H.u.group Holdings, Inc. · TSE:4544
H.u.group — FY2025 Earnings Presentation
49 slides from H.u.group's earnings presentation, May 14, 2026
Slide 1: FY2025 Financial Results and Mid-Term Management Plan H.U.2030 2.0
FY2025 FINANCIAL RESULTS AND MID-TERM MANAGEMENT PLAN “H.U.2030” 2.0 May 14 th, 2026 H.U. Group Holdings, Inc. (TSE: 4544)
Slide 2: Notes on financial information, abbreviations and exchange rates
※ The financial information in this document follows Japanese GAAP, with the exception for EBITDA (Operating Profit + Depreciation + Goodwill Impairment), which is a non-GAAP measure. ※ In some cases, “Net profit/loss attributable to shareholders of the parent company” may be abbreviated as “Net pro
Slide 3: Today's Topics
Today’s Topics 1. FY2025 (Ended March 31, 2026) FINANCIAL RESULTS 2. MID-TERM MANAGEMENT PLAN “H.U.2030” 2.0 – TOWARDS A GLOBAL H.U. GROUP – 3. FY2026 (Ending March 31, 2027) OUTLOOK 2
Slide 4: 1. FY2025 Financial Results
1. FY2025 (Ended March 31, 2026) FINANCIAL RESULTS 3
Slide 5: Executive Summary (Consolidated)
Consolidated EXECUTIVE SUMMARY (CONSOLIDATED) (100 Million JPY) NET SALES EBITDA OPERATING PROFIT NET PROFIT 2,474 265 48 68 EBITDA margin: 10.7% OP margin: 1.9% YoY ＋43 / +1.8% ＋32 / +13.5% ＋21 / +81.0% ＋41 / +147% • LTS : Sales and OP grew driven by growth in genetic testing and price optimization
Slide 6: Executive Summary (by Segment)
Consolidated EXECUTIVE SUMMARY (BY SEGMENT) (100 Million JPY) NET SALES EBITDA OPERATING PROFIT KEY FACTORS Genetic /Esoteric testing steadily 0 • LTS 1,573 137 grew resulting in revenue growth • Increase in marginal profit, due to pricing optimization and fixed costs YoY ＋43 / +2.8% ＋60 / +79% ＋47
Slide 7: Consolidated Results for FY2025
Consolidated CONSOLIDATED RESULTS FOR FY2025 (100 Million JPY) 6
Slide 8: Net Sales / OP Changes (YoY)
Consolidated NET SALES / OP CHANGES (YoY) (100 Million JPY) NET SALES OPERATING PROFIT (-) Unfavorable CDMO product mix (-) COVID-19-related sales decrease 2,500 80 2,474 (-) M&A-related costs: 4.7 +2 -2 2,430 +43 60 -23 2,400 48 +47 -0 -2 40 26 2,300 (+) Profit increase driven by sales growth 20 (+
Slide 9: Quarterly Performance
Consolidated QUARTERLY PERFORMANCE (100 Million JPY) 800 Net Sales Net Sales COVID-19 688 669 653 630 599 599 610 605 621 610 614 623 606 594 595 600 150 114 566 19 15 7 8 11 4 123 40 32 25 15 21 64 29 601 607 622 612 602 578 580 584 595 555 560 570 530 538 535 537 NET 400 SALES 200 0 200 EBITDA Ope
Slide 10: Ordinary Profit & Net Profit (YoY)
Consolidated ORDINARY PROFIT & NET PROFIT (YoY) (100 Million JPY) ORDINARY PROFIT NET PROFIT 68 47 28 28 FY24 FY25 FY24 FY25 Major Non-Operating Factors Major Extraordinary Factors • Equity in losses of affiliates 9.0 • Gain on sale of shares of subsidiaries 39.3 (FY24: 7.3) (Sale of shares in Care’
Slide 11: LTS Business
By Segment LTS BUSINESS (100 Million JPY) QUARTERLY PERFORMANCE YoY Genetic tests Hospitals＊ GP/Checkup FMS/Branch Others FY24 FY25 YoY 500 Net sales 1,530 1,573 +43 +2.8% +0.9% Off-site 1,245 1,297 +53 +4.2% 383 Hospitals＊ 937 978 +41 +4.3% 400 380 9 10 11 7 7 10 10 11 Genetic tests 296 315 +19 +6.
Slide 12: IVD Business
By Segment IVD BUSINESS (100 Million JPY) QUARTERLY PERFORMANCE YoY CDMO LP JPN NEURO LP JPN (COVID) Others * FY24 FY25 YoY 200 Net sales 605 607 +2 +0.4% +4.9% Lumipulse 260 278 ＋18 +7.0% 162 154 Japan (base) 154 154 +0 +0.1% 150 18 27 Japan (COVID) 43 29 -14 -32.2% 25 20 21 4 26 24 19 8 20 Oversea
Slide 13: IVD Business: Progress in CDMO and NEURO
By Segment IVD BUSINESS: PROGRESS IN CDMO AND NEURO (100 Million JPY) CDMO NEURO Raw Material (Existing) Raw Material (New) US EU Japan 100 Raw Material (PSG) Finished Kits 30 Contract Development +11% 25 80 FDA 7 +38% Clearance 4 5 20 4 8 ↓ 60 4 5 4 35 16 10 29 15 10 28 29 34 31 29 23 8 40 10 4 1 3
Slide 14: HS Business
By Segment HS BUSINESS (100 Million JPY) QUARTERLY PERFORMANCE YoY In-hospital Outsourced Others Home-visiting Welfare FY24 FY25 YoY 100 Net sales 295 293 -2 -0.6% -17% Sterilization/ 229 236 +7 +3.0% operation-related 80 76 In-hospital 177 183 +6 +3.3% 13 14 9 15 14 63 Outsourced 16 16 -0 -0.1% 16
Slide 15: Cash Flow (YoY)
Consolidated CASH FLOW (YoY) (100 Million JPY) OPERATING CASH FLOW FREE CASH FLOW +329 +32 -21 220 216 113 -15 220 216 +60 -160 * FY24 EBITDA NWC Others FY25 FY24 FY25 Operating CF Investment CF FCF * Net Working Capital (Including changes in 'other current assets' and 'other current liabilities,' a
Slide 16: Cash and Deposits / Interest Bearing Debts
Consolidated CASH AND DEPOITS / INTEREST BEARING DEBTS (100 Million JPY) FY2024 FY2025 Cash and deposits 478 481 Short-term debts Cash and 409 0 396 0 361 Bonds due within 0 deposits one year Interest- bearing Long-term debts debts Interest-bearing 0 200 200 200 200 200 200 200 200 200 200 0 5 Lease
Slide 17: 2. Mid-Term Management Plan H.U.2030 2.0
2. MID-TERM MANAGEMENT PLAN “H.U.2030” 2.0 16
Slide 18: Goal: Towards a Global H.U. Group
Summary GOAL: TOWARDS A GLOBAL H.U.GROUP GLOBAL HEALTHCARE MARKET H.U. GROUP “Strength” Pharmaceutical Unique Global Trends Bring innovation Technology & to global market Product • Collaboration b/w therapeutics Diagnostics Development and diagnostics • Close relationship ＋ b/w research and clinical
Slide 19: Our Mission
Summary OUR MISSION CREATE NEW VALUE IN HEALTHCARE AND THEREBY CONTRIBUTE TO HUMAN HEALTH AND THE FUTURE OF MEDICAL CARE Support Testing (IVD / LTS) Role as Healthcare Infrastructure Provider Support Surgeries (HS) • Stable Supply / Quality First / Customer Trust Based on Science & Technology (incl.
Slide 20: Business Environment
Summary BUSINESS ENVIRONMENT (100 Million JPY) FINANCIAL PERFORMANCE KEY ISSUES 3,000 Net Sales OP ROE 30% • Can each business improve profitability to achieve growth in Mid-term Plan? 2,500 25% • LTS： How to improve profitability through leveraging major investments (New lab & IT system) 2,000 20%
Slide 21: Mid-Term Management Plan H.U.2030 2.0: Outline
Summary MID-TERM MANAGEMENT PLAN “H.U.2030” 2.0: OUTLINE "H.U.2030" (May 2025) "H.U.2030" 2.0 (Today) 1. Further acceleration of integrated management 1. Group Strategy focusing on Disease Area • Priority on Business Collaboration over Functional Integration 2. Transformation into a highly profitabl
Slide 22: Mid-Term Management Plan H.U.2030: Financial Targets
Summary MID-TERM MANAGEMENT PLAN “H.U.2030”: FINANCIAL TARGETS (100 Million JPY) FY2025 FY2029 Target EBITDA/ Margin 265 16% or more Net Debt / EBITDA 1.3x or LTS 137 13% or more Ratio (Excluding Lease Liabilities) Lower IVD 147 30% or more HS 31 10% or more Operating Profit/ Margin 48 11% or more 4
Slide 23: Overview of Disease-Specific Strategies
1. Group Strategy OVERVIEW OF DISEASE-SPECIFIC STRATEGIES BREAKDOWN BY DISEASE NUMBER OF PATIENT BY COUNTRY (JPY in 100 millions) (million people) 40 ■1990 ■2020 ■2030 GROWTH 30 ONOCOLOGY 20 Cancer 840 （34%） 10 H.U. Group Sales 0 FOCUS 2,474 Japan US EU China India (FY25) OTHERS (million people) Rap
Slide 24: Example 1: Oncology
1. Group Strategy EXAMPLE 1: ONCOLOGY (TUMORS IN JAPAN AND GLOBAL MARKETS) PATIENT JOURNEY Screening Diagnosis Treatment Decisions Treatment Monitoring Tumor Marker Pathology Testing Genetic Testing / CDx Sterilization / Tumor Marker (CA Series, etc.) （General / Esoteric） • Cancer genomics/ Surgical
Slide 25: Example 2: NEURO
1. Group Strategy EXAMPLE 2: NEURO (AD IN JAPAN AND GLOBAL MARKETS) PATIENT JOURNEY Early Diagnosis Diagnosis Treatment Monitoring Prognosis Lumipulse Reagents Home-visiting Nursing • Plasma / CSF • 27 sites in Greater Tokyo • RUO / IVD for 2,500 users Japan • About 40% of users with mental disorder
Slide 26: Group-Wide Focus on Unmet Needs in Patient Journey
1. Group Strategy GROUP-WIDE FOCUS ON UNMET NEEDS IN PATIENT JOURNEY PATIENT JOURNEY Prevention Diagnosis Treatment / Prognosis Pre-disease and Home-visiting care/ IVD LTS HS non-clinical In-home testing Other Business Oncology Group NEURO Strategy by Disease Area Infectious Others WE AIM TO CREATE
Slide 27: LTS Overview: Growth Strategy and Focus Area
2. Business Strategy LTS OVERVIEW: GROWTH STRATEGY AND FOCUS AREA GROWTH STRATEGY FOCUS AREA Expand testing volume in Japan hospital segment 1. Strategically utilize Akiruno Cube to improve through differentiation in esoteric / advanced testing marginal profitability and accelerate differentiation •
Slide 28: Focus Area (1): Strategic Utilization of Akiruno Cube
2. Business Strategy LTS FOCUS AREA (1): STRATEGIC UTILIZATION OF AKIRUNO CUBE AKIRUNO CUBE STRUCTURE OUR STRENGTHS STRATEGIC DIRECTION 3F Esoteric and advanced testing samples from hospitals across Japan • Introduce new tests from GENOMICS / PATHOLOGY Japan and global • 80%+ coverage in • Gene / Ge
Slide 29: Focus Area (2): Productivity Improvements Through AI
2. Business Strategy LTS FOCUS AREA (2): PRODUCTIVITY IMPROVEMENTS THROUGH AI CHROMOSOME TESTING T-SPOT (TUBERCULOSIS TESTING) Introduce in-house AI to process of isolating chromosomes Developed in-house AI and analysis software for spot from samples and arrange in numerical order counting on testin
Slide 30: Focus Area (3): Introduction of In-House Reagents
2. Business Strategy LTS FOCUS AREA (3): INTRODUCTION OF IN-HOUSE REAGENTS Oncology Infectious Inter Group Collaboration from Reagent Development to Commercialization Pre-processing (Nucleic Acid Extraction) Testing Process (Detection and Analysis) Sample DNA / RNA PCR / Sequencing, etc. ® • Ensurin
Slide 31: IVD Overview: Growth Strategy and Focus Area
2. Business Strategy IVD OVERVIEW: GROWTH STRATEGY AND FOCUS AREA GROWTH STRATEGY FOCUS AREA Create New Markets with Technically Differentiated Items 1. Execution of Global Manufacturing Strategy by Supplying to Global Markets through Partnerships (Cost reduction / BCP) • Implement cost benchmarking
Slide 32: Focus Area (1): Global Manufacturing Strategy
2. Business Strategy IVD FOCUS AREA (1): GLOBAL MANUFACTURING STRATEGY • Raw Materials (Tumor marker, etc.) • Raw Materials（NEURO） • CDMO Manufacturing • Lumipulse reagent (finished kits；NEURO) • CDMO Manufacturing • Raw Materials Toward Next （Tumor marker, etc.） Growth Market Optimize manufacturing
Slide 33: Focus Area (2): NEURO Market Expansion and Creation
2. Business Strategy IVD FOCUS AREA (2): NEURO MARKET EXPANSIN AND CREATION NEURO NEURO MARKET ENTRY (RUO/IVD) as of the end of April 2026 Region Country Region Country Region Country Americas • US EU • Austria EU • Portugal 4 (+1) • Canada 21 • Belgium • Serbia • Chile • Bulgaria • Slovakia • Brazi
Slide 34: Focus Area (3): Development and Launch of New Contents
2. Business Strategy IVD FOCUS AREA (3): DEVELOPMENT AND LAUNCH OF NEW CONTENTS NEURO Infectious NEURO Lineup Expansion: AD ＆ Beyond AD Ultra Sensitivity Reagent for Infectious Disease To accelerate expansion of NEURO assay lineup, Clostridioides difficile ADx was integrated into Fujirebio Europe in
Slide 35: Focus Area (3): Development and Launch of New Contents (Cont.)
2. Business Strategy IVD FOCUS AREA (3): DEVELOPMENT AND LAUNCH OF NEW CONTENTS (CONT.) Oncology Oncology Others GLYPICAN-3 PGE-MUM TYPE IV COLLAGEN 7S (GPC-3；Liver Cancer) (Ulcerative Colitis) (Liver Fibrosis / Metabolism) • High specificity for hepatocellular carcinoma • An intractable disease in
Slide 36: HS Overview: Growth Strategy and Focus Areas
2. Business Strategy HS OVERVIEW: GROWTH STRATEGY AND FOCUS AREAS GROWTH STRATEGY FOCUS AREA Support surgeries at major hospitals in Japan and 1. Sterilization and Surgical Support Business shift toward higher value-added services • Strengthen quality and shift to higher value-added services 1. Expa
Slide 37: Focus Area (1): Sterilization and Surgical Support
2. Business Strategy HS FOCUS AREA (1): STERILIZATION AND SURGICAL SUPPORT IN-HOSPITAL OFF-SITE Operational Support in Operating Rooms • Preparation of surgical instruments and Surgical medical materials Support • Instrument management support • Reduction of indirect workload for Advanced Services o
Slide 38: Focus Area (2): Home Visit Nursing Demand
2. Business Strategy HS FOCUS AREA (2): HOME VISIT NURSING DEMAND DEMAND FOR HOME VISIT NURSING Challenges • Highly labor-dependent industry Annual trends in the estimated number of • Highly competitive market with many participants (thousand people) outpatients receiving home healthcare ("different
Slide 39: Capital Allocation Policy
3. Financial Strategy CAPITAL ALLOCATION POLICY OVERVIEW KEY POINTS • Dividend will remain stable and progressive on an ongoing basis Asset Sale: 150 or more Investment CF • Aim for Dividend on Equity (DOE) ratio 6% 400 • Implement share repurchases actively and flexibly Progressive dividend • Imple
Slide 40: Shareholder Return
③ 3. Financial Strategy Financial Strategy SHAREHOLDER RETURN Historical Dividend per Share and Share Repurchases Share Share （JPY） Repurchases Repurchases 200 5.0 B JPY 5.0 B JPY 144 150 130 130 130 Anniversary 125 125 125 125 125 125 114 Dividend 100 Progressive 50 Dividends 0 2016 2017 2018 2019
Slide 41: Strengthening Human Capital
4. Human Capital STRENGTHENING HUMAN CAPITAL Aim to be a company where employees are willing to build long-term careers • Empathy with our MISSION / VISION • Work that directly relates to the lives of employees and their families(diseases and healthcare) • A sense of achievement and responsibility f
Slide 42: Strengthening Governance
5. Governance STRENGTHENING GOVERNANCE Management and independent directors act as ONE TEAM to achieve corporate value enhancement • The role of Board of Directors: not only oversight but also strengthening management together • Positioning of governance • A foundation supporting the creation and ex
Slide 43: Outline of H.U.2030 2.0
Summary OUTLINE OF “H.U.2030” 2.0 Mid-Term Management Plan “H.U.2030” 2.0 – Towards a Global H.U. Group – 1. Introduce “Disease-specific” strategy, leveraging our unique strength, to achieve global growth • Strong focus on Oncology and NEURO, while positioning infectious diseases and other areas as
Slide 44: 3. FY2026 Outlook
3. FY2026 (Ending March 31, 2027) OUTLOOK 43
Slide 45: FY2026 Financial Target
FY2026 FINANCIAL TARGET (100 Million JPY) FY2025 FY2026 Target YoY Net Sales 2,474 2,560 +86 +3.5% LTS 1,573 1,640 +67 +4.3% IVD 607 650 +43 +7.0% HS 293 270 -23 -7.9% EBITDA 265 290 +25 +9.3% LTS 137 155 +18 +13.4% IVD 147 163 +16 +11.1% HS 31 25 -6 -18.7% Operating Profit 48 90 +42 +88.3% LTS 0 27
Slide 46: FY2026 Financial Target (Net Sales / OP)
FY2026 FINANCIAL TARGET (NET SALES / OP) (100 Million JPY) NET SALES OPERATING PROFIT IVD （+）CDMO: Global market recovery and new project gains 2,600 （+）NEURO: Steady growth in line with market development 120 IVD -23 2,560 （＋）NEURO growth +43 （＋）Lumipulse Japan growth 100 -1 90 -3 2,500 +67 +19 80
Slide 47: Glossary
５０ GLOSSARY 46
Slide 48: Glossary
GLOSSARY Term Definition AD Alzheimer’s Disease BMGL Baylor Miraca Genetics Laboratories, an equity-method affiliate in U.S., providing genetic testing for cancer and congenital diseases CAP College of American Pathologists CDMO Contract Development and Manufacturing Organization CE mark A mark indi
Slide 49: Disclaimer regarding forward-looking statement
Disclaimer regarding forward-looking statement: The financial forecasts and forward-looking statements contained in this document are based on information currently available to the Company’s management, as well as certain assumptions and judgments that involve inherent risks and uncertainties. Actu