Recovery International Co., Ltd
9214・Growth Market・Services
Home-Visit Nursing Care Service Business
Core business accounting for 96% of group sales. Expanding under a dominant strategy in the Greater Tokyo area.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment Sales (Cumulative Q1) | ¥711 million | ¥2,597 million (full year FY2025, ending December 2025) | ↑ |
| Segment Profit (Cumulative Q1) | ¥203 million | ¥775 million (full year FY2025, ending December 2025) | ↑ |
| Segment Profit Margin (Cumulative Q1) | 28.5% | 29.8% (full year FY2025, ending December 2025) | ↓ |
| Total Number of Visits | Not disclosed (Q1) | 330,790 visits (full year FY2025, ending December 2025) | — |
| Total Number of Users Receiving Intervention | Not disclosed (Q1) | 38,067 users (full year FY2025, ending December 2025) | — |
| Number of Home-Visit Nursing Staff (Period End) | Not disclosed (Q1) | 314 (end of FY2025, ending December 2025) | — |
Business Details
Home-visit nursing care service in which nurses and other staff visit users' homes to provide medical treatment and health management based on physicians' instructions. Compensation is received from health insurance societies, national health insurance federations, and other bodies under the medical insurance and long-term care insurance systems. The company is pursuing a dominant strategy centered on Tokyo within the Greater Tokyo area, and also has locations in Hyogo, Kochi, and Okinawa. In the first quarter of FY2026 (ending December 2026), the segment recorded sales of ¥711 million and segment profit of ¥203 million, functioning as the group's core revenue base.
Recent Overview
Increase in new offices contributed to sales, with focus on improving utilization at existing offices and hiring specialized personnel.
In the first quarter of FY2026 (ending December 2026) (January to March 2026), the Home-Visit Nursing Care Service Business recorded sales of ¥711 million and segment profit of ¥203 million. The increase in the number of offices resulting from new office openings pursued since the prior period contributed to sales, and business operations expanded steadily. The company focused on improving utilization rates at existing offices and on hiring and developing highly specialized nurses to meet regional medical care needs. There has been no change to the full-year earnings forecast (sales of ¥3,430 million, operating profit of ¥215 million), and progress is expected to proceed as planned.
Key Products
Growth Drivers
- Continued expansion of the home-visit nursing care market against the backdrop of the 2040 problem (peak of the elderly population); combined home-visit nursing care expenditure under medical and long-term care insurance has grown to approximately ¥993.3 billion, 3.4 times the 2013 level
- Planned rollout of new offices in the Greater Tokyo area based on a dominant strategy (targeting a nationwide network of 44 offices in FY2026, ending December 2026)
- Expansion of staff numbers (from 263 to 314) through active hiring of individuals with no prior home-visit nursing experience and a program to develop them into productive staff within approximately three months
- Maximization of visit efficiency per office through IT-based visit area optimization, cloud-based management, and KPI sharing
- Reduced hiring costs and strengthened recruitment capability through collaboration with subsidiary RePath Co., Ltd.'s Comedical Staffing Placement Business
Risks
- Shortage of home-visit nurses and other staff (approximately 130,000 against an industry-wide requirement of 150,000) and intensifying competition for hiring
- Risk of unit price fluctuations due to revisions to medical and long-term care insurance treatment/care fee schedules
- Customer concentration risk due to concentration of sales with the Tokyo National Health Insurance Federation (62.8% of company-wide sales)
- Rising labor costs in a labor-intensive business model (a major component of cost of sales: personnel expenses of ¥1,478 million)
- Risk of upfront investment costs associated with opening new offices and reduced profitability during the ramp-up period
Last updated: March 30, 2026