Worth reading
49Recurring
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
77.4
% (year-on-year change in operating profit)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateROELatest results: 27.5% (fiscal year ended March 2026) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.Key initiatives
01Strengthen sales capabilities by establishing a dedicated sales department
02Acquire new users
03Strengthen the support system for franchise locations
04Operate the business in smaller geographic areas with higher productivity
05Sales Enhancement
06Open new locations and accelerate the growth of existing locations
07Strengthen partnerships and increase the number of supervisors
08Build an autonomous and self-directed organization
Plan assumptionsThe proportion of the population aged 65 and over will reach 35.3% in 2040, The number of single-person households with a head of household aged 65 or over will increase from 5.928 million households in 2015 to 8.963 million households in 2040, Massage treatment reimbursements increased approximately ninefold over the 20 years from ¥8.1 billion in 1998 to ¥75.0 billion in 2020, The number of home-visit nursing users in 2022 was approximately 690,000, including those requiring support or long-term care, Approximately 51% of people aged 60 and over wish to spend their final days at home
Segment targetSegment Massage-operated business / Fiscal year ending March 2027 Net Sales ¥4,351 million / Operating profit ¥1,171 million / Fiscal year ending March 2028 Net Sales ¥4,610 million / Operating profit ¥1,240 million, Segment Massage-franchise business / Fiscal year ending March 2027 Net Sales ¥1,257 million / Operating profit ¥316 million / Fiscal year ending March 2028 Net Sales ¥1,382 million / Operating profit ¥347 million, Segment Medical care business / Fiscal year ending March 2027 Net Sales ¥965 million / Operating profit ¥144 million, Segment Other / Fiscal year ending March 2027 Net Sales ¥13 million / Operating profit ¥-190 million
Non-financial targetsIndicator Total number of claims filed by the massage-operated business / Target value 10,819 Engagements / Timing End of the fiscal year ending March 2027, Indicator Annual number of massage visits / Target value 783,638 times / Timing Fiscal year ending March 2027, Indicator Number of massage locations, including franchise locations / Target value 454 Location / Timing End of the fiscal year ending March 2027, Indicator Number of massage-operated locations / Target value 81 Location / Timing End of the fiscal year ending March 2027, Indicator Number of franchise locations / Target value 373 Location / Timing End of the fiscal year ending March 2027, Indicator Number of home-visit nursing and caregiving locations / Target value 11 Location / Timing End of the fiscal year ending March 2027, Indicator Number of small-scale multifunctional home-care locations / Target value 6 Location / Timing End of the fiscal year ending March 2027
Size of the Target MarketMarket Massage treatment reimbursements / Scale ¥8.1 billion in 1998 and ¥75.0 billion in 2020 / Growth rate Approximately ninefold growth over the past 20 years / Source Medical Economics Division and Research Division, Health Insurance Bureau, Ministry of Health, Labour and Welfare, Market Home-visit nursing users / Scale Approximately 690,000 in 2022, including those requiring support or long-term care / Growth rate Not disclosed / Source Not disclosed
Risks identified by the company
Risks related to laws and regulations and reimbursement claims in the massage-operated business (likelihood of materialization: low; timing: short term)
Risk of revisions to treatment reimbursements and long-term care fees (likelihood of materialization: medium; timing: medium to long term)
Risk of securing personnel (likelihood of materialization: medium; timing: short term)
Franchise operation risk (likelihood of materialization: low; timing: short term)
Risk of disasters, infectious diseases and other events (likelihood of materialization: medium; timing: unknown)
| Item | Details |
|---|---|
| Plan name | Medium- to long-term plans |
| Plan period | Fiscal year ended March 2025 to fiscal year ending March 2028 |
| Progress against the plan | Annual update |
| ROE target | Latest results: 27.5% (fiscal year ended March 2026) → Not disclosed |
| Segment target | Segment Massage-operated business / Fiscal year ending March 2027 Net Sales ¥4,351 million / Operating profit ¥1,171 million / Fiscal year ending March 2028 Net Sales ¥4,610 million / Operating profit ¥1,240 million, Segment Massage-franchise business / Fiscal year ending March 2027 Net Sales ¥1,257 million / Operating profit ¥316 million / Fiscal year ending March 2028 Net Sales ¥1,382 million / Operating profit ¥347 million, Segment Medical care business / Fiscal year ending March 2027 Net Sales ¥965 million / Operating profit ¥144 million, Segment Other / Fiscal year ending March 2027 Net Sales ¥13 million / Operating profit ¥-190 million |
| Non-financial targets | Indicator Total number of claims filed by the massage-operated business / Target value 10,819 Engagements / Timing End of the fiscal year ending March 2027, Indicator Annual number of massage visits / Target value 783,638 times / Timing Fiscal year ending March 2027, Indicator Number of massage locations, including franchise locations / Target value 454 Location / Timing End of the fiscal year ending March 2027, Indicator Number of massage-operated locations / Target value 81 Location / Timing End of the fiscal year ending March 2027, Indicator Number of franchise locations / Target value 373 Location / Timing End of the fiscal year ending March 2027, Indicator Number of home-visit nursing and caregiving locations / Target value 11 Location / Timing End of the fiscal year ending March 2027, Indicator Number of small-scale multifunctional home-care locations / Target value 6 Location / Timing End of the fiscal year ending March 2027 |
| Plan assumptions | The proportion of the population aged 65 and over will reach 35.3% in 2040, The number of single-person households with a head of household aged 65 or over will increase from 5.928 million households in 2015 to 8.963 million households in 2040, Massage treatment reimbursements increased approximately ninefold over the 20 years from ¥8.1 billion in 1998 to ¥75.0 billion in 2020, The number of home-visit nursing users in 2022 was approximately 690,000, including those requiring support or long-term care, Approximately 51% of people aged 60 and over wish to spend their final days at home |
| Key initiatives | Strengthen sales capabilities by establishing a dedicated sales department, Acquire new users, Strengthen the support system for franchise locations, Operate the business in smaller geographic areas with higher productivity, Sales Enhancement, Open new locations and accelerate the growth of existing locations, Strengthen partnerships and increase the number of supervisors, Build an autonomous and self-directed organization |
| Size of the Target Market | Market Massage treatment reimbursements / Scale ¥8.1 billion in 1998 and ¥75.0 billion in 2020 / Growth rate Approximately ninefold growth over the past 20 years / Source Medical Economics Division and Research Division, Health Insurance Bureau, Ministry of Health, Labour and Welfare, Market Home-visit nursing users / Scale Approximately 690,000 in 2022, including those requiring support or long-term care / Growth rate Not disclosed / Source Not disclosed |
| Risks identified | Risks related to laws and regulations and reimbursement claims in the massage-operated business (likelihood of materialization: low; timing: short term), Risk of revisions to treatment reimbursements and long-term care fees (likelihood of materialization: medium; timing: medium to long term), Risk of securing personnel (likelihood of materialization: medium; timing: short term), Franchise operation risk (likelihood of materialization: low; timing: short term), Risk of disasters, infectious diseases and other events (likelihood of materialization: medium; timing: unknown) |
Items this document does not state (15)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorResults under the previous planReason for revision or withdrawalDate of board resolutionPublication date
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 Company explained that operating profit turned profitable in the fiscal year ended March 2026 due to higher treatment fees in the massage-operated business following revisions to reimbursement for acupuncture, moxibustion and massage services, lower personnel expenses following the partial sale of medical care facilities and other facilities in September 2025, and the revenue growth effect of strong performance in the massage division.
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