FY2025 2Q
Financial Results & Forecasts
MANI, INC.
THE BEST QUALITY IN THE WORLD, TO THE WORLD
April 11, 2025
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FY2025 2Q Financial Results & Forecasts
Apology for the Voluntary Recall of "MANI DIA-BURS"in China
We deeply apologize for any inconvenience caused by the voluntary recall of our "MANI DIA-BURS (Generic name is Dental Diamond Burs)."
We have discovered that the product registration information submitted to the Chinese regulatory authorities was incomplete, and currently, we are taking appropriate measures. Since this matter is related to the application to the Chinese regulatory authorities, we have determined that there are no problems with the efficacy and safety of the products and that there will be no impact on patients' health. In addition, there will be no impact on sales in other regions.
The impact on the consolidated financial results for fiscal year ending August 31, 2025, is currently under close examination, and if any matters arise that should be announced in the future, we will disclose them promptly.
Please refer to the following timely disclosure link for further details.
April 9, 2025 "Notice Regarding Voluntary Product Recall of 'MANI DIA-BURS'"
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FY2025 2Q Financial Results & Forecasts
Background and Future Actions
Background
Contents
disclosed on April 9, 2025
-
Discovered that the product registration information submitted to the Chinese regulatory authorities (NMPA) for two product numbers of "MANI DIA-BURS" was incomplete.
Voluntarily recalled 2 LOTs (disclosed on October 31, 2024) - Discovered that some of the product registration information for other "MANI DIA-BURS" was incomplete and needed to apply for changes. Due to this discovery, we have decided to conduct an additional voluntary recall.
- Approximately 50% of the "MANI DIA-BURS" will require changes to their product registration information, and sales of these products will be suspended until the application for changes is certified.
- Products will be back for sales after gaining approval from NMPA. 3
FY2025 2Q Financial Results & Forecasts
Business Execution Structure after May 1, 2025
Chairperson of Board of
Executive Officers
Director, President and
Representative Executive
Officer,
Director, Executive Vice
President,
Senior Managing Executive
Officer
Senior Managing Executive
Officer
Managing Executive Officer
Managing Executive Officer
Administrative Officer
Administrative Officer
Administrative Officer
Masahiko Saito
Masaya Watanabe
Kazuo Takahashi
Hideshi Fukumoto
Shuichi Kurita
Tomomi Kosaka
Naohisa Hashimoto
Kentaro Inatomi
Kaoru Ogane
Hajime Terada
Technical Fellow,
Department Head of Quality Assurance Department
Chief Executive Officer
Assistant to the President (Special Appointive Officer), Chief Financial Officer, Chief Risk Management Officer, Office Head of Corporate Planning Office
Division Head of Monozukuri Division,
Department Head of Research and Development Department
Division Head of Business Division,
Department Head of Global Sales Department
Assistant Division Head of Monozukuri Division,
Department Head of Manufacturing Department
Assistant to the President (Deputy Corporate Officer),
Office Head of Audit Office
President of MANI MEDICAL GERMANY GmbH
Department Head of Global Operations Department
Assistant to the President
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FY2025 2Q Financial Results
*External disclosure figures are rounded down. However, some of the components in this document are rounded to the nearest whole number, and the sum of each component is adjusted to the total.
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FY2025 2Q Financial Results & Forecasts | |
Consolidated Financial Results | （¥ million） |
- In FY25 2Q, net sales have increased while operating income remained steady
- Despite the negative impact of the voluntary recall of "MANI DIA-BURS," net sales increased [up 6.5% YoY] due to strong sales in the Surgical and Eyeless Needle segments.
- Operating income remained flat, while ordinary income and net income decreased due to reduced foreign exchange gains.
FY24 2Q | FY25 2Q | Changes | Changes | FY25 | Forecast | ||
Results | Results | in Amount | in % | Forecasts | Progress Rate | ||
（A） | （B） | (C=B-A) | (C/A) | （D) | (B/D) | ||
Net sales | 13,908 | 14,810 | +902 | +6.5% | 30,200 | 49.0% | |
Cost of sales | 5,213 | 5,317 | +103 | +2.0% | 10,500 | 50.6% | |
[%] | [37.5%] | [35.9%] | (34.8%) | ||||
SG&A | 4,497 | 5,321 | +824 | +18.3% | 10,800 | 49.3% | |
expenses | |||||||
[32.3%] | [35.9%] | (35.8%) | |||||
[%] | |||||||
Operating | 4,197 | 4,172 | (25) | (0.6%) | 8,900 | 46.9% | |
income | |||||||
[30.2%] | [28.2%] | (29.5%) | |||||
[%] | |||||||
Ordinary | 4,551 | 4,277 | (274) | (6.0%) | 8,850 | 48.3% | |
income | |||||||
Net income | 3,191 | 2,940 | (251) | (7.9%) | 6,350 | 46.3% | 6 |
FY2025 2Q Financial Results & Forecasts
Operating Income to Profit Before Income Taxes (Details) （¥ million）
FY24 2Q | FY25 2Q | YoY | Notes | |||
Results | Results | |||||
Operating income | 4,197 | 4,172 | (25) | |||
Non-operating | 371 | 187 | (183) | |||
income | ||||||
Foreign exchange gains | 210 | 20 | (189) | Foreign exchange gains decreased due to yen | ||
appreciation | ||||||
Interest income | 115 | 103 | (11) | |||
Non-operating | 18 | 82 | ＋64 | |||
expenses | ||||||
Depreciation costs | 0 | 31 | +31 | Increase in depreciation related to Hanaoka Factory | ||
(Smart Factory) before operation | ||||||
Ordinary income | 4,551 | 4,277 | (274) | |||
Extraordinary income | 2 | 10 | ＋7 | Gain on sale of non-current assets | ||
(Realization of internal gain on proceeds from sale of | ||||||
subsidiary's production equipment of a subsidiary) | ||||||
Extraordinary losses | 3 | 16 | ＋13 | Loss on retirement of non-current assets | ||
Profit before | 4,550 | 4,271 | (279) | |||
income taxes | 7 | |||||
FY2025 2Q Financial Results & Forecasts | |
Net Sales Status by Segment | （¥ million） |
- Increase in sales YoY +¥902 million [+6.5%]
- Sales of Surgical and Eyeless Needle segments continued to grow, while sales of Dental segment declined mainly in the Chinese market.
+254 | +820 | +492 |
Eyeless | ||
Foreign | Surgical | |
Needle | ||
exchange | Sales of ophthalmic | Sales growth |
knives have | mainly in | |
increased in Europe | China and | |
and China | Central and | |
13,908 | South America | |
(664) Dental
MANI Dental (586)
• Sales declined mainly due to
the impact of the voluntary recall of dia-burs in China
MMG (78)
• Sales by major customers in | 14,810 |
Europe are declining |
FY24 2Q | Exchange rate | FY25 2Q | |
Rate in FY25 2Q: 1USD=151.57JPY 1EUR=161.25JPY 1CNY=21.00JPY | |||
Rate in FY24 2Q: 1USD=147.92JPY 1EUR=159.38JPY 1CNY=20.45JPY | 8 |
FY2025 2Q Financial Results & Forecasts
Net Sales Status by Region
（¥ million）
- Reaping market growth in each region
- Emerging countries, such as Central and South America and Egypt, grew (Eyeless Needle and Dental segments)
- In China, sales of the Surgical and Eyeless Needle segments grew, however, sales declined due to the Dental segment's voluntary recall of dia-burs.
+243 | +170 | +113 | +645 | (269) | |
Other | Asia | ||||
Japan | North | Europe | • | ||
America | regions | China (463) | |||
• | India +36 | ||||
• | Central and | ||||
• | Others ＋158 | ||||
South America | |||||
+427 | |||||
13,908 | • | Others ＋218 | 14,810 | ||
FY24 2Q | Exchange rate | FY25 2Q | |
Rate in FY25 2Q: 1USD=151.57JPY 1EUR=161.25JPY 1CNY=21.00JPY | |||
Rate in FY24 2Q: 1USD=147.92JPY 1EUR=159.38JPY 1CNY=20.45JPY | 9 |
FY2025 2Q Financial Results & Forecasts
Operating Income Status
（¥ million）
- Operating income remained steady YoY (¥25 million) [(0.6%)]
- Although there was a temporary increase in costs (performance-linked bonuses) in FY25 1Q, both gross profit margin and SG&A expenses were in line with the plan in FY25 2Q
Gross profit impact +635 | SG&A expenses impact (789) |
+129 | |
Foreign | |
exchange | |
• Gross profit impact | |
4,197 | ＋¥164 million |
• SG&A expenses |
(¥35) million
+405 | +230 | (350) | (439) |
Improvement | |||
Performance- | |||
Increase in | in cost of | ||
linked bonuses | Personnel costs, | ||
sales | sales ratio | ||
and other | R&D costs | ||
special factors | Sales marketing | ||
costs, etc. | |||
4,172 |
FY24 2Q | Exchange rate | FY25 2Q | |
Rate in FY25 2Q: 1USD=151.57JPY 1EUR=161.25JPY 1CNY=21.00JPY | |||
Rate in FY24 2Q: 1USD=147.92JPY 1EUR=159.38JPY 1CNY=20.45JPY | 10 |