ASAHI INTECC CO., LTD.
7747・Prime Market・Precision Instruments
Business
Asahi Intecc was founded in 1976, starting out as a seller of ultra-fine stainless steel wire ropes, and has since developed into a research-and-development-driven medical device manufacturer focused on the development, manufacture, and sale of minimally invasive treatment products (guidewires and catheters) used in endovascular therapy. As a group including 18 consolidated subsidiaries, the company supplies products to 121 countries and regions worldwide. In addition to its core Medical Business (approximately 90% of net sales), the company operates a Device Business that provides components for medical and industrial equipment. It has established an integrated production system from raw materials to finished products at overseas plants in Thailand, Vietnam, and the Philippines, and has built direct sales structures in the United States and major European countries.
Business Model
Building on four core technologies—wire drawing, wire forming, coating, and torque—the company has established an integrated production system from raw materials to finished products at its overseas plants. Domestically, products are sold directly; overseas, direct sales are conducted in the US, France, Germany, and Italy, while sales to hospitals in other regions are handled through distributors. The Medical Business maintains a high segment profit margin of 31.0% (FY2025, ended June 2025). R&D expenses continue to be invested at approximately 10% of revenue, continuously strengthening technological superiority.
Company Strengths
Since commercializing Japan's first PCI Guidewire for myocardial infarction treatment in 1992, the company has expanded its product lineup into high-difficulty treatment areas such as products for CTO lesions. In FY2025 (ended June 2025), Medical Business sales were ¥107,779 million (up 12.7% year on year), with the company continuing to expand its share across all regions, a position underpinned by its track record of supply to 121 countries worldwide.
The company has established an integrated production system spanning from raw materials to finished products across three overseas plants in Thailand, Vietnam, and the Philippines. In principle, production of mass-produced items has been transferred to overseas plants, while domestic operations focus on R&D and prototyping, improving productivity. In FY2025 (ended June 2025), the gross profit margin reached 67.7%, and the Medical Business segment profit margin reached a high level of 31.0%.
The company achieves a technology cycle between medical devices and industrial equipment centered on its four core technologies of wire drawing, wire forming, coating, and torque. In FY2025 (ended June 2025), R&D expenses were ¥12,248 million (approximately 10.2% of sales). The company continues to launch new products such as the "CROSSLEAD" series for peripheral vascular treatment and "CHIKAI Nexus 014" for cerebrovascular treatment, accelerating its expansion into non-cardiovascular fields.
ENVALITH's Perspective
Performance Trend
Revenue expanded roughly twofold over five periods, from ¥61,507 million in FY2021 to ¥120,025 million in FY2025. For the nine months through Q3 of FY2026 (ending June 2026), the company has already recorded ¥108,366 million (up 18.0% year on year), tracking strongly toward the full-year forecast of ¥141,142 million (up 17.6% year on year). Operating profit expanded at an accelerating pace to ¥37,414 million (up 45.5% year on year), driven by a rise in gross margin (productivity improvements) and relative restraint in SG&A expenses. Net profit surged 204.2%, a sharp recovery following the drop-off of the impairment loss (¥9,300 million) recorded in the prior period. As an external factor, appreciation of the euro and Thai baht (up 9.7% and 7.9% year on year, respectively) boosted the yen-denominated value of overseas sales. The consolidation of Nitta Moore as a subsidiary is also accelerating growth in the Device Business.
Growth Strategy
"Building the Future 2030" targets net sales of ¥180,000 million and an operating margin of 28% by 2030
In addition to expanding market share across all regions in the cardiovascular field, centered on PCI Guidewire and Penetration Catheter, the company is promoting global rollout of Peripheral, Abdominal & Cerebrovascular Products (non-cardiovascular). Medical Business net sales for the cumulative nine months of FY2026 (ending March 2026) reached ¥94,766 million (up 14.6% year on year), and progress against the plan remains on track.
While actively investing in sales-related expenses aimed at strengthening sales in the US, the company is progressively promoting direct sales conversion in major European countries (France, Germany, Italy). Through in-housing of distributor margins, the company aims to improve profit margins over the medium to long term. In the current period, despite an increase in SG&A expenses (¥39,374 million, up 7.7% year on year), an operating margin of 34.5% was achieved.
Following the consolidation of Nitta Moore Co., Ltd. and NITTA M&T (THAILAND) CO., LTD. as subsidiaries (from July 2025), net sales expanded rapidly in both Medical Components (Cardiovascular Catheter Components) and Industrial Components (Wire Ropes for Leisure, Construction, Automotive, etc.). The Device Business recorded external customer net sales of ¥13,600 million (up 49.5% year on year) and segment profit of ¥7,274 million (up 88.6%), demonstrating a marked contribution.
The company continues to maintain and strengthen its integrated production system at overseas plants in Thailand, Vietnam, the Philippines, and other locations, while continuing to improve productivity. The cost of sales ratio for the cumulative nine months of FY2026 (ending March 2026) steadily declined to 29.1% (improved from 32.2% in the same period of the previous year), confirming the emergence of scale benefits.
Last updated: July 17, 2026