Announcement • Jun 02
Japan Lifeline Co., Ltd. to Report Q1, 2027 Results on Jul 30, 2026 Japan Lifeline Co., Ltd. announced that they will report Q1, 2027 results at 9:00 AM, Tokyo Standard Time on Jul 30, 2026 Reported Earnings • May 08
Full year 2026 earnings: EPS exceeds analyst expectations Full year 2026 results: EPS: JP¥133 (up from JP¥131 in FY 2025). Revenue: JP¥59.2b (up 4.6% from FY 2025). Net income: JP¥9.35b (flat on FY 2025). Profit margin: 16% (in line with FY 2025). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.2%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • May 07
Japan Lifeline Co., Ltd., Annual General Meeting, Jun 26, 2026 Japan Lifeline Co., Ltd., Annual General Meeting, Jun 26, 2026. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥54.00 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 29 June 2026. Payout ratio is a comfortable 41% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.2%). Announcement • Mar 05
Japan Lifeline Co., Ltd. to Report Fiscal Year 2026 Results on May 07, 2026 Japan Lifeline Co., Ltd. announced that they will report fiscal year 2026 results on May 07, 2026 Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: JP¥29.18 (vs JP¥37.60 in 3Q 2025) Third quarter 2026 results: EPS: JP¥29.18 (down from JP¥37.60 in 3Q 2025). Revenue: JP¥15.1b (up 2.0% from 3Q 2025). Net income: JP¥2.05b (down 22% from 3Q 2025). Profit margin: 14% (down from 18% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 20% per year. Announcement • Nov 28
Japan Lifeline Co., Ltd. to Report Q3, 2026 Results on Jan 30, 2026 Japan Lifeline Co., Ltd. announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Oct 31
Dividend of JP¥54.00 announced Shareholders will receive a dividend of JP¥54.00. Ex-date: 30th March 2026 Payment date: 29th June 2026 Dividend yield will be 3.7%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (50% cash payout ratio). The dividend has increased by an average of 29% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: JP¥35.24 (vs JP¥29.89 in 2Q 2025) Second quarter 2026 results: EPS: JP¥35.24 (up from JP¥29.89 in 2Q 2025). Revenue: JP¥14.7b (up 5.0% from 2Q 2025). Net income: JP¥2.47b (up 18% from 2Q 2025). Profit margin: 17% (up from 15% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 16% per year whereas the company’s share price has increased by 15% per year. Announcement • Sep 01
Japan Lifeline Co., Ltd. to Report Q2, 2026 Results on Oct 29, 2025 Japan Lifeline Co., Ltd. announced that they will report Q2, 2026 results on Oct 29, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings released: EPS: JP¥32.84 (vs JP¥31.94 in 1Q 2025) First quarter 2026 results: EPS: JP¥32.84. Revenue: JP¥14.6b (up 4.3% from 1Q 2025). Net income: JP¥2.30b (down 1.6% from 1Q 2025). Profit margin: 16% (down from 17% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. Announcement • Jun 27
Japan Lifeline Co., Ltd. to Report Q1, 2026 Results on Jul 31, 2025 Japan Lifeline Co., Ltd. announced that they will report Q1, 2026 results on Jul 31, 2025 Reported Earnings • Jun 24
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥131 (up from JP¥98.72 in FY 2024). Revenue: JP¥56.6b (up 10% from FY 2024). Net income: JP¥9.32b (up 24% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.9%. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • May 08
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: JP¥131 (up from JP¥98.72 in FY 2024). Revenue: JP¥56.6b (up 10% from FY 2024). Net income: JP¥9.32b (up 24% from FY 2024). Profit margin: 17% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 3.9%. Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 07
Japan Lifeline Co., Ltd., Annual General Meeting, Jun 26, 2025 Japan Lifeline Co., Ltd., Annual General Meeting, Jun 26, 2025. Announcement • Mar 28
Japan Lifeline Co., Ltd. Announces Board Changes, Effective June 26, 2025 Japan Lifeline Co., Ltd. announced at its Board of Directors meeting held on March 28, 2025, it has decided to changes in the Board of Directors: Retiring Directors: Tadashi Idei, Board Director, Fumihiro Sasaki, Outside Director; Masahiko Nakamura, Outside Director (Audit and Supervisory Committee Members); Daizo Asari: Outside Director (Audit and Supervisory Committee Members). AGM scheduled to be held on June 26, 2025. Atsuhiro Suzuki as Vice President and COO Representative Director. Mr. Atsuhiro Suzuki and Mr. Tadashi Idei are scheduled to be the Company's consultants on the same day. Changes of Operating Officer (Effective on June 26, 2025): Tatsuya Murase as Vice President and COO Old position: Chief Commercial Officer Head of Business Operations Headquarters. Announcement • Mar 02
Japan Lifeline Co., Ltd. to Report Fiscal Year 2025 Results on May 07, 2025 Japan Lifeline Co., Ltd. announced that they will report fiscal year 2025 results on May 07, 2025 Price Target Changed • Feb 04
Price target increased by 7.1% to JP¥1,518 Up from JP¥1,418, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥1,561. Stock is up 22% over the past year. The company is forecast to post earnings per share of JP¥117 for next year compared to JP¥98.72 last year. Reported Earnings • Feb 01
Third quarter 2025 earnings released: EPS: JP¥37.60 (vs JP¥28.32 in 3Q 2024) Third quarter 2025 results: EPS: JP¥37.60 (up from JP¥28.32 in 3Q 2024). Revenue: JP¥14.8b (up 13% from 3Q 2024). Net income: JP¥2.64b (up 23% from 3Q 2024). Profit margin: 18% (up from 16% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 12% per year. Announcement • Jan 03
Japan Lifeline Co., Ltd. to Report Q3, 2025 Results on Jan 31, 2025 Japan Lifeline Co., Ltd. announced that they will report Q3, 2025 results on Jan 31, 2025 Declared Dividend • Nov 30
Dividend of JP¥46.00 announced Shareholders will receive a dividend of JP¥46.00. Ex-date: 28th March 2025 Payment date: 27th June 2025 Dividend yield will be 3.5%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is covered by both earnings (39% earnings payout ratio) and cash flows (57% cash payout ratio). The dividend has increased by an average of 31% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 22% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 13
Japan Lifeline Co., Ltd. to Report Q2, 2025 Results on Oct 31, 2024 Japan Lifeline Co., Ltd. announced that they will report Q2, 2025 results on Oct 31, 2024 New Risk • Aug 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 02
First quarter 2025 earnings released: EPS: JP¥31.94 (vs JP¥30.03 in 1Q 2024) First quarter 2025 results: EPS: JP¥31.94 (up from JP¥30.03 in 1Q 2024). Revenue: JP¥14.0b (up 8.2% from 1Q 2024). Net income: JP¥2.34b (flat on 1Q 2024). Profit margin: 17% (down from 18% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Reported Earnings • Jun 23
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥98.72 (up from JP¥88.22 in FY 2023). Revenue: JP¥51.4b (flat on FY 2023). Net income: JP¥7.52b (up 9.1% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 2.6% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • May 29
Japan Lifeline Co., Ltd. to Report Q1, 2025 Results on Jul 31, 2024 Japan Lifeline Co., Ltd. announced that they will report Q1, 2025 results on Jul 31, 2024 Announcement • May 24
Japan Lifeline Co., Ltd. Proposes Dividend for the Fiscal Year Ended March 31, 2024 Japan Lifeline Co., Ltd. proposed dividend of JPY 42.00 for the fiscal year ended March 31, 2024 at its 44th Ordinary General Meeting of Shareholders to be held on June 26, 2024. Latest dividend forecast announced on May 1, 2024 was JPY 42.00. Date of record is March 31, 2024. Effective date is June 27, 2024. Reported Earnings • May 04
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: JP¥98.72 (up from JP¥88.22 in FY 2023). Revenue: JP¥51.4b (flat on FY 2023). Net income: JP¥7.52b (up 9.1% from FY 2023). Profit margin: 15% (up from 13% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to stay flat during the next 3 years compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Upcoming Dividend • Mar 21
Upcoming dividend of JP¥42.00 per share Eligible shareholders must have bought the stock before 28 March 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 3.3%. Within top quartile of Japanese dividend payers (3.2%). Higher than average of industry peers (0.9%). Announcement • Feb 07
Japan Lifeline Co., Ltd. to Report Q4, 2024 Results on May 01, 2024 Japan Lifeline Co., Ltd. announced that they will report Q4, 2024 results on May 01, 2024 Price Target Changed • Feb 07
Price target increased by 11% to JP¥1,400 Up from JP¥1,258, the current price target is an average from 4 analysts. New target price is 6.8% above last closing price of JP¥1,311. Stock is up 46% over the past year. The company is forecast to post earnings per share of JP¥99.68 for next year compared to JP¥88.21 last year. Reported Earnings • Feb 04
Third quarter 2024 earnings released: EPS: JP¥28.32 (vs JP¥11.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥28.32 (up from JP¥11.15 in 3Q 2023). Revenue: JP¥13.2b (up 1.2% from 3Q 2023). Net income: JP¥2.14b (up 146% from 3Q 2023). Profit margin: 16% (up from 6.7% in 3Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Feb 02
Japan Lifeline Co., Ltd. Provides Dividend Guidance for the Year Ending March 31, 2024 Japan Lifeline Co., Ltd. provided dividend guidance for the year ending March 31, 2024. For the year, the company expects to pay a dividend of JPY 42 against JPY 38 paid last year. Announcement • Feb 01
Japan Lifeline Co., Ltd. Announces the Appointment of Nobuo Takahashi as Operating Officer, Associate Executive Manager of CVG Business Unit Japan Lifeline Co., Ltd. announced the appointment of Nobuo Takahashi as Operating Officer, Associate Executive Manager of CVG Business Unit, Effective on February 1, 2024. Price Target Changed • Dec 08
Price target increased by 11% to JP¥1,258 Up from JP¥1,130, the current price target is an average from 4 analysts. New target price is 7.8% above last closing price of JP¥1,166. Stock is up 25% over the past year. The company is forecast to post earnings per share of JP¥101 for next year compared to JP¥88.21 last year. New Risk • Dec 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Announcement • Dec 02
Japan Lifeline Co., Ltd. Announces Management Changes Japan Lifeline Co., Ltd. at its meeting held on December 1, 2023 announced to make the following changes to its organizations and personnel, effective on January 1, 2024. The company appointed Takashi Ito, Operating Officer, Senior Manager of Device Department of Arrhythmia Business Unit as Senior Operating Officer, Executive Manager of Arrhythmia Business Unit, Senior Manager of Arrhythmia Sales Department; Hiroki Matsumura, General Manager of CRM Marketing Division of Device Department of Arrhythmia Business Unit as Senior Manager of Device Department of Arrhythmia Business Unit, General Manager of CRM Marketing Division and Ryo Tamayama, General Manager of VS Marketing of VS Department of CVG Business Unit as Senior Manager of VS Department of CVG Business Unit, General Manager of VS Marketing. Announcement • Nov 10
Japan Lifeline Co., Ltd. to Report Q3, 2024 Results on Feb 02, 2024 Japan Lifeline Co., Ltd. announced that they will report Q3, 2024 results on Feb 02, 2024 Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: JP¥22.31 (vs JP¥22.54 in 2Q 2023) Second quarter 2024 results: EPS: JP¥22.31 (down from JP¥22.54 in 2Q 2023). Revenue: JP¥12.2b (down 2.7% from 2Q 2023). Net income: JP¥1.70b (down 3.0% from 2Q 2023). Profit margin: 14% (in line with 2Q 2023). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Price Target Changed • Nov 07
Price target increased by 13% to JP¥1,280 Up from JP¥1,130, the current price target is provided by 1 analyst. New target price is 20% above last closing price of JP¥1,066. Stock is up 10% over the past year. The company is forecast to post earnings per share of JP¥109 for next year compared to JP¥88.21 last year. Buying Opportunity • Nov 02
Now 23% undervalued Over the last 90 days, the stock is up 1.9%. The fair value is estimated to be JP¥1,436, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 21%. Revenue is forecast to grow by 7.8% in 2 years. Earnings is forecast to grow by 6.5% in the next 2 years. Buying Opportunity • Oct 04
Now 21% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be JP¥1,416, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 3.8% per annum over the same time period. Announcement • Aug 22
Japan Lifeline Co., Ltd. Announces That It Will Start Selling A New Lineup of Its Proprietary Open Stent Graft Product Frozenix Partial ET from August 2023 Japan Lifeline Co., Ltd. announced that it will start selling a new lineup of its proprietary open stent graft product Frozenix Partial ET from August 2023. Open stent grafts are a type of artificial blood vessel used in surgical procedures to repair blood vessels damaged by thoracic aortic disease. This device reduces the difficulty of the surgeon's technique and allows patients to complete two surgeries in one, reducing physical burden. Since launching Frozenix as a one-of-a-kind product in 2015, the Company has accumulated over 20,000 cases of use globally, leaving good postoperative results. The Frozenix Partial ET is expected to reduce complications*1 caused by the placement of stent grafts by changing the stent wire diameter while inheriting the features of the conventional product. In addition, the product design incorporates features that make the surgeon's technique easier in case additional treatment is needed. With the introduction of this product, the Company aims to open up a new market for open stent grafts and further promote their use. The Company is focusing on strengthening the product capability of open stent grafts in its mid-term strategy for cardiovascular (aortic) related issues. Together with the Frozenix 4 Branched launched in the previous fiscal year, it is eager to establish a product portfolio that broadly addresses the medical needs of thoracic aortic disease and further strengthen its top share position in aortic treatment. Buying Opportunity • Aug 09
Now 23% undervalued Over the last 90 days, the stock is up 5.7%. The fair value is estimated to be JP¥1,401, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 3.3% per annum. Earnings is also forecast to grow by 4.3% per annum over the same time period. Reported Earnings • Aug 03
First quarter 2024 earnings released: EPS: JP¥30.02 (vs JP¥24.73 in 1Q 2023) First quarter 2024 results: EPS: JP¥30.02 (up from JP¥24.73 in 1Q 2023). Revenue: JP¥13.0b (flat on 1Q 2023). Net income: JP¥2.33b (up 20% from 1Q 2023). Profit margin: 18% (up from 15% in 1Q 2023). Revenue is forecast to grow 3.3% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jun 30
Japan Lifeline Co., Ltd. to Report Q2, 2024 Results on Nov 06, 2023 Japan Lifeline Co., Ltd. announced that they will report Q2, 2024 results on Nov 06, 2023 Reported Earnings • May 12
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: JP¥88.21 (down from JP¥93.12 in FY 2022). Revenue: JP¥51.8b (flat on FY 2022). Net income: JP¥6.89b (down 7.9% from FY 2022). Profit margin: 13% (down from 14% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.5%. Revenue is forecast to stay flat during the next 3 years compared to a 6.0% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • May 10
Japan Lifeline Announces Changes in Board of Directors, Effective June 28, 2023 Japan Lifeline Co., Ltd. announced that the Company has decided to make the following changes to the members of Board of Directors. This matter is to be officially decided at the Annual General Meeting of Shareholders, which is scheduled to be held on June 28, 2023, and at the subsequent Board of Directors' meeting and Audit and Supervisory Committee. Newly Appointed Directors (excluding those who are members of the Audit and Supervisory Committee) (Effective on June 28, 2023): Name: Takeyoshi Egaw; New position and title: Vice President, Senior Manager of Business Administration Department of Corporate Administration Headquarters, General Manager of Finance & Accounting Division against old position and title: Senior Operating Officer, Senior Manager of Business Administration Department of Corporate Administration Headquarters, General Manager of Finance & Accounting Division. Reappointed Directors (Effective on June 28, 2023): Name: Atsuhiro Suzuki; New position and title: Senior Executive Vice President and COO, Executive Manager of Arrhythmia Business Unit, Officer in charge of Corporate Administration Headquarters, R&D and Manufacturing Headquarters, CVG Business Unit, Regulatory Affairs Headquarters and Marketing and Communications Division against Old position and title: Senior Executive Vice President and COO, Officer in charge of Corporate Administration Headquarters, R&D and Manufacturing Headquarters, Arrhythmia Business Unit, CVG Business Unit, Regulatory Affairs Headquarters and Marketing and Communications Division. Resigning Directors (Effective on June 28, 2023): Kazuhiko Nogami, Senior Vice President, Executive Manager of Arrhythmia Business Unit. Mr. Kazuhiko Nogami is scheduled to be the Company's consultant on the same day. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥38.00 per share at 4.1% yield Eligible shareholders must have bought the stock before 30 March 2023. Payment date: 29 June 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.1%. Within top quartile of Japanese dividend payers (3.6%). Higher than average of industry peers (1.1%). Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: JP¥11.15 (vs JP¥24.01 in 3Q 2022) Third quarter 2023 results: EPS: JP¥11.15 (down from JP¥24.01 in 3Q 2022). Revenue: JP¥13.0b (down 6.3% from 3Q 2022). Net income: JP¥869.0m (down 55% from 3Q 2022). Profit margin: 6.7% (down from 14% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 6.1% growth forecast for the Medical Equipment industry in Japan. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Buying Opportunity • Nov 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 5.9%. The fair value is estimated to be JP¥1,244, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 3.0%. For the next 3 years, revenue is forecast to grow by 1.2% per annum. Earnings is forecast to decline by 2.1% per annum over the same time period. Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: JP¥23.64 (vs JP¥23.49 in 2Q 2022) Second quarter 2023 results: EPS: JP¥23.64. Revenue: JP¥12.7b (up 1.8% from 2Q 2022). Net income: JP¥1.85b (down 2.0% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Medical Equipment industry in Japan. Reported Earnings • Nov 05
Second quarter 2023 earnings released: EPS: JP¥23.64 (vs JP¥23.49 in 2Q 2022) Second quarter 2023 results: EPS: JP¥23.64. Revenue: JP¥12.7b (up 1.8% from 2Q 2022). Net income: JP¥1.85b (down 2.0% from 2Q 2022). Profit margin: 14% (in line with 2Q 2022). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Medical Equipment industry in Japan. Major Estimate Revision • Nov 03
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 EPS estimate fell from JP¥123 to JP¥96.92 per share. Revenue forecast steady at JP¥51.4b. Net income forecast to shrink 0.8% next year vs 8.7% growth forecast for Medical Equipment industry in Japan . Consensus price target down from JP¥1,075 to JP¥1,033. Share price fell 4.7% to JP¥969 over the past week. Announcement • Oct 12
Japan Lifeline Co., Ltd. Launches Series of In-House Products for Biliary-Pancreatic Endoscopy Japan Lifeline Co., Ltd. announced that it will begin marketing several of its proprietary biliary-pancreatic products, including the cholangioscope and surrounding treatment tools "the DRES series", from October 2022. The Company says that it will line up a series of medical devices used for diagnosis and treatment in the realm of biliary-pancreatic endoscopy to fully accelerate this new business. The products are scheduled to be launched after the 30th Japan Digestive Disease Week (JDDW2022) (October 27-30, 2022), where Japan Lifeline's products will be exhibited. The digestive organs can be broadly divided into three groups: the gastrointestinal tract (esophagus, stomach, and large intestine), liver, and bile-pancreas (gall bladder, bile duct, and pancreas). Diseases in the biliary- pancreatic group include bile duct stones, biliary cancer, and pancreatic cancer. The bile ducts and pancreatic ducts are the passageways for digestive fluids flowing from the liver and pancreas to the duodenum. If they become blocked by stones or cancer, various symptoms such as jaundice occur. The biliary and pancreatic ducts are commonly examined and treated under contrasting images using a cholangioscope. (ERCP*1) Japan Lifeline estimates the domestic market for biliary-pancreatic endoscopy-related products to be worth approximately JPY 29 billion in 2020, and to grow even further in the future. Japan Lifeline has been developing its cholangioscope and other treatment tools based on its unique manufacturing technology for high-performance catheter shafts cultivated in the cardiovascular space. Japan Lifeline's proprietary cholangioscope features the ability to reuse expensive endoscopes, typically disposable as for conventional cholangioscopes. Furthermore, the inner diameter of the forceps port inside the sheath is larger than that of conventional products, so that physicians can choose tools to use from a wider variety. The Company is expecting that these features will provide medical professionals with the benefits of improved efficiency and precision in diagnosis and treatment, in addition to cost advantages. Japan Lifeline has promoted product development applying its proprietary technologies while strengthening its sales and marketing ability in the gastrointestinal space. The Company has introduced a colonic stent as its first product in the same space in 2017, a radiofrequency ablation needle for liver cancer treatment in 2019, and a gastro-duodenal stent in 2021. The Company is eager to further develop products for biliary-pancreatic endoscopy to nurture its gastrointestinal business as the second pillar following its mainstay cardiovascular. List of Biliary-Pancreatic Products to be Launched: Category: Product Name: DRES Scope (Steerable Model), DRES Slim Scope (Fix Model), DRES Console and DRES CMOS Camera (Small Endoscope); Launch Schedule: October 2022. Category: Treatment tools: Product Name: DRES ERCP Cannula, DRES Forceps and RIGEL Bile Duct Dilation Balloon; launch date: October 2022, DRES Stone Basket: launch date: Fourth Quarter of FYE March 2023, and REGULUS Tube Stent for Bile Duct: launch date: August 2022 (Launched). Announcement • Sep 01
Japan Lifeline Co., Ltd. Announces Executive Changes, Effective October 1, 2022 Respectively Japan Lifeline Co., Ltd. announced that at the board of directors meeting held on August 31, 2022 the Company has decided to make the following changes to its organizations and personnel. Operating Officer, Associate Executive Manager of Arrhythmia Business Unit (in charge of EP business), Shigeki Kitayama to Operating Officer, Senior Manager of EP Department of Arrhythmia Business Unit; Operating Officer, Senior Manager of EP Department ofArrhythmia Business Unit, General Manager of Domestic Marketing Division, Naohiro Nakada to Operating Officer,Associate Senior Manager of EP Department of Arrhythmia Business Unit, General Manager of EP Sales Promotion Division; Operating Officer, Senior Manager of Arrhythmia Sales ivision III of Arrhythmia Sales Department of Arrhythmia Business Unit, General Manager of EP Sales Promotion Division, Takahiko Suzuki to Operating Officer,Associate Senior Manager of Arrhythmia Sales Department of Arrhythmia Business Unit, Senior Manager of Arrhythmia Sales Division III, effective October 1, 2022 respectively. Announcement • Aug 02
Japan Lifeline Co., Ltd. to Report Q3, 2023 Results on Feb 01, 2023 Japan Lifeline Co., Ltd. announced that they will report Q3, 2023 results on Feb 01, 2023 Reported Earnings • Jul 31
First quarter 2023 earnings released: EPS: JP¥24.73 (vs JP¥21.17 in 1Q 2022) First quarter 2023 results: EPS: JP¥24.73 (up from JP¥21.17 in 1Q 2022). Revenue: JP¥13.0b (up 2.8% from 1Q 2022). Net income: JP¥1.95b (up 14% from 1Q 2022). Profit margin: 15% (up from 14% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to stay flat compared to a 9.7% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has fallen by 19% per year, which means it is performing significantly worse than earnings. Price Target Changed • Jun 07
Price target decreased to JP¥1,120 Down from JP¥1,352, the current price target is an average from 4 analysts. New target price is 22% above last closing price of JP¥920. Stock is down 34% over the past year. The company is forecast to post earnings per share of JP¥120 for next year compared to JP¥93.12 last year. Announcement • May 26
Japan Lifeline Co., Ltd. Announces Dividend for Year Ended March 31, 2022, Effective Date Is June 29, 2022 Japan Lifeline Co., Ltd. announced dividend of JPY 38.00 against JPY 49 per share for year ended March 31, 2022. Date of record is March 31, 2022, Effective date is June 29, 2022. Reported Earnings • May 13
Full year 2022 earnings: EPS in line with expectations, revenues disappoint Full year 2022 results: EPS: JP¥93.12 (up from JP¥24.90 in FY 2021). Revenue: JP¥51.5b (flat on FY 2021). Net income: JP¥7.48b (up 274% from FY 2021). Profit margin: 14% (up from 3.9% in FY 2021). Revenue missed analyst estimates by 2.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is forecast to stay flat compared to a 7.6% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 21% per year whereas the company’s share price has fallen by 22% per year. Major Estimate Revision • May 12
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in 2023 has deteriorated. 2023 revenue forecast decreased from JP¥54.7b to JP¥51.3b. EPS estimate also fell from JP¥102 per share to JP¥89.35 per share. Net income forecast to grow 6.3% next year vs 4.9% growth forecast for Medical Equipment industry in Japan. Consensus price target broadly unchanged at JP¥1,374. Share price fell 14% to JP¥933 over the past week. Announcement • Apr 01
Japan Lifeline Co., Ltd. Appoints Shigeki Kitayama as Operating Officer Japan Lifeline Co., Ltd. announced the appointment of Shigeki Kitayama as Operating Officer, Associate Executive Manager of Arrhythmia Business Unit (in charge of EP business), with effect from April 1, 2022. Upcoming Dividend • Mar 23
Upcoming dividend of JP¥38.00 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 32% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Japanese dividend payers (3.4%). Higher than average of industry peers (0.9%). Reported Earnings • Jan 30
Third quarter 2022 earnings: EPS misses analyst expectations Third quarter 2022 results: EPS: JP¥24.01 (up from JP¥31.57 loss in 3Q 2021). Revenue: JP¥13.9b (flat on 3Q 2021). Net income: JP¥1.93b (up JP¥4.47b from 3Q 2021). Profit margin: 14% (up from net loss in 3Q 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 5.3%, compared to a 8.1% growth forecast for the industry in Japan. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Price Target Changed • Dec 23
Price target decreased to JP¥1,500 Down from JP¥1,625, the current price target is an average from 4 analysts. New target price is 41% above last closing price of JP¥1,062. Stock is down 32% over the past year. The company is forecast to post earnings per share of JP¥98.01 for next year compared to JP¥24.90 last year. 
