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
25.6
Year-on-year change in net sales (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationThird quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,416 million+25.6%
Operating profit¥99 million-6.7%
Ordinary income¥117 million+6.1%
Net income¥58 million +18.3%profit attributable to owners of the parent
Gross Profit Margin
Rate41.9% (existing locations)
Operating profit margin
Rate4.1%
Year-on-year change (points)-1.4 percentage points
Full-year earnings forecast
Net Sales
¥3,430 million
Operating profit
¥215 million
Ordinary income
¥218 million
Profit attributable to owners of the parent
¥151 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue was broadly in line with plan. Operating profit, ordinary profit and quarterly net income attributable to owners of the parent exceeded the third-quarter budget.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The factors affecting changes in operating profit are stated as the home-visit nursing services business, medical staffing business, gross profit, and selling, general and administrative expenses. Amounts by factor: Not disclosed.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Expansion into new areas through new store openings, improved visit efficiency through stronger management, and higher gross profit. Visit unit prices are expected to remain stable at ¥7,700–¥8,000. Other assumptions regarding foreign exchange rates, raw material prices and interest rates: Not disclosed.New initiatives
- Launch and market development of the home-visit nursing consulting business
- SaaS release of an AI-powered home-visit route planning system (scheduled shortly)
- Opening a total of 7 new locations in Kawasaki, Kanagawa Prefecture, and Itabashi, Toshima, Sumida and Kokubunji in Tokyo
- Front-loaded investment in recruiting sales personnel and advertising and promotional expenses for the medical staffing business
Key KPIsA metric the company considers important as a management benchmark.
- Average home-visit nursing headcount345 people/monthYear on year against the same period last year+56 people
- Average visits per person102 Cases/monthYear on year against the same period last year+2 properties
- Average fee per visit7,778 Yen/visitYear on year against the same period last year+¥6
- Number of usersYear on year against the same period last year+630 people (as stated in the chart)
- Cumulative visitsYear on year against the same period last year+18,733 cases (as stated in the chart)
- Number of employees412 people
- Number of hires decidedYear on year against the same period last yearIncreased
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Average home-visit nursing headcount345 people/monthYear on year against the same period last year+56 people
- Average visits per person102 Cases/monthYear on year against the same period last year+2 properties
- Average fee per visit7,778 Yen/visitYear on year against the same period last year+¥6
- Number of hires decided through the medical staffing businessYear on year against the same period last yearIncreased
- Unit price in the medical staffing businessYear on year against the same period last yearContinuous improvement
Segment results
- Home-visit nursing services businessNet Sales¥2,287 millionYear-on-Year Change in Revenue (%)22.3Segment profit¥627 millionYear-on-year change in segment profit (%)17.1
- Allied healthcare staffing businessNet Sales¥129 millionYear-on-Year Change in Revenue (%)141.7Segment profit¥-11 millionYear-on-year change in segment profitProfit growth (the prior year was a ¥34 million loss)
- AdjustmentsSegment profit¥-516 million
Financial targets
Equity ratio: 57.2% (actual for the third quarter of the fiscal year ending December 2026). Targets for ROE, ROIC, the D/E ratio and other metrics: Not disclosed.Market Size / Share
- Home healthcare and home nursing care market (2040 forecast)¥36.2 trillion
- Home-visit nursing market (2023)¥9,933 100 million
- Company revenue (13th fiscal year)¥26 100 million
Number of stores and locations
Number at period-end43 locations (as of the earnings announcement date)
Stores opened during the period7 locations
Number of employees
Number of Employees412 People as of September 2026
Change during the period113 mid-career hires and 20 returning employees in fiscal 2026
Hiring planContinue recruiting nurses and other personnel, as well as personnel for new business development and head office functions
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥2,416 million (YoY +25.6%) |
| Operating profit | ¥99 million (YoY -6.7%) |
| Ordinary income | ¥117 million (YoY +6.1%) |
| Net income | ¥58 million (profit attributable to owners of the parent) (YoY +18.3%) |
| Gross Profit Margin | Rate 41.9% (existing locations) / Year-on-year change (points) Not disclosed |
| Operating profit margin | Rate 4.1% / Year-on-year change (points) -1.4 percentage points |
| Full-year earnings forecast | Net Sales ¥3,430 million / Operating profit ¥215 million / Ordinary income ¥218 million / Profit attributable to owners of the parent ¥151 million |
| Self-assessment against the plan | Revenue was broadly in line with plan. Operating profit, ordinary profit and quarterly net income attributable to owners of the parent exceeded the third-quarter budget. |
| Segment results | Segment Home-visit nursing services business / Net Sales ¥2,287 million / Year-on-Year Change in Revenue (%) 22.3 / Segment profit ¥627 million / Year-on-year change in segment profit (%) 17.1, Segment Allied healthcare staffing business / Net Sales ¥129 million / Year-on-Year Change in Revenue (%) 141.7 / Segment profit ¥-11 million / Year-on-year change in segment profit Profit growth (the prior year was a ¥34 million loss), Segment Adjustments / Net Sales Not disclosed / Segment profit ¥-516 million |
| Breakdown of Factors Affecting the Change | The factors affecting changes in operating profit are stated as the home-visit nursing services business, medical staffing business, gross profit, and selling, general and administrative expenses. Amounts by factor: Not disclosed. |
| Key KPIs | Indicator Average home-visit nursing headcount / Value 345 people/month / Year on year against the same period last year +56 people, Indicator Average visits per person / Value 102 Cases/month / Year on year against the same period last year +2 properties, Indicator Average fee per visit / Value 7,778 Yen/visit / Year on year against the same period last year +¥6, Indicator Number of users / Value Not disclosed / Year on year against the same period last year +630 people (as stated in the chart), Indicator Cumulative visits / Value Not disclosed / Year on year against the same period last year +18,733 cases (as stated in the chart), Indicator Number of employees / Value 412 people / Year on year against the same period last year Not disclosed, Indicator Number of hires decided / Value Not disclosed / Year on year against the same period last year Increased |
| Unit price and quantity metrics | Indicator Average home-visit nursing headcount / Value 345 people/month / Year on year against the same period last year +56 people, Indicator Average visits per person / Value 102 Cases/month / Year on year against the same period last year +2 properties, Indicator Average fee per visit / Value 7,778 Yen/visit / Year on year against the same period last year +¥6, Indicator Number of hires decided through the medical staffing business / Value Not disclosed / Year on year against the same period last year Increased, Indicator Unit price in the medical staffing business / Value Not disclosed / Year on year against the same period last year Continuous improvement |
| Number of stores and locations | Number at period-end 43 locations (as of the earnings announcement date) / Stores opened during the period 7 locations / Number of store closures Not disclosed |
| Number of employees | Number of Employees 412 People (as of September 2026) / Change during the period 113 mid-career hires and 20 returning employees in fiscal 2026 / Hiring plan Continue recruiting nurses and other personnel, as well as personnel for new business development and head office functions |
| Assumptions Underlying the Business Outlook | Expansion into new areas through new store openings, improved visit efficiency through stronger management, and higher gross profit. Visit unit prices are expected to remain stable at ¥7,700–¥8,000. Other assumptions regarding foreign exchange rates, raw material prices and interest rates: Not disclosed. |
| Financial targets | Equity ratio: 57.2% (actual for the third quarter of the fiscal year ending December 2026). Targets for ROE, ROIC, the D/E ratio and other metrics: Not disclosed. |
| Market Size / Share | Item Home healthcare and home nursing care market (2040 forecast) / Value ¥36.2 trillion, Item Home-visit nursing market (2023) / Value ¥9,933 100 million, Item Company revenue (13th fiscal year) / Value ¥26 100 million |
| New initiatives | Launch and market development of the home-visit nursing consulting business, SaaS release of an AI-powered home-visit route planning system (scheduled shortly), Opening a total of 7 new locations in Kawasaki, Kanagawa Prefecture, and Itabashi, Toshima, Sumida and Kokubunji in Tokyo, Front-loaded investment in recruiting sales personnel and advertising and promotional expenses for the medical staffing business |
Items this document does not state (11)
Selling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastRisk amount incorporated into the outlookMedium-term management plan targetsAnnual 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.Revenue increased due to the addition and expansion of locations in the home-visit nursing services business and higher revenue in the medical staffing business. Operating profit declined due to higher selling, general and administrative expenses, including costs associated with expanding locations and strengthening recruitment in the home-visit nursing services business, recruitment-related expenses, head office personnel expenses and non-deductible consumption tax. Ordinary profit and net income increased due to higher subsidy income and other factors.
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