Company profile

D.Western Therapeutics Institute, Inc.

EDINET
E22024
Securities
4576
Industry
Pharmaceutical
Latest annual securities report
2026-03-23 Annual Securities Report PDF HTML
Latest financial report
2026-08-13 Semiannual Securities Report PDF HTML
Latest filing
2026-09-14 Securities Registration Statement PDF HTML
Compare this company

Industry position

Pharmaceutical

View details
Profitability Average Current Bottom 50% 5-year trend Broadly stable
Financial strength Below average Based on Equity ratio Current Bottom 44% 5-year trend Deteriorating
Growth Below average Current Bottom 42% 5-year trend Deteriorating
Cash generation Above average Current Top 43% 5-year trend Broadly stable

Latest half-year results

H1 FY2026

2026/01/01 - 2026/06/30

Standalone · Japanese GAAP · Cumulative YTD

For H1 FY2026, revenue was ¥33.14 million, down 80.9% year over year. Operating income was -¥312.95 million, down 1.3% year over year. Net income was -¥323.11 million, down 2.0% year over year.

Revenue ¥33.14M down 80.9% year over year
Operating income -¥312.95M down 1.3% year over year
Net income -¥323.11M down 2.0% year over year
Operating cash flow -¥343.95M
Free cash flow -¥945.61M
Total assets ¥2.05B

Half-year trend

Half-year financial trend

H1 values are cumulative year-to-date.

H2 values are calculated when comparable.

Standalone · Japanese GAAP · Cumulative YTD

Mode

Half-year financial data

Annual key financial indicators

FY2025

Standalone Japanese GAAP

Revenue reached ¥387.6 million, down 17.5% year over year. Operating income was -¥566.63 million, up 51.4% year over year. Operating margin was -146.2%. Net income was -¥632.09 million, up 51.0% year over year. ROE was -45.2%; equity ratio was 65.6%; free cash flow was -¥496.24 million.

Revenue ¥387.6M down 17.5% year over year
Operating income -¥566.63M up 51.4% year over year
Net income -¥632.09M up 51.0% year over year
Total assets¥2.13B
Total equity—
Operating cash flow-¥493.79M
Free cash flow-¥496.24M

Industry position details

Pharmaceutical

Annual data for the same fiscal year and industry

Comparison sample varies by metric

Profitability Average

Operating margin Top 50% / ROE Bottom 60%

Financial strength Below average
Based on Equity ratio

Equity ratio Bottom 60%

Growth Below average

Revenue growth Bottom 72% / 3-year revenue CAGR Bottom 55%

Cash generation Above average

Operating cash flow margin Top 48% / Free cash flow margin Top 48%

Profitability Industry position history Broadly stable
2025 Bottom 25% 2024 Bottom 16% 2023 Bottom 19% 2022 Bottom 29% 2021 Bottom 34%
Financial strength Industry position history Deteriorating
2025 Bottom 50% 2024 Bottom 11% 2023 Bottom 23% 2022 Bottom 38% 2021 Top 33%
Growth Industry position history Deteriorating
2025 Bottom 22% 2024 Top 44% 2023 Top 46% 2022 Bottom 21% 2021 Top 25%
Cash generation Industry position history Broadly stable
2025 Bottom 25% 2024 Bottom 20% 2023 Bottom 22% 2022 Bottom 22% 2021 Bottom 25%
Profitability Operating margin -146.2% Industry median -155.7% Top 50% Comparison sample 20
Profitability ROE -45.2% Industry median -29.2% Bottom 60% Comparison sample 32
Financial strength Equity ratio 65.6% Industry median 71.4% Bottom 60% Comparison sample 32
Growth Revenue growth -17.5% Industry median -1.5% Bottom 72% Comparison sample 21
Growth 3-year revenue CAGR -2.0% Industry median -1.0% Bottom 55% Comparison sample 20
Cash generation Operating cash flow margin -127.4% Industry median -157.8% Top 48% Comparison sample 21
Cash generation Free cash flow margin -128.0% Industry median -167.1% Top 48% Comparison sample 21

Annual financial data

Fiscal year Scope Accounting standard Revenue Operating income Ordinary income Profit before tax Net income Profit attributable to owners of parent Comprehensive income Total assets Total liabilities Net assets Shareholders' equity Equity Equity attributable to owners of parent Equity for ratio Operating cash flow Investing cash flow Financing cash flow Free cash flow Cash and cash equivalents Basic EPS P/E Share price Market cap Book value per share Dividend per share Shares issued Equity ratio Official equity ratio ROE ROA Operating margin Ordinary income margin Net margin Operating cash flow margin Free cash flow margin Dividend payout ratio Revenue YoY Operating income YoY Ordinary income YoY Profit before tax YoY Net income YoY Total assets YoY Equity YoY Operating cash flow YoY Investing cash flow YoY Financing cash flow YoY Free cash flow YoY Cash and cash equivalents YoY EPS YoY Dividend per share YoY Shares issued YoY Employees YoY Average salary YoY Employees Average salary
FY2025 Standalone Japanese GAAP 387595000 -566630000 -571498000 -632087000 -632087000 -632087000 2128784000 731143000 1397640000 1396901000 1397640000 -493794000 -2447000 1080014000 -496241000 1709790000 -12.99 25.75 54251712 0.6565438297 0.656 -0.4522530838 -0.2969239716 -1.4619125634 -1.4744720649 -1.6307924509 -1.2739947626 -1.2803080535 -0.1751946596 0.5144995523 0.5149673206 0.5101259005 0.3177612499 1.0360434643 0.6199005787 0.7554222889 0.9026792195 0.6209363062 0.5184163903 0.6595019659 0.3033284011 0.0 -0.002244501 19 6668000
FY2024 Standalone Japanese GAAP 469923000 -1167105000 -1178267000 -1290305000 -1290305000 -1290303000 1615455000 929005000 686449000 684695000 686449000 -1299118000 -10005000 567628000 -1309123000 1126035000 -38.15 16.45 41625512 0.4249261044 0.424 -1.879680792 -0.7987254365 -2.4836090168 -2.5073618444 -2.7457796277 -2.764533764 -2.7858244861 0.0980330305 -0.586848696 -0.6170437313 -0.5882416659 -0.3188786546 -0.4645049208 -1.2138232953 0.3441064639 3.2213496349 -1.1743520326 -0.3969599371 -0.4208566108 0.2956143069 0.0 -0.0113905325 19 6683000
FY2023 Standalone Japanese GAAP 427968000 -735486000 -728655000 -812411000 -812411000 -828212000 2371758000 1089862000 1281896000 1281233000 1281896000 -586821000 -15254000 134466000 -602075000 1867264000 -26.85 39.88 32128012 0.5404834726 0.54 -0.6337573407 -0.3425353683 -1.7185537236 -1.7025922499 -1.8982984709 -1.3711796209 -1.4068224727 0.0398021313 -1.8840665524 -2.0194304705 -0.8907129641 -0.2022767703 -0.3254645174 -0.6540885644 0.8909571806 -0.8449596851 -0.217149153 -0.2002014848 -1.0574712644 0.0407135623 0.1176470588 0.1085601837 19 6760000
FY2022 Standalone Japanese GAAP 411586000 -255017000 -241322000 -429685000 -429685000 -442085000 2973159000 1072745000 1900413000 1899692000 1900413000 -354770000 -139890000 867297000 -494660000 2334668000 -13.05 61.53 30871138 0.6391898314 0.639 -0.2261008528 -0.144521366 -0.6195959046 -0.5863221781 -1.0439737989 -0.8619583756 -1.2018387409 -0.0012981624 -3.4786182189 -5.1809287196 -1.8838887211 0.2248938008 -0.0530953565 -1.0122400826 -0.2585695007 9.3027503614 -0.720819882 0.2073310673 -0.5895249695 0.0515194185 0.0625 0.0636664922 17 6098000
FY2021 Standalone Japanese GAAP 412121000 -56941000 -39043000 -148995000 -148995000 -161306000 2427279000 420305000 2006974000 2004282000 2006974000 -176306000 -111150000 -104459000 -287456000 1933743000 -8.21 68.27 29358600 0.8268410842 0.826 -0.0742386299 -0.0613835492 -0.1381657329 -0.0947367399 -0.3615321714 -0.4278015437 -0.6975038884 0.2319697957 0.682512866 0.8057078875 0.4603663837 -0.1271154319 -0.0939889201 0.1848403026 -7.2547344968 -1.1040297732 -0.2511741074 -0.1622326391 -0.1049798116 0.0036750755 0.2307692308 0.1862197393 16 5733000
FY2020 Standalone Japanese GAAP 334522000 -179349000 -200950000 -276104000 -276104000 -291123000 2780756000 565580000 2215176000 2212417000 2215176000 -216284000 -13465000 1004126000 -229749000 2308210000 -7.43 75.64 29251100 0.7966092674 0.796 -0.1246420149 -0.0992909842 -0.5361351421 -0.6007078757 -0.8253687351 -0.6465464155 -0.6867978788 -0.3906969459 -2.0127962594 -2.163928919 -3.072806168 0.4391269876 0.6167303333 -2.2313280312 0.86535 9.3677166667 -4.0369591942 0.498075006 -2.1378254211 0.1132588905 -0.0714285714 -0.0192775974 13 4833000
FY2019 Standalone Japanese GAAP 549024000 177083000 172648000 133203000 133203000 107982000 1932252000 562093000 1370158000 1370158000 1370158000 175651000 -100000000 -120000000 75651000 1540784000 6.53 99.4 649.082 17054759366.400 52.15 26275200 0.7090990202 0.709 0.0972172552 0.0689366604 0.3225414554 0.3144634843 0.2426178091 0.3199331905 0.1377917905 0.8969080714 1.2699687014 1.259121902 1.1778491948 -0.0168037466 0.143240722 1.3250791641 -11.8617363344 1.1380220686 -0.0274559706 1.1767731456 0.0 14 4928000
FY2018 Standalone Japanese GAAP 289431000 -655939000 -666281000 -748966000 -748966000 -803636000 1965276000 766789000 1198486000 1198486000 1198486000 -540333000 -7775000 -548108000 1584282000 -36.94 45.61 0.6098308838 0.61 -0.6249267826 -0.3810996522 -2.2663052679 -2.3020374459 -2.5877186618 -1.8668801891 -1.893743241 0.1781148112 -0.2528296337 -0.19419322 0.5209674211 -0.3305763082 -0.445401872 0.3222242431 0.9898116031 0.6487248276 -0.2571392668 0.3554353516 0.0 14
FY2017 Standalone Japanese GAAP 245673000 -523566000 -557934000 -1563497000 -1563497000 -1607683000 2935773000 774773000 2160999000 2159342000 2160999000 -797215000 -763123000 1406969000 -1560338000 2132677000 -57.31 82.23 0.7360919935 0.736 -0.7235065819 -0.5325674022 -2.1311499432 -2.271043216 -6.3641385093 -3.2450248908 -6.3512799534 0.6696320561 -1.7284125611 -2.2149981849 -5.1673004252 0.0274935269 -0.2366146085 -1.390034117 -2.306468455 0.319193802 -1.7648164719 -0.0694858578 -6.9486823856 0.1666666667 14
FY2016 Standalone Japanese GAAP 147142000 -191894000 -173541000 -253514000 -253514000 -306223000 2857218000 26407000 2830810000 2815195000 2830810000 -333558000 -230797000 1066537000 -564355000 2291934000 -7.21 113.71 0.9907574431 0.985 -0.0895552863 -0.0887275665 -1.3041415775 -1.1794117247 -1.722920716 -2.2669122344 -3.8354446725 12

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Source data: Financial Services Agency EDINET / Data organization, aggregation, and metric calculations: bestforever.jp