Full Year Financial Results Presentation for the Fiscal Year Ending December 2025

Overview of Performance

For the full year ended December 2025, revenue reached 17,314 million yen (up 9.3% YoY), contributed by strong sales of the flagship product Iceuili, achieving record-high monthly sales (December) as well as quarterly and cumulative sales. Meanwhile, operating income was 3,213 million yen (down 19.7% YoY). The pharmaceutical segment continued to post operating losses, particularly impacted by increased R&D expenses and listing preparation costs associated with clinical trial progress in Australia.

Business Composition and Future Outlook

As a global biopharmaceutical company, it operates three businesses: pharmaceuticals, drug discovery, and medical devices. It is expanding its operations mainly in China and the U.S., with plans to make Gyre Therapeutics a wholly owned subsidiary of Cullgen in early Q2 2026. Although the Japan headquarters remains in deficit, efforts are focused on establishing a stable earnings base and diversifying profit sources away from U.S. and China. Priority is given to preparing NDA submission for F351, expecting growth from 2026 onward.