Phc Holdings Corp. · TSE:6523
Phc — Q2 2026 Earnings Presentation
33 slides from Phc's earnings presentation, Nov 13, 2025
Slide 1: Financial Results for the Second Quarter of Fiscal Year Ending March 31, 2026
Financial Results for the Second Quarter of Fiscal Year Ending March 31, 2026 (FY2025) PHC Holdings Corporation November 12, 2025 Tokyo Stock Exchange Prime Market | 6523
Slide 2: Disclaimer
Disclaimer This document was prepared by PHC Holdings Corporation (referred to as the “Company,” herein) solely for informational purposes. This document does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in the United States, Japan, or any other
Slide 3: Contents
Contents 01 Executive Summary 02 FY25Q2 Financial Results Summary 03 FY25 Full Year Forecasts 04 Appendix ©PHC Holdings Corporation 2025 • Corporate functions have been reviewed. Please refer to page 27 for details. • For the meanings of business-related and financial terms and abbreviations, please
Slide 4: Executive Summary
01 Executive Summary PpHe
Slide 5: Financial Highlights for FY25Q2 YTD
Financial Highlights for FY25Q2 YTD In DM, revenue increased due to solid performance particularly in Europe and the U.S., despite the continued decline of the BGM market. In HS, revenue increased due to growth in EMR/medical-receipt system sales, which offset the decline of e-prescription product
Slide 6: FY25 Full Year Forecasts
FY25 Full Year Forecasts Revenue In DM, despite the impact of excluding the CGM business in Q4 due to the business transfer, the forecast has been revised upward based on solid performance of the BGM business and the favorable impact of the weaker JPY to increase YoY. Additionally, HQ & Others rev
Slide 7: Progress of Initiatives in the Value Creation Plan
Progress of Initiatives in the Value Creation Plan Strengthening the Profit Base / Focus on Diagnostics & Life Science Portfolio Management Signing of the Memorandum on Launched CO2 Incubator with Proprietary Humidity Control Function in Japan Understanding on the CGM business Transfer URL https://w
Slide 8: Publication of the 2025 Integrated Report
Publication of the 2025 Integrated Report With our new vision, “Be a leader in precision technology that powers the future of healthcare,” the report showcases PHC Group's long-standing expertise in precision technologies and its contributions and value to healthcare, and medical and research prac
Slide 9: FY25Q2 Financial Results Summary
02 FY25Q2 Financial Results Summary
Slide 10: FY25Q2 Results
FY25Q2 Results FY24Q2 FY25Q2 FY24 FY25 YoY YoY YTD YTD Q2 Q2 Variance Variance (JPY in 100 millions) Results Results Results Results Revenue 1,739 1,734 -5 887 895 +8 Operating Profit 92 104 +12 72 65 -7 Profit Before Tax 74 9 -65 102 29 -72 Profit Attributable to Owners of Parent 41 -6 -47 73 18 -5
Slide 11: Quarterly Trends in Revenue and Operating Profit
Quarterly Trends in Revenue and Operating Profit Revenue tends to increase in the latter half of the fiscal year due to seasonality. In FY25Q2, revenue increased from Q1, driven by the solid performance of BGM and Healthcare IT Solutions. Operating profit was up 70% from Q1 with the robust performan
Slide 12: Revenue by Segment and Business Unit
Revenue by Segment and Business Unit FY24Q2 FY25Q2 Revenue Composition Variance YTD YTD (JPY in 100 millions) Excluding Excluding (JPY in 100 millions) Results Results FX Impact Results FX Impact 2% Diabetes Management 483 487 492 +0.9% +2.0% Healthcare Solutions 615 627 627 +1.9% +1.9% 28% 34% LSIM
Slide 13: Analysis of Revenue Growth and Operating Profit Growth
Analysis of Revenue Growth and Operating Profit Growth (JPY in 100 millions) Revenue 1,800 Revenue Growth Rate +0.7% +15 +1 +7 +15 1,751 +10 -10 1,750 1,739 -10 1,734 -15 -17 1,700 FY24 Q2 Diabetes LSIM Healthcare IT CRO Pathology Biomedical IVD HQ & FY25 Q2 FX Impact FY25 Q2 YTD Management Solution
Slide 14: Diabetes Management Segment
[Diabetes Management Segment] Revenue and Operating Profit Despite the declining market and FX impact between JPY and USD, BGM revenue remained solid in Europe and the U.S., and 365-day CGM product contributed. As a result, total revenue increased YoY. Operating profit increased significantly driven
Slide 15: Healthcare Solutions Segment
[Healthcare Solutions Segment] Revenue and Operating Profit Revenue increased slightly YoY, driven by higher sales in genetic testing and EMR/medical-receipt systems, which offset decreased e-prescription product sales and revenue decline in the CRO business. Despite the revenue growth and cost redu
Slide 16: Diagnostics & Life Sciences Segment
[Diagnostics & Life Sciences Segment] Revenue and Operating Profit Revenue decreased YoY, due to slow equipment demand in the U.S., JPY appreciation against USD, lower revenue in the IVD business, and the absence of one-time income recorded in FY24. Despite the price revisions, operating profit decl
Slide 17: Revenue by Region
Revenue by Region In Japan, revenue increased due to performance in HS. In Europe, revenue rose as solid performance in BGM and Pathology drove growth. In North America, despite growth in BGM, revenue decreased due to FX and slow demand in D&LS. In other regions, revenue increased slightly as growth
Slide 18: Reconciliation for Adjusted EBITDA
Reconciliation for Adjusted EBITDA FY24Q2 YTD Results FY25Q2 YTD Results HQ & HQ & DM HS D&LS Consolidated DM HS D&LS Consolidated Others Others (JPY in millions) Operating Profit* 6,361 3,635 3,494 -4,278 9,212 9,328 2,970 1,317 -3,237 10,378 + Depreciation 3,323 4,984 5,661 340 14,310 2,224 5,205
Slide 19: Key Consolidated Balance Sheet Information
Key Consolidated Balance Sheet Information Cash and cash equivalents decreased by JPY 6.3 billion from FY24-end. Goodwill increased by JPY 5.6 billion due to FX impact. Despite a total repayment of JPY 11.9 billion, the debt balance decreased by only JPY 7.6 billion due to FX effects. Borrowings mat
Slide 20: FY25Q2 YTD Consolidated Cash Flow
FY25Q2 YTD Consolidated Cash Flow Operating cash flow totaled JPY +12.1 billion. CAPEX was JPY 4.4 billion. Financial cash flow was JPY -17.6 billion, primarily due to debt repayments of JPY 11.9 billion, lease liability repayments of JPY 3.0 billion, and dividend payments of JPY 2.6 billion. Conseq
Slide 21: FY25 Full Year Forecasts
FY25 Full Year Forecasts PpHe
Slide 22: FY25 Full Year Consolidated Forecasts
FY25 Full Year Consolidated Forecasts FY25 FY25 Change from FY24 YoY Comments on Change Forecast Forecast Previous Results Variance from Previous Forecast (JPY in 100 millions) (As of May) (As of Nov) Forecast Revenue 3,616 3,631 3,631 +15 - See page 23 Operating Profit 226 174 200 -26 +26 See page
Slide 23: FY25 Full Year Forecasts for Revenue and Operating Profit
FY25 Full Year Forecasts for Revenue and Operating Profit Comparison to Previous Forecasts Revenue Operating Profit* (JPY in 100 millions) (JPY in 100 millions) +28 3,660 -10 240 3,631 Healthcare +38 3,631 Diabetes Solutions +42 0 3,620 Management Healthcare Solutions +11 200 200 -56 Others -26 Othe
Slide 24: FY25 Full Year Segment Forecasts
FY25 Full Year Segment Forecasts FY25 FY25 FY24 YoY Change from Forecast Forecast Results Variance* Previous Forecast (JPY in 100 millions) (As of Aug) (As of Nov) Diabetes Management 987 962 990 +3 +28 Healthcare Solutions 1,283 1,323 1,313 +30 -10 Revenue Diagnostics & Life Sciences 1,309 1,337 1,
Slide 25: Updates on Impacts of U.S. Tariff Actions
Updates on Impacts of U.S. Tariff Actions Assumptions as of May Current Status As for the potential risk after mitigation, the Q1 results estimated annual impact is JPY 1.0-1.5 billion • P&L impact is approx. JPY 200 million • Optimization of supply chain is progressing as planned. Mitigation
Slide 26: Appendix
04 Appendix
Slide 27: Impact of Corporate Function Review
Impact of Corporate Function Review Starting in FY25, following the review of our corporate functions and the transfer of some headquarters roles to each business, the year-on-year variances include the impact of this change. The impact amounts for each segment are as follows. FY25Q2 FY24 FY25 YoY I
Slide 28: FX Gains and Losses Recognized in Financial Income and Expenses
FX Gains and Losses Recognized in Financial Income and Expenses FX gains and losses accrue from the settlement and FX valuation of receivables and payables denominated in foreign currencies of the Company and its subsidiaries. Due to the weaker JPY against the EUR at FY25Q2-end compared to FY24Q
Slide 29: CAPEX・Depreciation / R&D Expenses
CAPEX・Depreciation / R&D Expenses Depreciation expenses decreased due to the completion of amortization for some intangible assets. CAPEX was focused on maintenance and renewal in line with the Capital Allocation in the VCP. CAPEX ・ Depreciation R&D Expenses (JPY in 100 millions) CAPEX (JPY in 100 m
Slide 30: FX Sensitivity
FX Sensitivity PHC Group is exposed to the following impacts on its full year results depending on the respective change in exchange rates (depreciation of JPY 1 throughout the year). (JPY in millions) Currencies Pair Revenue Operating Profit JPY/EUR +400 0 JPY/USD +550 +35 ©PHC Holdings Corporati
Slide 31: Glossary
Glossary Business DM Diabetes Management HS Healthcare Solutions D&LS Diagnostics & Life Sciences BGM Blood Glucose Monitoring CGM Continuous Glucose Monitoring IVD In Vitro Diagnostics Finance* EBITDA EBITDA = Operating profit + depreciation + impairment loss (excluding marketable securities) A
Slide 32: Historical Financial Data
Historical Financial Data The following data are available on our website. Quarterly Data From FY23 to FY25Q2 Include: Consolidated Balance Sheet Profit & Loss including adjustment items Cash Flow Statement Segment Revenue, Operating Profit, Adjusted EBITDA including adjustment items Reven
Slide 33: DHc GROUP
DHc GROUP