Earnings Presentation Materials for the Fiscal Year Ending March 2026 | Menicon Co.,Ltd. (7780) timely disclosure

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Direction

Mixed performance

Direction inferred from the company’s description.

Scale

3.4

Year-on-year change in revenue (%)

Wording

Avoiding a definitive answer

How definitive the wording is.

Contents of this document

Financial results presentationFiscal year ending March 202612 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net Sales¥125,605 million+3.4%

Operating profit¥10,236 million+2.2%

Ordinary income¥11,021 million+15.2%

Net income¥5,916 million+5.7%

Selling, general and administrative expenses¥57,363 million

Gross Profit Margin

Rate53.8%

Operating profit margin

Rate8.1%

Year-on-year change (points)-0.1

Full-year earnings forecast

Fiscal year ending March 2027

Net Sales

¥133,000 million

Cost of sales

¥62,000 million

Gross profit

¥71,000 million

Selling, general and administrative expenses

¥60,000 million

Operating profit

¥11,000 million

EBITDA

¥22,600 million

Ordinary income

¥10,500 million

Net income

¥6,500 million

What the company explained in this material

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Gross profit

1DAY¥30 100 million
Orthokeratology-related¥-6 100 million
Other contact lenses and care products¥10 100 million
Other¥-9 100 million

Operating profit

Increase in gross profit¥25 100 million
Other SG&A expenses¥-10 100 million
New fab¥-3 100 million
Human resources investment¥-11 100 million
Research and development¥1 100 million

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

¥180
AssumptionsEUR exchange rate
¥155
AssumptionsUSD exchange rate
¥22
AssumptionsCNY exchange rate

New initiatives

Commencement of operations and production capacity expansion at the Malaysia plant
Addition of production lines at the Singapore plant
Commencement of operations at the Kakamigahara plant
Launch of domestic sales promotion for silicone hydrogel 1-Day lenses
Launch of silicone hydrogel 1-Day lens sales in China
Expansion of supply to major retail chains in Europe and North America
Commencement of operations by the logistics subsidiary
Launch of Sears

Key KPIsA metric the company considers important as a management benchmark.

Cumulative MELS membership130 10,000 people
Year on year against the same period last year132.5万人 in the previous year
1-Day member composition ratio29 %
Year on year against the same period last year+1.0pt
Average monthly cost¥3,230
Year on year against the same period last year¥3,131 in the previous year
Global 1-Day market size146 100 million prescriptions
Menicon's global 1-Day market share3 %
Year on year against the same period last year2% in 2023
1-Day market CAGR4 %
Menicon CAGR10 %

Unit price and quantity metricsThese figures show sales broken down by price and volume.

1-Day member composition ratio29 %
Average monthly cost¥3,230
Cumulative MELS membership130 10,000 people

Segment results

Vision Care
Net Sales¥116,523 million
Year on year against the same period last year+3.7%
Healthcare and Life Care
Net Sales¥9,081 million
Year on year against the same period last year-0.9%

Medium-term management plan targets

TargetRevenue
Target value1,400 over ¥100 million
Target fiscal yearFiscal year ending March 2028
Target1-Day revenue
Target value¥460 100 million
Target fiscal yearFiscal year ending March 2028
TargetOperating margin
Target value12 %
Target fiscal yearFiscal year ending March 2028

Financial targets

Actual results

Equity ratio48.5%

Net debt-to-equity ratio0.4

Market Size / Share

Global 1-Day market
Scale146
Fiscal year2027 forecast
Menicon's global 1-Day market share
Share3
Fiscal year2023
Menicon's global 1-Day market share
Share4
Fiscal year2027 forecast

Annual Dividend

Annual dividend per share¥28

Payout ratio

Rate32 %

Acquisition of treasury shares

DescriptionShare repurchases, etc.

Contents of this document
Item	Details
Document type	Financial results presentation
Fiscal Period Covered	Fiscal year ending March 2026
Net Sales	¥125,605 million (YoY +3.4%)
Operating profit	¥10,236 million (YoY +2.2%)
Ordinary income	¥11,021 million (YoY +15.2%)
Net income	¥5,916 million (YoY +5.7%)
Gross Profit Margin	Rate 53.8% / Year-on-year change (points) Not disclosed
Operating profit margin	Rate 8.1% / Year-on-year change (points) -0.1
Selling, general and administrative expenses	¥57,363 million
Full-year earnings forecast	Subject Fiscal year ending March 2027 / Net Sales ¥133,000 million / Cost of sales ¥62,000 million / Gross profit ¥71,000 million / Selling, general and administrative expenses ¥60,000 million / Operating profit ¥11,000 million / EBITDA ¥22,600 million / Ordinary income ¥10,500 million / Net income ¥6,500 million
Segment results	Segment Vision Care / Net Sales ¥116,523 million / Year on year against the same period last year 3.7 / Profit Not disclosed, Segment Healthcare and Life Care / Net Sales ¥9,081 million / Year on year against the same period last year -0.9 / Profit Not disclosed
Breakdown of Factors Affecting the Change	Gross profit Factors 1DAY / Amount ¥30 100 million, Factors Orthokeratology-related / Amount ¥-6 100 million, Factors Other contact lenses and care products / Amount ¥10 100 million, Factors Other / Amount ¥-9 100 million / Operating profit Factors Increase in gross profit / Amount ¥25 100 million, Factors Other SG&A expenses / Amount ¥-10 100 million, Factors New fab / Amount ¥-3 100 million, Factors Human resources investment / Amount ¥-11 100 million, Factors Research and development / Amount ¥1 100 million
Key KPIs	Indicator Cumulative MELS membership / Value 130 10,000 people / Year on year against the same period last year 132.5万人 in the previous year, Indicator 1-Day member composition ratio / Value 29 % / Year on year against the same period last year +1.0pt, Indicator Average monthly cost / Value ¥3,230 / Year on year against the same period last year ¥3,131 in the previous year, Indicator Global 1-Day market size / Value 146 100 million prescriptions / Year on year against the same period last year Not disclosed, Indicator Menicon's global 1-Day market share / Value 3 % / Year on year against the same period last year 2% in 2023, Indicator 1-Day market CAGR / Value 4 % / Year on year against the same period last year Not disclosed, Indicator Menicon CAGR / Value 10 % / Year on year against the same period last year Not disclosed
Unit price and quantity metrics	Indicator 1-Day member composition ratio / Value 29 %, Indicator Average monthly cost / Value ¥3,230, Indicator Cumulative MELS membership / Value 130 10,000 people
Assumptions Underlying the Business Outlook	Assumptions EUR exchange rate / Value ¥180, Assumptions USD exchange rate / Value ¥155, Assumptions CNY exchange rate / Value ¥22
Medium-term management plan targets	Target Revenue / Target value 1,400 over ¥100 million / Target fiscal year Fiscal year ending March 2028, Target 1-Day revenue / Target value ¥460 100 million / Target fiscal year Fiscal year ending March 2028, Target Operating margin / Target value 12 % / Target fiscal year Fiscal year ending March 2028
Financial targets	Target Not disclosed / Actual results Equity ratio 48.5% / Net debt-to-equity ratio 0.4
Annual Dividend	Annual dividend per share ¥28 / Interim Not disclosed / End of period Not disclosed
Payout ratio	Rate 32 % / Total payout ratio Not disclosed / DOE Not disclosed
Acquisition of treasury shares	Buyback limit Not disclosed / Number of shares acquired Not disclosed / Period Not disclosed / Description Share repurchases, etc.
Market Size / Share	Market Global 1-Day market / Scale 146 100 million prescriptions / Fiscal year 2027 forecast, Market Menicon's global 1-Day market share / Share 3 % / Fiscal year 2023 %, Market Menicon's global 1-Day market share / Share 4 % / Fiscal year 2027 forecast
New initiatives	Commencement of operations and production capacity expansion at the Malaysia plant, Addition of production lines at the Singapore plant, Commencement of operations at the Kakamigahara plant, Launch of domestic sales promotion for silicone hydrogel 1-Day lenses, Launch of silicone hydrogel 1-Day lens sales in China, Expansion of supply to major retail chains in Europe and North America, Commencement of operations by the logistics subsidiary, Launch of Sears

Items this document does not state (9)

Results for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookCapital 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.

The Vision Care business grew as a result of increased 1-Day supply, growth in the number of MELS members, and expanded domestic and overseas sales. The increase in gross profit from expanded 1-Day sales exceeded higher expenses for human resources investment, preparations to commence operations at a new plant, and additional amortization of goodwill, resulting in higher operating profit.

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