#business_update

In fiscal 2025, treasury stock acquisition amounted to 1,199 million yen, and the policy for reducing strategic shareholdings is set to below 20% of net assets by fiscal 2030. ROE remains above 8%, with dividend forecast for fiscal 2026 at 54 yen (payout ratio of 31.2%).

Nexera Pharma has received a $3.6 million (approximately ¥565 million) milestone from Centessa and plans to record it as revenue in the fourth quarter of the fiscal year ending December 2025.

Cullgen will participate in the 44th J.P. Morgan Healthcare Conference held from January 12, 2026, presenting development progress including the planned start of Phase 2 clinical trials for the new non-opioid analgesic CG001419 in Q2 2026.