CYBERDYNE,INC.
7779・Growth Market・Precision Instruments
CYBERDYNE, Inc. (Robotics-related Business, Single Segment)
A single-segment company developing medical, care, and work-support applications centered on cybernics technology
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (full year) | ¥3,846 million | ¥4,384 million | ↓ |
| Gross profit (full year) | ¥2,265 million | ¥2,373 million | ↓ |
| Operating loss (full year) | △¥601 million | △¥926 million | ↑ |
| Profit before tax (full year) | ¥589 million | △¥879 million | ↑ |
| Profit for the year attributable to owners of the parent (full year) | ¥153 million | △¥577 million | ↑ |
| Research and development expenses (full year) | ¥1,000 million | ¥1,065 million | ↓ |
| Total assets (period-end) | ¥49,081 million | ¥48,547 million | ↑ |
| Equity attributable to owners of the parent ratio (period-end) | 80.7% | 81.5% | ↓ |
| Cash and cash equivalents (period-end) | ¥8,991 million | ¥6,824 million | ↑ |
| Basic earnings per share | ¥0.73 | △¥2.73 | ↑ |
| Number of HAL® Medical Use Lower Limb Type units in operation (period-end) | 558 units | － | ↑ |
| Number of HAL® Single Joint Type units in operation (period-end) | 710 units | － | ↑ |
| Number of HAL® Lumbar Type for Care/Self-Support units in operation (period-end) | 1,063 units | － | — |
| Number of HAL® Lumbar Type for Work Support units in operation (period-end) | 411 units | － | — |
| Number of cleaning/transport robot units in operation (period-end) | 180 units | － | — |
Business Details
With the wearable cyborg HAL® as its core product, the company provides services across the medical (cybernics treatment), care, self-support, work-support, and preventive early-detection domains. Its primary revenue source is rental and maintenance contracts for HAL® and other products, with a global presence across four regions: Japan, the Americas, EMEA, and APAC. Revenue for FY2026 (ending March 2026) was ¥3,846 million (down 12.3% year on year). Major customers include PERKESO of Malaysia (¥457 million) and Cooperativa Sociale Coopselios SC (¥153 million). Total assets stood at ¥49,081 million, with an equity attributable to owners of the parent ratio of 80.7%.
Recent Overview
Revenue declined 12.3% year on year, but operating loss narrowed 35.1%, and valuation gains on investment securities drove a return to net profit
Revenue for FY2026 (ending March 2026) was ¥3,846 million (down 12.3% year on year), primarily reflecting the impact of the sale of the German subsidiary LeyLine in the prior period. Meanwhile, a reduction in selling, general and administrative expenses (down 15.6% to ¥2,367 million) narrowed the operating loss to ¥601 million (a 35.1% reduction year on year). Financial income of ¥1,189 million (including a valuation gain of ¥1,286 million on investment securities) contributed to profit before tax of ¥589 million and profit attributable to owners of the parent of ¥153 million, marking a return to profitability. Other business developments during the period included the completion of installation of 65 units (HAL 50 sets) at PERKESO in Malaysia, the conclusion of a strategic MOU with Carnegie Mellon University, and the launch of sales of the new HAL Lumbar Type model, LB06.
Key Products
Growth Drivers
- Expansion of HAL medical-use rental contracts in the APAC region (including PERKESO in Malaysia) (installation of 65 units (HAL 50 sets) completed in August 2025; PERKESO announced construction of a new center, with discussions on the next phase of deployment ongoing)
- Expansion of the eligible patient population through medical device approval of the compact HAL model in Japan (January 2025), compatible with heights of 100–150 cm
- Decision by Germany's G-BA to conduct clinical trials premised on public health insurance coverage for spinal cord injury (selection of trial sites completed, with preparations for trial commencement underway)
- Conclusion of a strategic MOU with Carnegie Mellon University (December 2025), accelerating social implementation across the U.S. and collaboration with the Pittsburgh medical and healthcare ecosystem
- Acquisition of new demand through Ukraine reconstruction support projects (selected under a public call for proposals by the Ministry of Economy, Trade and Industry and UNIDO)
- Expansion of the work-support market through the launch of sales of the new HAL Lumbar Type model (LB06) in February 2026
- Business expansion into the preventive and early-detection domain, starting with the medical device certification of the Cyvis M100 compact Holter ECG device (November 2024)
- Agreement with Thailand's Ministry of Public Health-affiliated Institute of Geriatric Medicine to jointly promote cybernics-based medical and health innovation in ASEAN (January 2026)
- Promotion of R&D and social implementation through selection under Phase 3 of the Cabinet Office's SIP program (other revenue of ¥546 million recorded, including contracted research revenue)
Risks
- Financial constraints stemming from continued operating losses (operating loss of ¥601 million in FY2026 (ending March 2026)) and accumulated losses (retained earnings of △¥648 million)
- Non-disclosure of earnings forecasts: numerous uncertain factors continue to make it difficult to publish numerical forecasts
- Risk from fair value fluctuations in investment securities (a structure in which valuation gains/losses on unlisted startup shares materially affect profit and loss: a valuation gain of ¥1,286 million in the current period was the main driver of the return to net profit)
- Structural impact on revenue from the sale of the German subsidiary LeyLine in the prior period (EMEA revenue declined 44.4% from ¥939 million in the prior period to ¥522 million in the current period)
- Risk of delays in approvals and expanded indications from medical device regulators in various countries (discussions ongoing regarding an application to expand indications for spinal cord injury in Japan; preparations underway for a stroke-related clinical trial)
- Risk of revenue concentration among major customers (PERKESO: ¥457 million; Cooperativa Sociale Coopselios SC: ¥153 million)
- Regulatory and healthcare reimbursement revision risks in the super-aging society and medical/care fields
- Geopolitical risks (the operating environment for Ukraine reconstruction support projects, changes to national health insurance systems, etc.)
Last updated: June 23, 2026