Soiken Holdings Inc.
2385・Growth Market・Services
Biological Evaluation System
A biomarker-utilizing business that outsources clinical evaluation testing for food and pharmaceutical products
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales (Cumulative Q3, FY2026 (ending June 2026)) | ¥168 million | ¥200 million (same period prior year) | ↓ |
| Operating Income (Cumulative Q3, FY2026 (ending June 2026)) | ¥20 million | ¥25 million (same period prior year) | ↓ |
| Orders Received (Cumulative Q3, FY2026 (ending June 2026)) | ¥173 million | Down 47.5% year on year | ↓ |
| Order Backlog (End of Q3, FY2026 (ending June 2026)) | ¥337 million | Down 1.3% from end of same period prior year | — |
| Net Sales (Full Year, FY2025 (ended June 2025)) | ¥242 million | — | — |
| Operating Income (Full Year, FY2025 (ended June 2025)) | ¥8 million | — | — |
Business Details
A business operated by Sogo Ika Kagaku Kenkyusho Co., Ltd. It is composed of two pillars: the "Evaluation Testing Business," which utilizes biomarkers and biological evaluation systems derived from university research results to undertake clinical evaluation testing related to the functionality and safety of foods, pharmaceuticals, and other products, and the "Biomarker Development Business," which grants usage rights to biomarkers and conducts joint development. Customers include food companies and pharmaceutical companies. The spread of the Foods with Function Claims system and the growing momentum toward EBM (Evidence-Based Medicine) serve as tailwinds for the business environment.
Recent Overview
Both net sales and orders received declined year on year, while order backlog remained flat at ¥337 million
For the cumulative nine months of FY2026 (ending June 2026), net sales were ¥168 million (down 16.1% year on year) and operating income was ¥20 million (down 17.2% year on year). Orders received fell sharply to ¥173 million (down 47.5% year on year), while order backlog at the end of Q3 remained at a high level of ¥337 million (down 1.3% from the end of the same period prior year), which is expected to contribute to revenue recognition going forward.
Key Products
Growth Drivers
- Expanding demand for evidence acquisition driven by the spread of the Foods with Function Claims system
- Increasing demand for clinical evaluation testing amid growing momentum for EBM (Evidence-Based Medicine)
- Accumulated order backlog of ¥337 million at the end of Q3 expected to contribute to future revenue recognition
- Strengthening of subject recruitment functions utilizing the subject bank
- Concentration of management resources on the Evaluation Testing Business following the discontinuation of the pharmaceutical clinical research support business
Risks
- Seasonality and concentration risk in orders received (order backlog accumulates, but revenue is recognized only after test completion)
- Orders received in the cumulative Q3 period fell sharply by 47.5% year on year, raising the risk of a future decline in order backlog levels
- Demand fluctuation risk dependent on R&D investment trends of food and pharmaceutical companies
- Risks related to maintaining relationships with university researchers and incorporating research results
- Reduction in revenue scale due to discontinuation of the pharmaceutical clinical research support business (distorting year-on-year comparisons)
Last updated: September 24, 2025