ReproCELL Incorporated (4978) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, were ¥1,609 million, down 22.2% year-over-year, with an operating loss of ¥676 million and a net loss attributable to owners of parent of ¥459 million, both significantly worse than the prior year.

• The business is structured into Research Support and Medical segments, with the former as a short- to medium-term revenue base and the latter as a long-term growth driver.

• The company continues to invest in R&D for regenerative medicine, including iPS cell technology, despite ongoing operating losses.

Financial highlights

• Net sales decreased 22.2% year-over-year to ¥1,609 million for the nine-month period.

• Operating loss widened to ¥676 million from ¥180 million year-over-year; ordinary loss was ¥455 million versus ¥33 million prior year.

• Net loss attributable to owners of parent was ¥459 million, compared to ¥31 million loss in the prior year.

• Basic earnings per share was negative ¥4.85, compared to negative ¥0.34 year-over-year.

• Comprehensive income was negative ¥196 million, compared to negative ¥99 million in the prior year.

Outlook and guidance

• Full-year net sales forecast for FY ending March 31, 2026, is ¥2,276 million, down 23.4% year-over-year, with an expected operating loss of ¥844 million and net loss of ¥575 million.

• Forecasts were revised downward due to stagnation in orders, especially from U.S. research institutions, and changes in product mix.

• No dividends are planned for the fiscal year.