Eucalia, Inc. · TSE:286A
Eucalia — FY2025 Earnings Presentation
41 slides from Eucalia's earnings presentation, February 2026
Slide 1: FY 2025 Financial Results FY 2026 Financial Forecast
FY 2025 Financial Results FY 2026 Financial Forecast EUCALIA Inc. 証券コード：286A
Slide 2: INDEX
INDEX 1 EUCALIA Group Overview 2 FY2025 Financial Results 3 FY2026 Financial Forecast 4 Appendix 2
Slide 3: EUCALIA Group Overview
1 EUCALIA Group Overview 1 EUCALIA Group Overview 2 FY2025 Financial Results 3 FY2026 Financial Forecast 4 Appendix 3
Slide 4: Vision/Mission
Vision/Mission VISION Industrialization of Healthcare. MISSION Realize Ideal State of Medical and Nursing Care through Transformation. 4
Slide 5: EUCALIA’s “Sanpo-Yoshi” Worldview
EUCALIA’s “Sanpo-Yoshi” Worldview EUCALIA Group aims to create a “good for all three sides (Sanpō Yoshi)” ecosystem in healthcare. By excelling in each of these areas, the Company seeks to benefit all parties – healthcare providers, healthcare professionals, and patients – thereby building a sustain
Slide 6: Addressing Root Causes ー Transforming Hospitals’ Culture
Addressing Root Causes ー Transforming Hospitals’ Culture Transforming the fundamental challenge of the hospital and healthcare industry—the "physician-centered culture"—by introducing a "flat structure" to drive innovation in the healthcare sector. Hierarchy in Japanese Hospitals1 The World EUCALIA
Slide 7: Five Key Issues in Japan’s Healthcare Industry
Five Key Issues in Japan’s Healthcare Industry The starting point is that hospitals are not managed properly, which undermines their function as a social infrastructure for patients, the medical professionals who work there, and ultimately, society. Over 70% of 4 Delay in developing a 2 FIVE Ineffic
Slide 8: Five Key Themes for Change
Five Key Themes for Change To realize innovation, we have established five themes of transformation. We are developing our business in each area in accordance with the transformation themes. 2 FIVE THEMES Optimization of hospital operations 1 FIVE THEMES Separation of medical care and 4 FIVE THEMES
Slide 9: Market Opportunities｜Macro Trend
Market Opportunities｜Macro Trend Increasing number of hospitals in serious cash-flow difficulties due to repayment of the emergency loan from Welfare And Medical Service Agency (WAM) and renovation of aging buildings Great majority of hospitals run at a loss Environment surrounding hospital manageme
Slide 10: Business Model｜Support System
Business Model｜Support System Unique business model supports restructuring and sustainable growth of hospitals with cash-flow difficulties Services Recurring revenue Operations Business guidance fee improvement support Outsourcing fee Sale and leaseback Real estate rent Business of real estate model
Slide 11: Business Model｜Wide-Range of Management Support Lineup
Business Model｜Wide-Range of Management Support Lineup Strong cash-flow generation capacity through i) flexibility to provide solutions to various management issues faced by hospitals, and ii) continuing commitment to improving client performance over the ultra-long term (10 years or more) Consultin
Slide 12: EUCALIA's Business Domains
EUCALIA's Business Domains Developing businesses broadly and deeply along the healthcare value chain,with hospital management support as the core business 12
Slide 13: Unique Growth Strategy Based on “Medical and Nursing Front Lines”
Unique Growth Strategy Based on “Medical and Nursing Front Lines” Leverage the medical and nursing care assets of our Total Medical Management Support business and Senior- related business to drive expansion into new business domains and achieve sustainable growth through M&A. Senior related: Steady
Slide 14: FY2025 Financial Results
2 FY2025 Financial Results 1 EUCALIA Group Overview 2 FY2025 Financial Results 3 FY2026 Financial Forecast 4 Appendix 14
Slide 15: Executive Summary
Executive Summary Consolidated Results (FY2025, KPI) Net Sales Vs. Forecast Profit attributable to Vs. Forecast ROE Vs. Forecast owners of parent 24,734 (¥Mn) Achieved 2,776 (¥Mn) Achieved 14.4 % Achieved Net Sales: Increased in all segments Profit attributable to owners of parent: Increased, driven
Slide 16: FY2025 Consolidated Results
FY2025 Consolidated Results FY 2025 FY2024 (¥Mn) Forecasts Results YoY Change Vs Forecasts Net Sales 19,833 23,721 24,734 +4,901 +25% +1,013 +4% Gross Profit 8,691 10,571 10,537 +1,840 +21% ▲34 +0% Margin 43.8% 44.6% 42.6% - - - - Operating Profit 2,292 2,925 2,365 +73 +3% ▲560 ▲19% Margin 11.6% 12.
Slide 17: FY2025 Consolidated Results (QonQ)
FY2025 Consolidated Results (QonQ) FY2025 FY2024 Full Year YoY Change (¥Mn) 1Q 2Q 3Q 4Q Net Sales 19,833 24,734 4,677 5,843 6,237 7,977 +4,901 +25% Gross Profit 8,691 10,537 2,061 2,689 2,531 3,256 +1,840 +21% Margin 43.8% 43.4% 44.1% 46.0% 40.6% 43.3% - - Operating Profit 2,292 2,365 356 778 205 1,
Slide 18: FY2025 Consolidated Results - Segment Breakdown
FY2025 Consolidated Results - Segment Breakdown FY2025 FY2024 Macro Trend and Key Assumptions Forecasts Results YoY Change Vs Forecasts （¥Mn） ■Total medical Factored into the Forecast at the management 6,364 8,479 7,728 +1,364 +21% ▲751 ▲9% Beginning of FY2025 Expiration of repayment grace Segment
Slide 19: FY2025 Consolidated Results (QonQ) - Segment Breakdown
FY2025 Consolidated Results(QonQ) - Segment Breakdown FY2025 FY2024 Full Year YoY Change （¥Mn） 1Q 2Q 3Q 4Q ■Total medical management 6,364 7,728 1,284 1,775 1,867 2,802 +1,364 +21% Segment Net Sales support ■Senior related 6,867 8,894 1,734 1,956 2,362 2,842 +2,027 +30% ■Advanced medical 6,539 7,456
Slide 20: Key Segment Highlights
Key Segment Highlights Steady growth of Each KPI KPI｜Number of KPI｜Occupancy Rate KPI｜Number of Referrals Affiliated Hospitals Number of ： Nursing Homes ：Existing homes1 ：Newly added homes 2 （Number） 31 （Number） （％） 92.8% 93.9% ＋5 91.1% 91.6% 4,210 4,365 26 23 23 13 3,606 12 ＋1 3,132 11 11 70.3% 39.
Slide 21: FY2025 Net Sales Analysis by Segment
FY2025 Net Sales Analysis by Segment Increased in all segments （¥Mn） 2,027 917 593 24,734 19,833 1,364 Advanced medical Others Senior related equipment Total medical management support FY2024 FY2025 ■Total medical Increased: driven by the growth in the number of Affiliated Hospitals and the positive
Slide 22: FY2025 Profit attributable to owners of parent by Segment
FY2025 Profit attributable to owners of parent by Segment While revenue increased, the absence of last year’s one-time revenue and the impact of strategic investments weighed on earnings; however, profit ultimately increased due to the tax-loss carryforward benefits arising from the consolidation of
Slide 23: FY2025 Profit attributable to owners of parent by Factor
FY2025 Profit attributable to owners of parent by Factor On a profit attributable to owners of parent basis, the reversal of last year’s one-time revenue was offset by this year’s tax effects arising from the consolidation of Smart Scan Inc. In addition, group-wide revenue growth absorbed the impact
Slide 24: Balance Sheet Highlights
Balance Sheet Highlights Maintaining a healthy balance sheet with continuing to invest for business growth As of FY2024/12 year-end As of FY2025/12 year-end （¥Mn） （¥Mn） Current assets Liabilities Current assets Liabilities Cash and Deposits Cash and Deposits Interest-bearing 9,085 Interest-bearing 1
Slide 25: Direction of M&A/Alliances in Growth Strategy
Direction of M&A/Alliances in Growth Strategy Our M&A and partnership strategy is guided by the goal of enhancing our service lineup around our core business with affiliated hospitals, thereby pursuing added value that is unique to only EUCALIA can provide. Human Capital Community-based Integrated
Slide 26: M&A and Capital/Business Alliance Activities
M&A and Capital/Business Alliance Activities Announced1 Capital/Business Alliances with 13 Companies since January 2025 Before IPO After IPO 2005-2024 2025- 1 2 3 8 9 10 11 12 Capital and business Business acquisition Stock acquisition Stock acquisition Capital and business Capital and business Capi
Slide 27: Strategic Partnership
Strategic Partnership Collaborating with diverse co-creation partners to generate new value （FY2025 Results） Operating Company Public（Hospitals and Local Governments） Academia 9 Fujitsu Ltd., JAL/JALUX, OPEN, Inc. etc 4 Musashino-city, Taka Red Cross Hosp, Saiseikai Hiroshima Hosp, 4 Tokyo Univ, Kum
Slide 28: Topic: External Consulting
Topic: External Consulting1 Expanded target coverage led to multiple large-scale project wins Expansion and Shift of Client Coverage Samples of FY2025 Results Target Before FY2025 Target in FY2025 Increase in Support for Large and Public Hospitals Large Large Hospitals Hospitals TORANOMON Matsudo Ci
Slide 29: FY2026 Financial Forecast
3 FY2026 Financial Forecast 1 EUCALIA Group Overview 2 FY2025 Financial Results 3 FY2026 Financial Forecast 4 Appendix 29
Slide 30: Positioning of FY2026
Positioning of FY2026 Now developing the foundation for achieving our vision. FY2026 positioned to further accelerate talent acquisition and alliances. Integrated Hospital Management Support business into home healthcare for the new healthcare delivery model. Macro Trends and Outlook Key Focus Busin
Slide 31: FY2026 Financial Forecast
FY2026 Financial Forecast FY2026 FY2025 Macro Trend and Key Assumptions Forecast YoY Change （¥Mn） Factored into the Forecast Net Sales 24,734 33,035 +8,301 +34% Price levels comparable to Gross Profit 10,739 13,509 +2,770 +26% FY2025 (procurement of materials, rent, Margin 43.4% 40.9% - - personne
Slide 32: List of Group Companies as of December 31, 2025
List of Group Companies1 as of December 31, 2025 ：Total medical management support ：Senior Related ：Advanced Medical Equipment Business succession and M&A Consolidated Medical Advisors Co.,Ltd 100% support Hospital management support Consolidated STRUKT Co.,Ltd. Architectural and structural design 1
Slide 33: MediStep Inc’s impact of Segment change in FY2025
MediStep Inc’s impact of Segment change in Fy2025 FY2025 （¥Mn） Segment in FY2025 Segment in FY2026 Impact Amount ■Total medical management support 7,728 8,550 +822 ■Senior related 8,894 8,072 ▲822 Net Sales Medistep Inc. Included in Consolidated Results from ■Advanced medical 3Q, FY2025 equipment 7,
Slide 34: FY2026 Forecast – Segment Breakdown
FY2026 Forecast – Segment Breakdown 2026/12期 FY20251 （¥Mn） 業績予想 前期比 ■Total medical management support1 8,550 14,740 +6,190 +72% Net Sales ■Senior related1 8,072 10,002 +1,930 +24% ■Advanced medical equipment 7,456 7,657 +201 +3% ■Others 656 883 +227 +35% ■Total medical management support1 2,448 3,3
Slide 35: FY26 Net Sales Analysis by Segment
FY26 Net Sales Analysis by Segment Increase in all segments （¥Mn） 1,930 201 227 33,035 6,190 Advanced Others ▲ 248 24,734 Senior related Medical Adjustments equipment Total medical management support FY2025 FY2026 ■Total medical Increase, driven by higher sales from Medistep, which was consolidated
Slide 36: FY2026 Profit attributable to owners of parent by Segment
FY2026 Profit attributable to owners of parent by Segment Decrease the absence of one-time revenue recorded in FY2025 （¥Mn） 867 252 2,776 Senior related ▲ 136 ▲ 188 Tax Advanced Others ▲ 296 Effects Total medical Corporate / management Medical equipment Adjustments ▲ 988 1,658 support Non- ▲ 629 ope
Slide 37: FY2026 Profit attributable to owners of parent by Factor
FY2026 Profit attributable to owners of parent by Factor Decrease due to the absence of tax effects. we aim to maintain Profit Before Tax at the same level as FY2025. （¥Mn） 1,700 Impact from the absence of FY25 one-time revenue ▲ 800 2,776 Strategic Investment ▲ 401 One-time (Recruitment + Tax Effec
Slide 38: Shareholder Returns
Shareholder Returns Now in investments phase to build our growth foundation, we have set the following three priorities; ① Focused on EPS, setting Profit attributable to owners of parent as the KPI ② Operating a shareholder benefit program to enhance recognition and expand services ③ Dividend policy
Slide 39: Shareholder Benefits Program
Shareholder Benefits Program To deepen understanding of our Group’s businesses, enhance the appeal of investing in our shares, and encourage more shareholders to hold our stock over the medium term, we will introduce a shareholder benefits program. 1 What is Smart Brain Dock? 10 share units (1,000 s
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Slide 41: Disclaimer
Disclaimer This presentation material has been prepared by EUCALIA Inc. (the “Company”) solely for informational purposes regarding the Company and does not constitute an offer or solicitation to buy or sell any securities in Japan, the United States, or any other jurisdiction. Securities of the Com