DATA HORIZON CO.,LTD.
3628・Growth Market・Information & Communication
Healthcare Business (Single Segment)
Two-pillar business of Data Health-related Services and Data Utilization Services supporting healthcare cost optimization
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (consolidated, 12 months) | ¥5,141 million | ¥3,853 million (prior consolidated fiscal year, irregular 9-month period) | ↑ |
| Operating profit | ¥22 million | △¥516 million (prior fiscal year, 9 months) | ↑ |
| Ordinary profit | ¥10 million | △¥503 million (prior fiscal year, 9 months) | ↑ |
| Profit attributable to owners of parent | ¥267 million | △¥2,964 million (prior fiscal year, 9 months) | ↑ |
| EBITDA | ¥425 million | ¥95 million (prior fiscal year, 9 months) | ↑ |
| Operating margin | 0.4% | △13.4% (prior fiscal year, 9 months) | ↑ |
| Equity ratio | 6.2% | 2.5% | ↑ |
| Net assets per share | ¥33.15 | ¥12.03 | ↑ |
| Number of Data Utilization Services client companies (most recent 12 months) | 94 companies (including 43 pharmaceutical companies, etc.) | 69 companies (including 32 pharmaceutical companies, etc.) | ↑ |
| Cash and cash equivalents at period-end | ¥1,016 million | ¥1,224 million | ↓ |
Business Details
The company develops Data Health-related Services, which analyze medical claims and specific health checkup data for insurers (municipal national health insurance, wide-area unions for the medical care system for the elderly, etc.), as well as Data Utilization Services, which utilize anonymized processed information for pharmaceutical companies, academia, and others. With its proprietary medical-related database as its core competency, the company's business purpose is to contribute to improving citizens' health and optimizing medical costs. It operates as a single segment domestically only.
Recent Overview
In FY2026 (ending March 2026), operating profit and ordinary profit turned positive, with net profit of ¥267 million
In FY2026 (ending March 2026, 12 months), the company achieved net sales of ¥5,141 million, operating profit of ¥22 million, and ordinary profit of ¥10 million, turning profitable. This was supported by reductions in fixed costs including depreciation expense, operational efficiency improvements, and optimization of staff allocation. Consolidated subsidiary DeSC Healthcare, Inc. recorded extraordinary income after receiving partial debt forgiveness (¥330 million) on borrowings from parent company DeNA, resulting in net profit of ¥267 million. On the other hand, the company recorded a valuation loss on investment securities of ¥59 million as an extraordinary loss. To cover accumulated losses, the company reduced capital stock by ¥2,106 million and capital surplus by ¥837 million, transferring the amounts to retained earnings. Although material doubt about the company's ability to continue as a going concern remains, the company has determined that no material uncertainty exists.
Key Products
Growth Drivers
- Continued high growth in Data Utilization Services (up ¥296 million year-on-year) and expansion in both number of client companies and per-client transaction value (94 client companies; transaction value per customer among the top 20 clients up 25% year-on-year)
- New order acquisition through accelerated rollout of kencom to local governments (continued expansion of the service to multiple municipalities)
- Steady expansion in the number of orders received for Data Health-related Services aimed at municipal national health insurance (up ¥144 million year-on-year)
- Improved earnings structure through reductions in fixed costs including depreciation expense, operational efficiency improvements, and optimization of staff allocation (operating income improved by ¥906 million year-on-year)
- Policy tailwind from the promotion of medical cost optimization under the Basic Policy on Economic and Fiscal Management and Reform 2025
- Productivity improvement and business structure transformation through the use of AI (initiatives aimed at FY2027, ending March 2027)
- Reduced depreciation burden from extending the useful life of kencom-related software (from 2 years to 5 years)
Risks
- Net assets remain at a low level of ¥476 million (equity ratio of 6.2%), and the situation giving rise to material doubt about the company's ability to continue as a going concern persists
- Interest-bearing debt remains at a high level of ¥5,290 million (short-term borrowings of ¥2,300 million + current portion of long-term borrowings of ¥120 million + long-term borrowings of ¥2,870 million), with a funding structure dependent on five financial institutions and parent company DeNA
- Operating cash flow remains negative at △¥219 million, with working capital dependent on external borrowing
- Risk of reduced health program budgets due to deteriorating finances of local governments and insurers
- Risk of order fluctuations in Data Health-related Services due to dependence on the data health plan formulation cycle
- Risk of additional impairment related to consolidated subsidiary DeSC Healthcare, Inc. (an impairment loss of ¥2,440 million was already recorded in the prior fiscal year)
- Accounts receivable and contract assets increased by ¥576 million, posing a risk of increased working capital associated with sales expansion
Last updated: June 29, 2026