MANI,INC.
7730・Prime Market・Precision Instruments
Surgical-related Products
High-margin segment deploying surgical instruments such as ophthalmic knives globally
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (cumulative Q3, FY2026 ending August 2026) | ¥7,392 million | ¥6,976 million (cumulative Q3, FY2025 ending August 2025) | ↑ |
| Segment profit (cumulative Q3, FY2026 ending August 2026) | ¥2,557 million | ¥2,362 million (cumulative Q3, FY2025 ending August 2025) | ↑ |
| Revenue YoY change (cumulative Q3, FY2026 ending August 2026) | up 6.0% | - | ↑ |
| Segment profit YoY change (cumulative Q3, FY2026 ending August 2026) | up 8.3% | - | ↑ |
| Revenue (full year FY2025 ending August 2025) | ¥9,274 million | - | ↑ |
| Segment profit (full year FY2025 ending August 2025) | ¥3,080 million | - | ↑ |
Business Details
This segment manufactures and sells surgical instruments including Skin Staplers, Ophthalmic Knives, Deep Suturing Devices, Bone Saws & Vascular Knives, Ophthalmic Trocars, and Vitreous Forceps. Manufacturing is handled by the Company and MANI HANOI CO., LTD., with global deployment through domestic and overseas sales subsidiaries. The mainstay Ophthalmic Knives, used for cataract surgery, are sold widely across Europe, Asia, Japan, and North America, forming the core of the global niche top strategy. The Medium-Term Management Plan 2029 targets expanding global share from 30% to 50%.
Recent Overview
Ophthalmic Knives performed well in Europe, Japan, and North America; China remained weak due to healthcare policy and inventory adjustments
In the cumulative third quarter of FY2026 (ending August 2026) (September 2025 to May 2026), revenue was ¥7,392 million (up 6.0% year on year) and segment profit was ¥2,557 million (up 8.3% year on year). Ophthalmic Knives for cataract surgery performed well mainly in Europe, Japan, and North America, driving revenue growth. Meanwhile, in China, market conditions continued to be affected by changes in healthcare policy and distributor inventory adjustments, resulting in weak sales. Segment profit increased due to revenue growth and improved gross margin from price increases. The Company also launched new Vitreous Forceps products (27G and 25G) in Japan in April 2026, and made iRIS EYE GmbH, a German ophthalmic distributor, an equity-method affiliate (acquiring 36.67% of issued equity), strengthening its sales organization in the European ophthalmic market.
Key Products
Growth Drivers
- Expanding demand for Ophthalmic Knives in Europe, Asia, Japan, and North America (increase in cataract surgery cases)
- Strengthened sales in the North American market through a strategic partnership with MicroSurgical Technology (US)
- Strengthened sales organization in the European ophthalmic market through investment in iRIS EYE GmbH (Germany), making it an equity-method affiliate
- Launch of new Vitreous Forceps products (27G and 25G) in Japan (April 2026) and overseas expansion to the U.S., Europe, India, and China
- Improved production capacity and efficiency through operation of the Hanaoka Plant (smart factory)
- Target of expanding Ophthalmic Knives' global share from 30% to 50% under the Medium-Term Management Plan 2029
- Improved gross margin from price increases
Risks
- Continued suppression of surgery volumes and distributor inventory adjustments due to China's healthcare cost policies
- Rising geopolitical risk mainly in the Middle East (the Group's sales ratio to this region is small, so impact is currently limited)
- Intensifying cost competition from emerging market companies and local-production preference policies in emerging markets
- Foreign exchange risk from yen depreciation/appreciation (high overseas sales ratio)
- Increased costs associated with launching operations at MANI MEDICAL AMERICA, INC. in the U.S.
Last updated: November 18, 2025