Worth reading
37Immaterial
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
-3.3
% (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales-3.3%
基準 4,815Target4,655million
Operating profit+0.0%
基準 2,026Target2,027million
Operating profit margin+1.0pt
基準 2,026Target2,027％
Net income for the current fiscal year+0.0%
基準 2,026Target2,027million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Statements about the use of capital
Payout ratio / DOE policyFor the fiscal year ending March 2027, the company forecasts a dividend payout ratio of 35.4% and DOE of 5.0%. The annual dividend is forecast at ¥100.00 per share.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Eliminate reliance on individual employees and improve the reproducibility of quality and productivity by structuring the business through the standardization and automation of business processes
02Redefine the value proposition of the company's existing document support services, make proposals based on the revised proposition, and expand new orders
03Business strategy for process services – development of new processes
04Reorganization of the division of work between customers and the company
05Introduction of automation tools
06Promotion of new transfers of operations
07Introduction of a platform (PF)
08Business strategy for process services – strengthening operations services
09Further advance the achievement of both high quality and low prices by introducing a quality assurance system and a system for visualizing productivity
Plan assumptionsCRO services revenue had a CAGR of 4.3% from 2014 to 2025. Safety information management services revenue had a CAGR of +7.3% from 2014 to 2024 and declined 32.1% year on year in 2025. Since 2022, the CRO industry has remained broadly flat as the market has matured.
Size of the Target MarketCRO services market: ¥206.2 billion in 2025, with a CAGR of 4.3% from 2014 to 2025. Safety information management services market: ¥22.8 billion in 2025, with a CAGR of +7.3% from 2014 to 2024 and a 32.1% year-on-year decline in 2025. Sources include the Japan CRO Association's 2014–2025 Annual Performance Reports and materials from the Pharmaceuticals and Medical Devices Agency, among others.
Risks identified by the company
Industry and customer trends: The company may be significantly affected by the business environment in the pharmaceutical industry and the management policies of pharmaceutical companies. Mergers and integrations among pharmaceutical companies may lead to the selection of CRO providers, while changes in management policies may alter selection policies and the scope of outsourced work. Likelihood: Medium; timing: Ongoing.
The company's financial position and operating results may be affected by its high dependence on specific customers, with its top 3 customers accounting for 42.7% of revenue
| Item | Details |
|---|---|
| Plan name | Business Plan for the Fiscal Year Ended March 2026 |
| Plan period | Fiscal year ending March 2027 |
| Progress against the plan | Annual update |
| Sales Target | 4,815 (fiscal year ended March 2026 actual) → 4,655 (fiscal year ending March 2027 forecast)（△3.3%） |
| Operating profit target | 957 (fiscal year ended March 2026 actual) → 960 (fiscal year ending March 2027 forecast)（+0.3%） |
| Operating profit margin target | 19.9% (actual for the fiscal year ended March 2026) → 20.6% (fiscal year ending March 2027 forecast) |
| Net income target | 679 (fiscal year ended March 2026 actual) → 680 (fiscal year ending March 2027 forecast)（+0.1%） |
| Payout ratio / DOE policy | For the fiscal year ending March 2027, the company forecasts a dividend payout ratio of 35.4% and DOE of 5.0%. The annual dividend is forecast at ¥100.00 per share. |
| Plan assumptions | CRO services revenue had a CAGR of 4.3% from 2014 to 2025. Safety information management services revenue had a CAGR of +7.3% from 2014 to 2024 and declined 32.1% year on year in 2025. Since 2022, the CRO industry has remained broadly flat as the market has matured. |
| Key initiatives | Eliminate reliance on individual employees and improve the reproducibility of quality and productivity by structuring the business through the standardization and automation of business processes, Redefine the value proposition of the company's existing document support services, make proposals based on the revised proposition, and expand new orders, Business strategy for process services – development of new processes, Reorganization of the division of work between customers and the company, Introduction of automation tools, Promotion of new transfers of operations, Introduction of a platform (PF), Business strategy for process services – strengthening operations services, Further advance the achievement of both high quality and low prices by introducing a quality assurance system and a system for visualizing productivity |
| Size of the Target Market | CRO services market: ¥206.2 billion in 2025, with a CAGR of 4.3% from 2014 to 2025. Safety information management services market: ¥22.8 billion in 2025, with a CAGR of +7.3% from 2014 to 2024 and a 32.1% year-on-year decline in 2025. Sources include the Japan CRO Association's 2014–2025 Annual Performance Reports and materials from the Pharmaceuticals and Medical Devices Agency, among others. |
| Risks identified | Industry and customer trends: The company may be significantly affected by the business environment in the pharmaceutical industry and the management policies of pharmaceutical companies. Mergers and integrations among pharmaceutical companies may lead to the selection of CRO providers, while changes in management policies may alter selection policies and the scope of outsourced work. Likelihood: Medium; timing: Ongoing., The company's financial position and operating results may be affected by its high dependence on specific customers, with its top 3 customers accounting for 42.7% of revenue |
| Publication date | 24 June 2026 |
Items this document does not state (12)
ROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planReason for revision or withdrawalDate 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.Revenue is expected to decline because the decrease in the number of adverse-event cases at certain customers of the company's core safety information management services is expected to continue from the previous fiscal year.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
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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.