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CellSource (4880) · InitiativeAdvancedLatest Earnings presentation (2026-09-08): "Softened"

Expansion of the Direct-Sales Model and Growth in the OEM Product Lineup

First written in FY2019. 7 of 19 entries say "Softened", first in FY2023-Q3. Latest entry: 2026-09-08.

19entries
7years
4from disclosures
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How it moved
ProgressHeldSoftenedWorseReframedFY2020RestatedFY2021AdvancedFY2024-Q1 – FY2024-Q2SoftenedFY2025-H1 – 2026-03-172020: 420202021: 120212022: 120222023: 420232024: 320242025: 120252026: 52026
Same theme, other companies
Shift to a New Sales Model Through Cosmetics Manufacturing and E-CommerceA theme 2 companies write about · 0 as a headwind · 2 as a tailwind

0 other companies' latest entry also says "Softened".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. FY2026-H1AdvancedAnnual report

    「In addition, as planned at the beginning of the fiscal year, we launched the "sleep-and-beauty brand" PAJUU and released Sleep Conditioning Wear.」

    In addition to its existing B2C and B2B cosmetics models, the Company launched the sleep beauty brand PAJUU as planned and proceeded through to product release. Meanwhile, cosmetics sales under the B2B model fell 11.2% year on year.
  2. FY2025-H1SoftenedAnnual report

    「The B2B model provides cosmetics ingredients developed in-house to distributors and undertakes OEM manufacturing and sales of cosmetics using the Company's own ingredients on behalf of distributors. During the six-month interim consolidated period, a decline in cosmetics sales under the B2B model resulted in net sales of ¥140.074 million.」

    The B2B model of supplying in-house-developed ingredients and providing OEM manufacturing and sales continued, but cosmetics sales under the model declined during the six-month interim consolidated period, resulting in net sales of ¥140.074 million.
  3. FY2024-Q2AdvancedAnnual report

    「In the cumulative second quarter, increased cosmetics sales under the B2B model drove net sales to ¥285.629 million, up 157.9% year on year.」

    Sales under the B2B model, including cosmetics ingredient supply and OEM services, increased, resulting in cumulative second-quarter net sales of ¥285.629 million, up 157.9% year on year.
  4. FY2024-Q1AdvancedAnnual report

    「The B2B model provides cosmetics ingredients developed in-house to distributors and undertakes OEM manufacturing and sales of cosmetics using the Company's own ingredients on behalf of distributors. In the cumulative first quarter, increased cosmetics sales under the B2B model drove net sales to ¥154.711 million, up 608.1% year on year.」

    The B2B model of supplying cosmetics ingredients and providing OEM services continued, with cosmetics sales under the model rising 608.1% year on year to ¥154.711 million. Sales turned upward this quarter after the pullback noted in FY2023.
  5. FY2023SoftenedAnnual report

    「In the current fiscal year, cosmetics sales under the B2B model, which had increased significantly in the previous fiscal year, declined on a pullback, resulting in net sales of ¥224.287 million, down 52.4% from the previous fiscal year.」

    The Company continues its B2C model of selling cosmetics through its own website and its B2B model of supplying ingredients and providing OEM services, but net sales from cosmetics sales and other operations fell 52.4% year on year due to a pullback in B2B sales.
  6. FY2023-Q3SoftenedAnnual report

    「The cosmetics sales business operates both B2C and B2B models. The B2C model primarily sells the Company's cosmetics through mail-order sales on its own website. The B2B model, which began to bear fruit in the previous fiscal year, was launched in that year and provides cosmetics ingredients developed in-house to distributors, as well as contract OEM manufacturing and sales of cosmetics using the Company's own ingredients. Net sales for the cumulative third quarter declined due to a year-on-year pullback in sales under the B2B model, totaling ¥171.196 million, down 31.6% year on year.」

    The Company continues its B2C model of selling cosmetics through its own website and its B2B model of supplying ingredients and providing OEM services, but net sales from cosmetics sales and other operations fell 31.6% year on year, reflecting a pullback in B2B sales.
  7. FY2023-Q2RestatedAnnual report

    「The cosmetics sales business operates both B2C and B2B models. The B2C model primarily sells the Company's cosmetics through mail-order sales on its own website. The B2B model was launched in the previous fiscal year and provides cosmetics ingredients developed in-house to distributors, as well as contract OEM manufacturing and sales of cosmetics using the Company's own ingredients. Net sales for the cumulative second quarter were ¥110.739 million, down 3.7% year on year.」

    The Company continues its B2C model centered on sales through its own website and its B2B model of supplying cosmetics ingredients and providing OEM services. Net sales for the cumulative second quarter fell 3.7% year on year.
  8. FY2023-Q1RestatedAnnual report

    「The cosmetics sales business operates both B2C and B2B models. The B2C model primarily sells the Company's cosmetics through mail-order sales on its own website. The B2B model was launched in the previous fiscal year and provides cosmetics ingredients developed in-house to distributors, as well as contract OEM manufacturing and sales of cosmetics using the Company's own ingredients. Net sales for the cumulative first quarter were ¥21.848 million, down 45.1% year on year.」

    The Company continues its B2C model of selling cosmetics through its own website and its B2B model, launched in the previous fiscal year, of supplying ingredients and providing OEM services. First-quarter net sales from cosmetics sales and other operations fell 45.1% year on year.
  9. FY2022AdvancedAnnual report

    「In the fiscal year, the B2B model grew, resulting in sales of ¥471,290 thousand, up 249.4% year on year.」

    In addition to the company's traditional website and in-store sales, the B2B model launched during the fiscal year, supplying cosmetic ingredients and OEM products, expanded, resulting in a 249.4% year-on-year increase in sales.
  10. FY2021RestatedAnnual report

    「Cosmetics are sold mainly through the company's own website and drugstores. Although sales declined because advertising expenses were kept down, the company is pursuing various initiatives, including cross-border e-commerce sales to China.」

    Sales initiatives through the company's own website, drugstores and cross-border e-commerce sales to China have continued.
  11. FY2020ReframedAnnual report

    「Sales methods include mail-order sales through the company's own website, online shops, sales to cosmetics wholesalers and retailers, and sales to stores such as medical institutions and drugstores. The company also undertakes OEM manufacturing of cosmetics for cosmetics sellers. It previously sold beauty devices by mail order, but discontinued that sales business in October 2020.」

    In addition to direct sales through the company's own website and OEM products, the sales mix includes stores such as medical institutions and drugstores and online shops. Mail-order sales of beauty devices were discontinued in October 2020.
  12. FY2020-Q3RestatedAnnual report

    「In the consumer business, in response to changes in the e-commerce advertising environment for cosmetics and other products, the company has been making a major shift in its advertising methods and pricing strategy on its own website since the second half of the previous fiscal year, while also gradually strengthening sales at stores such as the major drugstore chain Tomod's. However, the effects of these changes in sales strategy have not yet materialized.」

    The company has continued to change its own website advertising and pricing strategy and strengthen in-store sales, but it was stated that the effects had still not materialized as of the third quarter.
  13. FY2020-Q2Results not yet realizedAnnual report

    「In the consumer business, in response to changes in the e-commerce advertising environment for cosmetics and other products, the company has been making a major shift in its advertising methods and pricing strategy on its own website since the second half of the previous fiscal year, while also gradually strengthening sales at stores such as the major drugstore chain Tomod's. However, the effects of these changes in sales strategy have not yet materialized.」

    The company has continued to change its own website advertising and pricing strategy and strengthen in-store sales, but it was stated that the effects had still not materialized as of the second quarter.
  14. FY2020-Q1ReframedAnnual report

    「In the consumer business, in response to changes in the e-commerce advertising environment for cosmetics and other products, the company has been making a major shift in its advertising methods and pricing strategy on its own website since the second half of the previous fiscal year, while also gradually strengthening sales at stores such as the major drugstore chain Tomod's. The effects of these changes in sales strategy are expected to become apparent from the second quarter of the fiscal year onward.」

    The means of expanding the consumer business have evolved from the general policy of direct sales through the company's own website and OEM products into specific measures involving changes to its own website advertising methods and pricing strategy and stronger in-store sales through drugstores and other outlets. The effects of the changes in sales strategy are expected from the second quarter onward.
  15. FY2019First statedAnnual report

    「Expanding the direct-to-consumer model and increasing the OEM product lineup in the consumer business」

    The policy is to expand the consumer business through both direct sales on the company's own website and OEM products.
Moved together

"Expansion of Medical Equipment Sales" moved the same way as this thread, in the same document, in 5 of its 19 moves.

544333★123456
  1. ★This thread
  2. 1Expansion of Medical Equipment Sales5×
  3. 2Revenue and Profit Growth Since Founding and Expansion of the Regenerative Medicine-Related Business4×
  4. 3Increase in Partner Medical Institutions and Expansion into New Treatment Areas4×
  5. 4Expanding and stabilizing the current business and laying the groundwork for the next phase of growth3×
  6. 5Retained Earnings and Future Dividends, with Priority Given to Financial Stability and Growth Investment3×
  7. 6Sales Reliance on a Specified Medical Corporation3×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
No upcoming earnings preview for CellSource yet. It last moved in the Earnings presentation of 2026-09-08: "Softened".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Expansion of the Direct-Sales Model and Growth in the OEM Product Lineup | CellSource Co.,Ltd. (4880) | Komori