M3M3, Inc.2413東証プライムサービス業FY ending Mar 2026, consolidated, IFRS

M3 FY ending Mar 2026 results

About 30% of M3's sales come from Medical Platform, with Overseas and Patient Solution making up much of the rest.

Out of every ¥100 of sales, about ¥21 is left as operating profit.

Revenue changed +23.3% from the prior year, operating profit +16.8%.

Revenue and profit pattern

Revenue and profit upRevenue grew faster

Revenue +23.3% · profit +16.8%, calculated from disclosed figures.

Operating leverage: 0.72× (profit growth ÷ revenue growth)

What changed from last year

FY ending Mar 2025 → FY ending Mar 2026

Revenue: +23.3%¥284.9B → ¥351.4B
Gross profit: +13.9%¥154.4B → ¥175.8B
Operating income: +16.8%¥63B → ¥73.5B
Net income attributable to owners: +21.3%¥40.5B → ¥49.1B
Operating cash flow: +35.8%¥51.7B → ¥70.3B
Free cash flow: +36.4%¥42.8B → ¥58.3B

Results at a glance

Revenue for FY ending Mar 2026 was ¥351.4B, up 23.3% from ¥284.9B the year before.
Operating income rose 16.8% to ¥73.5B and net income attributable to owners rose 21.3% to ¥49.1B, so profit grew a little more slowly than sales.
Cash generation grew faster: operating cash flow was ¥70.3B (up 35.8%) and free cash flow was ¥58.3B (up 36.4%).

What drove the change

Patient Solution sales jumped because the company took over Elan, which supplies clothing and daily-use kits to hospital patients.
Medical Platform grew thanks to the addition of employee-benefits provider Ewel and steady demand for pharma marketing support and digital tools for clinics.
Overseas, further impairment losses on the North American clinical-trial business and the UK doctor-recruiting business held back profit growth.

Things to watch

Drug makers, the main customers, keep merging, and merged customers may renegotiate their contracts.
The effect of US policy changes on tariffs and healthcare rules is hard to predict.
Goodwill built up through acquisitions would have to be written down if those businesses lose value.

Annual Securities Report (26th fiscal period) / Management's analysis of financial position, results and cash flows · Annual Securities Report (26th fiscal period) / Business risks

Where the money goes

FY ending Mar 2025 → FY ending Mar 2026

Where ¥100 of sales goes

For every ¥100 M3 sells, how much goes where, and how much is kept.

FY ending Mar 2026

Cost of sales: ¥50
SG&A: ¥30
Other costs: ¥1
Operating profit: ¥21
Net profit kept: ¥14

Annual margin trends

Gross margin50.0%

Operating margin20.9%

Net margin14.0%

Aligned fiscal years compare the shares of revenue remaining as gross, core, and net profit. Missing years are left unconnected.

Which businesses earn the money

Revenue by business segment, and the profit each one keeps.

FY ending Mar 2026

Medical Platform¥104B
30%
Op. margin 34.5%Industry: Health Tech
Overseas¥86.9B
25%
Op. margin 17.1%Industry: Health Tech
Patient Solution¥56.9B
16%
Op. margin 4.7%Industry: Hospitals & Medical Services
Site Solution¥54.3B
15%
Op. margin 10.6%Industry: Nursing Care
Evidence Solution¥24.4B
7%
Op. margin 21.0%Industry: CRO & Clinical Testing
Career Solution¥22.7B
6%
Op. margin 26.1%Industry: HR & Staffing
Other Emerging Business¥2.12B
1%
Op. margin 230.5%

Profit by segment

※ Segment figures include inter-segment sales and do not sum to the company total

Sources

Show source documents (6)

EDINET (FSA Japan)
有価証券報告書－第26期(2025/04/01－2026/03/31)
ID S100YJ252026-06-25Open
EDINET (FSA Japan)
有価証券報告書－第25期(2024/04/01－2025/03/31)
ID S100W3NK2025-06-25Open
EDINET (FSA Japan)
有価証券報告書－第24期(2023/04/01－2024/03/31)
ID S100TVWH2024-06-27Open
EDINET (FSA Japan)
有価証券報告書－第23期(2022/04/01－2023/03/31)
ID S100R87E2023-06-29Open
EDINET (FSA Japan)
有価証券報告書－第22期(令和3年4月1日－令和4年3月31日)
ID S100OJCD2022-06-29Open
EDINET (FSA Japan)
有価証券報告書－第21期(令和2年4月1日－令和3年3月31日)
ID S100LS8W2021-06-28Open

Extracted from XBRL: 44 / Derived from other figures: 1

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