. in the future as consideration under this agreement.」
The receipt of upfront payments and amounts scheduled to be received in the future under the agreement with Shionogi & Co.,Ltd. is presented, reaffirming the status of revenue generation under the alliance agreement. - FY2019First statedAnnual report
「The Company has granted Shionogi & Co.,Ltd. a worldwide licence, with the right to grant sublicences, to exclusively develop, manufacture, use and sell, worldwide and for pharmaceutical applications, lead compounds and lead products based on patents relating to the pharmaceutical applications of HMGB1 and HMGB1 peptides, as well as their production methods or formulations. The Company’s business revenue plan is centred on revenue from these alliance agreements.」
The Company states that business revenue for the fiscal year ended July 2019 was ¥100 million and that cumulative receipts of upfront payments and milestone income under the agreement amounted to ¥1,296 million. This indicates uncertainty regarding the timing and amount of revenue arising from contract termination or development delays.