# PRISM BioLab: business model and financials

> Latest period: FY ending Sep 2025, non-consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第14期(2024/10/01－2025/09/30) (S100XCIN)
> Page: https://vizora.meequs.com/en/company/prism-biolab
> Retrieved: 2026-09-30T21:00:52.286Z

## Company

PRISM BioLab, founded in 2006, is a company in Biotech & Regenerative Medicine listed on TSE Growth. It has 35 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | PRISM BioLab Co.,LTD |
| Ticker | 206A |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/206A.T) |
| Listing | TSE Growth |
| Head office | 神奈川県藤沢市村岡東二丁目26番の1 |
| Representative (per filing) | 代表取締役 竹原 大 |
| Founded | Nov 2006 |
| Share capital | ¥1.73B |
| Employees (consolidated) | 35 |
| Average salary (parent only) | ¥9.5M |
| Fiscal year end | September |
| Website | ir.prismbiolab.com (https://ir.prismbiolab.com/) |
| Corporate number | 6020001095131 |
| EDINET | E39751 |
| Industries (Vizora) | Biotech & Regenerative Medicine |

> Profile source: annual securities report (S100XCIN, filed 2025-12-24). As of filing

## Key points (generated from figures)

- PRISM BioLab brought in ¥677.3M in revenue.
- It lost about ¥114 for every ¥100 of sales at the operating level.
- Revenue changed +121.6% from the prior year.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥677.3M |  |
| Operating income | -¥774.5M | Margin -114.3% |
| Net income | -¥833.7M | Margin -123.1% |
| Free cash flow | -¥1.54B |  |
| Employees (consolidated) | 35 |  |
| EPS | ¥-22.82 |  |
| Book value per share | ¥73.4 |  |
| Equity ratio | 87.6% |  |
| Shares outstanding | 36,810,000 |  |
| Shareholders | 4,995 |  |
| Average salary (parent only) | ¥9.5M | Filing company only |
| Cash ratio | 94.5% | Cash ÷ revenue 430.5% |
| Vs. industry median margin | -121.4 pp | Biotech & Regenerative Medicine |
| ROA | -21.9% | Derived from disclosed figures |

## Notable figures

- FY2025, operating loss is 114 per ¥100 of revenue
- FY2025, cash is 94% of total assets

## What changed in 2 years

| Metric | FY ending Sep 2023 | FY ending Sep 2025 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥112926000 | ¥677330000 | +499.8% |
| Operating income | ¥-496868000 | ¥-774453000 | — |
| Operating margin | -440.0% | -114.3% | +325.7 pp |
| Employees | 17 people | 35 people | +105.9% |
| Cash and equivalents | ¥1133943000 | ¥2915572000 | +157.1% |

### Change in segment revenue mix

Span: FY ending Sep 2023 → FY ending Sep 2025. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

## Income statement（FY ending Sep 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 677 | 100.0% | S100XCIN |
| Cost of revenue | 408 | 60.2% | S100XCIN |
| Gross profit | 270 | 39.8% | S100XCIN |
| SG&A | 1,044 | 154.2% | S100XCIN |
| Operating income | -774 | -114.3% | S100XCIN |
| Ordinary income | -748 | -110.5% | S100XCIN |
| Pretax income | -831 | -122.7% | S100XCIN |
| Income tax | 2 | 0.4% | S100XCIN |
| Net income | -834 | -123.1% | S100XCIN |

## Per ¥100 of revenue（FY ending Sep 2025）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 60 |
| SG&A | 154 |
| Operating income | -114 |
| (Ref.) Net income | -123 |

### Margin funnel

Gross margin 39.8% → Operating margin -114.3% → Net margin -123.1%
Derived from reported figures (DERIVED).

## Year over year（FY ending Sep 2024 → FY ending Sep 2025、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 306 | 677 | 372 | +121.6% |
| Gross profit | 161 | 270 | 109 | +68.0% |
| Operating income | -782 | -774 | 8 | — |
| Operating cash flow | 150 | -1,468 | -1,619 | -1078.0% |
| Free cash flow | -62 | -1,536 | -1,474 | — |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Sep 2023 | 113 | -497 | -440.0% | -527 | -514 | -548 | S100V11F |
| FY ending Sep 2024 | 306 | -782 | -256.0% | -1,050 | 150 | -62 | S100XCIN |
| FY ending Sep 2025 | 677 | -774 | -114.3% | -834 | -1,468 | -1,536 | S100XCIN |

## People and productivity（FY ending Sep 2025, non-consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥19.4M |
| Operating income per employee (consolidated) | -¥22.1M |
| Net income per employee (consolidated) | -¥23.8M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: |
| Employees (consolidated) | 17 | 27 | 35 |
| Average salary (parent company) | — | ¥9M | ¥9.5M |
| Average age (parent company) | — | 43.7 years | 45.0 years |
| Average tenure (parent company) | — | 1.4 years | 2.0 years |

Year over year: Employees (consolidated) +29.6% · Revenue (consolidated) +121.6%

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Sep 2025, non-consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | -1,468 | -216.8% | S100XCIN |
| Capital expenditure | 68 | 10.0% | S100XCIN |
| Free cash flow | -1,536 | -226.8% | 算出 |
| Investing cash flow | -69 | -10.2% | S100XCIN |
| Financing cash flow | 34 | 5.0% | S100XCIN |
| Change in cash | -1,476 | -218.0% | S100XCIN |
| Cash and equivalents | 2,916 | 430.5% | S100XCIN |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 | Source |
| --- | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,134 | 4,392 | 2,916 | S100XCIN |
| Total assets | 1,211 | 4,529 | 3,086 | S100V11F, S100XCIN |
| Net assets | 1,148 | 3,503 | 2,709 | S100XCIN |
| Share capital | 12 | 1,714 | 1,731 | S100V11F, S100XCIN |
| Property, plant and equipment | 0 | 0 | 0 | S100V11F, S100XCIN |
| Current assets | 1,198 | 4,483 | 3,039 | S100V11F, S100XCIN |
| Current liabilities | 63 | 1,020 | 370 | S100V11F, S100XCIN |
| Total liabilities | 63 | 1,026 | 377 | S100V11F, S100XCIN |
| Equity attributable to owners of parent | 1,148 | 3,502 | 2,702 | S100V11F, S100XCIN |
| Retained earnings | -493 | -1,543 | -2,376 | S100V11F, S100XCIN |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 94% | S100XCIN |
| Other assets | 6% | S100XCIN |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Other liabilities | 12% | S100XCIN |
| Equity | 88% | S100XCIN |

### Balance sheet history

| Metric | FY ending Sep 2023 | FY ending Sep 2024 | FY ending Sep 2025 |
| --- | ---: | ---: | ---: |
| Total assets | 1,211 | 4,529 | 3,086 |
| Equity | 1,148 | 3,503 | 2,709 |
| Interest-bearing debt | — | — | — |
| Cash | 1,134 | 4,392 | 2,916 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 0.0% | S100XCIN |
| Fixed assets ÷ total assets | 0.0% | S100XCIN |
| Goodwill ÷ parent equity | — | —, S100XCIN |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 94.5% |
| Cash ÷ revenue | 430.5% |
| Net cash (cash − interest-bearing debt) | — |
| Net debt ÷ operating cash flow | — |
| Cash conversion (operating CF ÷ operating income) | — |
| Cash vs. profit gap | -635 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 10.0% |
| Investing CF relative to operating CF | — |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2023 | — | —× | -43.5% | —× | — | S100V11F |
| 2024 | — | —× | -36.6% | —× | — | S100XCIN |
| 2025 | — | —× | -21.9% | —× | — | S100XCIN |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| DBJキャピタル投資事業有限責任組合 | Major shareholder | 15.8% | 2025-09-30 |
| ＷＭグロース３号投資事業有限責任組合 | Major shareholder | 10.0% | 2025-09-30 |
| 大和日台バイオベンチャー２号投資事業有限責任組合 | Major shareholder | 9.8% | 2025-09-30 |
| ＪＰＬＬＣ ＣＬＩＥＮＴ ＡＳＳＥＴＳ－ＳＫ Ｊ(常任代理人 シティバンク、エヌ・エイ東京支店 | Major shareholder | 6.8% | 2025-09-30 |
| 中島 喜一郎 | Major shareholder | 5.1% | 2025-09-30 |
| ｓａｎｔｅｃ Ｈｏｌｄｉｎｇｓ株式会社 | Major shareholder | 3.4% | 2025-09-30 |
| 竹原 大 | Major shareholder | 3.2% | 2025-09-30 |
| 大原薬品工業株式会社 | Major shareholder | 2.7% | 2025-09-30 |
| Ｎｅｗｔｏｎ Ｂｉｏｃａｐｉｔａｌ Ｉ ＳＡ， Ｐｒｉｃａｆ ｐｒｉｖｅｅ ｄｅ ｄｒｏｉｔ ｂｅｌｇｅ(常任代理人 三田証券株式会社) | Major shareholder | 2.7% | 2025-09-30 |
| 竹田 英樹 | Major shareholder | 2.5% | 2025-09-30 |

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第14期(2024/10/01－2025/09/30) | S100XCIN | 2025-12-24 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XCIN,, |
| 有価証券報告書－第13期(2023/10/01－2024/09/30) | S100V11F | 2024-12-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100V11F,, |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).