NICHIBAN CO., LTD.

Business Details

The company manufactures and sells pharmaceuticals, medical devices, cosmetics, medical adhesive tapes, taping tapes, and other products. Domestically, the business operates through three channels: the Healthcare Field (over-the-counter drugs for drugstores), the Medical Materials Field (for medical institutions), and the EC Field, while overseas operations comprise a Global Field focused on Asia and Europe, making four fields in total. The main customer is PIP Co., Ltd. (sales of ¥8,419 million). The company maintains a manufacturing outsourcing and overseas sales structure through subsidiaries.

Recent Overview

Sales rose slightly, but segment profit declined 4.4% due to a decrease in high-margin products

Medical Business sales for FY2026 (ending March 2026) were ¥24,936 million (up 1.4% year on year). In the Healthcare Field, Careleaves™ Series sales exceeded the same period of the previous year, while Roihi™ Series sales fell below the same period of the previous year due to diversification of inbound demand purchasing targets and other factors, leaving the field as a whole at ¥15,308 million (up 0.4%). The Global Field grew significantly to ¥2,796 million (up 13.4%), driven by the launch of "Roihi Tsuboko™ Coin Plaster" in South Korea. The Medical Materials Field came to ¥5,675 million (down 1.1%). Segment profit decreased to ¥6,325 million (down 4.4%) due to a decline in sales of high-margin products.

Key Products

Growth Drivers

• Expansion of the Global Field: achieved Global Field sales of ¥2,796 million for the period (up 13.4% year on year) through the launch of "Roihi Tsuboko™ Coin Plaster" in South Korea and other initiatives, continuing functional expansion toward the FY2030 target of a 30% global sales ratio
• Capturing online purchasing demand through strengthened WEB marketing in the EC Field (EC Field sales for the period were ¥1,155 million, up 1.9% year on year)
• Expansion of domestic demand and increased brand recognition for the Careleaves™ Series through active PR activities including TV commercials
• Expanded adoption of Surgifit™ at national university hospitals and acute care hospitals in the Medical Materials Field, and capture of vaccination-related demand for Sesablic™
• Priority allocation of management resources to growth businesses based on the medium-term management plan "CREATION 2026"

Risks

• Risk of sales fluctuation for the Roihi™ Series and other products due to diversification of inbound demand purchasing targets and changes in consumer behavior (Roihi™ Series sales in the Healthcare Field fell below the same period of the previous year during the period)
• Risk of demand fluctuation in the Healthcare Field due to seasonal and climate factors such as extreme heat or mild winters
• Risk of declining Askablic™ Series sales in the Medical Materials Field due to the shift of consumer purchasing to e-commerce
• Deterioration of the sales environment in the medical materials market due to rising material and labor costs at medical institutions and poor hospital management performance
• Risk of inventory adjustments and sluggish sales by distributors in the Global Field (Careleaves™ Series sales in South Korea fell below the same period of the previous year due to inventory adjustments and other factors)
• Risk of deteriorating segment profit margin due to a decline in the sales composition ratio of high-margin products