Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

Paramount Bed Holdings Co Lt / Equity Bottom-Up

<ul>
<li>During 9MFY25, <a href="https://www.smartkarma.com/entities/paramount-bed-holdings-co-lt" target="_blank" data-smartkarma-citation="entities:17808:1" rel="noopener">Paramount Bed Holdings Co Lt (7817 JP)</a> reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.</li>
<li>Due to higher SG&amp;A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.</li>
<li>Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&amp;A is expected to erode operating profit by almost 6% YoY.</li>
</ul>


During 9MFY25, Paramount Bed Holdings Co Lt (7817 JP) reported 3% YoY revenue growth to ¥75B, mainly driven by the nursing care businesses.
Due to higher SG&amp;A expenses, operating profit decreased 15% YoY to ¥7.2B and net profit was down 11% YoY to ¥5.9B.
Paramount Bed has reiterated FY25 guidance, which calls for 2% YoY revenue growth, while higher SG&amp;A is expected to erode operating profit by almost 6% YoY.


Paramount Bed Holdings (7817 JP): Guidance Reaffirmed, But Sluggishness To Stay Amid Falling Margins

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<ul><li>Cumulative Q3 revenue increased by 2.8% YoY to JPY75.1bn, while operating profit decreased by 15.2% YoY.</li><li>Domestic revenue rose 3.0% YoY, driven by a 7.9% YoY increase in the nursing care business.</li><li>SG&A expenses rose 9.2% YoY, impacting profit margins; net income attributable to owners declined by 10.7% YoY.</li></ul>

Cumulative Q3 revenue increased by 2.8% YoY to JPY75.1bn, while operating profit decreased by 15.2% YoY.Domestic revenue rose 3.0% YoY, driven by a 7.9% YoY increase in the nursing care business.SG&A expenses rose 9.2% YoY, impacting profit margins; net income attributable to owners declined by 10.7% YoY.

Paramount Bed Holdings Co Lt (7817 JP): Q3 FY03/25 flash update

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mani-inc" target="_blank" data-smartkarma-citation="entities:6534:1" rel="noopener">Mani Inc (7730 JP)</a> Q1FY25 revenue rose 8% YoY, mainly driven by surgical and eyeless needles segments, and favorable foreign exchange. However, profitability declined year-over-year.</li>
<li>Despite the underperformance of dental segment, management reiterated FY25 guidance. Dental segment contributes more than 30% of total revenue.</li>
<li>Mani shares plunged 20% since it published its Q1 results. Investors should avoid Mani due to its uncertain revenue outlook and deteriorating profitability in short-term.</li>
</ul>



Mani Inc (7730 JP) Q1FY25 revenue rose 8% YoY, mainly driven by surgical and eyeless needles segments, and favorable foreign exchange. However, profitability declined year-over-year.
Despite the underperformance of dental segment, management reiterated FY25 guidance. Dental segment contributes more than 30% of total revenue.
Mani shares plunged 20% since it published its Q1 results. Investors should avoid Mani due to its uncertain revenue outlook and deteriorating profitability in short-term.


Mani Inc (7730 JP): Dental Loosing Shine In China; Margins Eroding; FY25 Guidance Reiterated

<ul><li>The company reported a revenue of JPY48.7bn, operating profit of JPY4.1bn, and net income of JPY2.3bn.</li><li>Domestic revenue was JPY43.8bn, with medical care business revenue at JPY17.9bn and nursing care business revenue at JPY29.1bn.</li><li>The full-year forecast was revised down to JPY108.0bn revenue, JPY13.0bn operating profit, and JPY8.5bn net income.</li></ul>

The company reported a revenue of JPY48.7bn, operating profit of JPY4.1bn, and net income of JPY2.3bn.Domestic revenue was JPY43.8bn, with medical care business revenue at JPY17.9bn and nursing care business revenue at JPY29.1bn.The full-year forecast was revised down to JPY108.0bn revenue, JPY13.0bn operating profit, and JPY8.5bn net income.

Paramount Bed Holdings Co Lt (7817 JP): 1H FY03/25 flash update

<ul><li>Revenue: JPY23.1bn (-4.8% YoY), Operating profit: JPY1.6bn (-51.1% YoY), Recurring profit: JPY2.1bn (-48.9% YoY).</li><li>Domestic revenue: JPY20.9bn (-4.0% YoY), Overseas revenue: JPY2.2bn (-11.9% YoY), Medical care business revenue: JPY7.9bn (-13.6% YoY).</li><li>Nursing care business revenue: JPY14.3bn (+2.5% YoY), Health promotion business revenue: JPY2.2bn (-12.2% YoY).</li></ul>

Revenue: JPY23.1bn (-4.8% YoY), Operating profit: JPY1.6bn (-51.1% YoY), Recurring profit: JPY2.1bn (-48.9% YoY).Domestic revenue: JPY20.9bn (-4.0% YoY), Overseas revenue: JPY2.2bn (-11.9% YoY), Medical care business revenue: JPY7.9bn (-13.6% YoY).Nursing care business revenue: JPY14.3bn (+2.5% YoY), Health promotion business revenue: JPY2.2bn (-12.2% YoY).

Paramount Bed Holdings Co Lt (7817 JP): Q1 FY03/25 flash update

Japan

Paramount Bed Holdings Company Ltd. operates as a holding company. The Company, through its subsidiaries, designs and manufactures hospital, medical, electric, motorized, and orthopedic beds.

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Paramount Bed Holdings Co Lt (7817 JP)

Paramount Bed Holdings (7817 JP): Guidance Reaffirmed, But Sluggishness To Stay Amid Falling Margins

In 9MFY25, Paramount Bed reported 3% YoY revenue growth driven by nursing care, but higher expenses eroded profits. The company reiterated FY25...

Tina Banerjee