Matsuya R&D Co., Ltd
7317・Growth Market・Transportation Equipment
Medical Healthcare Business
Core segment centered on manufacturing and sales of blood pressure monitor cuffs, accounting for approximately 70% of group sales
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Sales (Full Year) | ¥6,809 million | ¥6,060 million | ↑ |
| Segment Profit (Full Year) | ¥2,124 million | ¥1,988 million | ↑ |
| Segment Profit Margin (Full Year) | 31.2% | 32.8% | ↓ |
| Segment Assets | ¥5,481 million | ¥4,841 million | ↑ |
| Depreciation (Full Year) | ¥96 million | ¥83 million | ↑ |
| Impairment Loss (Full Year) | ¥32 million | ¥0 million | ↓ |
| Increase in Tangible/Intangible Fixed Assets (Full Year) | ¥384 million | ¥193 million | ↑ |
| Sales to Major Customer (OMRON Healthcare Manufacturing Vietnam) | ¥4,550 million | ¥4,349 million | ↑ |
| Sales to Major Customer (Gaoli Technology Development (Dalian) Co., Ltd.) | ¥1,989 million | ¥1,493 million | ↑ |
Business Details
Manufactures and sells blood pressure monitor cuffs on a build-to-order basis for the Omron Group (OMRON Healthcare Manufacturing Vietnam CO.,LTD., etc.), primarily in Vietnam and Myanmar. Production plans based on customer forecasts enable efficient operations with low inventory risk, and since some equipment is customer-funded, the risk of unrecovered capital investment is also low. The segment also develops, manufactures, and sells Automated Sewing Machines for Medical Healthcare and sells the Rehabilitation & Medical Robot (LunaEMG).
Recent Overview
Increased sales and profit driven by steady orders for blood pressure monitor cuffs and yen depreciation effect; also achieved first delivery of LunaEMG
In the Medical Healthcare Business for FY2026 (ending March 2026), production volume of blood pressure monitor cuffs increased due to the yen depreciation against the dollar and steady order trends, resulting in increased sales and profit. Sales were ¥6,809 million (up 12.4% year-on-year), and segment profit was ¥2,124 million (up 6.9% year-on-year), both renewing record highs. Meanwhile, the rehabilitation robot LunaEMG achieved its first delivery as a result of promotional activities including exhibition participation, gaining a foothold for future sales expansion. Note that the Medical Healthcare segment recorded an impairment loss of ¥32 million.
Key Products
Growth Drivers
- Production capacity expansion through construction of a new plant near the Vietnam plant (Matsuya R&D Vietnam), scheduled for completion in September 2026
- Boost to sales and profit of blood pressure monitor cuffs from the yen's depreciation against the dollar
- Scale expansion through steady order trends and increased production volume of blood pressure monitor cuffs
- Cultivation of a new revenue source starting from the achievement of the first delivery of the rehabilitation robot LunaEMG
- Low inventory risk and stable earnings structure due to the build-to-order model
- Improved production efficiency through promotion of process automation and labor savings
Risks
- Risk of sales concentration in the Omron Group (sales to OMRON Healthcare Manufacturing Vietnam alone account for approximately 46.6% of consolidated sales)
- Foreign exchange risk (downward pressure on sales and profit from a shift to yen appreciation)
- Risk of business continuity and management policy changes associated with the progress of the tender offer by Omron Healthcare (planned delisting)
- Geopolitical and country risk at the Vietnam and Myanmar plants
- Impact on sales to China (Gaoli Technology Development (Dalian) Co., Ltd.) from deteriorating relations with China stemming from the Taiwan contingency issue
- Risk of increased capital investment and delayed operation start associated with the construction of the new plant
Last updated: June 26, 2026