MEDIKIT CO.,LTD.
7749・Standard Market・Precision Instruments
MEDIKIT CO., LTD. (Single Segment: Medical Device Manufacturing & Sales Business)
A single-segment company manufacturing and selling medical devices in the vascular and blood fields
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥23,781 million | ¥22,553 million | ↑ |
| Operating profit | ¥4,272 million | ¥4,487 million | ↓ |
| Ordinary profit | ¥4,484 million | ¥4,658 million | ↓ |
| Profit attributable to owners of parent | ¥3,006 million | ¥3,014 million | — |
| Operating margin | 18.0% | 19.9% | ↓ |
| Equity ratio | 87.8% | 86.1% | ↑ |
| Earnings per share | ¥206.37 | ¥204.55 | ↑ |
| Net assets per share | ¥3,231.16 | ¥3,089.58 | ↑ |
| Operating cash flow | ¥4,734 million | ¥3,562 million | ↑ |
| Cash and cash equivalents at end of period | ¥18,652 million | ¥17,059 million | ↑ |
| Annual dividend per share | ¥100.00 | ¥90.00 | ↑ |
| Overseas sales | ¥4,246 million | ¥3,522 million | ↑ |
Business Details
The Group develops, manufactures, and sells medical devices centered on three product categories: Dialysis Products, IV Catheters, and Intervention Products. Manufacturing is handled by consolidated subsidiaries Togo Medikit Co., Ltd. and Medikit Vietnam Co., Ltd., with the Company selling to domestic and overseas users. Net sales for FY2026 (ending March 2026) were ¥23,781 million (up 5.4% year on year), comprising domestic sales of ¥19,535 million and overseas sales of ¥4,246 million, with over 90% of net sales derived from a single product category. The equity ratio stood at a high 87.8%, indicating strong financial soundness.
Recent Overview
Net sales grew 5.4%, while operating profit fell 4.8% due to increased depreciation from capital expenditure
In FY2026 (ending March 2026), net sales reached ¥23,781 million (up 5.4% year on year). By product category, IV Catheters led growth at up 13.9%, while Intervention Products also grew 4.9%. On the other hand, due to factors such as increased depreciation expenses accompanying capital expenditure (from ¥1,472 million in the prior period to ¥1,822 million in the current period), operating profit was ¥4,272 million (down 4.8% year on year), and the operating margin declined to 18.0% (from 19.9% in the prior period). Following the March 2025 insurance listing of the Medilizer AGD System, the Company continues to promote its adoption in clinical settings. For FY2027 (ending March 2027), the Company plans net sales of ¥25,800 million (up 8.5%) and operating profit of ¥4,300 million (up 0.6%). The dividend was increased to ¥100 per share (from ¥90 in the prior period).
Key Products
Growth Drivers
- Domestic and overseas expansion of IV Catheters with safety mechanisms (Super Cath 5 and 7) (up 13.9% in FY2026 (ending March 2026); planned up 12.4% in FY2027 (ending March 2027))
- Expansion of overseas sales of IV Catheters, capturing rising overseas demand particularly in North America (overseas sales of ¥4,246 million, up 20.6% year on year)
- New sales contribution from the spread of the Medilizer AGD System in clinical settings following its March 2025 insurance listing
- Expanded sales of high-value-added Intervention Products (AbRoad STOUT, FLEX, etc.) (planned up 11.0% in FY2027 (ending March 2027))
- Spread and stable supply of Dialysis Products with needlestick prevention mechanisms (Happy Cath ProFlex)
- Execution of a Group-wide growth strategy through the promotion of the medium-term management plan "NEXT 300 Neo"
Risks
- Decline in operating margin due to increased depreciation expenses accompanying capital expenditure (operating margin of 18.0% in FY2026 (ending March 2026), down from 19.9% in the prior period)
- Decline in sales of Dialysis Products (down 2.1% in FY2026 (ending March 2026)) and uncertainty regarding recovery
- Impact on demand from changes in healthcare policy, including revisions to medical fee schedules
- Increased manufacturing costs due to soaring raw material and energy prices and rising logistics costs
- Geopolitical risk associated with escalating tensions in the Middle East and uncertainty over US trade policy
- Risk of deteriorating management environment and restrained capital expenditure at medical institutions due to chronic labor shortages among healthcare professionals
- Foreign exchange risk (overseas sales ratio: ¥4,246 million / ¥23,781 million, approximately 17.9%)
- Risk that adoption of the Medilizer AGD System in clinical settings does not proceed as planned
Last updated: June 24, 2026