Persistent losses due to front-loaded research and development spending
First written in FY2016. 20 of 38 entries say "Mitigated", first in FY2017. Latest entry: 2026-11-12.
Cyberdyne moved to the "Worse" side of this theme in 2020.
1 other company's latest entry also says "Mitigated".
- 2026-11-12MitigatedResults
「営業損失は124百万円（同28.5％減少）を計上しました。」
中間期の営業損失は前年同期の174百万円から124百万円へ縮小した。ただし営業損失は継続している。 - FY2027-H1MitigatedAnnual report
「Research and development expenses totaled ¥366 million, down 16.3% year on year, reflecting the continued development of new products and the implementation of clinical and contract research projects. Other selling, general and administrative expenses totaled ¥1,175 million, down 1.1%, due to cost reductions. Other income totaled ¥260 million, down 8.5%, mainly due to foreign exchange gains and income from contract research projects. As a result, the operating loss was ¥124 million, a 28.5% reduction.」
Research and development expenses and other selling, general and administrative expenses declined, reducing the operating loss from ¥174 million in the same period of the previous year to ¥124 million, a 28.5% improvement. The company remained in an operating loss position. - 2026-08-13MitigatedResults
「その他の販売費及び一般管理費は経費の削減により569百万円（同9.5％減少）を計上しました。その他の収益は、為替差益や受託研究事業収入などにより128百万円（同13.6％減少）を計上した結果、営業損失は17百万円（同82.9％減少）を計上しました。」
第1四半期の営業損失は前年同期の100百万円から17百万円へ縮小し、損失規模がさらに改善している。 - FY2026MitigatedAnnual report
「Other income totaled ¥546 million, down 28.7%, mainly from contract research business income and other sources, while other expenses totaled ¥45 million, down 76.8%, resulting in an operating loss of ¥601 million, compared with an operating loss of ¥926 million in the same period of the previous year.」
The operating loss narrowed from ¥926 million in the previous year to ¥601 million. Although the operating loss continued, the scale of losses arising from front-loaded R&D investment improved. - FY2025-H1MitigatedAnnual report
「R&D expenses totaled ¥408 million, up 15.3% year on year, driven, as in the previous fiscal year, by new product development, clinical research and the contract research business. Other selling, general and administrative expenses totaled ¥1,365 million, down 10.3%, due mainly to reductions in advertising and promotional expenses and purchases of consumables. Other income totaled ¥220 million, up 109.4%, mainly from contract research business income, resulting in an operating loss of ¥497 million, down 62.2%.」
Although R&D expenses increased, the operating loss narrowed from ¥1,317 million in the same period of the previous year to ¥497 million, due to reductions in advertising and promotional expenses and other items and an increase in contract research business income. - FY2024WorsenedAnnual report
「R&D expenses totaled ¥877 million, up 19.4% year on year, driven, as in the previous fiscal year, by in-house development of new products and the contract research business. Other selling, general and administrative expenses totaled ¥3,251 million, up 35.2%, due to the impact of M&A. Other income totaled ¥424 million, up 100.0%, mainly from contract research business income, while other expenses totaled ¥707 million, compared with ¥8 million in the same period of the previous year, due mainly to the recognition of impairment losses on goodwill related to domestic subsidiary C2 and other items. As a result, the operating loss was ¥2,018 million, compared with ¥1,145 million in the same period of the previous year.」
R&D expenses, selling, general and administrative expenses after M&A, and impairment losses related to C2 and other items increased, and the operating loss widened from ¥1,145 million in the previous year to ¥2,018 million. - FY2024-Q3WorsenedAnnual report
「R&D expenses totaled ¥517 million, up 4.7% year on year; other selling, general and administrative expenses totaled ¥2,293 million, up 26.4%, due to the increase from M&A in the previous period; other income totaled ¥169 million, up 116.9%, mainly from foreign exchange gains and contract research business income; and other expenses totaled ¥704 million, compared with ¥1 million in the same quarter of the previous year, due mainly to the recognition of impairment losses on goodwill related to domestic subsidiary C2 and other items. As a result, the operating loss was ¥1,603 million, up 113.9%.」
R&D expenses, selling, general and administrative expenses after M&A, and impairment losses related to C2 and other items were recognized, and the operating loss widened 113.9% from ¥749 million in the same period of the previous year to ¥1,603 million. - FY2024-Q2WorsenedAnnual report
「R&D expenses totaled ¥354 million, up 6.4% year on year; other selling, general and administrative expenses totaled ¥1,523 million, up 31.0%, due to the increase from M&A in the previous period; other income totaled ¥105 million, up 62.4%, mainly from foreign exchange gains and contract research business income; and other expenses totaled ¥689 million, compared with ¥1 million in the same quarter of the previous year, due mainly to the recognition of impairment losses. As a result, the operating loss was ¥1,317 million, up 197.8%.」
In addition to R&D expenses and selling, general and administrative expenses after M&A, other expenses, including impairment losses, increased, and the operating loss widened from ¥442 million in the same period of the previous year to ¥1,317 million. - FY2024-Q1WorsenedAnnual report
「R&D expenses totaled ¥174 million, up 15.6% year on year, driven, as in the previous fiscal year, by new product development, clinical research and the contract research business. Other selling, general and administrative expenses totaled ¥766 million, up 34.8%, due to the increase from M&A in the previous period. Other income totaled ¥67 million, up 31.8%, mainly from foreign exchange gains and contract research business income, resulting in an operating loss of ¥308 million, up 73.0%.」
R&D expenses and selling, general and administrative expenses after M&A increased, and the operating loss widened 73.0% from ¥178 million in the same period of the previous year to ¥308 million. Meanwhile, profit for the quarter attributable to owners of the parent was ¥330 million, mainly due to valuation gains on investment securities and other items. - FY2023-Q3WorsenedAnnual report
「R&D expenses totaled ¥494 million, down 5.5% year on year, driven, as in the previous fiscal year, by new product development, clinical research and the contract research business. Other selling, general and administrative expenses totaled ¥1,814 million, up 53.3%, due to the increase from M&A in the previous period. Other income totaled ¥78 million, up 18.9%, mainly from contract research business income, resulting in an operating loss of ¥749 million, up 14.2%.」
Although R&D expenses decreased, the operating loss widened 14.2% from ¥656 million in the same period of the previous year to ¥749 million, due mainly to the increase in other selling, general and administrative expenses related to M&A. - FY2023-Q2MitigatedAnnual report
「R&D expenses totaled ¥333 million, down 4.9% year on year, driven, as in the previous fiscal year, by new product development, clinical research and the contract research business. Other selling, general and administrative expenses totaled ¥1,162 million, up 48.7%, due to the increase from M&A in the previous period. Other income totaled ¥65 million, up 103.7%, mainly from contract research business income, resulting in an operating loss of ¥442 million, down 8.1%.」
The operating loss narrowed 8.1% year on year as R&D expenses decreased and contract research business income and other income increased. However, the operating loss continued. - FY2023-Q1MitigatedAnnual report
「Other income totaled ¥51 million, up 168.2%, mainly from foreign exchange gains and contract research business income, resulting in an operating loss of ¥174 million, down 38.5%. Profit for the quarter attributable to owners of the parent was ¥244 million, compared with a loss of ¥276 million in the same period of the previous year.」
The operating loss narrowed from ¥283 million in the same period of the previous year to ¥174 million. Meanwhile, profit for the quarter attributable to owners of the parent was ¥244 million, although the company remained at an operating loss. - FY2022-Q3WorsenedAnnual report
「R&D expenses totaled ¥523 million, up 2.4% year on year, driven, as in the previous fiscal year, by in-house development of new products and the contract research business. Other selling, general and administrative expenses totaled ¥1,177 million, up 22.9%. Other income totaled ¥66 million, down 43.4%, mainly from contract research business income, resulting in an operating loss of ¥650 million.」
The operating loss widened from ¥498 million in the same period of the previous year to ¥650 million, as R&D expenses and other selling, general and administrative expenses increased while contract research business income and other income decreased. - FY2022-Q2WorsenedAnnual report
「Other income totaled ¥32 million, down 62.0%, mainly from commissioned research income and other sources. As a result, the operating loss was ¥480 million, up 32.7%.」
Research and development expenses increased 1.3% year on year to ¥350 million, while other selling, general and administrative expenses increased 19.9%. The operating loss widened 32.7% from ¥362 million in the same period of the previous year to ¥480 million. - FY2022-Q1WorsenedAnnual report
「Research and development expenses totaled ¥188 million, up 4.1% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses totaled ¥391 million, up 12.8%. Other income totaled ¥19 million, down 59.9%, mainly from commissioned research income. As a result, the operating loss was ¥283 million, up 23.2%.」
Research and development expenses and other selling, general and administrative expenses increased, and the operating loss widened 23.2% from ¥230 million in the same period of the previous year to ¥283 million. - FY2021-Q3MitigatedAnnual report
「Research and development expenses totaled ¥510 million, down 9.4% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses totaled ¥958 million, down 0.2%. Other income totaled ¥116 million, up 66.1%, mainly from commissioned research income, while other expenses totaled ¥3 million, down 56.0%. As a result, the operating loss was ¥498 million, down 7.8%.」
The operating loss narrowed from ¥540 million in the same period of the previous year to ¥498 million due to lower research and development expenses and other costs and commissioned research income and other factors. However, the operating loss continued. - FY2021-Q2MitigatedAnnual report
「Research and development expenses totaled ¥345 million, down 7.2% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses totaled ¥651 million, up 3.4%. Other income totaled ¥83 million, up 78.0%, mainly from commissioned research income, while other expenses totaled ¥2 million, down 91.5%. As a result, the operating loss was ¥362 million, down 5.0%.」
Research and development expenses decreased year on year, and the operating loss narrowed from ¥380 million to ¥362 million. However, the operating loss due to front-loaded research and development spending continued. - FY2021-Q1WorsenedAnnual report
「Research and development expenses totaled ¥180 million, up 11.5% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses totaled ¥347 million, up 13.2%. Other income totaled ¥47 million, up 118.4%, mainly from commissioned research income, while other expenses totaled ¥2 million, down 85.9%. As a result, the operating loss was ¥230 million, up 32.9%.」
Research and development expenses and other selling, general and administrative expenses increased, and the operating loss for the first quarter widened 32.9% year on year to ¥230 million. Losses due to front-loaded research and development spending worsened on a quarterly basis. - FY2020WorsenedAnnual report
「Research and development expenses totaled ¥812 million, down 18.7% year on year, due to the in-house development of new products and the implementation of commissioned research, while other selling, general and administrative expenses increased to ¥1,646 million, up 13.2%. As a result, the operating loss was ¥1,039 million, up 25.1%.」
Although research and development expenses decreased, the operating loss widened 25.1% from ¥830 million in the previous fiscal year to ¥1,039 million due to higher other selling, general and administrative expenses and other factors. - FY2020-Q3WorsenedAnnual report
「Research and development expenses totaled ¥563 million, down 18.8% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses increased to ¥959 million, up 12.6%. Other income totaled ¥70 million, down 75.6%, mainly from commissioned research income, while other expenses totaled ¥8 million, up 35.1%. As a result, the operating loss was ¥540 million, up 42.6%.」
Although research and development expenses decreased, the operating loss widened from ¥378 million in the same period of the previous year to ¥540 million due to higher other selling, general and administrative expenses, lower other income and other factors. - FY2020-Q2WorsenedAnnual report
「Research and development expenses totaled ¥372 million, down 25.8% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses increased to ¥630 million, up 15.2%. Other income totaled ¥47 million, down 81.2%, mainly from commissioned research income, while other expenses totaled ¥19 million, up 6,953.6%. As a result, the operating loss was ¥380 million, up 41.7%.」
Although research and development expenses decreased, the cumulative operating loss widened 41.7% from ¥268 million in the same period of the previous year to ¥380 million due to higher selling, general and administrative expenses, lower other income and other factors. - FY2020-Q1MitigatedAnnual report
「Research and development expenses totaled ¥162 million, down 25.7% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses increased to ¥307 million, up 3.8%. Other income totaled ¥22 million, down 72.4%, mainly from commissioned research income, while other expenses totaled ¥12 million, up 173.6%. As a result, the operating loss improved by ¥34 million to ¥173 million, down 16.4%.」
Research and development expenses decreased 25.7% year on year, and the operating loss improved by ¥34 million. However, the operating loss continued. - FY2019WorsenedAnnual report
「Research and development expenses totaled ¥998 million, up 19.8% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses totaled ¥1,454 million, up 4.6%. As a result, the operating loss was ¥830 million, up 26.0%.」
Research and development expenses and selling, general and administrative expenses increased, and the operating loss widened 26.0% from ¥659 million in the previous year to ¥830 million. Losses due to front-loaded research and development spending are worsening. - FY2019-Q3MitigatedAnnual report
「Research and development expenses totaled ¥693 million, up 11.7% year on year, due to the in-house development of new products and the implementation of commissioned research. Other selling, general and administrative expenses totaled ¥851 million, up 2.4%. Other income totaled ¥286 million, up 15.8%, mainly from commissioned research income, while other expenses totaled ¥6 million, up 568.4%. As a result, the operating loss improved by ¥12 million to ¥378 million, down 3.0%.」
Although research and development expenses increased, the operating loss improved by ¥12 million, or 3.0%, year on year due to commissioned research income and other factors. However, the operating loss continued. - FY2019-Q2MitigatedAnnual report
「Research and development expenses totaled ¥501 million, up 27.8% year on year, due to the in-house development of new products and the implementation of commissioned research. Selling, general and administrative expenses decreased to ¥546 million, down 3.1%. Other income totaled ¥250 million, up 112.4%, mainly from commissioned research income. As a result, the operating loss improved by ¥46 million to ¥268 million, down 14.7%.」
Although research and development expenses increased, the operating loss improved by ¥46 million year on year due to lower selling, general and administrative expenses and higher commissioned research income. However, the operating loss and quarterly loss continued. - FY2019-Q1WorsenedAnnual report
「Research and development expenses totaled ¥217 million, up 9.2% year on year, due to the in-house development of new products and the implementation of commissioned research under JST’s ImPACT program. Other selling, general and administrative expenses increased to ¥295 million, up 1.1%. Other income totaled ¥79 million, up 49.4%, mainly from commissioned research income, while other expenses totaled ¥4 million, up 270.2%. As a result, the operating loss was ¥207 million, up 4.6%.」
The operating loss for the first quarter was ¥207 million, up 4.6% year on year due to higher research and development expenses and other costs. Losses due to front-loaded research and development spending continued. - FY2018MitigatedAnnual report
「Research and development expenses totaled ¥834 million, down 7.5% year on year, due to the in-house development of new products and the implementation of commissioned research under the “Innovative Cybernetic System for a Society with Zero Heavy Nursing Care” project within JST’s ImPACT program. Other selling, general and administrative expenses increased to ¥1,390 million, up 2.1%.」
Research and development expenses decreased 7.5% year on year to ¥834 million, and the operating loss improved by ¥39 million to ¥659 million. However, the operating loss and net loss continued. - FY2018-Q3MitigatedAnnual report
「Research and development expenses totaled ¥627,003 thousand, down 4.2% year on year, due to the in-house development of new products and the implementation of commissioned research under JST’s ImPACT program. Other selling, general and administrative expenses increased to ¥1,013,258 thousand, up 1.8%. As a result, the operating loss improved by ¥137,080 thousand to ¥824,772 thousand.」
Research and development expenses decreased 4.2% year on year, and the operating loss improved by ¥137,080 thousand from the same period of the previous year. However, the operating loss continued. - FY2018-Q2MitigatedAnnual report
「Research and development expenses totaled ¥394,294 thousand, down 7.9% year on year, due to the in-house development of new products and the implementation of commissioned research under the “Innovative Cybernetic System for a Society with Zero Heavy Nursing Care” project within JST’s ImPACT program. Other selling, general and administrative expenses totaled ¥687,155 thousand, up 5.3%, mainly due to increases in taxes and dues, including the capital-based component of enterprise tax following revisions to the size-based enterprise taxation system. As a result, the operating loss improved by ¥138,429 thousand to ¥555,968 thousand.」
Research and development expenses decreased 7.9% year on year, and the operating loss improved by ¥138,429 thousand from the same period of the previous year. However, the operating loss and quarterly net loss continued. - FY2018-Q1MitigatedAnnual report
「Research and development expenses totaled ¥198,915 thousand, down 14.4% year on year, due to the in-house development of new products and the implementation of commissioned research under the “Innovative Cybernetic System for a Society with Zero Heavy Nursing Care” project within JST’s ImPACT program. Other selling, general and administrative expenses totaled ¥353,580 thousand, up 15.2%, mainly due to increases in taxes and dues, including the capital-based component of enterprise tax following revisions to the size-based enterprise taxation system. As a result, the operating loss decreased by ¥48,099 thousand to ¥310,144 thousand.」
Research and development expenses decreased 14.4% year on year, and the operating loss decreased by ¥48,099 thousand from the same period of the previous year. However, the operating loss and quarterly net loss continued. - FY2017MitigatedAnnual report
「Research and development expenses totaled ¥902,867 thousand, down 9.9% year on year, due to the development of new products in-house and commissioned research under the “Innovative Cybernetic System for a Society with Zero Heavy Nursing Care” project within JST’s ImPACT program. Other selling, general and administrative expenses totaled ¥1,348,201 thousand, up 16.8%, mainly due to increases in taxes and dues, including the capital-based component of enterprise tax arising from the conversion of convertible bonds through the exercise of rights. As a result, the operating loss improved by ¥120,016 thousand to ¥1,172,115 thousand.」
Research and development expenses decreased 9.9% year on year, and the operating loss improved by ¥120,016 thousand from ¥1,292,132 thousand to ¥1,172,115 thousand. However, the operating loss and net loss continued. - FY2017-Q3WorsenedAnnual report
「Research and development expenses increased to ¥654,655 thousand, up 11.6% year on year, mainly due to the acceleration of commissioned research under the “Innovative Cybernetic System for a Society with Zero Heavy Nursing Care” project within JST’s ImPACT program. Other selling, general and administrative expenses totaled ¥995,726 thousand, up 13.2%, mainly due to increases in taxes and dues, including the capital-based component of enterprise tax arising from the conversion of convertible bonds through the exercise of rights. As a result, the operating loss was ¥961,852 thousand.」
The operating loss for the first 3 quarters widened from ¥861,914 thousand in the same period of the previous year to ¥961,852 thousand due to higher research and development expenses and other costs. - FY2017-Q2WorsenedAnnual report
「Research and development expenses increased to ¥428,234 thousand, up 35.6% year on year, mainly due to the acceleration of commissioned research under the “Innovative Cybernetic System for a Society with Zero Heavy Nursing Care” project within JST’s ImPACT program. Other selling, general and administrative expenses totaled ¥652,465 thousand, up 13.5%, mainly due to increases in taxes and dues, including the capital-based component of enterprise tax. As a result, the operating loss was ¥694,398 thousand.」
The operating loss widened from ¥530,708 thousand in the same period of the previous year to ¥694,398 thousand due to higher research and development expenses and other costs. The ordinary loss was ¥510,276 thousand, and the net loss attributable to owners of the parent was ¥514,604 thousand. - FY2017-Q1WorsenedAnnual report
「Research and development expenses increased substantially to ¥232,397 thousand, up 84.8% year on year, mainly due to the acceleration of commissioned research under the ImPACT program of JST (Japan Science and Technology Agency). Other selling, general and administrative expenses totaled ¥306,998 thousand, up 3.2%, mainly due to increases in taxes and dues, including the capital-based component of enterprise tax. As a result, the operating loss was ¥358,243 thousand, up 11.8%.」
The operating loss widened from ¥320,573 thousand in the same period of the previous year to ¥358,243 thousand as research and development expenses increased. The net loss attributable to owners of the parent was also ¥325,041 thousand. - FY2016First statedAnnual report
「Research and development expenses totaled ¥1,001,547 thousand due to the development of new products and the promotion of clinical trials, while other selling, general and administrative expenses totaled ¥1,154,365 thousand. As a result, the operating loss was ¥1,292,132 thousand.」
Although revenue increased, research and development expenses and other costs were incurred ahead of revenue, resulting in an operating loss, an ordinary loss and a net loss attributable to owners of the parent.