Industry map/Consumer & Public Services
Hospitals & Medical Services industry map
Who earns the money in Hospitals & Medical Services, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 19 companies · ¥638.4B
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥638.4B
- Companies
- 19
- Avg. salary（parent only）
- ¥6.7M
- Industry weather
- Sunny
YoY +13.1%
Avg. age 40.4
Operating income +11.1%
Ship Healthcare Holdings[3360]
Total pack produce
- Revenue
- ¥136.6B▲2.6%
- Operating income
- ¥10.8B▼10.0%
Margin 7.9%
Whole company: Revenue ¥718.2B · Net income ¥13.4B
Avg. salary ¥8.5M · 46.4（parent only）
M3[2413]
Patient Solution + 1 more
- Revenue
- ¥111.2B▲61.3%
- Operating income
- ¥8.45B▲35.3%
Margin 7.6%
Whole company: Revenue ¥351.4B · Net income ¥49.1B
Avg. salary ¥9.8M · 34.8（parent only）
Elan[6099]
- Revenue
- ¥55.4B▲16.7%
- Operating income
- ¥4.27B▲19.5%
Margin 7.7%
Avg. salary ¥5.3M · 35.0（parent only）
- M3 owns 55.0%
CUC[9158]
Medical Institution + 2 more
- Revenue
- ¥46.5B▲7.2%
- Operating income
- ¥6.95B▲19.4%
Margin 14.9%
Whole company: Revenue ¥54.4B · Net income ¥2.85B
Avg. salary ¥6.7M · 39.7（parent only）
- M3 owns 63.4%
Secom[9735]
Medical services
- Revenue
- ¥92.1B▲6.8%
- Operating income
- ¥6.24B▲15.6%
Margin 6.8%
Whole company: Revenue ¥1.26T · Net income ¥112.7B
Avg. salary ¥6.7M · 44.5（parent only）
Tokai[9729]
Healthy life service
- Revenue
- ¥81.8B▲6.3%
- Operating income
- ¥8.55B▲19.9%
Margin 10.4%
Whole company: Revenue ¥159.7B · Net income ¥6.07B
Avg. salary ¥5.5M · 41.3（parent only）
Resorttrust[4681]
Medical
- Revenue
- ¥55.9B▲9.5%
- Operating income
- ¥8.29B▲10.5%
Margin 14.8%
Whole company: Revenue ¥263B · Net income ¥20.9B
Avg. salary ¥6.6M · 36.2（parent only）
H.U. Group Holdings[4544]
Sterilization and related services
- Revenue
- ¥29.3B▼0.6%
- Operating income
- ¥1.76B▼1.0%
Margin 6.0%
Whole company: Revenue ¥247.4B · Net income ¥6.82B
Avg. salary ¥8.1M · 43.2（parent only）
Eucalia[286A]
Comprehensive medical management support business
- Revenue
- ¥7.73B▲21.4%
- Operating income
- ¥2.45B▼12.7%
Margin 31.7%
Whole company: Revenue ¥24.7B · Net income ¥2.78B
Avg. salary ¥7.5M · 39.7（parent only）
Fureasu[7062]
MassageDirect + 1 more
- Revenue
- ¥6.49B▼0.5%
- Operating income
- ¥969.9M▲52.9%
Margin 14.9%
Whole company: Revenue ¥7.64B · Net income ¥508.9M
Avg. salary ¥4.2M · 44.4（parent only）
Medical Net[3645]
Medical institution management support
- Revenue
- ¥4.42B▲14.3%
- Operating income
- ¥190M▲1.1%
Margin 4.3%
Whole company: Revenue ¥6.08B · Net income -¥68.1M
Avg. salary ¥5.2M · 36.3（parent only）
Artra Group[6029]
A-COMS Business
- Revenue
- ¥2.36B▼3.7%
- Operating income
- ¥163.9M▲312.4%
Margin 7.0%
Whole company: Revenue ¥3.93B · Net income ¥258.3M
Avg. salary ¥4.8M · 40.4（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: GLOME Holdings · Ligua · IPS · JSH · Leoclan · Soiken Holdings · TRUST Holdings
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Ship Healthcare HoldingsTotal pack produce | ¥136.6B | 21.4% | 7.9% | +8.2% | ¥17.4B |
| 2▲2 | M3Patient Solution + 1 more | ¥111.2B | 17.4% | 7.6% | — | ¥58.3B |
| 3▼1 | SecomMedical services | ¥92.1B | 14.4% | 6.8% | +5.4% | ¥113B |
| 4▼1 | TokaiHealthy life service | ¥81.8B | 12.8% | 10.4% | +6.5% | ¥7.37B |
| 5 | ResorttrustMedical | ¥55.9B | 8.8% | 14.8% | +7.1% | ¥30.5B |
| 6 | Elan | ¥55.4B | 8.7% | 7.7% | +15.1% | ¥3.15B |
| 7 | CUCMedical Institution + 2 more | ¥46.5B | 7.3% | 14.9% | — | -¥912M |
| 8 | H.U. Group HoldingsSterilization and related services | ¥29.3B | 4.6% | 6.0% | +0.6% | ¥16.7B |
| 9▲1 | EucaliaComprehensive medical management support business | ¥7.73B | 1.2% | 31.7% | +19.6% | -¥2.8B |
| 10▼1 | FureasuMassageDirect + 1 more | ¥6.49B | 1.0% | 14.9% | +19.4% | ¥564.5M |
| 11 | Medical NetMedical institution management support | ¥4.42B | 0.7% | 4.3% | +23.9% | -¥212.4M |
| 12 | Artra GroupA-COMS Business | ¥2.36B | 0.4% | 7.0% | — | ¥197M |
| 13 | GLOME HoldingsHospital - related business | ¥1.87B | 0.3% | 17.1% | -2.6% | -¥239M |
| 14 | LiguaWellness Services Segments | ¥1.77B | 0.3% | -2.1% | — | ¥253.6M |
| 15 | IPSMedical Healthcare Business | ¥1.65B | 0.3% | 4.9% | +7.3% | -¥2.49B |
| 16 | JSHHome care medicine business | ¥1.44B | 0.2% | -13.6% | — | -¥641.9M |
| 17 | LeoclanRemote image diagnosis service business | ¥822.3M | 0.1% | 8.4% | +6.2% | -¥168.8M |
| 18 | Soiken HoldingsHealth care support service | ¥688.3M | 0.1% | 15.5% | +11.1% | ¥520.5M |
| 19 | TRUST Holdingsmedical | ¥277.3M | 0.0% | 30.0% | +6.4% | -¥1.02B |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- IPS422632
- M3503021
- Secom681913
- Resorttrust226711
- CUC534011
- Eucalia573310
- Elan78148
- Tokai7618
- Fureasu5442
- TRUST Holdings8115
- Ship Healthcare Holdings91
- Artra Group6631
- H.U. Group Holdings7127
- Medical Net6831
- Leoclan8712
- GLOME Holdings5646loss ¥2
- JSH7032loss ¥2
- Soiken Holdings5053loss ¥3
- Ligua4164loss ¥5
Ownership links
From the major-shareholder section of annual securities reports.
- M3In industry
- ソニーグループ株式会社Outside
- AffiliateM334.5%
- 松井証券株式会社Outside
- StakeGLOME Holdings4.7%
- 東京センチュリー株式会社Outside
- StakeJSH3.2%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Hospitals & Medical Services (by revenue)
All 19 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Ship Healthcare Holdings¥136.6B · 7.9%
- M3¥111.2B · 7.6%
- Secom¥92.1B · 6.8%
- Tokai¥81.8B · 10.4%
- Resorttrust¥55.9B · 14.8%
- Elan¥55.4B · 7.7%
- CUC¥46.5B · 14.9%
- H.U. Group Holdings¥29.3B · 6.0%
- Eucalia¥7.73B · 31.7%
- Fureasu¥6.49B · 14.9%
- Medical Net¥5.2B · 2.4%
- Artra Group¥2.36B · 7.0%
- GLOME Holdings¥1.87B · 17.1%
- Ligua¥1.77B · -2.1%
- IPS¥1.65B · 4.9%
- JSH¥1.44B · -13.6%
- Leoclan¥822.3M · 8.4%
- Soiken Holdings¥786.7M · 20.4%
- TRUST Holdings¥277.3M · 30.0%
Revenue · Op. margin
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