THE BEST QUALITY IN THE WORLD, TO THE WORLD
FY2026 1Q Financial ResultsPresident and Representative Executive Officer Masaya Watanabe
January 14, 2026
FY2026 1Q Financial Results
FY26 1Q: Highlights
Recovery in China Business due to Resumption of "MANI DIA-BURS" Sales
Regulatory approval received from Chinese authorities on October 29, 2025; sales resumed
Four months after resumption (Nov-Feb): projected cumulative sales of ¥1,050 million, replenishing distribution inventory
Sales are projected to reach over 80% of pre-recall levels in the latter half of FY26 (Mar-Aug)
Share Acquisition in German Distributor iRIS EYE GmbH (Equity-Method Affiliate)
iRIS EYE Gmbh became an equity-method affiliate to expand the European surgical business through collaboration
Establishment of New Factory in China
Local production in China to respond to domestic preferential policy, while thoroughly managing investment risks
Establishment of a new global three-site production system: Vietnam, Smart Factory (Hanaoka), China
FY2026 1Q Financial Results
China Business: Resumption of "MANI DIA-BURS" Sales
Background
In March 2025, a voluntary recall of certain MANI DIA-BURS began due to incomplete product registration information with Chinese authorities. The recall was mostly completed by August.
Regulatory approval for the recalled products was obtained in October 2025, and sales resumed.
Sales progress after resumption
The initial plan; to recover sales to 90% of pre-recall levels within two years The progress is ahead of schedule.
Four months after resumption (Nov-Feb), cumulative sales are expected to reach 1,050 million yen, replenishing distribution inventory.
About 70% of major public hospitals have repurchased
About 50% of clinics have repurchased, continue to be active
About 90% of distributors have repurchased
Sales will reach over 80% of pre-recall levels in the latter half of FY26 (Mar-Aug)
MANI
Local Subsidiary in China
(Sales Base)
Distribution Inventory
LD*
Distributor
End Users Hospitals Clinics
*LD：Logistic Dealer 3
FY2026 1Q Financial Results
Share Acquisiton in German Distributor iRIS EYE GmbH
Positioning of Europe in the Surgical Business:
Europe accounts for about 30% of segment sales
One of the key investment areas in the mid-term plan
Strengths of iRIS EYE:
Over 20 years of collaborative relationship with MANI
Unique sales network and marketing capabilities within Germany
Investment Overview:
Acquired 36.67% of issued shares from major shareholder
iRIS EYE became an equity-method affiliate
Growth Initiatives Centered on iRIS EYE:
Support for European ophthalmology hospital chains
Expand sales into Eastern Europe
Supply chain restructuring
Expansion of customer contact points, including European KOL doctors
Sales Plan
Sales increase through collaboration with MANI
Standalone growth
CAGR12%
Standalone growth CAGR6%
2022 2023 2024 2025 2026 2027 2028 2029 2030
For reference, please refer to the disclosure released on December 22, 2025
"Notice Regarding Share Acquisition of German Distributor iRIS EYE GmbH (Conversion to Equity-Method Affiliate) " 4
FY2026 1Q Financial Results
Establishment of New Factory in China (1):
Aims and Basic Policy
Respond to China's domestic preferential policy and strengthen competitiveness
Introduce automated production technology from the Smart Factory for rapid startup
Rent factory building
→ control investment and thoroughly manage risk
Response to Domestic Preferential Policy and Strengthening Competitiveness
Vietnam Factory (Global Mass Production)
China Factory
(Local Production for China)
Japan Hanaoka Factory (Mother factory)
Name | MANI China (Foshan) Co., Ltd. |
Establishment | April 2024 |
Location | Foshan, Guangdong Province |
Investment | ¥1.2 billion |
Products | Start with ophthalmic knives, expand product lineup |
Mass production | 2028 |
For reference, please refer to the disclosure released on January 14, 2026
"Notice Regarding Establishment of Chinese Manufacturing Subsidiary" 5
FY2026 1Q Financial Results
Establishment of New Factory in China (2):
Global Production Roadmap
The Smart Factory will serve as the mother factory, establishing a global automated production
system
Continuous production reforms at the Vietnam factory
Vietnam Factory
FY25
Current products: eyeless needles, dia-burs, files, ophthalmic knives, etc.
FY35
Global Mass Production
Ongoing production
reforms
Rollout
SF production
technology
Hanaoka Factory (SF)
Mother Factory
From 2026: Sequential production of
ophthalmic knives → JIZAI → vitreous
forceps
China
From 2028: Start of ophthalmic knife production→
Factory
Local Production for China
Gradual expansion of
product lineup
6
FY2026 1Q Financial Results
FY2026 1Q Financial Results
Consolidated Financial Results Summary (¥ million)
1Q sales reached the highest for a quarter, and operating income was the highest ever for 1Q
Dental (resumption of sales of dia-burs in China) and Eyeless Needle (Asia) drove sales growth
SG&A expenses were as planned. The recovery in dental profitability contributed to an overall operating income margin of 28.8%
Ordinary income and net income increased due to higher operating income and forex gains
FY25 1Q Results （A） | FY26 1Q Results （B） | Changes in Amount (C=B-A) | Changes in % (C/A) | FY26 Forecasts （D) | Forecast Progress Rate (B/D) | |||
Net sales | 7,655 | 7,828 | +173 | +2.3% | 32,800 | 23.9% | ||
Cost of sales [%] | 2,653 [34.7%] | 2,669 [34.1%] | +15 | +0.6% [(0.6%)] | 11,400 [34.8%] | 23.4% | ||
SG&A expenses [%] | 2,893 [37.8%] | 2,904 [37.1%] | +10 | +0.3% [(0.7%)] | 12,200 [37.2%] | 23.8% | ||
Operating income [%] | 2,107 [27.5%] | 2,255 [28.8%] | +148 | +7.0% [+1.3%] | 9,200 [28.0%] | 24.5% | ||
Ordinary income | 2,298 | 2,686 | +388 | +16.9% | 8,950 | 30.0% | ||
Net income | 1,598 | 1,896 | +297 | +18.6% | 6,450 | 29.4% |
FY2026 1Q Financial Results
Operating Income to Profit Before Income Taxes (Details)
(¥ million)
FY25 1Q Results | FY26 1Q Results | YoY | Notes | |
Operating income | 2,107 | 2,255 | +148 | |
Non-operating income | 209 | 566 | +357 | |
Foreign exchange gains | 144 | 492 | +348 | Increase due to yen depreciation |
Interest income | 33 | 31 | (2) | |
Non-operating expenses | 18 | 136 | +118 | |
Unoperated land-related costs | 14 | 120 | ＋106 | Increase in depreciation related to Hanaoka Factory before operation |
Ordinary income | 2,298 | 2,686 | +388 | |
Extraordinary income | 12 | 17 | +5 | |
Extraordinary losses | 4 | 0 | (4) | |
Profit before income taxes | 2,306 | 2,703 | +397 |
FY2026 1Q Financial Results
Net Sales Status by Segment
(¥ million)
Increase in sales YoY +173 million [+2.3%]
Increase in the Dental and Eyeless Needle segments, while Surgical decreased due to inventory adjustments
The impact of the dia-burs in China caused a ¥250 million decrease in 1Q; there were negative effects from September to October, but there was significant improvement from November onward
+173
(250)
(49) +93 +206
Foreign exchange
China dia-burs 1Q sales
Surgical Eyeless Needle
Dental
MANI Dental
7,655
difference Decrease due to
inventory
adjustment in China and lower demand in other regions
Increased sales mainly in Thailand, India, and China
(excluding the impact of dia-burs in China)
+216
Increase in Europe
MMG* (10)
Decrease due to sluggish sales in Europe, despite increased orders in North America
7,828
FY25 1Q FY26 1Q
FY2026 1Q Financial Results
Net Sales Status by Region
(¥ million)
Achieved steady global sales growth
Growth in Asia: Increase in sales of eyeless needles, mainly in Thailand and India
Decrease in sales of the Surgical segment in other regions (due to temporary factors)
+15
Japan
+19
Americas
North America
+77
Europe
+150
Asia
(88)
Other regions
•
•
+36
Central and South
(17)
•
•
•
•
China
(88)
Thailand +182
Russia (100)
Others ＋12
America
India
Others
+97
(41)
7,655
7,828
FY2026 1Q Financial Results
Operating Income Status (¥ million)
Increase in operating income YoY +¥148 million [7.0%]
Foreign exchange impact +¥121 million, and improved cost ratio +¥37 million contributed to gross profit improvement
SG&A expenses were almost as planned
2,107
2,255
Analysis for Gross profit
Foreign exchange impact +121
Cost ratio improvement +37
Gross profit impact
+158
SG&A expenses impact (10)
+173 (15) +175 (185)
Net sales
Cost of sales Elimination of
previous
performance-linked bonuses (temporary factor)
SG&A expenses
Strengthening in the U.S.
Strengthening in Asia
Improvement in MMG
FY2026 1Q Financial Results
Surgical Segment - Results Analysis
（¥ million）
FY24
FY25
FY26
Item
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
YoY
QoQ
Net sales
1,945
1,841
2,214
2,151
2,442
2,276
2,257
2,298
2,446
100%
106%
Operating income
651
592
748
647
838
804
718
718
827
99%
115%
Operating income margin
34%
32%
34%
30%
34%
35%
32%
31%
34%
0pt
3pt
Overview
1Q | YoY | QoQ | ||
Japan | 707 | 110% | 105% | |
Asia | 624 | 95% | 138% | |
China | 394 | 78% | 142% | |
India | 28 | 99% | 100% | |
Europe | 732 | 107% | 112% | |
North America | 176 | 117% | 61% | |
Others | 204 | 67% | 90% | |
Total | 2,446 | 100% | 106% | |
Recorded the highest quarterly net sales. Strong sales of ophthalmic knives in Japan and Europe
The growth rate from FY25 to FY26 is expected to be 109% as planned (FY25/1Q had special temporary factors)
In China, the number of cataract surgeries was suppressed due to medical expense policies, resulting in high distribution inventory
Expect improvement in the latter half of FY26
Future Key Measures
Strengthening in Europe through a capital alliance with iRIS EYE
Promote alliance with MST in the U.S.
Focus on marketing in Southeast Asia (Indonesia, Malaysia)
Sales by region
FY2026 1Q Financial Results
Eyeless Needle Segment - Results Analysis
（¥ million）
FY24
FY25
FY26
Item
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
YoY
QoQ
Net sales
2,520
2,454
2,855
2,392
2,844
2,711
2,776
2,850
3,006
106%
105％
Operating income
966
945
1,069
890
1,046
1,022
976
957
1,106
106%
115%
Operating income margin
38%
39%
38%
37%
37%
38%
35%
34%
37%
0pt
3pt
Overview
Recorded the highest quarterly net sales
1Q
YoY
QoQ
Japan
232
105%
92%
Asia
1,568
116%
96%
China
928
106%
97%
India
183
158%
106%
Europe
431
97%
117%
North America
360
83%
107%
Others
413
106%
155%
Total
3,006
106%
105%
- YoY: 106%
GPO contract in China and major orders from a customer in Thailand have contributed to the YoY growth
Inventory adjustments in North America and Europe have occurred
Future Key Measures
Expand sales by taking advantage of our special needles' product superiority
(e.g. micro-surgery needles, black needles)
Countermeasures against emerging market competitors
Sales expansion through the acquisition of new customers
Achieve fundamental reduction of manufacturing costs
Customer support by launch of resin tray business
Sales by region
FY2026 1Q Financial Results
Dental Segment - Results Analysis
（¥ million）
FY24
FY25
FY26
Item
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
YoY
QoQ
Net sales
2,648
2,498
2,631
2,360
2,368
2,167
2,435
2,538
2,375
100%
94%
Operating income
605
435
482
355
222
237
267
382
322
145%
84%
Operating income margin
23%
17%
18%
15%
9%
11%
11%
15%
14%
5pt
(1pt)
Overview
1Q | YoY | QoQ | ||
Japan | 227 | 79% | 44% | |
Asia | 1,398 | 98% | 102% | |
China | 740 | 97% | 133% | |
India | 331 | 110% | 116% | |
Europe | 412 | 111% | 124% | |
North America | 259 | 148% | 142% | |
Others | 78 | 76% | 56% | |
Total | 2,375 | 100% | 94% | |
Sales recovered after the resumption of China diamond bur sales and increased sales in Europe and North America, showing a recovery trend from 2Q onward.
The German subsidiary MMG is promoting reforms toward profitability.
1Q: Sales are ¥510 million, operating income is (¥70 million)
Increased orders from major customers in the US led to higher sales.
Started sales of own-brand products from FY26.
Future Key Measures
Strengthen the recovery of the China Business
Ongoing turnaround at German subsidiary MMG
Continue expansion of JIZAI-1 and development of JIZAI-2
Sales by region
FY2026 1Q Financial Results
Balance Sheet Status
（¥ million）
Maintained strong equity capital
Assets +¥1,591 million: Increase in cash and deposits due to increased free cash flow
Net assets +¥1,127 million: Increase in net profit and foreign currency translation adjustments
Assets Liabilities and Net Assets
3,787
20,834
6,620
57,987
59,579
57,987
59,579
18,424
6,337
5,217
28,009 28,338
Cash & deposits
Inventories
Other current assets
Non-current assets
4,425 4,889
53,561 54,689
Liabilities
Net assets
As of August 31, 2025
As of November 30, 2025
As of August 31, 2025
As of
November 30, 2025 16
THE BEST QUALITY IN THE WORLD, TO THE WORLDThis presentation contains forward-looking statements that were prepared based on available information and rational judgements by MANI, Inc. Readers are asked not to rely completely on the performance forecasts and understand that results may differ from such forecasts due to a variety of risks and uncertainties.
《Inquiry》
MANI, INC.
Corporate Planning Group 8-3 Kiyohara Industrial Park, Utsunomiya, Tochigi TEL：+81 28-667-1811
17
Email：ir@mani.inc HP：https://www.mani.co.jp/en/
Appendix
FY2026 1Q Financial Results
Quarterly Consolidated Performance （¥ million）
FY24 | FY25 | FY26 | |||||||||
Item | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Consolidated Performance | Net sales | 7,114 | 6,793 | 7,702 | 6,903 | 7,655 | 7,155 | 7,469 | 7,687 | 7,828 | |
Operating income | 2,223 | 1,974 | 2,300 | 1,893 | 2,107 | 2,064 | 1,963 | 2,057 | 2,255 | ||
Operating income margin | 31.3% | 29.1% | 29.9% | 27.4% | 27.5% | 28.9% | 26.3% | 26.8% | 28.8% | ||
Exchange Rate | USD/JPY | 149.10 | 146.75 | 153.14 | 154.14 | 149.03 | 154.11 | 146.18 | 146.33 | 151.50 | |
EUR/JPY | 159.30 | 159.46 | 165.44 | 167.57 | 161.99 | 160.51 | 162.03 | 169.93 | 176.38 | ||
CNY/JPY | 20.47 | 20.43 | 21.16 | 21.29 | 20.88 | 21.12 | 20.14 | 20.38 | 21.28 | ||
INR/JPY | 1.79 | 1.77 | 1.84 | 1.84 | 1.77 | 1.79 | 1.70 | 1.69 | 1.71 | ||
FY2026 1Q Financial Results
Quarterly Sales by Region (Consolidated)
（¥ million）
FY24 | FY25 | FY26 | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Japan | 1,105 （16%） | 937 (14%) | 1,060 (14%) | 1,102 (16%) | 1,152 (15%) | 1,134 (16%) | 1,148 (15%) | 1,436 (19%) | 1,167 (15%) | |
Asia | 3,653 (51%) | 3,195 (47%) | 3,766 (49%) | 3,278 (47%) | 3,440 (45%) | 3,138 (44%) | 3,395 (45%) | 3,451 (45%) | 3,591 (46%) | |
China | 2,449 (34%) | 1,888 (28%) | 2,352 (31%) | 1,952 (28%) | 2,151 (28%) | 1,724 (24%) | 1,889 (25%) | 1,793 (23%) | 2,063 (26%) | |
India | 392 (6%) | 422 (6%) | 412 (5%) | 457 (7%) | 445 (6%) | 405 (6%) | 481 (6%) | 486 (6%) | 542 (7%) | |
Europe | 1,276 (18%) | 1,443 (21%) | 1,488 (19%) | 1,351 (20%) | 1,500 (20%) | 1,332 (19%) | 1,534 (21%) | 1,353 (18%) | 1,577 (20%) | |
North America | 655 (9%) | 707 (10%) | 763 (10%) | 661 (10%) | 760 (10%) | 773 (11%) | 564 (8%) | 811 (11%) | 796 (10%) | |
Others | 422 (6%) | 508 (7%) | 623 (8%) | 510 (7%) | 800 (10%) | 776 (11%) | 826 (11%) | 634 (8%) | 696 (9%) | |
Total | 7,114 (100%) | 6,793 (100%) | 7,702 (100%) | 6,903 (100%) | 7,655 (100%) | 7,155 (100%) | 7,469 (100%) | 7,687 (100%) | 7,828 (100%) | |
FY2026 1Q Financial Results
Quarterly Sales by Regions (Surgical Segment)
（¥ million）
FY24 | FY25 | FY26 | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Japan | 636 (33%) | 529 (29%) | 642 (29%) | 653 (30%) | 643 (26%) | 648 (28%) | 669 (30%) | 673 (29%) | 707 (29%) | |
Asia | 547 (28%) | 499 (27%) | 606 (27%) | 540 (25%) | 660 (27%) | 642 (28%) | 678 (30%) | 453 (20%) | 624 (26%) | |
China | 424 (22%) | 351 (19%) | 436 (20%) | 377 (18%) | 508 (21%) | 439 (19%) | 484 (21%) | 278 (12%) | 394 (16%) | |
India | 29 (2%) | 24 (1%) | 30 (1%) | 30 (1%) | 28 (1%) | 27 (1%) | 32 (1%) | 28 (1%) | 28 (1%) | |
Europe | 450 (23%) | 517 (28%) | 609 (27%) | 595 (28%) | 682 (28%) | 596 (26%) | 655 (29%) | 652 (28%) | 732 (30%) | |
North America | 83 (4%) | 133 (7%) | 172 (8%) | 177 (8%) | 151 (6%) | 205 (9%) | 42 (2%) | 292 (13%) | 176 (7%) | |
Others | 228 (12%) | 161 (9%) | 186 (8%) | 184 (9%) | 305 (12%) | 182 (8%) | 211 (9%) | 227 (10%) | 204 (8%) | |
Total | 1,945 (100%) | 1,841 (100%) | 2,215 (100%) | 2,151 (100%) | 2,442 (100%) | 2,276 (100%) | 2,257 (100%) | 2,298 (100%) | 2,446 (100%) | |
FY2026 1Q Financial Results
Quarterly Sales by Regions (Eyeless Needle Segment)
（¥ million）
FY24 | FY25 | FY26 | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Japan | 190 (8%) | 204 (8%) | 219 (8%) | 222 (9%) | 222 (8%) | 229 (8%) | 250 (9%) | 251 (9%) | 232 (8%) | |
Asia | 1,227 (49%) | 1,221 (50%) | 1,395 (49%) | 1,228 (51%) | 1,351 (48%) | 1,317 (49%) | 1,343 (48%) | 1,625 (57%) | 1,568 (52%) | |
China | 790 (31%) | 711 (29%) | 873 (31%) | 738 (31%) | 878 (31%) | 836 (31%) | 705 (25%) | 958 (34%) | 928 (31%) | |
India | 101 (4%) | 115 (5%) | 105 (4%) | 135 (6%) | 116 (4%) | 76 (3%) | 126 (5%) | 172 (6%) | 183 (6%) | |
Europe | 481 (19%) | 383 (16%) | 424 (15%) | 404 (17%) | 445 (16%) | 398 (15%) | 428 (15%) | 370 (13%) | 431 (14%) | |
North America | 441 (18%) | 450 (18%) | 432 (15%) | 307 (13%) | 433 (15%) | 407 (15%) | 358 (13%) | 337 (12%) | 360 (12%) | |
Others | 180 (7%) | 194 (8%) | 386 (14%) | 229 (10%) | 391 (14%) | 359 (13%) | 395 (14%) | 266 (9%) | 413 (14%) | |
Total | 2,520 (100%) | 2,454 (100%) | 2,856 (100%) | 2,392 (100%) | 2,844 (100%) | 2,711 (100%) | 2,776 (100%) | 2,850 (100%) | 3,006 (100%) | |
FY2026 1Q Financial Results
Quarterly Sales by Regions (Dental Segment)
（¥ million）
FY24 | FY25 | FY26 | ||||||||
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Japan | 279 (11%) | 204 (8%) | 200 (8%) | 226 (10%) | 287 (12%) | 255 (12%) | 228 (9%) | 511 (20%) | 227 (10%) | |
Asia | 1,878 (71%) | 1,474 (59%) | 1,766 (67%) | 1,509 (64%) | 1,428 (60%) | 1,179 (54%) | 1,373 (56%) | 1,372 (54%) | 1,398 (59%) | |
China | 1,234 (47%) | 825 (33%) | 1,042 (40%) | 837 (35%) | 763 (32%) | 447 (21%) | 699 (29%) | 556 (22%) | 740 (31%) | |
India | 261 (10%) | 282 (11%) | 278 (11%) | 292 (12%) | 300 (13%) | 300 (14%) | 322 (13%) | 285 (11%) | 331 (14%) | |
Europe | 345 (13%) | 542 (22%) | 455 (17%) | 350 (15%) | 373 (16%) | 337 (16%) | 450 (19%) | 331 (13%) | 412 (17%) | |
North America | 130 (5%) | 123 (5%) | 160 (6%) | 176 (7%) | 175 (7%) | 160 (7%) | 163 (7%) | 181 (7%) | 259 (11%) | |
Others | 14 (1%) | 153 (6%) | 51 (2%) | 97 (4%) | 103 (4%) | 234 (11%) | 219 (9%) | 140 (6%) | 78 (3%) | |
Total | 2,648 (100%) | 2,498 (100%) | 2,631 (100%) | 2,360 (100%) | 2,368 (100%) | 2,167 (100%) | 2,435 (100%) | 2,538 (100%) | 2,375 (100%) | |
FY2026 1Q Financial Results
Cumulative Consolidated Performance
（¥ million）
FY24 | FY25 | FY26 | |||||||||
Item | 1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | ||
Consolidated Performance | Net sales | 7,114 | 13,908 | 21,610 | 28,513 | 7,655 | 14,810 | 22,280 | 29,968 | 7,828 | |
Operating income | 2,223 | 4,197 | 6,498 | 8,392 | 2,107 | 4,172 | 6,135 | 8,193 | 2,255 | ||
Operating income margin | 31.3% | 30.2% | 30.1% | 29.4% | 27.5% | 28.2% | 27.5% | 27.3% | 28.8% | ||
Exchange Rate | USD/JPY | 149.10 | 147.92 | 149.66 | 150.78 | 149.03 | 151.57 | 149.77 | 148.91 | 151.50 | |
EUR/JPY | 159.30 | 159.38 | 161.40 | 162.94 | 161.99 | 161.25 | 161.51 | 163.62 | 176.38 | ||
CNY/JPY | 20.47 | 20.45 | 20.68 | 20.84 | 20.88 | 21.00 | 20.71 | 20.63 | 21.28 | ||
INR/JPY | 1.79 | 1.78 | 1.80 | 1.81 | 1.77 | 1.78 | 1.76 | 1.74 | 1.71 | ||
FY2026 1Q Financial Results
Product Segments
Surgical Eyeless Needle DentalSurgical instruments, such as ophthalmic knives and skin staplers
Competitive advantages:
Superior sharpness and microfabrication technology that adapts to surgical miniaturization and precision
Contribution to shortening operation time, reducing the burden on the human body, and preventing postoperative complications
Surgical suture needles, needles for surgical sutures (OEM production)
Competitive advantages
The accumulation of our microfabrication technology and our original material development
High penetrability and resistance to breakage
Wide variety of needles to meet customer needs (Diverse lineup of 10,000 types of needles)
Dental instruments, dental restoration materials
Competitive advantages：
Dental endodontic instruments' excellent durability and centering ability towards root canal
Dental restorative materials that do not contain environmental hormones and are easy for dentists to use
Dia-burs and reamers/files have high market shares (Top market share in Asia)
Ophthalmic Knives (used for cataract surgery)
Skin stapler
Dental Endodontic Instruments (Reamers/Files)
Dental Rotary and Cutting Instruments (Dia-burs)
Eyeless Needle
Eyed Needle
Dental Restoration Material
FY2026 1Q Financial Results
Company Overview
Company Name | MANI, INC. | Representative | CEO Masaya Watanabe |
Stock code | 7730 | Employees | 432 (consolidated: 4,140) （as of August 31, 2025） |
Established | 1956 | Capital | ¥1,087 million（as of August 31, 2025） |
Head Office 8-3 Kiyohara Industrial Park, Utsunomiya, Tochigi | |||
THE BEST QUALITY IN THE WORLD, TO THE WORLD Sales region
North America
Others
¥3.03 billion (10.1%)
Japan
¥4.87 billion (16.3%)
Over120 countries/regions
Overseas sales ratio
¥2.91 billion(9.7%)
Europe
¥5.72 billion (19.1%)
Consolidated sales
¥30 billion
※As of August 31, 2025
Asia
¥13.43 billion (44.8%)
83.7%
Ophthalmic knives global share approx.30％
FY2026 1Q Financial Results
Global Network
Germany (Frankfurt)
MANI MEDICAL GERMANY GmbH (formally GDF)
R&D base, production base and sales base India（Delhi）
America (California)
MANI MEDICAL AMERICA, INC.
Sales base
MANI MEDICAL INDIA
PRIVATE LIMITED
Sales base
Myanmar (Yangon)
MANI YANGON LTD.
Japan (Tochigi)
MANI, INC.
Headquarters
China (Beijing)
MANI Medical Beijing Co., Ltd.
Sales base
China (Foshan)
MANI China (Foshan) Co., Ltd.
Production base
Vietnam (Hanoi)
Production base
Malaysia (Kuala Lumpur)
MANI MEDICAL DEVICE MALAYSIA SDN. BHD.
Sales base
MANI MEDICAL HANOI CO., LTD MANI HANOI CO., LTD.
Production base and sales base
Laos（Vientiane）
MANI VIENTIANE SOLE CO., LTD.
Production base
FY2026 1Q Financial Results
History
Since our foundation, MANI has consistently worked on the development, production, and sales of consumer
healthcare products and expanding its business
1996: Established production base in Vietnam
2010 onward: Established overseas sales bases (Vietnam ⇒ China ⇒ India ⇒ Malaysia ⇒ USA)
2015: Acquired German company (MMG) in the dental field, also seeking business synergies
（¥ 100 million）
350
300
1979
Launched reamers/files
1993
Launched skin staplers
2020
2023
Launched vitreous forceps for treating internal ocular diseases
2025
¥300 million
250
World Share
2015
Started sales of endodontic rotary
instruments using highly flexible nickel titanium
200
150
1961
Manufactured the world's first rust-proof and unbreakable stainless-steel needles
1976
Launched stainless-steel dental broaches
30％
1988
Launched dia-burs
Began supplying composite resin with the acquisition of GDF (currently MMG)
1998
Launched our core product
ophthalmic knives
100
50
World Share
20％
World Share
15％
World Share
30％
0
1960 1970 1980 1990 2000 2010 2020 28
FY2026 1Q Financial Results
Achieving Long-Term Growth
Achieve both sales growth and high profit margins
Business model that has resilience in the recession period (high income margin even in the event of the Lehman shock and COVID-19 shock)
(¥ million)
Net sales
Operating income margin
245
285
300
328
32%
35%
37%
39% 41% 39%
37% 38% 37%
36%
32% 34%
138
166 172
201
183
32%
152
172
204
88
76 82
67
56
47
93 94 95 97
114
93
30%
26%
25%
25%
29% 31% 30% 30% 29% 27% 28%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
COVID-19
Lehman Shock
29
30