CUC Inc.
9158・Growth Market・Services
Medical Institutions
Core business segment responsible for management support for domestic medical institutions and overseas clinic operations
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Revenue (Full Year) | ¥17,603 million | － | — |
| Segment Profit (Full Year) | ¥3,616 million | － | — |
| EBITDA (Full Year) | ¥4,570 million | － | — |
| Depreciation and Amortization (Full Year) | ¥987 million | － | — |
Business Details
In Japan, the company operates on two pillars: operational support, providing hospitals, home-visit medical clinics, dialysis clinics, outpatient clinics, etc. with an all-in-one monthly fee service covering management strategy formulation, marketing, IT/accounting, and HR recruitment; and revenue growth support, undertaking M&A, PMI, new clinic openings, etc. on a one-time fee basis. Overseas, the company expands podiatry and vein clinics mainly in the US Midwest through roll-up M&A, and also provides management support for medical institutions in Vietnam and Indonesia. The segment also includes food service and real estate leasing.
Recent Overview
The correction only revises the consolidated statement of comprehensive income and statement of financial position, with no impact on Medical Institutions segment performance figures
The correction to the financial results report dated June 4, 2026 primarily involves revisions to foreign currency translation adjustments in the consolidated statement of comprehensive income (pre-correction ¥913 million → post-correction ¥1,059 million), goodwill in the consolidated statement of financial position (pre-correction ¥14,832 million → post-correction ¥14,727 million), and other financial liabilities, non-current liabilities, etc. It is explicitly stated that there is no impact on the consolidated statement of income or statement of cash flows. Performance figures specific to the Medical Institutions segment, such as revenue and segment profit, are not subject to this correction, and there is no change to existing KPIs.
Key Products
Growth Drivers
- Accumulation of monthly fee revenue through continuous increase in the number of domestic supported major locations
- Expanding opportunities to secure project-based fees such as M&A and PMI support (amid an increasing number of medical institutions lacking successors)
- Expansion of overseas revenue through roll-up M&A in the US podiatry business
- Gradual normalization of monthly fees in line with performance improvement at supported medical institutions (from the second half onward)
- A virtuous cycle within the group, reinvesting cash flow generated by the Medical Institutions segment into Hospice, Home-Visit Nursing, and other businesses
Risks
- Risk of temporary reductions in monthly fees due to deteriorating profitability at some supported medical institutions
- Risk of revenue fluctuation due to concentration of M&A support fees in specific quarters and subsequent declines
- Overseas business risks in the US podiatry business, such as consolidation of unprofitable locations and one-time revenue declines
- Risk that increased SG&A expenses (personnel costs, etc.) due to revisions in cost allocation methods will pressure segment profit
- Difficulty in securing and developing personnel for medical institution management support (labor shortage in the medical and nursing care industry)
Last updated: June 25, 2026