Shin Nippon Biomedical Laboratories (2395) Q1 2026 earnings summary

Executive summary

• Q1 FY2026 revenue rose 16.7% YoY to a first-quarter record ¥6,477m; operating loss widened to ¥341m, while profit attributable to owners rose 113.1% to ¥260m.

• Higher Satsuma approval and commercialization costs and upfront investment to expand nonclinical capacity weighed on operating profit; earnings forecasts remain unchanged.

Financial highlights

• Revenue was ¥6,477m, up 16.7% YoY; operating loss was ¥341m versus ¥145m, ordinary profit was ¥516m versus ¥342m, and parent-attributable profit was ¥260m versus ¥122m.

• Gross profit was ¥3,069m versus ¥3,025m; foreign exchange gain of ¥121m compared with a ¥283m loss a year earlier supported ordinary profit.

• Comprehensive loss was ¥3,310m versus income of ¥444m, including a ¥3,661m negative foreign currency translation adjustment.

• Assets were ¥89,071m at June 30, down 3.6% from March 31; net assets fell 10.4% to ¥35,898m, while liabilities increased 1.6% to ¥53,173m.

Outlook and guidance

• FY2026 forecast: revenue ¥33,272m (+2.6% YoY), operating profit ¥3,550m (+18.9%), ordinary profit ¥5,927m (-8.1%), parent-attributable profit ¥3,550m (-27.9%), EPS ¥85.27; unchanged.

• H1 forecast: revenue ¥14,542m (+16.3%), operating loss ¥97m, ordinary profit ¥1,180m, parent-attributable loss ¥183m, EPS loss ¥4.39.

• Q1 revenue and profits exceeded initial forecasts; progress toward the annual outlook was described as smooth. Forecast assumption: ¥145 per US dollar.