DVx Inc.
3079・Standard Market・Wholesale Trade
Arrhythmia Business
Sales agency business for arrhythmia diagnostic and treatment devices for cardiovascular disease (core segment accounting for approximately 81.6% of total company sales)
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales (FY2026, ending March 2026) | ¥45,709 million | ¥42,520 million (FY2025, ending March 2025) | ↑ |
| Segment profit (gross profit basis) (FY2026, ending March 2026) | ¥4,134 million | ¥4,123 million (FY2025, ending March 2025) | — |
| Share of total company sales (FY2026, ending March 2026) | 81.6% | approximately 84% (FY2025, ending March 2025) | ↓ |
| PF Ablation Catheter sales (FY2026, ending March 2026) | ¥7,582 million | – (no prior-period comparison) | ↑ |
Business Details
A sales agency business handling cardiac pacemakers, ICDs (implantable cardioverter defibrillators), CRT-Ds (implantable cardioverter defibrillators with biventricular pacing function), Electrophysiology Catheters, ablation catheters (thermal, cryo, PF), Intracardiac Echocardiography Probes, and other devices. The business model involves purchasing from medical device import trading companies and domestic medical device manufacturers, then wholesaling primarily to medical institutions. Segment profit is calculated on a gross profit basis. In FY2026 (ending March 2026), this segment accounted for 81.6% of total company sales.
Recent Overview
PF Ablation Catheter sales volume increased but gross profit declined due to suppressed reimbursement prices; overall sales increased year-on-year
Arrhythmia Business sales in FY2026 (ending March 2026) reached ¥45,709 million, an increase from ¥42,520 million in the prior period. While sales volume of the PF Ablation Catheter increased, gross profit declined due to suppressed insurance reimbursement prices. Sales of the Electrophysiology Catheter (¥11,410 million) and Intracardiac Echocardiography Probe (¥5,047 million) also remained strong. Segment profit was ¥4,134 million, roughly flat compared to the prior period (¥4,123 million). Sales to the major customer M.C. Healthcare Corporation totaled ¥6,546 million (equivalent to approximately 11.7% of total company sales).
Key Products
Growth Drivers
- Expansion of PF Ablation Catheter sales volume (accelerating adoption due to safety and procedure time reduction benefits)
- Continued strong sales of the Electrophysiology Catheter and Intracardiac Echocardiography Probe
- Expanding demand for arrhythmia treatment, including an increasing number of atrial fibrillation cases (driven by the advancement of a super-aging society)
- Promotion of nationwide sales area expansion (strategy to expand from a focus on the Kanto region to nationwide coverage)
- Strengthening of new client development and sales activities through collaboration with the Ischemia Business and Others segment
Risks
- Price pressure from continued reductions in insurance reimbursement prices for specified medical materials (declining gross profit on PF Ablation Catheter has become apparent)
- Risk of medical device manufacturers expanding direct sales to medical institutions and selecting among sales agencies
- High dependency on sales in the Kanto region, creating regional concentration risk
- Intensifying price competition due to heightened cost awareness among medical institutions and unified price negotiations across affiliated hospital groups
- Dependency on major suppliers and customers (M.C. Healthcare Corporation accounts for approximately 11.7% of total company sales)
- Risk of rising energy prices and medical supply production costs stemming from the situation in the Middle East
Last updated: June 25, 2026