Top Page
GNI Group
(2160)
GNI Group (2160) vs. iShares MSCI Japan ETF (EWJ)
GNI Group Business Overview & Revenue Model
GNI Group Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 26.84B | 23.61B | 26.01B | 17.42B | 12.69B |
| Gross Profit | 19.99B | 18.04B | 22.43B | 14.74B | 11.09B |
| EBITDA | -1.17B | 436.69M | 5.19B | 1.76B | 1.50B |
| Net Income | -4.41B | 1.10B | 8.09B | 388.83M | 1.07B |
Balance Sheet | |||||
| Total Assets | 83.79B | 71.94B | 64.27B | 33.91B | 30.30B |
| Cash, Cash Equivalents and Short-Term Investments | 21.10B | 12.93B | 23.15B | 11.24B | 14.35B |
| Total Debt | 5.37B | 22.66B | 18.84B | 10.24B | 8.67B |
| Total Liabilities | 32.11B | 32.07B | 27.72B | 14.10B | 11.03B |
| Stockholders Equity | 50.15B | 36.45B | 33.79B | 20.97B | 18.86B |
Cash Flow | |||||
| Free Cash Flow | -2.74B | -3.69B | 5.28B | -580.20M | 172.78M |
| Operating Cash Flow | -2.41B | -3.16B | 6.55B | 393.32M | 552.27M |
| Investing Cash Flow | 2.73B | -12.89B | -3.33B | -4.12B | 2.24B |
| Financing Cash Flow | 10.47B | 3.22B | 7.17B | -646.33M | 357.06M |
GNI Group Technical Analysis
GNI Group Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | ¥158.29B | -28.68 | -10.40% | ― | 13.78% | -110.02% | |
54 Neutral | ¥24.81B | -34.16 | ― | ― | -5.65% | -469.19% | |
52 Neutral | ¥79.55B | -5.96 | -19.31% | ― | -1.96% | -64.18% | |
52 Neutral | ¥138.12B | -8.84 | ― | 2.18% | -0.16% | -802.20% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | ¥155.47B | -57.13 | -10.16% | ― | -62.47% | -134.06% | |
43 Neutral | ¥149.75B | -35.18 | -253.07% | ― | ― | -12.69% |
GNI Group Corporate Events
GNI Group’s subsidiary Gyre Therapeutics has secured Priority Review designation from China’s National Medical Products Administration for F351, a drug candidate targeting liver fibrosis caused by chronic hepatitis B. The designation follows a pre-NDA meeting and clears the way for a near-term new drug application submission via Gyre Pharmaceuticals in China.
The Priority Review status is expected to accelerate regulatory assessment by granting additional evaluation resources, potentially shortening time to market for F351 in a country with tens of millions of hepatitis B patients at risk of fibrosis and cirrhosis. If ultimately approved, F351 could strengthen GNI Group’s position in the liver disease treatment market and address a significant unmet medical need in China, with meaningful implications for patients and the company’s growth prospects.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen3255.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group, through its U.S. affiliate Gyre Therapeutics, outlined substantial revenue potential from its liver fibrosis drug Hydronidone (F351), estimating up to hundreds of millions of dollars in annual sales within five years and highlighting sustained sales for ETUARY for lung fibrosis. Management also emphasized attractive net margins and tax treatment on R&D in Beijing and Shanghai, as well as growing penetration of lung fibrosis treatments in rheumatoid disease indications.
The group’s U.S. and Australian clinical programs via Cullgen are advancing, with CG001419, a TRK degrader for pain, demonstrating safety in early trials and progressing into a Phase 2 study at doses designed for high TRK degradation while mitigating NGF-related joint toxicity. Cullgen also reported significantly higher potency for its degrader antibody conjugates versus standalone degraders and is devoting about half its R&D staff to this platform, expecting its internal degrader library to support future conjugation without needing external licenses, underscoring a strategic push into next-generation oncology and immunology modalities.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen3716.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group Ltd. has announced corrections to previously disclosed non-consolidated financial results for the fiscal year ended December 31, 2025, after determining that tax expenses related to Controlled Foreign Corporation taxation for its wholly owned subsidiary GNI Hong Kong Limited had been overstated. Following discussions with its accounting auditor, the company also revised the valuation of shares in a subsidiary and the recoverability of related loans, resulting in the recognition of a loss on valuation of subsidiary shares and an allowance for doubtful accounts in its non-consolidated financial statements.
As a result of these adjustments under Japanese GAAP, GNI’s non-consolidated figures for ordinary income and net income for 2025 were revised downward, deepening the previously reported loss at the parent-company level. However, the company emphasized that these valuation losses and allowances are eliminated on consolidation, meaning there is no impact on its consolidated IFRS-based financial results, which should help reassure investors that the group’s overall financial position and performance remain unchanged despite the non-consolidated revisions.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen3192.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group Ltd. has proposed a slate of director candidates for approval at its 25th Annual General Meeting of Shareholders on March 26, 2026, including the reappointment of President and CEO Ying Luo and key executive director Ryosuke Matsui. The lineup maintains most existing directors while adding certified public accountant Hironao Yazaki as a new outside and independent director, and confirms the planned retirement of director Hideaki Sashiwa, signaling a focus on continuity in management alongside strengthened financial and governance expertise.
Yazaki brings extensive auditing and accounting experience from roles at Ernst & Young ShinNihon LLC and his own CPA office, as well as board-level exposure in medical and pharmaceutical research. The addition of another independent director with a strong financial and healthcare-related background is likely aimed at reinforcing governance, risk management, and regulatory credibility for stakeholders as the company continues to operate in the highly regulated medical and pharmaceutical industries.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen3192.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group has announced a partial correction to its consolidated financial results for fiscal 2025 after discovering that tax expenses related to Controlled Foreign Company taxation for its wholly owned subsidiary GNI Hong Kong Limited had been overstated. The revision slightly improves key profitability metrics, reducing reported operating loss, pre-tax loss, and loss attributable to owners of the parent, and modestly lifting basic earnings per share, but does not alter the overall picture of a loss-making year, clarifying the company’s true tax burden for investors.
The corrected figures show FY2025 revenue unchanged at ¥26.84 billion, while operating loss narrowed from ¥3.483 billion to ¥3.471 billion, pre-tax loss improved from ¥4.646 billion to ¥4.634 billion, and net loss shrank from ¥7.318 billion to ¥7.150 billion. Profit attributable to owners of the parent improved from a ¥4.411 billion loss to a ¥4.244 billion loss, and basic earnings per share were revised from –¥84.09 to –¥80.90, providing a more accurate view of shareholder returns and financial performance.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen3192.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group’s Nasdaq-listed subsidiary Gyre Therapeutics has agreed to acquire fellow GNI consolidated unit Cullgen Inc. in an all-stock deal valued at about $300 million, making Cullgen a wholly owned subsidiary. The combined business will operate in the U.S. and China as a fully integrated biopharmaceutical company, covering discovery through commercialization in inflammation, oncology and pain.
The transaction gives Gyre access to Cullgen’s targeted protein degradation and Degrader-Antibody Conjugate platforms, which are expected to serve as core drug discovery engines and expand its long-term growth prospects. Leadership will be reshaped with Cullgen CEO Ying Luo slated to become Gyre’s president and CEO while Ping Zhang remains executive chairman, and the deal, subject to customary closing conditions, is targeted to close early in the second quarter of 2026 as Gyre advances its liver fibrosis candidate Hydronidone toward a China NDA filing.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen3192.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group Ltd., a biopharmaceutical company listed on the TSE Growth market, reported a sharp year-on-year swing in its non-consolidated performance for the fiscal year ended December 31, 2025, under Japanese GAAP. The company’s standalone results are sensitive to intragroup transactions, particularly with its U.S. subsidiaries, which can create substantial temporary gains or losses that differ from the underlying operating picture.
For 2025, GNI’s non-consolidated ordinary income fell to a loss of JPY 1.59 billion and net income dropped to a loss of JPY 1.33 billion, compared with profits of JPY 5.90 billion in the previous year, with net income per share reversing from JPY 118.06 to a loss of JPY 25.45. Management attributed the decline mainly to the absence of a prior one-off gain from the reversal of about JPY 6.02 billion in doubtful-account provisions tied to GNI USA and Gyre Therapeutics shares, and to a new one-time loss of JPY 630 million on a forward transaction, highlighting the impact of non-recurring items on the company’s headline earnings for investors and other stakeholders.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2600.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group reported FY2025 consolidated revenue of ¥26.84 billion, up 13.7% year on year, but swung to an operating loss of ¥3.48 billion and a loss attributable to owners of the parent of ¥4.41 billion, reversing the prior year’s profit. Despite the loss, total assets rose to ¥83.79 billion and equity attributable to owners increased to ¥50.15 billion, reflecting strengthened capital, while the company again withheld dividends and refrained from issuing an FY2026 earnings forecast due to difficulty in reasonably estimating performance in its pharmaceutical and drug discovery businesses.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2600.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group has postponed the disclosure of its full-year 2026 consolidated earnings forecast and related earnings presentation materials, as well as an earnings briefing that had been scheduled for February 24, 2026. The company cites both regulatory constraints linked to its U.S.-listed subsidiary Gyre Therapeutics, whose own results are due in mid-March, and the difficulty of reasonably estimating key variables affecting 2026 performance.
Management says detailed segment and outlook information is tightly connected to Gyre Therapeutics’ performance, and early disclosure in Japan could raise concerns under U.S. fair disclosure rules. In addition, earnings are highly sensitive to the approval timing, launch schedule, and pricing of F351 and to R&D progress at Cullgen, making forecasts currently unreliable and therefore classified as undetermined.
The decision reflects a revised disclosure policy as F351 enters a pivotal phase toward a planned NDA submission in the first half of 2026, with the company emphasizing strict information control aligned with global standards. GNI argues that prioritizing compliance and governance around this first-in-class drug candidate will support long-term shareholder value, and it plans to release materials and forecasts once Gyre’s announcement is complete and reasonable estimates are possible.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2600.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group has addressed a series of investor questions to enhance transparency around its strategy and disclosure practices, notably regarding the planned acquisition of Gyre Pharmaceuticals funded by its July 2025 overseas offering. The company aims to complete the deal by the end of 2026 but stresses that timing and capital allocation may shift depending on negotiations and the relative growth potential of other projects, with shareholder value as the primary consideration.
Management also defended the timing of its revised full-year earnings forecast, explaining that late-year external changes, the material impact of subsidiary Cullgen, and year-end asset impairment testing delayed finalization until after December 31. In addition, GNI clarified its communications on F351, stating it avoids repeating previously disclosed details, and outlined general definitions around F351’s target indication and regulatory process, while emphasizing that detailed interactions with regulators remain confidential under standard pharmaceutical industry practice.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2600.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group has sharply revised its full-year 2025 consolidated earnings forecast, now projecting lower revenue of ¥26.8 billion and a swing from a previously expected substantial profit to a net loss, driven mainly by the deferral of the planned NASDAQ listing of core biotech subsidiary Cullgen and the exclusion of an anticipated large listing gain. The company will also recognize an impairment loss of ¥468 million on goodwill, intangible and fixed assets tied to several subsidiaries, while Cullgen’s full-year operating loss will remain fully consolidated instead of shifting to equity-method accounting, further pressuring earnings even as ETUARY® and the Medtech unit continue to post record-high revenues, implying a near-term hit to profitability and equity story despite ongoing operational growth in its core businesses and continued pursuit of Cullgen’s listing.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2406.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group has acquired all shares of dental laboratory operator ZOO LABO, Inc., converting it into a consolidated subsidiary as of 29 December 2025, in a move to strengthen and expand its business base in Japan beyond headquarters functions. By integrating ZOO LABO’s CAD/CAM-driven dental prosthetics manufacturing with its existing Medtech capabilities and dental-use bone materials from Berkeley Advanced Biomaterials, GNI aims to accelerate digitalization in the dental field, create group synergies and enhance its medium- to long-term earnings, though the immediate impact on fiscal 2025 results is expected to be limited, with consolidation of ZOO LABO’s financials beginning in 2026.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2443.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group’s U.S.-based consolidated subsidiary Cullgen Inc. will participate in the 44th Annual J.P. Morgan Healthcare Conference in San Francisco, one of the industry’s most prominent investor events that convenes global healthcare executives and institutional investors. Alongside this appearance, Cullgen has published an updated corporate presentation outlining key pipeline progress, including plans to start a Phase 2 clinical trial in the second quarter of 2026 for its novel non-opioid pain candidate CG001419 and the advancement of a new targeted protein degrader program for inflammatory diseases into IND-enabling studies, developments that underscore the group’s push to expand its clinical-stage portfolio and raise its profile with international investors.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2443.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.
GNI Group announced that its subsidiary Gyre Therapeutics has completed a Pre-New Drug Application meeting with China’s Center for Drug Evaluation regarding F351, confirming that an NDA submission via the conditional approval pathway is acceptable and that the drug may qualify for Priority Review. F351, already designated a Breakthrough Therapy by Chinese regulators, is now positioned for an NDA filing in the first half of 2026, with Gyre preparing a confirmatory clinical trial to support the potential transition from conditional to full approval, a step that could accelerate time to market and strengthen the company’s position in the hepatology drug space in China.
The most recent analyst rating on (JP:2160) stock is a Hold with a Yen2311.00 price target. To see the full list of analyst forecasts on GNI Group stock, see the JP:2160 Stock Forecast page.