MEDIUS HOLDINGS Co.,Ltd.
3154・Prime Market・Wholesale Trade
Business
Medius Holdings Co., Ltd. traces its origins to its founding in 1952 and transitioned to a holding company structure in 2009. It is a medical equipment sales group comprising 22 companies in total: 15 consolidated subsidiaries, 2 non-consolidated subsidiaries, and 4 affiliated companies. Its core operations are the medical equipment sales business (approximately 98% of sales), which involves the sale, repair, and maintenance of medical equipment (fixtures/fittings and consumables) for domestic hospitals and other medical facilities, and the nursing care and welfare business, which handles the sale and rental of nursing care and welfare equipment. While the Tokyo metropolitan area serves as its core market, the company is expanding regionally into Hokkaido, Tohoku, Hokuriku, Kansai, Yamanashi, and other areas, and is listed on the Prime Market of the Tokyo Stock Exchange.
Business Model
The company purchases medical equipment from domestic medical device manufacturers, distributors, and trading companies and sells it to hospitals and other medical institutions, generating its primary revenue from trading margins. In addition, it provides solution services such as SPD (outsourcing of medical supply logistics management), operating room support service "SURGELANE®," and material price optimization service "meccul®," building up value-added revenue by supporting customers' management improvement. Reducing procurement costs through joint purchasing and leveraging scale merit are key to improving profit margins.
Company Strengths
Since the establishment of the holding company in 2009, the company has continuously expanded its trading area to Hokkaido, Tohoku, Hokuriku, Kansai, Yamanashi, and other regions through ongoing M&A activity. In March 2024, it made Makoto Ikaseiki Co., Ltd. (Yamanashi) a subsidiary, achieving full-year net sales of ¥288,689 million for FY2025 (ended June 2025). The company now covers major domestic areas with a structure of 15 consolidated subsidiaries.
Based on Japan's largest medical materials database, "ASOURCE® DATABASE," the company has developed proprietary solutions including SPD (Supply Processing and Distribution), operating room management support "SURGELANE®," and materials price optimization "meccul®." By supporting hospital management improvement beyond simple equipment sales, the company deepens customer relationships and diversifies revenue.
In FY2025 (ended June 2025), an increase in the number of surgical and diagnostic cases, primarily in the orthopedic and cardiovascular fields, along with progress in acquiring new customers, drove the medical equipment sales business to achieve net sales of ¥282,688 million, up 11.3% year on year, and gross profit of ¥32,117 million, up 11.3% year on year.
ENVALITH's Perspective
Performance Trend
Revenue maintained an expansionary trend, growing from ¥259,789 million in FY2024 to ¥288,689 million in FY2025, with cumulative nine-month revenue reaching ¥227,680 million (up 3.7% year-on-year) toward the full-year FY2026 (ending March 2026) forecast of ¥305,000 million (up 5.6% year-on-year). Operating profit, meanwhile, recovered once from ¥1,327 million in FY2024 to ¥1,876 million in FY2025, but the full-year FY2026 (ending March 2026) forecast of ¥1,750 million represents a renewed decline of 6.7% year-on-year. Profit is being squeezed by rising personnel expenses (base pay increases and hiring) associated with the expanding business scale of key subsidiaries, as well as higher logistics costs driven by rising delivery unit prices and increased shipping volumes (outsourcing expenses increased from ¥1,911 million to ¥2,071 million year-on-year for the same nine-month period). As an external factor, the surge in raw material prices triggered by the situation in Iran also temporarily boosted purchasing demand ahead of price hikes. Comprehensive income fell sharply to ¥860 million (down 36.1% year-on-year), affected by a decline in valuation difference on available-for-sale securities (down ¥424 million).
Growth Strategy
Pursuing both business scale expansion and improved profitability through M&A, solution expansion, and group restructuring
Established a new consolidated subsidiary (Reps Co., Ltd., July 2025) and carried out an intra-group merger (Noah International Co., Ltd. absorbed into A-North Medical Co., Ltd., October 2025), advancing group restructuring and efficiency improvements. The company aims to expand its revenue scale by continuing to broaden its regional and functional coverage through M&A.
Positioning increased case volumes and new customer acquisition in the cardiovascular and orthopedic fields as growth drivers, the company is promoting expansion of consumables sales. In the cumulative nine months of FY2026 (ending June 2026), revenue from the medical device sales business grew steadily, up 3.7% year on year, and initiatives remain in_progress.
By leveraging SPD (in-hospital logistics management) and proprietary solution tools such as SURGELANE® and meccul®, the company is promoting a shift from simple product sales to a value-added business model. It aims to differentiate itself and improve profitability by helping resolve customer challenges.
The company continues to build up contracts in its nursing care equipment rental business while maintaining a low cancellation rate, and sustains strong performance in home renovation and lift sales, thereby expanding highly profitable recurring revenue. In the cumulative nine months of FY2026 (ending June 2026), segment profit increased 14.1% year on year, and the initiative is progressing smoothly.
Last updated: July 17, 2026