Nippon Investment Bespoke Research UK Ltd

Nippon Investment Bespoke Research UK

We provide sponsored research reports on up to 15 Japanese listed companies that have no coverage by sell side analysts or are very thinly covered.

Equity Bottom-Up

<ul><li>FY25 1H results summary Medical Data Vision [MDV] reported FY25 1H (Dec year-end) results with sales coming in largely in line with the firm’s guidance while reporting an operating loss in Q2, on higher costs [COGS and personnel] incurred to boost sales in 2H.</li><li>MDV produced 1H gross profit [GP] of ¥2,126mil (+3.2% YoY) and an operating loss of -¥5mil (vs FY24 1H OP of ¥26mil) on sales of ¥3,034mil (+9.1% YoY).</li><li>The topline increase was achieved thanks to improved sales in the Data Utilisation segment.</li></ul>

FY25 1H results summary Medical Data Vision [MDV] reported FY25 1H (Dec year-end) results with sales coming in largely in line with the firm’s guidance while reporting an operating loss in Q2, on higher costs [COGS and personnel] incurred to boost sales in 2H.MDV produced 1H gross profit [GP] of ¥2,126mil (+3.2% YoY) and an operating loss of -¥5mil (vs FY24 1H OP of ¥26mil) on sales of ¥3,034mil (+9.1% YoY).The topline increase was achieved thanks to improved sales in the Data Utilisation segment.

Medical Data Vision Co., Ltd (3902 JP): Research Update