Worth reading
67In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
349
¥ millions (operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,644 million+11.6%
Operating profit¥349 million+35.0%
Ordinary income¥347 million+34.6%
Net income¥239 million+33.0%
Gross Profit Margin42.7 %
Operating profit margin21.2 %
Selling, general and administrative expenses¥352 million
Results for the three months of the current quarterRevenue of ¥1,644 million, gross profit of ¥701 million, operating profit of ¥349 million, ordinary profit of ¥347 million, profit attributable to owners of the parent of ¥239 million, and EBITDA of ¥486 million. All figures are Q1 results.
Full-year earnings forecast
Net Sales
¥6,600 million
Operating profit
¥1,270 million
Ordinary income
¥1,220 million
Profit attributable to owners of the parent
¥890 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales24.9%
Operating profit27.5%
Ordinary income28.5%
Profit attributable to owners of the parent26.9%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue and each profit line are progressing ahead of expectations. Secondary care is ahead of plan, while diagnostic imaging is broadly in line with plan. Home care has seen strong rental applications, although some inventory shortages have occurred.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue increase¥170 million
Personnel Expenses¥-57 million
Facilities and IT¥-33 million
Depreciation and amortization¥-24 million
Other¥-13 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The forecast was estimated cautiously, taking into account uncertainty surrounding the situation in the Middle East and other factors. In home care, some inventory shortages are expected, with inventory projected to be secured in stages in Q2. Most new product launches are scheduled to be postponed to April 2027. Numerical assumptions were Not disclosed.New initiatives
- Change the construction start timing for the new Nagoya hospital and strategically postpone the planned completion to autumn 2028
- Build an affiliated network for expansion into Fukuoka
- Launch the next-generation electronic medical record system in summer 2027
- Expand demonstration testing of AI diagnostic imaging, AI clinical decision support, and other technologies
- Roll out the integrated CRM across the group
- Change テルコム's trade name to JARMeCケアテック in October 2026
- Launch new products, enhance IoT functionality, and conduct demonstration testing of automated vital-sign monitoring
- Awareness-raising project for advanced medical care and blood donation donors
Key KPIsA metric the company considers important as a management benchmark.
- Number of initial consultations (FY2027/3 Q1)2,941 EngagementsYear on year against the same period last year+6.5%
- Number of affiliated hospitals (as of June 2026)4,804 FacilityYear on year against the same period last year+123.0%
- Affiliated hospital ratio36.8 %
- Number of veterinarians in secondary care (as of June 2026)106 peopleYear on year against the same period last year+6.0%
Segment results
Secondary Veterinary Care Services
Net Sales
¥1,214 million
Year on year against the same period last year+13.9%
Diagnostic Imaging Services
Net Sales
¥165 million
Year on year against the same period last year+5.7%
Rental and sales of veterinary medical and health management equipment (home care)
Net Sales
¥261 million
Year on year against the same period last year+5.7%
Medium-term management plan targets
Final yearFiscal year ending March 2027
Hospital revenue
¥4,900 million
Consolidated revenue
¥6,600 million
Consolidated operating profit
¥1,270 million
ROE
17 %
Comparison with actual resultsMost targets were achieved in the first and second years. The final-year earnings forecast has been revised upward from the revised plan announced in August 2025.
Financial targets
ROE
Target value17 %
Market Size / Share
Primary care facilities nationwideApproximately 13,000 facilities
Our group's affiliated hospitals and other facilitiesApproximately 7,400 facilities (approximately 57%)
Number of JARMeC-affiliated hospitals4,804 facilities (as of June 2026)
Pet insurance market size¥178.0 billion in 2025; ¥189.0 billion estimated for 2026
Total pet-related market size¥1.9749 trillion in 2025; ¥2.0279 trillion estimated for 2026
Number of stores and locations
Four hospitals nationwide, 3 diagnostic imaging centers, 3 directly operated Telcom sales offices, and 27 distributors. The number of openings and closures during the period was Not disclosed.Number of employees
The group had 328 full-time employees at the end of the fiscal year ended March 2026. The number of veterinarians in secondary care was 106 as of June 2026, up 6 from the end of the previous fiscal year. The company has expanded its hiring plan for 2027 graduates and is also strengthening recruitment of veterinary nurses.| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending March 2027 |
| Net Sales | ¥1,644 million (YoY +11.6%) |
| Operating profit | ¥349 million (YoY +35.0%) |
| Ordinary income | ¥347 million (YoY +34.6%) |
| Net income | ¥239 million (YoY +33.0%) |
| Gross Profit Margin | 42.7 % |
| Operating profit margin | 21.2 % |
| Selling, general and administrative expenses | ¥352 million |
| Results for the three months of the current quarter | Revenue of ¥1,644 million, gross profit of ¥701 million, operating profit of ¥349 million, ordinary profit of ¥347 million, profit attributable to owners of the parent of ¥239 million, and EBITDA of ¥486 million. All figures are Q1 results. |
| Full-year earnings forecast | Net Sales ¥6,600 million / Operating profit ¥1,270 million / Ordinary income ¥1,220 million / Profit attributable to owners of the parent ¥890 million |
| Progress against full-year forecast | Net Sales 24.9% / Operating profit 27.5% / Ordinary income 28.5% / Profit attributable to owners of the parent 26.9% |
| Self-assessment against the plan | Revenue and each profit line are progressing ahead of expectations. Secondary care is ahead of plan, while diagnostic imaging is broadly in line with plan. Home care has seen strong rental applications, although some inventory shortages have occurred. |
| Segment results | Secondary Veterinary Care Services Net Sales ¥1,214 million / yoy_pct 13.9 / Profit Not disclosed / Diagnostic Imaging Services Net Sales ¥165 million / yoy_pct 5.7 / Profit Not disclosed / Rental and sales of veterinary medical and health management equipment (home care) Net Sales ¥261 million / yoy_pct 5.7 / Profit Not disclosed |
| Breakdown of Factors Affecting the Change | Revenue increase ¥170 million / Personnel Expenses ¥-57 million / Facilities and IT ¥-33 million / Depreciation and amortization ¥-24 million / Other ¥-13 million |
| Key KPIs | Number of initial consultations (FY2027/3 Q1) 2,941 Engagements, Number of affiliated hospitals (as of June 2026) 4,804 Facility, Affiliated hospital ratio 36.8 %, Number of veterinarians in secondary care (as of June 2026) 106 people |
| Number of stores and locations | Four hospitals nationwide, 3 diagnostic imaging centers, 3 directly operated Telcom sales offices, and 27 distributors. The number of openings and closures during the period was Not disclosed. |
| Number of employees | The group had 328 full-time employees at the end of the fiscal year ended March 2026. The number of veterinarians in secondary care was 106 as of June 2026, up 6 from the end of the previous fiscal year. The company has expanded its hiring plan for 2027 graduates and is also strengthening recruitment of veterinary nurses. |
| Assumptions Underlying the Business Outlook | The forecast was estimated cautiously, taking into account uncertainty surrounding the situation in the Middle East and other factors. In home care, some inventory shortages are expected, with inventory projected to be secured in stages in Q2. Most new product launches are scheduled to be postponed to April 2027. Numerical assumptions were Not disclosed. |
| Medium-term management plan targets | Final year Fiscal year ending March 2027 / Hospital revenue ¥4,900 million / Consolidated revenue ¥6,600 million / Consolidated operating profit ¥1,270 million / ROE 17 % / Comparison with actual results Most targets were achieved in the first and second years. The final-year earnings forecast has been revised upward from the revised plan announced in August 2025. |
| Financial targets | ROE Target value 17 % / Actual value Not disclosed |
| Market Size / Share | Primary care facilities nationwide Approximately 13,000 facilities / Our group's affiliated hospitals and other facilities Approximately 7,400 facilities (approximately 57%) / Number of JARMeC-affiliated hospitals 4,804 facilities (as of June 2026) / Pet insurance market size ¥178.0 billion in 2025; ¥189.0 billion estimated for 2026 / Total pet-related market size ¥1.9749 trillion in 2025; ¥2.0279 trillion estimated for 2026 |
| New initiatives | Change the construction start timing for the new Nagoya hospital and strategically postpone the planned completion to autumn 2028, Build an affiliated network for expansion into Fukuoka, Launch the next-generation electronic medical record system in summer 2027, Expand demonstration testing of AI diagnostic imaging, AI clinical decision support, and other technologies, Roll out the integrated CRM across the group, Change テルコム's trade name to JARMeCケアテック in October 2026, Launch new products, enhance IoT functionality, and conduct demonstration testing of automated vital-sign monitoring, Awareness-raising project for advanced medical care and blood donation donors |
Items this document does not state (8)
Unit price and quantity metricsRisk amount incorporated into the outlookAnnual 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.This was due to steady consultation volumes in secondary care, home-care rental demand exceeding expectations, continued productivity improvements, and the contribution from the price revision implemented in June 2025 from the beginning of the current fiscal year. The increase in fixed costs from growth investments and investments in personnel, facilities, and IT, as well as inflation, was covered by higher revenue.
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